Precious Metals Who is buying gold at the moment?

Hubby is..
just checking..I have no idea! :s :s

 

Guest

And Unca Scrooge Forbes Rich List



Penny-pinching poultry keeps majority of his fortune in gold coins stored in massive "money bin" high in the hills above Duckburg; also invests in pearls, gems, other "hoardables." Still refers to August 15th, 1971 –the day President Nixon took the U.S. off the gold standard– as "Black Sunday." Habitually marks anniversary by calculating net worth as percentage of the value of the gold in Fort Knox (21.4%). Famously frugal: Once fought a bear over a $2 jar of honey, never gives to charity, still has the first dime he ever earned. Nonetheless, known to sprout the occasional wild feather and jet off to exotic locales on ill-conceived "treasure-hunts" with troublesome great-nephews –and presumed heirs– Huey, Dewey and Louie

 

Typically only buying under A$1600, haven't bought any substantial amounts for a few years now. I did buy $1,000 worth of silver today though

My most substantial speculation in precious metals has been in a couple of silver exploration/developer companies on the ASX in recent months.

 

Couldn't really blame anyone for buying now though...

 

Gold as only utilitarian value and no more monetary value these days.
The same can be said for diamonds which have less utilitarian value and probably more expensive by the kilo.
So it's all about perception just like the ole tulip days.

No thanks. I don't think it has any value during the zombie apocalypse.

 

If you took all the gold ever mined (most of it in the past few decades), it would make a cube about 20m x 20m x 20m.

So less than a cricket pitch wide, long and high!

Weighs tons though; its about 19 times denser than water.
How Much Gold Has Been Mined? | World Gold Council

 

Yes gold and silver . I think long term you can't go wrong with gold along with crypto currencies. As we move closer and closer to a cashless society (and with it the taxing of all sales such as eBay, garage sales ect), alternative currencies will be more sought after so people can wheel and deal without big brother getting involved.

 

Keep telling yourself that...

Gold Demand Trends Q2 2017: Central Banks | World Gold Council

 

Who We Are | World Gold Council

"Who we are

We are the market development organisation for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market."


Yup, totally an unbiased source definitely not looking for a positive angle on anything

 

I buy gold and silver using abcbullion. Just a couple hundred a month on an automatic monthly plan...just letting it accumulate.

I only do this as markets are irrational. I dont 'believe' in gold per se, I just believe that things go crazy every now and then and I'll accumulate precious metals when they are relatively cheap.

 

So do you think they are lying about central banks adding to their monetary reserves in aggregate or...?

 

Central banks, the banking families and governments are all hoarding gold like no tomorrow.

 

What are the rent yields and tax deductions on gold?

 

Want to share names? Guest

I've been pretty happy with the recent share price performance in Novo Resources

 

One of the forum members at Silver Stackers sold the tenement to Novo, interesting read: Stumble onto a gold mine or buy a lease.

They look well overvalued at current market cap, but well done riding it up! Do you have an exit strategy or going to hold them for exploration results (seems to be a lot of success priced in)?

My junior silver resource companies are MRV (average buy price of .005) & ARD (average buy price of .032). Think they are both well positioned with positive news flow to come over months ahead and hoping alongside a rising price of silver

 

I think they're focusing on a single quarter this year being higher than a single quarter last year and making that the headline figure, when the text makes it clear that even including one extra quarter (h1 2017), demand is flat or lower and it's well below the five year average

 

My point was simply that central banks (in aggregate) are accumulating gold in monetary/reserve form and have been since around the GFC. Suggest you read the post I was replying to for context.

I don't know of any central banks accumulating diamonds, perhaps @Piston_Broke can fill us in on their activity in that area...

 

Zero

 

So, better than the rental yield on lots of leveraged residential property then.

 

so why do folks buy it?