GOLD

Caleb!

Junior member
11 0
Gold prices ended higher, paring a weekly loss after U.S. employment data missed estimates and fell by US$13.30 an ounce or 0.7% over the week.
 

Jacob.FX

Newbie
7 0
Watching hourly chart, Gold is going to experience downtrend. As a rookie, am I right? There is no perspective of going higher...
 

Atilla

Legendary member
19,703 3,024
I'm always intrigued by people who hold a lot of gold.

If one wants the price of gold to go up, then surely you are in favour of Central Banks printing lots of money. Does that mean you support fiat currencies?

If we didn't have fiat currencies, then how would one value the price of gold?

Then there is that other option, you hold gold to store your wealth so it is not eroded by inflation. But there lies the confusion again, are you storing wealth or using your wealth in the purchase of gold as a speculative investment to make your capital grow.

Gold in it self carries risks and has a cost of holding it. Have you considered what the opportunity cost of holdig gold is? Or is it the case that one is very wealthy and gold is just another asset in a class of assets for maintaining and demonstrating ones wealth?

Gold that shiny tink always a fascination...
 
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IceThor

Junior member
38 10
I'm always intrigued by people who hold a lot of gold.

If one wants the price of gold to go up, then surely you are in favour of Central Banks printing lots of money. Does that mean you support fiat currencies?

If we didn't have fiat currencies, then how would one value the price of gold?

Then there is that other option, you hold gold to store your wealth so it is not eroded by inflation. But there lies the confusion again, are you storing wealth or using your wealth in the purchase of gold as a speculative investment to make your capital grow.

Gold in it self carries risks and has a cost of holding it. Have you considered what the opportunity cost of holdig gold is? Or is it the case that one is very wealthy and gold is just another asset in a class of assets for maintaining and demonstrating ones wealth?

Gold that shiny tink always a fascination...
You have probably gone into the pyshcological reasons of holding gold, I just care about value and I have done very well from when I bought it.
 

new_trader

Legendary member
6,653 1,482
I'm always intrigued by people who hold a lot of gold.

If one wants the price of gold to go up, then surely you are in favour of Central Banks printing lots of money. Does that mean you support fiat currencies?

If we didn't have fiat currencies, then how would one value the price of gold?

Then there is that other option, you hold gold to store your wealth so it is not eroded by inflation. But there lies the confusion again, are you storing wealth or using your wealth in the purchase of gold as a speculative investment to make your capital grow.

Gold in it self carries risks and has a cost of holding it. Have you considered what the opportunity cost of holdig gold is? Or is it the case that one is very wealthy and gold is just another asset in a class of assets for maintaining and demonstrating ones wealth?

Gold that shiny tink always a fascination...

Are these rhetorical questions? E.g. I don't understand why investors in Bitcoin think it's different to other crypto currencies!

Or,

Do you genuinely not understand anything about gold? E.g. I don't understand wave-particle duality in physics and chemistry, where light and matter exhibit properties of both waves and of particles.

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Atilla

Legendary member
19,703 3,024
Are these rhetorical questions? E.g. I don't understand why investors in Bitcoin think it's different to other crypto currencies!

Or,

Do you genuinely not understand anything about gold? E.g. I don't understand wave-particle duality in physics and chemistry, where light and matter exhibit properties of both waves and of particles.

Ahhh Mr Goldfinger, there you are... Thought you'd catch on being a fiat currency lover that you are... Love the golden bull. :love:

It was just that a dangerous thought flashed up in my mind. With all the BitCoin and Gold hype that people get really excited about, i.e. what they are worth in fiat currencies, whilst both in some respects aim to do away with the currencies. What if we had no currencies?

My question and thoughts are sincere that - I genuinely wondered what would happen if we had no fiat currencies and just had gold or Bitcoin how items might be valued then?

In the absence of currencies - would we then have an exchange rate between the two of them? As more supply of gold comes into circulation, I'd guess the price of gold would then depreciate against BC.

We could go back to gold backed Dollar standard but that does seem like a dream. Perhaps more a case of a gold backed Yuan standard in another few decades time. Or even BC backed dollar standard.

So this is what I was thinking about...

 
 
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