Has gold peaked?

[Dudley83]

As title suggests. Has gold seen its best days?

Is it still the investment commodity we all hope it to be? 

Thanks 

 

[sixgun]

It's peaked. Thousands of years of gold and silver being sound money have come to an end. Paper currencies will soar in value. It's obvious.

[sixgun]

But seriously - anyone who thinks gold and silver have had their day is living in La La Land.

Russia, China, India, the Middle East and so on are piling into gold and silver. Their buying is actually falling - not b/c they have lost their appetite but the supply could not keep up. We see the Yuan-Oil contract which is getting into its stride - it is starting to rival Brent. This contract is linked to gold. Western nations are bankrupt.

The last circulating sovereigns were produced in 1925. A sovereign is £1 - the cheapest sovereign today at Hatton Garden Metals is £220. Over the last 93 years the paper Sterling currency has 1/220th of its 1925 value. 

[mr-dead]

Gold will either make me rich in years to come or ill get buried in one of these.

Either way its a win win

 

[HawkHybrid]

gold remains unchanged, the world around it comes and

goes.

 

HH

[Xander]

1 hour ago, Dudley83 said:

Has gold seen its best days?

Man prates...Gold speaks!... Listen to gold.

[Lowlow]

I think it has peaked for the time being.  I'm looking for a pullback in gold's price, and I think that is what will normalize the gold/silver ratio.  I basically think that gold is lagging silver and other commodities in a correction.

[RoughDog]

11 hours ago, mr-dead said:

Gold will either make me rich in years to come or ill get buried in one of these.

Either way its a win win

 

If you go before me, do tell me where you will be buried.😎

[Nick1368]

I think it's only a matter of time until the price of gold goes up again, that's my personal opinion judging by all the chaos all over the  world in terms of politics and economy and the way the market is behaving these days.

I would continue buying and hopefully I won't regret this decision.

[StackemHigh]

I think gold will trundle on just expensive enough to keep the masses away. People with vision will see the benefits and the rest will be seeing x factor on a huge obsolete tv!

[Lowlow]

13 hours ago, Nick1368 said:

I would continue buying and hopefully I won't regret this decision.

What's to regret ?  No matter what the paper price is you'll have the gold and silver.  I mean who cares if your car is only worth a dollar if you still have the car.

[Uksilverstackers]

It will continue as is..... until there is a large enough supply shortage and the physical price detaches from the paper price.

Apparently, currently the supply of 10kg of gold is not problem, but getting a 1 tonne + order already has delay issues. 

West - East Chart

I reckon there was an issue with Platinum delivery a few weeks back. Royal Mint Signature actually said "out of stock" and Goldmoney premium jumped up from average £8 to £28 for a short time, I guess till delivery was secured then it went back to normal....

But what do I know 😳

Anyone on the forum who works for a company dealing in Tonnes of the barborous relic who can enlighten us all?

[Bumble]

The price of gold won't take off until money is ready to move out of other investments. At the moment, lots of investors are simply buying FAANG stocks because they keep going up, so it is difficult to justify not being in them. Fund managers do not want to buy other things and then have their investors say: Why are we paying fees to you when we can do better just owning Amazon stock? It will take a distinct catalyst to shake investors out. Even if a new financial crisis happens, gold may not be the immediate beneficiary. When investors panic they buy USD because it is the largest and most liquid 'asset' in the world. They will also buy US bonds, provided the crisis is not an American sovereign debt crisis. This will push up the dollar, and hence push down gold, or at least the XAU/USD cross. It is even quite possible that if the crisis is a sovereign debt crisis, money might flow into stocks, on the basis that you are better off trusting your money with the boards of Microsoft/IBM/Ford than the governments of Italy/Turkey/Argentina.

Gold is really more your backstop or insurance. It is nobody else's liabilty and will not go to zero. It is not worth worrying too much about the near term price.

[austack]

On 27/09/2018 at 22:32, MrGeorge said:

Think it peaked 2011 or 12 so its been doing 💩ever since. Short term under 10 years i think gold is a bad investment but should hopefully in the long term turn out good but i have drastically slowed down my gold purchases this year and will completely stop all together soon as i hit 50oz 

Wait.. you haven't even hit 50oz yet? I am assuming you're new to Gold, I hit my 50oz milestone 2 months into stacking.

[sixgun]

https://schiffgold.com/key-gold-news/as-economy-tanks-indonesians-turn-to-gold/

Precious metal goes from strength to strength - not what we are supposed to believe according to the controlled propaganda outlets and the managed paper prices.

Here we see how Indonesians is increasingly turning to gold as their currency depreciates. Do not think that this currency fallout will not be contagious and the West will not be affected. The idea of saving in gold and silver was natural in the West b/c the currency was made of gold and silver. Now we have been tricked and lured into paper. i found an old £10 note in my wallet - i could not spend it, i was told i had to swap it at the bank. That note could just as easily have been declared not legal tender and worthless and not swapable. They pulled the large denomination notes in India and cause pandemonium.

[dicker]

So it’s impossible to tell, and anyone who tells you is guessing.

With the most remarkably powerful computers and a view from space we cannot accurately predict weather tomorrow.....the same is true for the price of almost anything.  

What I can tell you is that we have printed a vast amount of money and our western governments are all in massive debt. 

Buying Ag or Au is a backup for many people - a useful alternate to equities, fixed income or asset backed instruments

best

dicker

 

[sixgun]

34 minutes ago, dicker said:

So it’s impossible to tell, and anyone who tells you is guessing.

With the most remarkably powerful computers and a view from space we cannot accurately predict weather tomorrow.....the same is true for the price of almost anything.  

What I can tell you is that we have printed a vast amount of money and our western governments are all in massive debt. 

Buying Ag or Au is a backup for many people - a useful alternate to equities, fixed income or asset backed instruments

best

dicker

i disagree - it is absolutely certain the gold price has not seen it's best days, it is certain it has not peaked. It is certain price will reset and much much higher.

The growing powers of the East are vacuuming up gold - 1000's of tonnes have left the West and continue to leave. The Chinese are mining uneconomic mines to get more gold. This is not for fun this is to back their currencies at a future date. If you are going to back your currency with gold you want price to be high and once you have had your fill of gold you want it to be as high as possible. At the moment the West want gold low to make the USD look good and the East want it low to get as much gold at fire sale prices. The drain of gold is faster than mined supply. So when the East decide that aren't getting any more at cheap prices there will be a reset, that is if the Western cabal don't reset price first.

The fact that so much gold has been bought by Asia guarantees the reset. Exactly when - this year, next, in 5 years is not possible to say, but it is certain it will happen. Already we are seeing the yuan - oil contract making big strides with the convertibility of yuan into gold. Shift a decent piece of the oil market into gold and you bring the supply exhaustion point forwards along with the reset.

[Lowlow]

5 hours ago, sixgun said:

The fact that so much gold has been bought by Asia guarantees the reset. Exactly when - this year, next, in 5 years is not possible to say, but it is certain it will happen. Already we are seeing the yuan - oil contract making big strides with the convertibility of yuan into gold. Shift a decent piece of the oil market into gold and you bring the supply exhaustion point forwards along with the reset.

I don't know that the question is when, as much as it is ... where ?  That reset is happening right now in some countries - Venezuela, Argentina, Turkey, South Africa ... it just hasn't happened yet in the United States, Canada, UK, etc.

[sixgun]

9 hours ago, Lowlow said:

I don't know that the question is when, as much as it is ... where ?  That reset is happening right now in some countries - Venezuela, Argentina, Turkey, South Africa ... it just hasn't happened yet in the United States, Canada, UK, etc.

If you shuffle through a chart which shows gold prices in various currencies you will find those where the currency is clearly going down the pan. This is not the odd currency but a decent number - affecting many millions of people around the world. So absolutely gold is resetting against currencies, it is doing what it says on the label - being real money and the ultimate hedge.