Home Forums Hunting & Shooting Hunter's Campfire Why Has Gold Price Not Skyrocketed ?

Your link has an impassable wall in front of it, making it impossible to read.

And what do gold bugs convert their gold into ? Fiat money so they can actually buy something with it. Gold is simply a commodity. People who buy gold don’t understand a real economy or the money that it trades with. Gold can be used as a form of money but it’s a really inflexible currency and therefore a really poor one. If the economic system truly breaks down then gold is as worthless as the paper money is. Let’s hope we don’t get to societal collapse and a barter economy. Most will die if it does come to a barter economy and gold won’t save you.

Sorry about that:

"Since 2004, our gold products have provided investors a relatively efficient and liquid way to access the gold bullion market through physically-backed ETFs."

The minimum amount to redeem, is, or at least was, 100,000 shares.

I remember when I bought Krugerands for $250.00 and people thought I was nuts,but it does not matter what gold sells for if there are no buyers.

ha

The U.S. dollar is still strong and inflation is low.

This combined with a glut of metals on the market as commodities traders responded to margin calls has suppressed the listed market price of precious metals.

There is little of silver or gold available from normal suppliers due to the fact that when prices are suppressed they operate in "buy" mode rather than "sell".

Make no mistake. This is an opportunity if you can find a source to buy from.

Maybe, just maybe, people have finally figured out that all that hoopla about gold being the one true last-ditch commodity was no more than ad copy from people who sell gold.

And they've also found that gold is pretty worthless for wiping your butt - or even buying Spam.

I repeat my comment about people possibly being smarter than we give them credit for being.

OK, so it's not just a futures market. But unless you redeem 1000 ounces, you can't touch it. I wonder how you redeem it, show up at the vault with stock certificates and trade them? That would be cool to do if you were uber rich.

GOLD prices sure went up in 2008. Commodities have historically done well in recessions. Glenn Beck is sure pimping gold again. I'll give him some credit as I remember him warning about the 2008 crash before it happened.


https://goldprice.org/30-year-gold-price-history.html

Hedge funds sell gold and silver during big stock sell offs to raise cash to cover their leveraged investments or face a margin call. After s while the stocks and metals decouple and metals can rise quickly.

There is a huge disconnect between the paper market for metals and the physical market right now. We saw the same thing in 08 and 09. Spot was low but premiums on physical were high. They are much higher now and typically when the listed price and the street price are that far apart there's some major manipulation going on somewhere.

I won't be surprised to learn later that the Chinese were shorting the paper while buying up all the physical they can. I've never seen the physical market as crazy as it is now. Many items are out of stock everywhere.

If I could get the premiums I'm seeing listed I'd sell some of mine. Mercury dimes are well over $2 each at many places.

Bb

You have to have a special account with the custodian, State Street Bank, and send them instructions. It takes about 3 days to settle the trade and transfer ownership of the gold to you. Once it's in your name, you can leave it in place and pay the storage costs on in, or arrange for pickup.

On eBay there are plenty of gold coins and they are not selling unless the price is down near reasonable... if the street price was truly inflated right now one would think there would be none available.

Very few are selling even. This is the search results for completed auctions on gold coins...

https://www.ebay.com/sch/i.html?_from=R40&_nkw=gold+coin&_in_kw=1&_ex_kw=&_sacat=11116&LH_Complete=1&_udlo=&_udhi=&_ftrt=901&_ftrv=1&_sabdlo=&_sabdhi=&_samilow=&_samihi=&_sadis=15&_stpos=99516&_sargn=-1%26saslc%3D1&_salic=1&_sop=13&_dmd=1&_ipg=50&_fosrp=1

Times like this a person would be wise to educate themselves regarding precious metals. Lots of disinformation here.
After the 2008 crash I decided to learn what money is and how it works, it made for a fascinating and enlightening education.
Beware, the gold bugs are a main source of much info and they aren't particularly wrong but do have an agenda.
With the volume of money printing we are doing we will find out if the laws of economics still apply.

I don't recall anyone of any standing ever calling gold .

Commodites are valuable by nature. Corn can be as valuable as gold, but I don't want even $1000 worth in my pocket.

Gold is the "gold standard" for the preservation of wealth. In normal times, for the past hundred and fifty years or so, it has become moribund as a day-to-day exchange for a number of reasons. However, if it is so worthless, why is so much of it held by the big boys and when there's a margin call, what is sold to pay it off?

interesting. If there is movement probably be big and fast

how about the mining companies' stock

Its difficult to find unbiased research on precious metals economics. Most I look at are trying to sell it or have a pop up ad.

ribka,
As I said many have an agenda. I would start with researching fiat money and the history of it and the role gold and silver plays

I held stock in a gold mining company for years. It seemed that the sole goal of the company was to make sure that its stock never rose in value.