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Thread: Gold Price Watch

  1. Default

    'Marc Faber : Cash at 0% doesn’t accumulate wealth either. The moment central banks implement monetary policies where they keep interest rates negative in real terms, in other words interest rates are lower than the rate of cost of living increases, then it is very difficult to value anything. The only thing I can say is, Mr Ben Bernanke, Chairman of the Federal Reserve, and other central banks, they can print an unlimited quantity of money, but you cannot print gold. Gold is limited by its annual supply of around 2,500 tonnes annually. So it is not that gold is going up, it is that the paper value of money, the purchasing power of money is going down vis-à-vis a unit of account, which is gold.'

    http://marcfaberchannel.blogspot.com...6QTwVIE.pingfm

  2. #22
    england us georgia
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    St Mark , very wise man .
    What glitters more than Gold ?
    Mad Ben's gums . His teeth have all fallen out ..

  3. Default Gold Prices set to explode in 2012 - Peter Schiff

    http://gold-silver-market.blogspot.c...e-in-2012.html


    As much as I value Peter Schiff's opinion (I am a paid subscriber to his daily radio show); I am ever so slightly weary of his precious metals predictions.

    He has been a bit over-anxious to boost the next gold/silver boom, IMO.

    Plus, he makes money selling gold/silver...so his bias on this is questionable.


    I still think he REALLY knows his stuff on economics. And I agree the future for precious metals is very bright. Maybe very, VERY bright.

    But I listen to Marc Faber and Jim Rogers more on precious metals then Peter Schiff. They have a slightly better track record and (to my knowledge) do not make money on selling gold/silver - so are perhaps less biased.
    Last edited by DA60; Feb 03 2012 at 01:05 AM.

  4. Default

    Gold closed out the week at $1723.50/oz..

    That's down $14.85 (under 1%) for the week.

    http://www.goldprice.org/gold-price-history.html

  5. #25
    england us georgia
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    A bit misleading because it hit 1762 before it hit 1715 this morning --- a near 3% decline .
    Fortunately , my mistress, Lady Silver , held up better .
    What I don't know is what caused the hiccup?
    I suspect it was the false US Unemployment figures they released mid afternoon GMT which kidded amateurs that matters were looking up in the US .
    In their dreams .

  6. Default

    Quote Originally Posted by raymondo View Post
    A bit misleading because it hit 1762 before it hit 1715 this morning --- a near 3% decline .
    Fortunately , my mistress, Lady Silver , held up better .
    What I don't know is what caused the hiccup?
    I suspect it was the false US Unemployment figures they released mid afternoon GMT which kidded amateurs that matters were looking up in the US .
    In their dreams .
    another possibility is that Greece has still not struck a deal with the EU countries!

  7. #27
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    Quote Originally Posted by bacardi View Post
    another possibility is that Greece has still not struck a deal with the EU countries!
    Academic , but for once I do not fully agree with you .
    This news is more likely to push prices higher --- historically always the case .
    I don't think anybody expects a quick , let alone good Greece solution .
    I am even wondering if they need to wait until late April because of Greek elections that month .
    Whatever the outcome , the Greek serfs will be pot less and will take to the streets big time .
    A re-elected Govt does not want that happening beforehand , if possible . It will be horrendous if they have to take a 70% hair cut .

  8. Default

    Quote Originally Posted by bacardi View Post
    another possibility is that Greece has still not struck a deal with the EU countries!
    Personally, I think this is the main culprit.

  9. #29
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    Quote Originally Posted by DA60 View Post
    Personally, I think this is the main culprit.
    But it has raced back to 1745 as I speak .
    The unemployment figures are now 4 days old and savvy people see they are essentially nonsense ,( So , Gold Up) , but the Greek situation has not yet altered one iota( according to you ,this should be continuing to depress the price) .

    First point to Ray but I shall continue to monitor .
    Last edited by raymondo; Feb 07 2012 at 09:25 AM.

  10. Default

    Quote Originally Posted by raymondo View Post
    But it has raced back to 1745 as I speak .
    The unemployment figures are now 4 days old and savvy people see they are essentially nonsense ,( So , Gold Up) , but the Greek situation has not yet altered one iota( according to you ,this should be continuing to depress the price) .

    First point to Ray but I shall continue to monitor .
    The Greek situation changes almost every hour.

    And who is to say where gold/silver would be were there no problems with Greece?

    I have said my opinion.

    You don't agree - so be it.

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