Today & Tonight, Gold is Getting KILLED - page 2.

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Quote from: Kakmakr on February 17, 2016, 03:03:32 AM

Quote from: youdamushi on February 16, 2016, 05:45:27 AM

Quote from: Kakmakr on February 16, 2016, 02:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

What is the value of that, if you cannot use it in open trade? The problem with transporting it to other countries where it has value, is the logistics and the weight. If ownership of gold is forbidden, you cannot simply climb on board of a jet with a bunch of gold bars and wizz to another country. The security at the airport will confiscate all gold before you can take it out of the country. Bitcoin can go through borders without any trouble and that is a mayor advantage over gold.

Bitcoin is a bit volatile at the moment but once it gets more distributed, it would be a perfect alternative for gold ownership.

Well, Kakmakr, I have the following comments to pass along:

1) It is rather easy to take small amounts (say 2 oz or less in small coins) with you through the airport. Be creative...

2) "There is always someone around who will take (= accept as payment) your gold."

3) Yup, BTC goes through airports very nicely! The problem is that BTC is not popular in many countries (like Peru: my "other" beat).

4) You wrote (re Bitcoin):

   "... it would be a perfect alternative for gold ownership."

   I would correct that to:

   "... it would be a perfect complement to gold ownership."

Kakmakr

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Quote from: youdamushi on February 16, 2016, 05:45:27 AM

Quote from: Kakmakr on February 16, 2016, 02:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

What is the value of that, if you cannot use it in open trade? The problem with transporting it to other countries where it has value, is the logistics and the weight. If ownership of gold is forbidden, you cannot simply climb on board of a jet with a bunch of gold bars and wizz to another country. The security at the airport will confiscate all gold before you can take it out of the country. Bitcoin can go through borders without any trouble and that is a mayor advantage over gold.

Bitcoin is a bit volatile at the moment but once it gets more distributed, it would be a perfect alternative for gold ownership.

STT

legendary

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Nothing big in the grand scheme, its only a high percentage as gold fell from 1900 already but I imagine 50 will be nothing in the future when it recovers and surpasses previous highs. The thing to watch is the bigger trend which was down even on recent rises unfortunately, takes alot of time to turn around usually

7788bitcoin

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Market ups and downs are very normal. This is how the traders make profits...

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Quote from: 1Referee on February 16, 2016, 06:03:26 AM

It looks like the market price of Gold is totally destructed if you look at the 24 hour chart. If you switch over to the 30 day chart, then it's up more than 13%!!

It's been on a downhill trend for so long, though, that I feel it's most likely just artificial. I have the feeling it's going to drop back down again soon. Though with the world events, maybe not?

1Referee

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It looks like the market price of Gold is totally destructed if you look at the 24 hour chart. If you switch over to the 30 day chart, then it's up more than 13%!!

southafricadude

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ounce.me is a cool site! Bookmarked....thanks for the share

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Quote from: Kakmakr on February 16, 2016, 02:41:19 AM

The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

It doesn't matter that you have the right to own it or not. You can always hide it somewhere and the worth of the god will still be good especially in other countries!

Kakmakr

legendary

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The saying goes, "When in doubt, buy Gold" but what if my doubts involve the laws governing the ownership of gold. What will prevent governments from prohibiting people to own gold, like they did in the USA. We buy gold in the hope that they will not do that again.

I know some countries do not allow people to buy gold and in Greece they wanted to stop people from buying it too, when things got tough. It might be seen as a safe haven, but it has some regulatory issues too. ^hmmm^

OROBTC

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Quote from: The Sceptical Chymist on February 16, 2016, 12:47:46 AM

Sir! I'd say gold is holding its own pretty well, and silver is not faring poorly either.

I'm thinking about buying some sort of gold coin with some spare bitcoin, probably through Provident. Like a Mexican gold 5 pesos or some such. Gold dipped a little, but I think it's just that, a dip. I don't think it's getting killed.

I can highly recommend Provident, I have bought from them some six times, all w/ Bitcoin. Shipment takes less than a week (usually...).

Gold (of course) has been doing very well over the past few weeks, but its moves last week, as well as today/tonight are very dramatic (I did of course, write an inflammatory Subject Title here, smile,,,).

Short-term my predictions (guesses) re gold price are worth very little. Given some time, however, I believe gold will go way up vs. most other investments. Buying little by little is what I have done for decades (since 1985 or so). I remember how *SHOCKED* I felt one time paying $500 ($500!!) for a mere ounce of gold... LOL

I have bought as income permitted. I am at about 11% in gold of my net worth. 1% - 20% is a reasonable (and very wide) range. Remember that only some 2% of Americans own ANY investment (non-jewelry) gold, so even if you wind up with just 2 ounces (say) in your "stack", you are way ahead of most people.

Buying small-sized gold coins is a great strategy if you do not own much. Mexican 5 peso coins as well as 1/10th oz Eagles fit the bill nicely.

EDIT: Provident does charge 1% more for Bitcoin payment, argh.

EDIT 2: To correct spelling errors.

The Sceptical Chymist

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Sir! I'd say gold is holding its own pretty well, and silver is not faring poorly either.

I'm thinking about buying some sort of gold coin with some spare bitcoin, probably through Provident. Like a Mexican gold 5 pesos or some such. Gold dipped a little, but I think it's just that, a dip. I don't think it's getting killed.

OROBTC

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...

After last Thursday's impressive $50 price melt-up, it looks like gold is getting hammered in the Far East. The total price decline over the past 24 hours or so is over $30 per ounce (not counting Friday's lesser decline). I can't explain it, so please don't ask...

FYI, gold price is easily available at:

ounce.me (a nice handy little site that also shows BTC, LTC and other PM prices as well as crude oil and the US$)
kitco.com (the coin shops use this site to price their gold coins for sale to the public)
24hGold.com (also has links to other gold and financial info)

The ounce.me site also has a handy BTC:Gold ratio, this would be of interest to anyone buying gold with their BTC.

Topic: Today & Tonight, Gold is Getting KILLED - page 2. (Read 1536 times)