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juniper
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PostPosted: Fri May 10, 2013 8:23 pm    Post subject: anyone buy gold? Reply with quote

it's dropped. I wonder if it will recover.
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Naib
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PostPosted: Fri May 10, 2013 9:34 pm    Post subject: Reply with quote

why would you want it to recover?

either some other commodity is spiking OR confidence in currencies are returning
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pjp
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PostPosted: Fri May 10, 2013 11:44 pm    Post subject: Reply with quote

Paper gold has dropped, largely due to The Man *cough*large bank(s)*cough* forcing the price down. Physical gold hasn't changed much. Which is strange, since demand has gone up, so the price _should_ be going up.
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dmitchell
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PostPosted: Sat May 11, 2013 12:32 am    Post subject: Reply with quote

I don't buy gold. When you say it has dropped, I think it's important to say what your point of reference is.
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Bones McCracker
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PostPosted: Sat May 11, 2013 1:34 am    Post subject: Reply with quote

If you have money in mutual funds, you probably own some gold and don't know it.
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sikpuppy
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PostPosted: Sat May 11, 2013 4:20 am    Post subject: Reply with quote

Buy one ply toilet tissue and in addition to saving money you will strike gold on every use.
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wildhorse
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PostPosted: Sat May 11, 2013 10:45 am    Post subject: Reply with quote

That green toilet paper in particular is worth more than gold. :lol:
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ratmonkey
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PostPosted: Sat May 11, 2013 1:58 pm    Post subject: Reply with quote

dmitchell wrote:
I don't buy gold. When you say it has dropped, I think it's important to say what your point of reference is.


September 5, 2011 - $1895 an ounce

May 11, 2013 - $1448 an ounce

Gold has been on the decline for the last year and a half. It was a bubble. Same thing happened in the in the 70's. Gold had a good run up, peaked around 1980, and then lost half it's value over the next couple years and stabilized more or less for the next 20 years.

Seems like a good way to predict a bubble is watch for whatever trend the non-professional layman investors are dogpiling.
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notageek
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PostPosted: Sat May 11, 2013 2:06 pm    Post subject: Reply with quote

They've introduced new excise duty (doubled) on gold imports in India. India is the largest importer of gold and because of this new tax, gold demand has dropped.

So, yeah, I didn't buy gold.

And lolgov.
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pjp
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PostPosted: Sat May 11, 2013 4:33 pm    Post subject: Reply with quote

ratmonkey wrote:
Gold has been on the decline for the last year and a half. It was a bubble. [...]

Seems like a good way to predict a bubble is watch for whatever trend the non-professional layman investors are dogpiling.
You mean the banks complicit in the economic crisis are the ones to be trusted regarding paper gold, something they resell 10 times over what they actually have? Is it a bubble if governments spend beyond their means to the point of economic collapse?
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ratmonkey
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PostPosted: Sat May 11, 2013 5:00 pm    Post subject: Reply with quote

pjp wrote:
ratmonkey wrote:
Gold has been on the decline for the last year and a half. It was a bubble. [...]

Seems like a good way to predict a bubble is watch for whatever trend the non-professional layman investors are dogpiling.
You mean the banks complicit in the economic crisis are the ones to be trusted regarding paper gold, something they resell 10 times over what they actually have? Is it a bubble if governments spend beyond their means to the point of economic collapse?


What the fuck are you on about...? I pointed out that gold prices being on a downward trend look like a documented historical event. Then I opined that market bubbles tend to burst when everyone and their mother tries to cash in on a runaway market trend. I did not mention banks or the government.
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pjp
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PostPosted: Sat May 11, 2013 5:57 pm    Post subject: Reply with quote

Bubble = non-professional dogpiling (professional, aka big banks).
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aidanjt
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PostPosted: Sat May 11, 2013 6:33 pm    Post subject: Reply with quote

ratmonkey wrote:
Seems like a good way to predict a bubble is watch for whatever trend the non-professional layman investors are dogpiling.

Yeah, when I saw the Cash4Gold stalls set up in town a few years ago it was a sure sign the bubble was going to start getting pumped mighty.
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Last edited by aidanjt on Sat May 11, 2013 10:02 pm; edited 1 time in total
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Bones McCracker
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PostPosted: Sat May 11, 2013 8:52 pm    Post subject: Reply with quote

Speculators know they are engaging in speculation. It doesn't matter to them whether the rush to buy something is irrational or not. All they care about it buying low and selling high.
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tylerwylie
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PostPosted: Sat May 11, 2013 10:47 pm    Post subject: Reply with quote

Picked up some silver mostly. Not much in gold, too expensive for my blood.
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wah_wah_69
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PostPosted: Sat May 18, 2013 8:29 pm    Post subject: Reply with quote

Gold vs bitcoin:

http://politicalmetals.com/gold-silver-priced-in-bitcoins/
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Bones McCracker
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PostPosted: Sun May 19, 2013 1:46 am    Post subject: Reply with quote

:lol:
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