Gold Price Discussion

[user 4386]

Depends how you look at it,,,,,,,
Foreign debt at its highest level,
More people going bankrupt than ever before,
Infastructure falling apart.
More people falling below the poverty line than ever before,
Geez has flint michigan even got fresh water yet? its been years.

compared to,
500 million bought out of poverty,
world leaders in renewable tech
and the real clincher, something like 90% of rare earth metals which it really doesnt need to trade

Our future is with China we just havnt realised it yet.

Not sure what your first comments relate to, USA? (especially Flint, Michigan - China has horrific pollution).

China has achieved a lot in a short time, for which it deserves major credit (it may soon have a life-span for its people as long as in the USA). However its economy is potentially shaky as well - its State owned Enterprises are a risk. It has built cities that are empty - no people as there is no associated industry. A major part of our economic future is no doubt with China - but there is more to one's future than just trade (it is not strong on human rights). China has moved much of its population into the cities from the countryside - this means civil unrest is a huge risk in a major economic downturn. Also exports are not everything (USA has a large internal economy).

Rare Earths are not even a minor factor - this is a misconception and absolutely no clincher. Rare Earths are not rare around the world. China used to supply most because it could do so cheaply (same as we only have part of the world's iron ore - but we mine it very economically). China overnight imposed restrictions on exports of its rare earths and the world was not ready - however mines are now developing all over the world, and China will have no advantage. It would be like saying Australia has all the world's lithium (we are the world's largest producer of this important metal for batteries, and produce six and a half times as much as China - one of the largest lithium battery producers). But if we stopped, new mines would open all around the world - Spain, Portugal, Chile, Nevada....

 

[user 4386]

oh your using a list 12 mths old,,,,,
as it said in the vid i posted,,,,,, they now own more gold than usa....
but fox prob disagrees......

As I said - you should be careful of your sources, as many of these news reports are just poorly-researched nonsense - and my graph is to the end of Jan 2019, which is six months ago. They only bought 33 tonnes in total for January, March and April (an average of 11 tonnes per month). Since then (3 months) they have been buying at 50 to 60 tonnes per month, which still leaves them little more than a quarter of US reserves. Although your video says China only boosted reserves by less than 0,3 tonnes in July (also nonsense - too low). They sell hundreds of tonnes of the gold they produce every year, as do USA, Russia and Australia (but of course that is not gold held in their reserves, but is available for their reserves to buy - and is still paying debt, one should not confuse government debt versus private debt and balance of payments).

Why do I say you should be careful of your sources? Your video is from RT America "RT America is a U.S.-based pay television news channel which is part of the RT network, a global multilingual television news network based in Moscow, Russia, funded by the Russian government. The channel is registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. A 2017 report by the United States Intelligence Community characterized RT as "The Kremlin's principal international propaganda outlet"

 

[user 4386]

oh your using a list 12 mths old,,,,,
as it said in the vid i posted,,,,,, they now own more gold than usa....
but fox prob disagrees......

As I said - you should be careful of your sources, as many of these news reports are just poorly-researched nonsense - and my graph is to the end of Jan 2019, which is six months ago. They only bought 33 tonnes in total for January, March and April (an average of 11 tonnes per month). Since then (3 months) they have been buying at 50 to 60 tonnes per month, which still leaves them little more than a quarter of US reserves. Although your video says China only boosted reserves by less than 0,3 tonnes in July (also nonsense - too low). They sell hundreds of tonnes of the gold they produce every year, as do USA, Russia and Australia (but of course that is not gold held in their reserves, but is available for their reserves to buy - and is still paying debt, one should not confuse government debt versus private debt and balance of payments).

Why do I say you should be careful of your sources? Your video is from RT America "RT America is a U.S.-based pay television news channel which is part of the RT network, a global multilingual television news network based in Moscow, Russia, funded by the Russian government. The channel is registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. A 2017 report by the United States Intelligence Community characterized RT as "The Kremlin's principal international propaganda outlet"

They also don't know the price of gold or are quoting in some unknown dollar currency (try to relate China's and America's supposed gold stocks to the values they give to them in billions of dollars)!

 

[user 4386]

I see what is meant above by sanctions on Germany - NordStream2 pipeline . No, it is supposedly sanctions being considered on companies building the Nord pipeline from Russia to Germany, not sanctions against Germany. It was already 60% complete at the start of 2019 and is intended to be in operation by late 2019 (although now behind schedule - the section off Sweden will complete in October). So the US seems a bit late, since they still have not signed off on company sanctions, and all pipes have left Russia and are being stored in Germany. It is a method the USA has been using under Trump, throwing its economic weight around to penalise companies working there and in Iran, in contravention of the USA's own sanctions (not UN sanctions), but it is meeting resistance.

https://subseaworldnews.com/2017/12/12/nord-stream-2-on-track-for-completion-in-2019-gazprom-says/

The NordStream 1 pipeline is already in operation and this simply increases capacity Russia can deliver. The reasoning is obvious - it means that if supplies through the Ukraine are disrupted, gas will still flow to Europe and Russia will still earn from it (but it makes Ukraine more vulnerable).

 

[Brutus and me]

ok we are sort of getting off the subject in a roundabout way lol.
About gold prices....
I stand by everything i have said,,,
be that moving away from the usa dollar....
through tariffs, sanctions, populations being told how they can trade.
It will happen.
So buy buy buy

 

[Brutus and me]

Why do I say you should be careful of your sources? Your video is from RT America "RT America is a U.S.-based pay television news channel which is part of the RT network, a global multilingual television news network based in Moscow, Russia, funded by the Russian government. The channel is registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. A 2017 report by the United States Intelligence Community characterized RT as "The Kremlin's principal international propaganda outlet" smile

yes i understand. I dont believe everything i hear from RT, But i believe nothing i hear from FOX or CNN.

 

[user 4386]

Why do I say you should be careful of your sources? Your video is from RT America "RT America is a U.S.-based pay television news channel which is part of the RT network, a global multilingual television news network based in Moscow, Russia, funded by the Russian government. The channel is registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. A 2017 report by the United States Intelligence Community characterized RT as "The Kremlin's principal international propaganda outlet" smile

yes i understand. I dont believe everything i hear from RT, But i believe nothing i hear from FOX or CNN.

Me either. the Trump network - which is why I supplied info from none of these - it is actually absurd for any organisation to suggest that China has reserves greater than China (there just isn't enough gold available for them to buy so much in such a short time). So we'll have to agree to disagree on that one, but I just suggest that you check independent sources.

You said it is getting of the topic, but I have to disagree - it is misinformation like this that affects how people view the gold price. Because of course it is linked to ideas of China getting its own standard etc, or trying to corner the market in gold - ideas mostly spread by people wanting to benefit from uncertainty pushing up the gold price. At the moment they don't need any help - there is real uncertainty. It is just the reasons for it that I question. There is reason to criticize China (about the only thing I agree with Trump about) and America thinks it can ride out the Trade War with government subsidies and its large internal economy. I am uncertain of that, but I do know that it will blow back on those of us without the ability to use either. But China's re-education camps and social points system and citizen surveillance is not something I want imposed on us by its future economic might - possibly the rise of India will offset that. But I doubt that America is in major decline although I suspect shorter term major economic issues - it is just having to learn to share power.

 

[Brutus and me]

https://www.youtube.com/watch?v=NavvlRn2bQo

Again no matter how much you believe its all good for gold

 

[Brutus and me]

not about china getting its own standard,,,,,,
its about countries moving towards gold as the standard,,,
Thats happening

 

[user 4386]

https://www.youtube.com/watch?v=NavvlRn2bQo

Again no matter how much you believe its all good for gold

https://nationalinterest.org/blog/b...-aircraft-carrier-or-big-battlecruisers-55922

What navy? But yes, the price rises on rumour and misconceptions as well as fact.

 

[user 4386]

not about china getting its own standard,,,,,,
its about countries moving towards gold as the standard,,,
Thats happening

I was giving one rumour going the rounds, not giving it as fact. The amount of gold in existence could not cover a fraction of the non-gold debt etc, . so a gold standard is highly improbable. But that is a different issue to the price going up, and it certainly is a great time to already own gold.....

 

[Brutus and me]

Lol again not really the point.
Nothing compares to the USA navy.
Its more about friendships, trade, deals
Like i said all good for gold

 

[Brutus and me]

Instead of looking at it to prove me wrong look at it from a gold price

 

[Brutus and me]

Half the worlds population believes what they see on fox or cnn,
but they dont think of the other half that believe everything from rt and cgtn

 

[Brutus and me]

"RT America is a U.S.-based pay television news channel which is part of the RT network, a global multilingual television news network based in Moscow, Russia, funded by the Russian government. The channel is registered as a "foreign agent" with the United States Department of Justice under the Foreign Agents Registration Act. A 2017 report by the United States Intelligence Community characterized RT as "The Kremlin's principal international propaganda outlet" smile

lmao,, your point.
So your saying an agency you cant believe a thing from is saying you cant believe anything from another agnecy?
I want alot more than a US agency telling me of WMD's or a Guiado half Venz have never heard of or a gas attack in Syria

 

[Brutus and me]

Ok maybe not gold as the standard but if a dozen start trading in gold its good for gold prices.... which is my point from the start

"But China's re-education camps and social points system and citizen surveillance is not something I want imposed on us by its future economic might"
Why would they? Does the USA impose its relocation of kids from parents, all major cities under surveillance or terrible health care and social securities on us???
What are you basing this on? Who does China impose there will on but there own? Can you say the same for the USA?
We can talk about Israel or Saudi also yeah? but hey lets keep the focus on what asses china is

 

[Trash]

Topic : Gold price

- Gold will keep going up erfect:

 

[Swinging & digging]

My concern is as the price increases and more people get into detecting, gov will try to take it off us or tax hobbiest or ban us from looking for it.

Totally agree with you on that the Higher the Gold price and the more publicity brings in more and more who will soon realise gold is not easy to find? The big trouble starts when laws and regulations are broken. Here in Victoria we enough issues with pending access closures to large areas.

 

[StoneTheCrows]

So do you think it is still worth investing in gold this late in the year.

Some have stated that the price could go up to AU$3000 per ounce this year.

If I was to buy gold now (for arguments sake lets say AU$100k) would that be a good investment.
The math says yes on the surface but not sure with investments how much tax and fees would cost.

 

[Swinging & digging]

As gold is currently trading at an all-time high in AUD, it may not be the best time to invest in gold?
I have seen the price drop significantly after the all time high in 2011.

Like any investment there is a risk the asset you purchase may fall in price and take years to recover?
I would not take any individuals advice on here as per investment as opinions vary widely and no person
has a crystal ball?

Fees, Gold has a spot price which is the price that gold is priced at, there are fees added on to buy and sell transactions.
Under current ruling in Australia if you purchased gold now as an investment and sold within 12 months the profit minus
the fees are charged as income tax. Hold for more than 12 months the taxable amount is calculated by subtracting the fees
from the profit, then applying a 50% discount, then your taxed at your current marginal rate.

Like anything you have to consider what you can afford to invest, your risk profile and current tax position etc.