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Post by unlawflcombatnt on Feb 7, 2006 16:01:11 GMT -6
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Post by graybeard on Feb 26, 2006 11:14:08 GMT -6
As a comparison to the above, it was a year ago this week I invested in FSAGX, a mutual fund consisting of gold holdings and gold mining. It is up 50% in the year - better than gold itself. What is the risk of this vs. having gold to store and guard? GB
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Post by lc on Feb 26, 2006 20:24:40 GMT -6
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Post by theLIBERTARIAN on Feb 27, 2006 1:30:03 GMT -6
My dad has owned gold stocks for decades. He is now smiling, but it has not always been that way.
Greenspan has said that inflation is caused by Federal Deficit Spending. He did not just raise rates to cool the economy. He also made a deal with Clinton promising to keep rates down as long as Clinton kept the deficit spending low.
The economy did great under Clinton. Now rates are going up. I don't know the new Fed's views. Gold will probably do well for the next 5 years or so, I bet.
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Post by unlawflcombatnt on Feb 27, 2006 16:32:53 GMT -6
My dad has owned gold stocks for decades. He is now smiling, but it has not always been that way. Greenspan has said that inflation is caused by Federal Deficit Spending. He did not just raise rates to cool the economy. He also made a deal with Clinton promising to keep rates down as long as Clinton kept the deficit spending low. The economy did great under Clinton. Now rates are going up. I don't know the new Fed's views. Gold will probably do well for the next 5 years or so, I bet. Libertarian, Thanks for stopping by. Did your father mention which gold stocks he has? At least one company I heard about claims to be mining gold for less than $150/ounce, which was much less than I'd heard previously. Do you have any information on this? (Also, I wanted to let you know that if you want to get an email notification of a response, you need to check the "bookmark" box under your post.)
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Post by unlawflcombatnt on Apr 6, 2006 13:50:08 GMT -6
One way to follow the the fluctuation of the U.S. dollar against the Euro is to watch prices changes of Gold in both Euros and U.S. Dollars. Measured over the entire year, the price of gold increase less in U.S. Dollars than it did in Euros. Which indicates that the dollar actually rose in value compared to the Euro over the last year. However, this trend has reversed over the last 6 month. Ove the last 6 months, gold prices have increased more in U.S. dollars than Euros. From the partial charts below, it can be seen that the 6-month increase in Gold prices in U.S.D.s was 24.5%, but only 22.6% in Euros. Over the last 1 month, the trend has become more noticeable. The price of gold in U.S. Dollars has increased 6.3%, while increasing only 2.3% in Euros. The one month change can be better visulized from the graph below. The biggest changes appear to have occurred starting at the end of March. The dollar has once again resumed devaluation trend again.
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Post by unlawflcombatnt on Apr 19, 2006 23:53:17 GMT -6
One way to follow the the fluctuation of the U.S. dollar against the Euro is to watch prices changes of Gold in both Euros and U.S. Dollars. Measured over the entire year, the price of gold increase less in U.S. Dollars than it did in Euros. Which indicates that the dollar actually rose in value compared to the Euro over the last year. However, this trend has reversed over the last 6 month. Ove the last 6 months, gold prices have increased more in U.S. dollars than Euros. From the partial charts below, it can be seen that the 6-month increase in Gold prices in U.S.D.s was 24.5%, but only 22.6% in Euros. Over the last 1 month, the trend has become more noticeable. The price of gold in U.S. Dollars has increased 6.3%, while increasing only 2.3% in Euros. The one month change can be better visulized from the graph below. The biggest changes appear to have occurred starting at the end of March. The dollar has once again resumed devaluation trend again. Though the above is from less than 2 weeks ago, it is markedly out of date. Gold closed today (4/19/06) at $640/ounce, or an increase of about 9% since April 6th.
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Post by unlawflcombatnt on Apr 21, 2006 16:27:11 GMT -6
Gold prices have increased 15% in the last month, and 35% in the last 6 months. Kitco30dGoldPriceKitco6monthGoldPriceFor the year of 2005, Gold demand in tons increased 7%. Gold demand in dollars increased $53.6 billion, or 16%. This information can be found as a pdf file from the WorldGoldCouncil. It's interesting to note from the World Gold Council report that gold prices increased significantly in 2005, despite the fact that supply increased more than demand. Normally this would decrease the price, but apparently the price increase was sufficient to reduce the quantity of gold demanded. It's also worth noting that the World Gold Council's prediction of price declines in the 1st quarter has already been proven wrong. The council predicted a price decline of 1.6% in the 1st quarter of 2006. However, prices increased 10% during the 1st quarter. This latter information can be found at Gold 2006 PricesThough the World Gold Council is predicting a decline in gold demand and an increase in supply, this should be taken with a grain of salt, considering they've already misjudged the gold market for the 1st quarter.
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Post by reltuc on Jun 28, 2006 2:58:15 GMT -6
reltuc and look what has happened since then...
we need a new sort of economics, one that implicitly counts and ratio adjustes in a way that selects for integrity, justice, ecological sustainability, and other ethics that will benefit all human and earth kind... it must reward innovation, invention, and effort, and never at the expense of others... it's begining to be possible to see how it could work.
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Post by gaomines on Jan 2, 2007 12:45:41 GMT -6
We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali. We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$8,000usd per kilo.Interest clients should contact us for more details. Regards, Mr.Tidiane Seydou
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Post by gaomines on Jan 2, 2007 12:47:02 GMT -6
We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali. We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$8,000usd per kilo.Interest clients should contact us for more details. Regards, Mr.Tidiane Seydou
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Post by gaomines on Jan 2, 2007 12:48:31 GMT -6
We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali. We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$8,000usd per kilo.Interest clients should contact us for more details. Regards, Mr.Tidiane Seydou
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Post by unlawflcombatnt on Jan 2, 2007 14:57:28 GMT -6
We are local gold miners from Gao District in Bamako Mali,we are one of the leading local gold miners in gold mining industry in Bamako Mali. We provide equity and quality services to all our clients. quality of our gold is one of the best in Bamako Mali ;22carat plus, with purity of 93.5%or better , price,$8,000usd per kilo.Interest clients should contact us for more details. Regards, Mr.Tidiane Seydou Mr. Seydou, By my calculations, the price comes out to approximately $256/ounce. Is that correct? If that's correct, I would like some more details. unlawflcombatnt
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Post by graybeard on Jan 4, 2007 8:28:24 GMT -6
Sounds too much like a Nigerian scam to me.
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Post by unlawflcombatnt on Jan 6, 2007 14:52:55 GMT -6
Graybeard,
That's a good point. It'll be interesting to see what details he can provide. From commentary I've previously read, $256/oz is in the general range stated for the cost of mining 1 ounce of gold. Some mines reportedly can extract it for less, others more.
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Post by xtra on Feb 12, 2007 23:40:22 GMT -6
As a comparison to the above, it was a year ago this week I invested in FSAGX, a mutual fund consisting of gold holdings and gold mining. It is up 50% in the year - better than gold itself. What is the risk of this vs. having gold to store and guard? GB but Enron dealt in paper too, computer paper.
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Post by unlawflcombatnt on Feb 13, 2007 15:04:22 GMT -6
As a comparison to the above, it was a year ago this week I invested in FSAGX, a mutual fund consisting of gold holdings and gold mining. It is up 50% in the year - better than gold itself. What is the risk of this vs. having gold to store and guard? GB but Enron dealt in paper too, computer paper. "Paper" is the key concept here. (I also realize that I never answered Graybeard's original question.) The difference between investing in gold mutual funds, as opposed to investing in solid gold that you actually take possession of, is that the mutual funds are simply a paper "claim" of ownership, while owning (and possessing) gold coins is true ownership of something of value. A mutual fund can always lose money, and can also refuse to honor your paper claim to gold. Though it is not "legal" for them to do so, it can be difficult to make them honor a claim if they get in financial trouble. And it is impossible to get them to honor a claim if they file bankruptcy protection. (Which is becoming increasingly more common.) If someone else is holding your gold, they can find ways not to deliver it, or at least delay delivery. This is not just a "theoretical" concern. I've already had it happen to me. Much gold that is sold to buyers is "leased" gold. It is gold borrowed from an original source, where the leaser pays only a small fraction of the cost of the gold to possess it. The leased-gold sellers actually have to re-buy the gold they sold earlier at a later date to pay back the party they originally leased it from. When they sell gold to buyers, they hope that the price will go down, so that when they buy the gold back later, the price will be lower which will leave them with a profit from the original sale of gold to a consumer. Needless to say, it's much easier for the leased-gold seller if the final buyer/consumer does NOT request delivery. If the leased-gold seller does deliver the gold to the buyer, and if the price continues rising (instead of falling), he has to replace the gold he sold the consumer by purchasing the same quantity of gold again at a higher price. In contrast, if the end buyer-consumer does not demand actual delivery, the leased-gold buyer doesn't have to re-buy gold at a higher price. He still has the original gold. He could always refund your money for the gold, instead of actually delivering it to you, and return the gold to the original leaser, losing only the gold-leasing fee he paid. The seller of the leased gold can also declare bankruptcy, and never return any of your money. (I've already had this happen to me.) The point here is that you don't truly own gold until you actually have it in your hands. Unless you actually have it in your possession, you own nothing but a paper claim to gold, which is no different than a paper claim to a stock. And if you lost money in the 2001 crash, you already know how little value such paper claims actually have.
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