I hold a lot of pyhsical gold so I want it to go up long term. Short term I don't care
Atilla
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I'm always intrigued by people who hold a lot of gold.
If one wants the price of gold to go up, then surely you are in favour of Central Banks printing lots of money. Does that mean you support fiat currencies?
If we didn't have fiat currencies, then how would one value the price of gold?
Then there is that other option, you hold gold to store your wealth so it is not eroded by inflation. But there lies the confusion again, are you storing wealth or using your wealth in the purchase of gold as a speculative investment to make your capital grow.
Gold in it self carries risks and has a cost of holding it. Have you considered what the opportunity cost of holdig gold is? Or is it the case that one is very wealthy and gold is just another asset in a class of assets for maintaining and demonstrating ones wealth?
Gold that shiny tink always a fascination...
If one wants the price of gold to go up, then surely you are in favour of Central Banks printing lots of money. Does that mean you support fiat currencies?
If we didn't have fiat currencies, then how would one value the price of gold?
Then there is that other option, you hold gold to store your wealth so it is not eroded by inflation. But there lies the confusion again, are you storing wealth or using your wealth in the purchase of gold as a speculative investment to make your capital grow.
Gold in it self carries risks and has a cost of holding it. Have you considered what the opportunity cost of holdig gold is? Or is it the case that one is very wealthy and gold is just another asset in a class of assets for maintaining and demonstrating ones wealth?
Gold that shiny tink always a fascination...
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You have probably gone into the pyshcological reasons of holding gold, I just care about value and I have done very well from when I bought it.
new_trader
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Are these rhetorical questions? E.g. I don't understand why investors in Bitcoin think it's different to other crypto currencies!
Or,
Do you genuinely not understand anything about gold? E.g. I don't understand wave-particle duality in physics and chemistry, where light and matter exhibit properties of both waves and of particles.
Atilla
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Ahhh Mr Goldfinger, there you are... Thought you'd catch on being a fiat currency lover that you are... Love the golden bull.
It was just that a dangerous thought flashed up in my mind. With all the BitCoin and Gold hype that people get really excited about, i.e. what they are worth in fiat currencies, whilst both in some respects aim to do away with the currencies. What if we had no currencies?
My question and thoughts are sincere that - I genuinely wondered what would happen if we had no fiat currencies and just had gold or Bitcoin how items might be valued then?
In the absence of currencies - would we then have an exchange rate between the two of them? As more supply of gold comes into circulation, I'd guess the price of gold would then depreciate against BC.
We could go back to gold backed Dollar standard but that does seem like a dream. Perhaps more a case of a gold backed Yuan standard in another few decades time. Or even BC backed dollar standard.
So this is what I was thinking about...
Venezuela's Bitcoin Story Puts It in a Category of One
Venezuela’s peer-to-peer bitcoin activity has been extraordinary, whether measured as an absolute or relative to GDP, according to CoinDesk Research data.
Good afternoon, Gold is the pair for today. We had a great run on Gold buying it up from the weekly demand zone . Banked thousands of pips along the way and gained great % for the trading account. But the bull run came to the end recently with the FOMC bullish UDS news. Last trade was stopped out at break even, and we saw price drop hard down to the 1761 level. This is a small daily demand area where we could see a small push back up. But I think we might see price get squeezed into a corner from here before another push north from the trend line below or maybe a dip back into the weekly demand area, which we know is a great price to buy from. Patience for this pair now to buy at a good area. I have marked out my areas of interests to follow along. GLIYF
Good morning all. Having a look back on gold today and taking a look at the weekly time frame. Sometimes its better to analyze your charts from higher up as it give us a much clearer perspective of what's going on. Last time we bought from the monthly demand zone and managed to bag thousands of pips. Then we get a couple of bearish weeks and everyone thinks gold is going to the floor. As we can see clearly on the weekly we are still in bullish territory. Haven't made a lower low or broker long term trend yet. This is still a good place to buy from for me. As long as you don't over leverage you can buy and hold your position for good profits. Looking to see gold back in the $2k price. GLIYF
New week begins and having a look back on gold today. Price made a low then a lower low, but since price has come up to make equal highs. Its possible we may see a drop here in price or it may go a touch further up to trick people into buying before another drop. But I think the drop's in price will be short lived down to the demand area which we know to be very strong. That's where I will be looking to get back in on the buys. If not we may see strength come into gold and push back above the trend line and retest and continue up further. Either way we will be ready GLIYF
kevinberry
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I have full faith in gold always. It is very much stable and a good long term investment.
You trade it or invest it? Or both?
what will this mean for the market?
ducati996
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Well given that the implementation on 1 Jan. 2022 was effectively going to end the paper gold market, with a corresponding rise in the POG, failure to implement would, you would think, negate the bullishness.
Possibly however, given that it is a unilateral exemption to the London market, removing the other Bullion Banks, Europe/US, the paper gold market shrinks significantly enough that POG rises anyway.
Anyway, it is only a rumour, unconfirmed atm.
jog on
duc
Interesting, thanks.
Good morning all, got a little trade setup for GOLD . I was expecting price to fall back to the demand area near the trend line , but as we can see price has broken out back above the trend line . Looks like the bull may be continuing its course. So we are looking to buy back in if we get a retest of the break. It may be the case we don't get a retest of the break so will be looking to buy from the other area's of interest above zones. Mark your levels up and keep watching for your entry. GLIYF
