Gold

[Protheroe]

The markets don't lie. 

Inflation is on the way.

https://www.bullionbypost.co.uk/gold-pri...e-history/

[SausEggBaton]

Gordon Brown sold all of ours.

[Baggybenny]

Gordon Brown sold all of ours.

I suppose Proth. being as smart as he is, bought it

[Shabby Russian]

you're indestructible, always believe in your soul.



Strange thing gold, you can't eat it, it won't keep you warm, it doesn't really make anything functional, it's sort of not important. It doesn't strike me as anything that is that scarce.

Yet it's so valuable. Makes you wonder about us, don't you think?

[Protheroe]

Yet it's so valuable.

In a world of zero interest rates, suppressed growth, suppressed wages and negative bond yields gold is a powerful store of value.

As interest rates and negative bond yields will be locked in by self serving governments and their rancid central bank partners the argument for gold has never been stronger.

Over $1900 / oz this morning. Lump on $2000 / oz before the year's out.

[Baggybenny]

Some figures I read the other day.
About 80% of all gold ever hewed out of holes in the ground is currently stashed in vaults in holes in the ground !

[Protheroe]

$1997 /oz today. Should break $2000 /oz in days.

Dollar losing value too, zero confidence in Trump.

[Borin' Baggie]

$1997 /oz today. Should break $2000 /oz in days.

Dollar losing value too, zero confidence in Trump.

There's been confidence above zero for Trump?

[fuzzbox]

A genuine question.

Does gold have any use that justifies it's value?

I can see that commodities go up or down based on their usage, but from where I'm looking, gold itself, like paper currency, isn't actually worth much money as a commodity.

It seems to me that gold works not as a commodity but as a currency - except it tends to go in the opposite direction of whichever is the powerful 'holding' currency.

Gold goes up or down based on market fears rather than it's own intrinsic 'value', doesn't it? That would make it a great 'hedge' in troubled times.

Is there any other 'medium' that works in a similar way or is gold unique? What about silver and platinum?

For clarity, I'm not saying it's wrong to buy gold - quite the opposite given current events - just wondering if I'm missing something....

[Protheroe]

Gold is a hedge against inflation and / or currency debasement.

As I've said previously - in a world of negative bond yields, trillion dollar national debts, dividend cuts and zero interest rates you have to ask whether anything based on the fiat money system has any intrinsic value. Gold is limited in supply, you can't print it like money.

Now it's broken through long term resistance at $1800 I suspect it might reach $2300 by the time of the US election, and perhaps more afterwards given the promises both idiots will be making.