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Gold hits all time high

goldprice.org

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Re: Gold hits all time high

#51

Post by edschofield »

snickerbockers wrote: post #19

What is it about gold, anyways? None of its useful properties were known until recently (and mostly overhyped and upsold tbh, at least as far as those stupid cables go). Are we really just instinctively attracted to shiny metals? Or do people like it as a status symbol? (not to act like im above it all, i still have my gold-plated pokemon jigglypuff trading card from burger king in 1999 and i often use golden paint o…

Here's an interesting way to understand it:

https://pricedingold.com

The true value of gold is quite stable over time (since new gold is mined at a slow rate). Fiat currencies are constantly being debased. Hard assets fluctuate up and down relative to gold.

Re: Gold hits all time high

#52

Post by roxolotl »

gwbas1c wrote: post #37

If you want to understand what's going on, I strongly recommend reading Principles for Navigating Big Debt Crises by Ray Dalio. The book is highly researched and explains the pattern we're in, and what we'll see next. https://www.amazon.com/Principles-Navigating-Big-Debt-Crises...

And if you don’t have time to read it Ray was on Odds Lots in the spring and laid out the gist. https://pca.st/episode/c2eae258-c051-4cd1-87f6-0410e2eb926c

Re: Gold hits all time high

#53

Post by pknerd »

Question from experts: I have been itching to buy silver and hodl it for a year or two.. Maybe more..should I buy it? Will there be more consumption in coming years?

Re: Gold hits all time high

#54

Post by r_lee »

jeffrallen wrote: post #18
EgregiousCube wrote: post #13

Earlier quoted context omitted.

Exactly - when equities, commodities, prices of goods, crypto, .... are all up, this tells us that the real situation is that currency is down.

Or that rich people need to pay more taxes. Cc: Gary's economics @ youtube

That is what he means... Inflation of all assets caused by bad fiscal policy and both deregulation and regulation causing most of the money to only move around in the upper echelons of society

this really can't keep going on forever. the weekly "ATH" and everything going up is like a pressure bomb that keeps getting pressurized more and more each day.

And because this is all assets, the more assets you already have, the more you gain. And the central banks/etc. will make sure the party keeps on going for you.

Re: Gold hits all time high

#55

Post by danielodievich »

snickerbockers wrote: post #19

What is it about gold, anyways? None of its useful properties were known until recently (and mostly overhyped and upsold tbh, at least as far as those stupid cables go). Are we really just instinctively attracted to shiny metals? Or do people like it as a status symbol? (not to act like im above it all, i still have my gold-plated pokemon jigglypuff trading card from burger king in 1999 and i often use golden paint o…

Gold has always had value to humans because it is very non-reactive and doesn't corred, and it was easy to smelt and work with since prehistoric times. It is also one of very few metals that is not boring gray/silver. It therefore has always been part of ornamentation and religion. In last century it became useful due to its great conductivity, and so it's used in semiconductors. If you have a gilded book at home, also gold.

Re: Gold hits all time high

#56

Post by AnimalMuppet »

snickerbockers wrote: post #19

What is it about gold, anyways? None of its useful properties were known until recently (and mostly overhyped and upsold tbh, at least as far as those stupid cables go). Are we really just instinctively attracted to shiny metals? Or do people like it as a status symbol? (not to act like im above it all, i still have my gold-plated pokemon jigglypuff trading card from burger king in 1999 and i often use golden paint o…

Basically, the chemical composition of the earth's crust isn't going to change any time soon. That means that the supply of gold is going to increase only slowly.

In contrast, Trump has been making noises about wanting to replace Powell as chair of the Fed, because Powell won't dance to Trump's tune. I do not want a world where Trump can determine (even if indirectly) the value of the dollar, or the interest rate, or anything in that vicinity.

So I trust the dollar a lot less than I did six months ago. In contrast, gold doesn't care what Trump's policy is.

Re: Gold hits all time high

#58

Post by lottin »

paxys wrote: post #25

Gold, silver, stocks, real estate, Bitcoin, baseball cards, fine art, Rolexes - everything is trading at or near their all time highs. The value of the US dollar is simply going down.

As expected. This is why we don't use nominal dollars for measuring changes in prices over long time periods. It's meaningless.

Re: Gold hits all time high

#60

Post by glial »

vladimirralev wrote: post #27

Good time to remind everybody that the Fed, the US central bank, prices gold at $42.22 for some reason and nobody questions it ever. And all those dignified educated respectable board members and econ PhDs give speeches about science-based market economy, maintaining credibility and staying away from politics while caring about the wellbeing of households and families.

> nobody questions it ever

Seems like anyone who buys or sells gold at any other price is questioning it.

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