Goldprice all times high 1655 EUR Oz !!

[aage]

I just took a check on the gold price. It's up to 1655 euros, per Oz, it's the highest I've seen.

 

[JohnnyDoe]

$1860ish per oz. 10 years performance: zero %.
Compare with bitcoin’s 10 years performance

 

[zzzzzz]

I just took a check on the gold price. It's up to 1655 euros, per Oz, it's the highest I've seen.

ATH was around Aug 6, 2020: ~ 1750 eur / 2075 usd

 

[aage]

$1860ish per oz. 10 years performance: zero %.
Compare with bitcoin’s 10 years performance

yeah bitcoin did much better the last 10 years compared to Gold. But at least Gold will not disappear over night

 

[JohnnyDoe]

yeah bitcoin did much better the last 10 years compared to Gold. But at least Gold will not disappear over night

And it will not be banned by China for 5 or 6 times LOL

 

[Golden Fleece]

$1860ish per oz. 10 years performance: zero %.
Compare with bitcoin’s 10 years performance

You cannot compare insurance with a speculation. They have completely different purposes and risk profiles.

 

[JohnnyDoe]

You cannot compare insurance with a speculation. They have completely different purposes and risk profiles.

An insurance never loses its value. Gold can and does it all the times. If you are so sure about what you say, just sell gold puts.

 

[Au999]

An insurance never loses its value. Gold can and does it all the times. If you are so sure about what you say, just sell gold puts.

Gold doesn't lose value, the currencies it's priced in fluctuate. An ounce of gold will always be an ounce of gold for all eternity, a bitcoin or nft on the other hand...

 

[FlipnShip]

An insurance never loses its value. Gold can and does it all the times. If you are so sure about what you say, just sell gold puts.

Gold is a hedge for deteriorating trust in government and (the financial system). If you have gold exposure and hold it as an insurance, it makes little to no sense having paper claims against financial institutions in such a scenario.

One`s portfolio should be split between multiple tangible assets and not just a single one. Stocks (bet on the current system), crypto (speculation on a new system) and precious metals (insurance).

 

[369]

I bet everything that golds performence at the end of next 4 years will be WAY better than bitcoins

 

[FlipnShip]

I bet everything that golds performence at the end of next 4 years will be WAY better than bitcoins

Decent probability for that scenario. I would assume first enough people have to be lured in though, so we can party like it is 1999.

At the current stage a reasonable allocation in crypto should be held though.

 

[JohnnyDoe]

I bet everything that golds performence at the end of next 4 years will be WAY better than bitcoins

It’s easy to short bitcoin! Do it and let’s talk again in 4 years.

 

[369]

It’s easy to short bitcoin! Do it and let’s talk again in 4 years.

You have completly no understanding about gold and its future role.
Bitcoin is a trojan which is going to ZERO when gold will shine.......
Mark my words

 

[JohnnyDoe]

You have completly no understanding about gold and its future role.
Bitcoin is a trojan which is going to ZERO when gold will shine.......
Mark my words

Go ahead, short bitcoin. It’s at $44k today, let’s talk again in 4 years.

 

[369]

Go ahead, short bitcoin. It’s at $44k today, let’s talk again in 4 years.

I just opened youtube and saw this 5h old video clip with the fear creating moron Friedrich.

And even that moron still doesn't get it that majority of coins are being hold by JPM which can tank bitcoins price any time they wish.

a 51% attack would be also easy double.......hell only the old miners in china had all time the chance to make a 51% attack.

All i see here are technical uneducated people with no background knowledge repeating the garbage they read on crypto pages

 

[JohnnyDoe]

I just opened youtube and saw this 5h old video clip with the fear creating moron Friedrich.

And even that moron still doesn't get it that majority of coins are being hold by JPM which can tank bitcoins price any time they wish.

a 51% attack would be also easy double.......hell only the old miners in china had all time the chance to make a 51% attack.

All i see here are technical uneducated people with no background knowledge repeating the garbage they read on crypto pages

The gold market is not manipulated? Let’s start by checking what’s inside Fort Knox LOL

 

[backpacker]

An ounce of gold will always be an ounce of gold for all eternity,

That's true. It is also true that one gram of salt will always be one gram of salt, or one unit of sand will always be one unit of sand:

• What happens if suddenly there is gold in abundance (new discoveries on Planet Earth or Space Mining)?
• What if people suddenly find out that it is nonsense to first look for something underground to then store it safely, away from eyes of others (gold has no significant industrial usage case)?
• .... and endless more negative cases.

You cannot compare insurance with a speculation.

True.
Nevertheless, gold is pure speculation. It can go up or down by 50% and more in a relatively short period of time which makes it a speculative assets.
Try to get a loan against gold: Your bank will do that with ease but it will charge you higher interest rate as if you would loan against your blue chip Nestlé stocks.
That said: Gold is considered to be a relatively high risk asset due to its price fluctuations.

precious metals (insurance)

Precious metals as an asset class are not to be confused with an insurance. They do not even work as a hedge.
Look up what Platinum, Palladium, Rhodium and Silver did during the many crisis situations we had just in the last 25 years: They all tanked with just the smallest sign of crisis on the horizon (and more often than not even without a crisis)! Completely useless as an insurance.
Gold is better in this regard but it is still far away from being an insurance: As long as an object fluctuates and does not simultaneously adjust with inflation/devaluation of competing fiat it can not be considered an insurance. An insurance is something which works immediately when a worst case scenario happens - gold does not do that.

 

[369]

That's true. It is also true that one gram of salt will always be one gram of salt, or one unit of sand will always be one unit of sand:

• What happens if suddenly there is gold in abundance (new discoveries on Planet Earth or Space Mining)?
• What if people suddenly find out that it is nonsense to first look for something underground to then store it safely, away from eyes of others (gold has no significant industrial usage case)?
• .... and endless more negative cases.

True.
Nevertheless, gold is pure speculation. It can go up or down by 50% and more in a relatively short period of time which makes it a speculative assets.
Try to get a loan against gold: Your bank will do that with ease but it will charge you higher interest rate as if you would loan against your blue chip Nestlé stocks.
That said: Gold is considered to be a relatively high risk asset due to its price fluctuations.


Precious metals as an asset class are not to be confused with an insurance. They do not even work as a hedge.
Look up what Platinum, Palladium, Rhodium and Silver did during the many crisis situations we had just in the last 25 years: They all tanked with just the smallest sign of crisis on the horizon (and more often than not even without a crisis)! Completely useless as an insurance.
Gold is better in this regard but it is still far away from being an insurance: As long as an object fluctuates and does not simultaneously adjust with inflation/devaluation of competing fiat it can not be considered an insurance. An insurance is something which works immediately when a worst case scenario happens - gold does not do that.

What a bunch of nonsense.
Clearly posted by someone who has completly no understanding of the monetary system

 

[JohnnyDoe]

What a bunch of nonsense.
Clearly posted by someone who has completly no understanding of the monetary system

Time will tell. In 4 years we will check again this thread and see how your short position on bitcoin (if you have the guts to put your money where your mouth is) is performing and how much money you are making on gold.
But the simple fact that nobody knows where gold will be in 4 years already rebuts your claim that gold is an insurance.

 

[FlipnShip]

Precious metals as an asset class are not to be confused with an insurance. They do not even work as a hedge.
Look up what Platinum, Palladium, Rhodium and Silver did during the many crisis situations we had just in the last 25 years: They all tanked with just the smallest sign of crisis on the horizon (and more often than not even without a crisis)! Completely useless as an insurance.
Gold is better in this regard but it is still far away from being an insurance: As long as an object fluctuates and does not simultaneously adjust with inflation/devaluation of competing fiat it can not be considered an insurance. An insurance is something which works immediately when a worst case scenario happens - gold does not do that.

Well you are confusing 2 different scenarios here. You are talking about precious metals and their performance in a working financial system and trust in government. If we have margin calls due to lack of liquidity, metals (mainly paper claims on it) will be sold off. Nothing will soften your $ denominated portfolio blow other than future short hedges in stocks, commodities, precious metals and VIX, USD & JPY longs.

I was taking about the insurance aspect of physical precious metals (yes mainly gold) as an anchor for a new financial system. This is a completely different set up compared to margin calls and a liquidity crisis.