Are they right, /biz/?
Also, precious metals general. Have you bought gold or silver lately?
>>1095174
non-binary
they are fear mongering (winter)
no and no
>>1095177
Of course they're fear mongering, they sell the stuff. Whats with the non-binary? I think they know which gender they are
>>1095179
sauce plox, thinking about investing personally
>>1095174
bought another 100gr back at december to add to my collection.
>>1095174
>Making a zero growth investment.
Is there an imminent financial collapse looming that I am unaware of or are you guys simply so rich that you're now looking at more solid ways of protecting your wealth ?
>>1095470
How are you unaware all the signs are showing it
Market crashes every 7 years mah nigga
>>1095578
He isn't talking about stock market crashes. The only time gold is of any use is when the whole system is truly fucked and money becomes worthless
hint: this will never happen
>>1095174
you think they would be selling their gold if they thought it was going to rise higher?
recently their items are worth more so they are trying to sell them by telling others that they will be worth MORE still
when the jackals start offloading their gold is a sign that its either hits its peak or its about to go off the rollercoaster
>>1095600
>hint: this will never happen
I've witnessed this happening in my country.
>>1095662
+1, this has happened to literally every single fiat currency (of which the dollar is) in history, therefore it will happen to the dollar and its international counterparts as well
Gold down $47
seems i was right
hopefully no one on here bought any
No. I dumped all my precious metals for crypto right before it took off and rode that wave and then cashed out. Best idea ever.
Gold was $1600's at the time, think silver was mid $30's. They said the same thing about it going higher a few years ago. Nope.
gold is still testing the $1000 level. i think we'll be back there soon, within the year. im waiting. it would have to break and maintain $1300 for me to consider buying again yet
>>1095174
It's not an investment, outside mining stocks. That being said, there is literally no excuse for not to keeping at least a half pound of silver in the house in small denominations. Especially at today's prices. $150 now can be the difference between dying off early and surviving the first couple months of the apocalypse.
http://www.cbc.ca/beta/news/business/gold-canada-reserves-1.3443700
Canada sold the last of their Au
I'm hoping Venezuela does a big dump of gold and drives the price down further. Then it's buy buy buy
Why are a lot of countries like China buying gold like crazy?
>>1096091
They know the USD is fucked. Preparing for the greatest economic crash in human history.
They also know the US is lying about its gold reserves and the gold it's supposed to be holding for other countries. It's all gone and so are countries like Germany.
>>1096091
isn't it obvious what china is up to ?
first they score the highest demand for their currency, then they maintain their currency and control it to be always low and cheap, that is, to influence countries to import from china. i bet their next step is to let nature control their currency raising it higher than ever, that way they have largest gold reserves if they want, and their currency powerful than any other currency, importing from other countries would be so cheap to them since the yuan has more value.
Premiums in Aus are pretty stupid for bullion coins, but I figure I won't miss this tiny amount of cash.
Different outlook in Aus too since price is also effected by the exchange rate.
>>1095662
I'm not talking about hyperinflation or devaluation of currency. You can always fix that with financial engineering or issuing a new currency. I mean full on collapse of society. Even then, gold would probably be less useful than ammo and water.
>>1096107
Ive got one of the funbel web spider coins. Fucking cool looking coin. My favorite foreign one i have with the philharmonic austrian one
>>1096116
Waiting on them to get in stock on goldstackers.com
Trying to grab one of each major mint bullion.
>>1096123
Cool dude. Whats the bottom right?
Also, check out www.pennmetals.com very fast free shipping
>>1096126
Just a low premium round off perthbullion
I'm in Aus so maybe the next time I'm in America I will pick something up from there.
>>1096108
>there are only two possible economic scenarios: stable prosperity or Mad Max style apocalypse
this is what you're implying. But you know there are other shit in between like Weimar Republic or 90s Russia
What's /biz/s preffered online gold/silver seller for buillion coins?
>>1096280
Are you from yurop or shitmerica
>>1096304
Am from yuropooristan, but got family in the US who visits every once in a while, so I can buy both places.
>>1096317
I think you need to be careful what you buy because some things attract sales tax and others none or reduced depending on the country, metal, purity or style of bullion.
No idea about euro coin sellers im afraid
>>1096317
whoops hit post too early, as for america I believe apmex and gainsville coins are popular
>>1095578
There was just a paper released on this.
Time in between market crashes has literally zero correlation on the likely hood for the next market crash.
7 years has the exact same odds at 14.
Finally got these in the mail, i tell you after premium, postage, petrol and time allocated or unallocated paper metals is very appealing
>>1097683
Seconded. Not to mention that trying to sell them will be hard enough - buyers will make yet another offer below spot
>>1097856
What kind of shitty happy merchants are you dealing with?
I mean, all the time I heard /biz/ bitching about happy merchants and low offers, but I'm never sure if is just crying because the buyers refuse to pay 200% of its original price (in other words, you're a bunch of crying babies), or I have been just very lucky.
>>1097490
Oh wow, a paper!
There are a lot of super smart people with uncanny track records who base everything solely on functions of time
>>1099254
Still, more intelligent than making decisions based on nothing.
>>1095174
No, they're not right.
Gold as an investment is a horrible idea, and gold as protection against catastrophe is about as bad.
>>1100559
You could always put it all in a sock and beat people with it should the world collapse.
>>1096108
Someone's been playing too much Fallout I see
>biz stocking up on gold/silver metals
>not stocking up on oil
>when oil goes for the moon in 2 years biz will whine for missed oportunity
Why biz isnt stocking up in oil/petrol?
>>1100975
been thinking of buying OOO tbqh
Enjoy getting your fingers burnt I guess.
A lot of people have not a fucking clue about how gold is valued, nor the fact that above a certain price not much higher than current value, the processing of sea water for gold becomes viable. This technology will become cheaper and so the gold price will calamitously crash in the long run.
Bitcoin is a much safer bet if you like gambling in commodities, it doesn't suffer the same problem of incentivising production as price rises as the algorithm automatically adjusts. With gold you're just saying "welp I guess there won't be any technology advances in gold extraction so its a limited supply amirite".
I warned every fucker on /pol/ back in 2012 not to buy into gold back when there were so many threads about how it was just going to go up and up. I called the top exactly and hopefully saved a few financially illiterate sperglords from blowing their good boy points on what is a totally stupid speculation vehicle.
>>1100981
>>1100975
I put some money on UWTI. I think oil is a medium position.
>>1100981
What about silver? I know it's relatively cheap right now, but are there potential alternative future methods to extracting it?
>>1100981
>people have not a clue about how gold is valued
>totally stupid speculation vehicule.
>shilling cryptocurrencies.
>doesn't suffer the same problem of incentivising production
>What's mining centralizing?
Shit, son, I know most boards are bad at their own topic, but even for /biz/ standards, you're fucking retarded.
>>1101006
Ok, buddy, here's the deal: precious metals have a shit tons of applications. Silver is quite important for the water purification industry, and gold is actually better conductive than copper, so if we could, we would have gold wires running across the electrical net. Also, iirc, both metals are safe for human as they don't oxidise with water, although silver can develop some rust (or their equivalent) after a very long time exposed to air, and a tiny part of the population are allergic to either, and more often than not, they aren't allergic to the metal itself, but to other elements presents on the alloys employed. So, both are also excellent for the medical industry, and that's why lots of people have silver and gold implants on their teeth, and we could have even more. Why haven't we done that? Because both metals are scarce as fuck.Comparatively speaking, obtaining a ton of lead or iron costs a few peanuts, while obtaining the same amount of gold would cost a few hundred dollars (just a figure of speech), so even if more inefficient, the base materials for these procedures are cheap made up for it.
So, what does this tell us about silver and gold? Don't be like the anon above and think outside the /biz/ memes for a moment.
There's a fucking huge, huge demand for either. Like in fucktacular huge. Even if the technology to extract gold from the sea is cheaper than ever, they still need to match the production of copper or iron (which is never going to happen) in order to be remotely close to match the demand, and even in this apocalypse scenario, they will retain their value as raw material.
1/2
>>1101050
So, there you go, gold and silver have a guaranteed base price. Even if the current mining companies don't fight teeth and nails to stop new gold extracting methods from removing them from the market, and some miraculous technology becomes widely available to extract tons of gold out from thin air, neither of these precious metals will become worthless because their industry applications.
However, and I already thinly veiled suggested it, there are two big problems: new technologies doesn't appear out of nothing, there's no genius walking on the beach expecting for an idea bulb to shine. There is a load of engineers and scientist working on it, but so far there's not a viable method on the short time, and even if it were to appear.
So, for a few years (more like decades) gold and silver will remain scarce, and by the time there's a proven new method, the first to adopt it and exploit it would be the big companies, but that would take a long time as they would have to develop industrial scale working machines, as well as implementing them, so there's no way the gold and silver would suffer a catastrophic price fall.
Fuck, last december silver was like $14 the pound, and now is above $15.50. Buy cheap, sell high, get a 10% profit in less than 3 months. Keep an eye and don't be greedy and you're set.
>buying during a rise
What retard does this?
>>1101063
>and even if it were to appear...
at first, as all the new technologies, it would be expensive as fuck, and only available for a few person. Eventually it would cheapen, but that would take some years of investigation, and development, before this miracle new technology is fully adopted.
>>1101050
>>1101063
I could rebut this laughable drivel, but I think we'll have some fun with you instead. Have a go at this one:
>So, there you go, gold and silver have a guaranteed base price.
That's great. Care to tell us how much this is today?
>>1100747
But that's the flaw in the gold bug's logic.
They think "I will hold gold, because it will be important to have it when the world collapses"
But (at least if you're an American), if things got so bad that the US dollar collapsed, the least of your problems would be having enough gold.
If things got that bad, your major worries would be a lack of electricity, water, food, and the roaming bands of raiders going from house to house.
Then there is the practical. OK, you have gold. Lets say that you're smart and you got the smallest gold coins you can get, the 1/10 ounce gold eagles for example.
Ok... so now you want to buy some food or heating oil. Each coin is worth $123.09 (and probably more if there were a collapse)
So how do you make change? Or do you have to buy everything in $129 amounts? Or how do you buy stuff from someone who doesn't want gold but wants bullets, firewood or your daughter?
Most gold bugs think gold is the way to go because everyone has always told them that it's the way to go. But it isn't because it just isn't practical.
In the even of a collapse of society, a pound of bullets will be worth more than an ounce of gold.
>>1101050
Hang on.... are you suggesting that when the world collapses you won't have reliable internet access by which to conduct your crypto exchanges?
The heck with that. All the smart people are putting their money into Rai Stones
What do you think of Pd or Pt?
They seem cheap compared to historic gold ratio?
>>1101201
one is used more in petrol engines the other diesel
vw scandal obviously effected diesels
GSR is pretty high too
>>1101161
Of course there will be a substitutional currency like cigarettes and booze after WWII. So you would want to buy a lot of that, whatever it would be, with your gold.
Biggest problem here: safety, as you might have to deal with some sort of criminal for that.
>>1101153
>I'm so smart I dont have to prove anything. T,take my Word for it.
>ColdSweating.jpg
>>1101161
>>1101573
Or, you could stop imagining every single person investing in gold in the world is some kind of /x/ paranoid waiting for the society collapse, and treat gold as any other investment.
Buy cheap, sell high. Just like I pointed earlier this thread, back on december and november they both were cheap, and now are on the rise. Whoever have half brain to see this one coming could have profited from it, with no apocalypse or waiting for years, or some of the random bullshit /biz/ love to babble so much.
