Perth Gold and Australia Fires

Discussion of the Gold portion of the Permanent Portfolio

Moderator: Global Moderator

Post Reply
Kevin K.
Executive Member
Executive Member
Posts: 516
Joined: Mon Apr 26, 2010 2:37 pm

Perth Gold and Australia Fires

Post by Kevin K. » Fri Jan 03, 2020 10:17 am

I feel a bit guilty even posing this question considering the horrific circumstances Australians are dealing with at the moment, but it did occur to me to wonder if there was now a downside to holding gold at Perth Mint (e.g. in AAAU) given that the country is basically on fire? Obviously the vaults are well-protected but I don't know if geographical diversification in gold holdings should included Australia anymore given both the current situation and very credible forecasts that these kind of wildfire seasons are likely the new normal down there.

Any thoughts?
StJohnVianney
Junior Member
Junior Member
Posts: 6
Joined: Thu Dec 27, 2018 8:38 am

Re: Perth Gold and Australia Fires

Post by StJohnVianney » Fri Jan 03, 2020 10:37 am

User avatar
ochotona
Executive Member
Executive Member
Posts: 3353
Joined: Fri Jan 30, 2015 5:54 am

Re: Perth Gold and Australia Fires

Post by ochotona » Fri Jan 03, 2020 12:21 pm

MangoMan wrote:
Fri Jan 03, 2020 11:51 am
It was my understanding that the fires were on the east side of the island (New South Wales and Victoria) and Perth is on the west coast. So I would imagine that's the same problem as California wildfires affecting the gold in Fort Knox, KY, i.e., none.
I flew from Perth to Sydney. It took hours.
User avatar
Smith1776
Executive Member
Executive Member
Posts: 3501
Joined: Fri Apr 21, 2017 6:01 pm

Re: Perth Gold and Australia Fires

Post by Smith1776 » Fri Jan 03, 2020 2:32 pm

I personally still haven't put into practice the geographic diversification aspect of gold holdings.

All of my physical gold is still being held locally. Unless the redemption features of my ETFs count? Probably not hehe. :o
I still find the James Rickards portfolio fascinating.
User avatar
Mark Leavy
Executive Member
Executive Member
Posts: 1950
Joined: Thu Mar 01, 2012 10:20 pm
Location: US Citizen, Permanent Traveler

Re: Perth Gold and Australia Fires

Post by Mark Leavy » Fri Jan 03, 2020 11:12 pm

The fires are on the East Coast. Perth is on the West Coast. You can't imagine how large Australia is. You have to see it to believe it.
User avatar
Hal
Executive Member
Executive Member
Posts: 1349
Joined: Tue May 03, 2011 1:50 am

Re: Perth Gold and Australia Fires

Post by Hal » Sat Jan 04, 2020 5:07 am

Hi Kevin,

Don't worry about it. As Mark Leavy mentioned, there is a lot of "nothingness" between the East Coast and Perth.

https://www.google.com/search?q=nullarb ... 00&bih=537

I live on the East Coast of Australia, and have Gold stored at the Perth Mint - not the slightest bit concerned.

Hope this helps,
Hal
Kevin K.
Executive Member
Executive Member
Posts: 516
Joined: Mon Apr 26, 2010 2:37 pm

Re: Perth Gold and Australia Fires

Post by Kevin K. » Sat Jan 04, 2020 8:17 am

Thanks Hal, thanks everyone!

Really sorry to see that beautiful country going through such hell.
User avatar
sophie
Executive Member
Executive Member
Posts: 1959
Joined: Mon Apr 23, 2012 7:15 pm

Re: Perth Gold and Australia Fires

Post by sophie » Sat Jan 04, 2020 9:08 am

Simonjester wrote: found an interesting article on Australia and fire https://www.americanthinker.com/article ... _fire.html it reminds me of California
There are fires near Perth, but it's like the California fires: they're not in the city itself but in the bushland surrounding it. Check out the images online of the "fire tornado'.

Not good for Australia, but I doubt very much that the mint is in any danger.
StJohnVianney
Junior Member
Junior Member
Posts: 6
Joined: Thu Dec 27, 2018 8:38 am

Re: Perth Gold and Australia Fires

Post by StJohnVianney » Mon Jan 06, 2020 8:11 am

Post Reply