Why the big move in gold?
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- vnatale
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Re: Why the big move in gold?
https://money.com/best-online-gold-deal ... aily_money
5 Best Online Gold Dealers of 2024
By: Susan Doktor
Editor: Alison Tobin and Jordan Chussler
Published: Apr 15, 202416 min read
5 Best Online Gold Dealers of 2024
By: Susan Doktor
Editor: Alison Tobin and Jordan Chussler
Published: Apr 15, 202416 min read
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
Re: Why the big move in gold?
I have tried many times but no gold bars available at costco
Re: Why the big move in gold?
The journey of a thousand miles begins with a single step. -Lao Tzu
- dualstow
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Re: Why the big move in gold?
I’d forgotten about that commercial
If you were unable to log into Bitwarden today around 3:30pm EST, you’re not alone. (May 6) That was brief, but unsettling.
- vnatale
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Re: Why the big move in gold?
That's how popular a sales item that they are there!
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
- vnatale
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Re: Why the big move in gold?
https://www.businessinsider.com/gold-pr ... ion-2024-4
ECONOMY
People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
Huileng Tan Apr 22, 2024, 2:33 AM EDT
ECONOMY
People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
Huileng Tan Apr 22, 2024, 2:33 AM EDT
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
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Re: Why the big move in gold?
This seems not good. Is Buffett wrong about how much better owning businesses is, vs an asset that does nothing?
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Re: Why the big move in gold?
Didn't want to create an account to read the link but the headline seems off to me. Buying gold makes sense especially if the currency is getting weaker, not in spite of that fact.vnatale wrote: ↑Thu Apr 25, 2024 1:03 pm https://www.businessinsider.com/gold-pr ... ion-2024-4
ECONOMY
People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold
Huileng Tan Apr 22, 2024, 2:33 AM EDT
Also, what have been the alternatives for Chinese investors? The stock market has been bad and real estate has gotten killed. Cash under the mattress or hidden in walls has been a thing in China forever but, from what I have heard, it's even more of a cashless society than ours now.
We complain here in the US about the official inflation numbers being too low, but in China virtually all economic data is made up by the CCP. Here is a chart (not made up) of the gold to Renminbi exchange rate:
https://ycharts.com/indicators/gold_pri ... se_renmibi
- dualstow
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Re: Why the big move in gold?
It loaded for me. Maybe we get a few free reads per month?
So, for a limited time, you can read this copy, a .txt file.
https://drive.proton.me/urls/5Z1VMM81T8#z5pI5XYkUUvN
Use password: yuan
Will expire May 3rd.
If you were unable to log into Bitwarden today around 3:30pm EST, you’re not alone. (May 6) That was brief, but unsettling.
Re: Why the big move in gold?
Weaker Yuan/RMB (relative to other currencies) = Cheaper exports, and more expensive imports
It means that the price of internationally sourced (COMEX/LBMA) gold, priced in dollars, euros or whatever they use in Dubai, is going up more for the folks in China than it is for the rest of the world (but they are still buying it aggressively).
The journey of a thousand miles begins with a single step. -Lao Tzu
Re: Why the big move in gold?
When there's 123 times more paper gold than physical gold then unless its in your own hands there is a risk that a gold-rush could see claims by others that all of their physical gold had been deployed/disappeared. Audited as being there one day, but then in a gold-rush perhaps a conflicting deal/swap that resulted in settlement that had little/none left being produced as the reason for bankruptcy.
Re: Why the big move in gold?
Yes. If there was a gold-rush where delivery was being commonly demanded instead of cash settlement that would require gold having to be sourced, potentially in part via swaps with those that held physical for a very attractive rate. If that pans out to fill the demand then fine, but if a trickle turns into a torrent and simply there just isn't enough gold to meet the demand for physical delivery! Likely amplified by the introduction of export restrictions. Under such conditions it could be more a case of first come first served and where typically institutes will be ahead of the crowd. Those that write/sell the contracts are pressured into securing actual physical gold or otherwise potentially be bankrupt. How well or not the likes the managers of physical backed gold funds respond to very attractive offers at the time is a unknown until after the event.coasting wrote: ↑Sun Apr 14, 2024 9:37 pmWhile "paper gold" is often a term used to describe gold ETFs, from the context of Seajay's comments I instead understood him to be using "paper gold" to refer to gold options. In which case, yes the outstanding gold options could far exceed the physical gold available. Most traders close out the option position prior to expiry and collect the cash. What if they don't and instead say "I'll take it, deliver my gold". Seajay, am I interpreting your comments correctly?