Gold......safe or sorry?

[AlanP]

Gold under $1100.

[ross]

I was wondering whether we're going to see another financial storm again at some point soon in which case some gold might be an option as I guess it will go up again as people use it as a safe haven.

I'm totally crap at this kind of stuff though.

When you look at the graph over the last 10 years though, gold still seems expensive.  Wish I'd bought a load in 2000 though!  (had no money though as I'd just spent it on my first Atom so that's academic really)

[wattie]

Watch this if you think it's over.


https://www.youtube.com/watch?v=7nuzT3rchPU&feature=player_embedded 

www.buying-bullion.com
(Mates rates available)

Cheers Wattie

[GraemeW]

Gold gold all the way .... for the long term....but I am biased because I once used to mine the stuff.    Watties site reminded me of bullion bars piled on pallets in the mine reduction plant.  hypnotic stuff, even in smaller quantities it's  a hypnotic, tangible, appreciating asset, and it's been so for centuries despite temporary set backs.

Hence "Digger", friends called me that all those years ago in Africa. 

[wattie]

Nice story Digger, you've more experience than most of its value.....and the hard work it takes to mine it.
Bankers can't just print it out of thin air......by the trillion.
Cheers Wattie

[GraemeW]

Wattie I could tell you many a good story about the gold mines.  Perhaps over a beer one day?

[AlanP]

If you keep saying it'll go up you will eventually be right of course. It hasn't happened in 4 1/2 years, but maybe now's the time.

[wattie]

[quote="AlanP"]
If you keep saying it'll go up you will eventually be right of course. It hasn't happened in 4 1/2 years, but maybe now's the time.
[/quote]
Partly right and wrong Alan which is what many people fail to understand, including yourself.

Gold is in effect it's own currency so it depends on what currency you view the price in. See the table i posted.

Many countries currencies around the world are being crushed right now...but if those individuals in those countries hold Gold, they are maintaining far more buying power. You can see for yourself if you check Golds performance in Rubels, Rand, Aud$, Brazil l, Cad$ etc etc
Long term average results in literally all currencies show its store of value (table)

It's not the value of something...it's the buying power it has that is important!
In November 2007 £1 bought $2.0722
Today it buys $1.42

You've still a £ but it buys 31% less.

As this crisis manifests itself (and its a currency crisis too)it's buying power that will protect your wealth.
Cheers Wattie

[Rocket Man]

mmmmmmm very deep, so how many ounces of gold do i need to buy an Atom???

[wattie]

[quote="Rocket Man"]
mmmmmmm very deep, so how many ounces of gold do i need to buy an Atom???
[/quote]
About 2kg in todays value....depending on spec!
Cheers Wattie

[GraemeW]

so i should be buying gold instead of an atom.  better investment 

[wattie]

Nowhere near as much fun!
Cheers Wattie

[Lord Studley]

You must have a few full Krugerrands tucked away Digger.

[GraemeW]

a couple.  might have to find them to help pay for the Atom. 

[wattie]

Boom!!!!!!!!!!!!!