Posted on 11/28/2015 11:20:36 AM PST by BenLurkin
Due to what industry analysts say is a strengthening U.S. dollar, an expected rate hike from the Federal Reserve and an apparent Chinese stock market slump, the precious metal's prices temporarily fell to a longtime low of $1,051 an ounce.
The commodity's price closed at $1,055.90 on the New York Mercantile Friday, CNN reports. The price indicates gold's decline in popularity since reaching its highest price of $1,890 in 2011.
(Excerpt) Read more at upi.com ...
With the turmoil in the world and low prices looks like a time to buy?
Where’s the curve on the history of bitcoin vs gold prices?
I was meaning to ask: where have all the goldbugs been recently? I have my answer.
And our national debt is ~$19,000,000,000,000 and rapidly rising.
I wonder if at some point those green pieces of paper with 20s and 100s on them will only have value as toilet tissue?
Will go much lower. Sorry folks
Might be time for more Mosin Nagant rifles and .22 ammo if they flood the market again.
Physical gold is good to have in a collapse govt scenario.
Not as good as physical lead and brass
http://seekingalpha.com/articles?filters=gold-and-precious-metals,articles
I agree.... I understand Gold’s intrinsic value.... but in an apocalypse, it’s not gonna be very good for bartering, and it won’t keep you safe.
Gold is money. Ammo can be traded but gold is more likely a way of storing value in a small package.
I was just reading about the pyramid and what the scans show (another possible tomb) and wonder what that means for the precious metals market. If ground scan sonar becomes capable enough the mining of everything will be more profitable because they will know exactly where the seams are so you would have a far higher percentage of recovery per investment.
People like to say there is a finite amount of precious metals and they are right. What they don’t say is we have likely recovered single percentage points of the materials because technology has never allowed us to pinpoint where it is under the ground (only where it should be for gold).
The concept of an economic exchange medium precedes and supersedes civilization. Even the most primitive cultures had rudimentary money systems, mostly based on precious metals. People are not going to go around killing each other for seed corn and constant barter gets to be a pain in the ass.
I don’t disagree. I would say this.... if economic apocalypse happens, or whatever type of apocalypse.... it will be a couple of years before the savages are all killed off before civilized persons start being able to trade gold for goods or services.
You are not taking into account the feral human population
I’m back to accumulating a little here and there myself.
Money is pretty much anything that has a near universal value. Which is how indigenous tribes traded away their gold for steel and bronze. The practical was important.
People today don’t value gold that much.
Lead and brass in the right forms will be quite the value in the right scenario.
Glenn Beck says it is.
Just mention his name when you call in and you’ll receive a free subscription to “How To Retire Early By Buying Gold”.
Hurry, quantities are limited.
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