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Gold storms past $1,800 towards new record high (Inflation?)
Yahoo Finance ^ | July 8, 2020 | Peter Hobson

Posted on 07/08/2020 9:22:56 AM PDT by Perseverando

LONDON (Reuters) - Gold pushed above $1,800 an ounce on Wednesday for the first time since 2011, with analysts expecting further gains as investors stock up on an asset they expect to hold its value while the coronavirus convulses the global economy.

Spot gold prices have surged 40% in the last 14 months and are within striking distance of 2011's record high of $1,920.30 an ounce.

"We'll be challenging the $2,000 level by the end of the year," said Ross Norman, an independent analyst. "We are in a bull market for gold."

(Graphic: Gold's latest rally, https://fingfx.thomsonreuters.com/gfx/ce/jznpnzmokpl/GR%20RALLY.JPG)

Powering the rally is economic and political uncertainty caused by the COVID-19 pandemic and action by central banks, which have responded to slowing growth and the virus by slashing interest rates and flooding markets with cash.

This has fuelled fears of inflation, which would typically devalue other assets, and has also lowered returns on government bonds, making gold more attractive.

Gold's rise has been mirrored by a slide in real yields on 10-year U.S. bonds, which at around minus 0.8% are near record lows.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Government
KEYWORDS: bubble; economy; gold; goldbug; goldbugs; inflation; preciousmetals
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To: Alberta's Child

Yes but I don’t pay commercial rents at least not directly. And food prices are greatly inflating ( we agree on the causes for this but the fact is that food prices are greatly inflating ). Best,


41 posted on 07/08/2020 10:55:49 AM PDT by faithhopecharity (Politicians are not born, theyÂ’re excreted. Marcus Tullius Cicero (106 to 43 BCE))
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To: Alberta's Child

that signals the top.....a shoeshine boy moment....

first the smart money gets in, then institutional, then the general public, then the robinhood crowd. that’s the time to get out.


42 posted on 07/08/2020 10:59:07 AM PDT by wny
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To: Perseverando

Have you priced a new pickup lately? Especially a heavy duty one?? A nice Dodge Ram with a Cummins diesel will set you back about $75,000!


43 posted on 07/08/2020 10:59:36 AM PDT by amorphous
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To: amorphous
Have you priced a new pickup lately? Especially a heavy duty one?? A nice Dodge Ram with a Cummins diesel will set you back about $75,000!

Wow! Is that the 24 karat gold plated model? LOL!

44 posted on 07/08/2020 11:02:33 AM PDT by Perseverando (Liberals, Progressives, Islamonazis, Statists, Commies, DemoKKKrats: It's a Godlessness disorder.)
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To: wny; bert

anyone have any thoughts on the real estate market, along with the “inflation” issue / gold prices?

Asking for myself, not a friend. :)


45 posted on 07/08/2020 11:05:33 AM PDT by WaterWeWaitinFor (Pray for President Trump, his family, his administration and We The People.)
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To: Perseverando

It’s a 4x4 Laramie 2500, but certainly not the top of the line.


46 posted on 07/08/2020 11:06:26 AM PDT by amorphous
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To: Perseverando

Have you priced a new pickup lately? Especially a heavy duty one?? A nice Dodge Ram with a Cummins diesel will set you back about $75,000!
Wow! Is that the 24 karat gold plated model? LOL!


Farmers and business buy them at that price. Save 50% on income tax and it only costs you $37,000 net.............


47 posted on 07/08/2020 11:06:28 AM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: PeterPrinciple
Farmers and business buy them at that price. Save 50% on income tax and it only costs you $37,000 net.............

BLM gets them for a steal!

48 posted on 07/08/2020 11:09:58 AM PDT by Perseverando (Liberals, Progressives, Islamonazis, Statists, Commies, DemoKKKrats: It's a Godlessness disorder.)
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To: PeterPrinciple
Save 50% on income tax and it only costs you $37,000 net.............

Maybe 33%. But then there is sales tax. And the tax deduction is only if there was a profit. Many farmers are having a bad year, again.

49 posted on 07/08/2020 11:13:06 AM PDT by amorphous
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To: amorphous

Maybe 33%. But then there is sales tax. And the tax deduction is only if there was a profit. Many farmers are having a bad year, again.


You don’t know what your are talking about

32% fed income tax

15% Self employment tax

8% state tax income tax

ok, I rounded up, just easier that way.

Bottom line, do you want $37,000 in the bank or a “$75,000 pickup. 45% discount drives a lot of decisions. Whether they are good decisions is another matter.


50 posted on 07/08/2020 11:19:33 AM PDT by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)
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To: Perseverando

Might have made a bad move selling all my gold investments.


51 posted on 07/08/2020 11:40:13 AM PDT by Sam Gamgee
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To: Sam Gamgee
Might have made a bad move selling all my gold investments.

You think that was bad?

Now, you're probably not going to believe this, but I had all my gold coins and all my guns in my old canoe out in the middle of this big old lake for no particular reason. And then you won't believe what happened next..... The strangest thing! I mean who would have thunk it? Seriously!

52 posted on 07/08/2020 11:45:34 AM PDT by Perseverando (Liberals, Progressives, Islamonazis, Statists, Commies, DemoKKKrats: It's a Godlessness disorder.)
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To: PeterPrinciple
Not everyone who needs a new pickup will fall into the highest tax bracket. A 33% deduction figure, if eligible under 179, assuming you actually made a profit in the particular endeavor you're making the deduction against (whether farm or business,) is a good rule of thumb. As for your other question; I prefer things I need verses excess dollars in a bank, created out of nothing, and taxed every time they change hands. Many states also have tax brackets. The self-employment tax and alternative minimum tax are separate considerations, of course.

Kudos for taking all into consideration tho. Most folks only think of federal income taxes when considering costs.

53 posted on 07/08/2020 11:56:23 AM PDT by amorphous
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To: Nateman

I wu z remembering gold was 30 buck ounce cos then we uns went to californias feather river n done found a smackin n mine in the rivers holes then went to Georgetown n found nuther one to boot whilst poking for them bottles. Yup yup yup. Find a mine n dig it out yupyupyup


54 posted on 07/08/2020 12:01:22 PM PDT by bunkerhill7 (That`s 464 people per square foot! Is this corrrect?? It's NYC.)
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To: 9422WMR
I’m ready to sell a few ounces. How much discount should I expect from spot gold prices?

gold bullion COINS from reputable countries should sell or at or near spot

gold bullion rounds, bars, etc. should sell at 3-5% below spot

55 posted on 07/08/2020 12:54:22 PM PDT by TheRightGuy
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To: wny
...when the non-gold investors start paying attention, you know it’s taking off.

Yes, and shoeshine boys...

56 posted on 07/08/2020 1:46:54 PM PDT by GOPJ (Leo Terrell - Michael Shellenberger - Stephen Hsu.."TRUTH is the new HATE SPEECH" - (jimred)
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To: 9422WMR

I’m pretty sure you can get better than spot if you sell them on Ebay. Check what they’re going for there first.


57 posted on 07/08/2020 1:48:46 PM PDT by amorphous
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To: Perseverando
When there are no cops around you are on your own.

Live in a Republican State and a Republican city and you'll be fine.

58 posted on 07/08/2020 2:05:07 PM PDT by GOPJ (Leo Terrell - Michael Shellenberger - Stephen Hsu.."TRUTH is the new HATE SPEECH" - (jimred)
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To: 9422WMR
Provident Metals is paying about $20 an ounce OVER spot for 1 ounce Eagles
59 posted on 07/08/2020 2:06:45 PM PDT by Reynoldo
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To: This_Dude
"... a shiny metal that you can’t eat, it can’t keep you warm, won’t fuel a vehicle, won’t produce electricity, etc"

I think no matter how bad things get there is always somebody around who is so wealthy that they don't need more food, more heat, more fuel, or more electricity. They recognize the inherent scarcity of gold and will accumulate it.

For thousands of years an ounce of gold has been worth the price of a nice suit of clothes. The U.S. just spent several trillion dollars that it didn't have in order to stabilize the economy. I would bet on gold in the near term and against any currency.

60 posted on 07/08/2020 2:20:35 PM PDT by William Tell
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