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 ...
Yes but I dont 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,
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.
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!
anyone have any thoughts on the real estate market, along with the “inflation” issue / gold prices?
Asking for myself, not a friend. :)
It’s a 4x4 Laramie 2500, but certainly not the top of the line.
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!
BLM gets them for a steal!
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.
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.
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.
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!
Kudos for taking all into consideration tho. Most folks only think of federal income taxes when considering costs.
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
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
Yes, and shoeshine boys...
I’m pretty sure you can get better than spot if you sell them on Ebay. Check what they’re going for there first.
Live in a Republican State and a Republican city and you'll be fine.
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.
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