Gold at $6,000 an ounce
Discussion
My god, he couldn't have been right could he!!
Article from moneyweek:
"Dylan Grice of Société Générale writes: "Gold feels frothy today, but the Indian purchase of IMF gold eerily parallels the French purchases of the late 1960s. And ill policy winds are blowing in its favour. With the precious metals consultancy GFMS estimating that central banks will be net buyers of gold for the first time since 1988, have the Indians just sounded the same starting gun the French did in 1965?"
Grice reckons around $6,300 an ounce. With 260m ounces of gold held by the US and the Fed's monetary base currently $1.7 trillion (and printing), I make it a mite higher at $6,538.
http://www.moneyweek.com/investments/precious-meta...
bugger, can someone fix the title
Article from moneyweek:
"Dylan Grice of Société Générale writes: "Gold feels frothy today, but the Indian purchase of IMF gold eerily parallels the French purchases of the late 1960s. And ill policy winds are blowing in its favour. With the precious metals consultancy GFMS estimating that central banks will be net buyers of gold for the first time since 1988, have the Indians just sounded the same starting gun the French did in 1965?"
Grice reckons around $6,300 an ounce. With 260m ounces of gold held by the US and the Fed's monetary base currently $1.7 trillion (and printing), I make it a mite higher at $6,538.
http://www.moneyweek.com/investments/precious-meta...
bugger, can someone fix the title
Edited by Fittster on Wednesday 25th November 12:10
How does gold pricing work? with regards to carats and the like?
How does this $6000/ounce compare to what the "cash for gold" people are giving, i under stand that it is possibly more complicated than it seems due to the varying quality of the gold etc. Im just curious to how much these companies are ripping people off.
How does this $6000/ounce compare to what the "cash for gold" people are giving, i under stand that it is possibly more complicated than it seems due to the varying quality of the gold etc. Im just curious to how much these companies are ripping people off.
A very timely topic .... here in dubai the locals reckon it will hit $2000/ ounce by Xmas .
and apparently it is rather hard to buy as nobody is selling ..... given the property crash , a few of my colleagues could probably swap their wifes gold jewelry collections for some high-end apartments in 3 months time
and apparently it is rather hard to buy as nobody is selling ..... given the property crash , a few of my colleagues could probably swap their wifes gold jewelry collections for some high-end apartments in 3 months time
Odie said:
How does gold pricing work? with regards to carats and the like?
How does this $6000/ounce compare to what the "cash for gold" people are giving, i under stand that it is possibly more complicated than it seems due to the varying quality of the gold etc. Im just curious to how much these companies are ripping people off.
Before you raid your Wifes trinket box be aware some will 18 some 9 and possibly some 14. None is 100% it would be too soft.How does this $6000/ounce compare to what the "cash for gold" people are giving, i under stand that it is possibly more complicated than it seems due to the varying quality of the gold etc. Im just curious to how much these companies are ripping people off.
This guy does not include the the over used phrase this investment can go up and down.
Some years ago (70s or 80s) gold was 400-450 then it was made legal for Americans to hold gold. The price went up to 800 it soon went back down to 600 after the initial buying was over. (That's from memory so approx numbers
)So while it is possible gold could go to 5000+, it is also possible GM could break $100/share.
Hype IMHO
AndrewW-G said:
And how much did our fiscaly prudent PM sell hundred of tons for 
A quick Google puts the total at 400 tons, between 1999 and 2002, with prices at about $250 an ounce. He also made the smart move of announcing the amount to be sold off and dates, thus ensuring that the markets knew there'd be a huge supply of gold, sending prices tumbling before each sale.Smart man.
So 400 tons is apparently equal to 12860000 troy ounces (I for one didnt know that an ounce of gold is different to an ounce of something else)
Price at time of sale was approx $250 per ounce, so sale price = $3,215,000,000
Price today is approx $1180 per ounce, so that same 400 tons is now worth $15,161,940,000
So the fiscally astute one eyed kilt wearing f
king imbecile winky has cost the UK almost twelve fecking billion!
Thank fk he’s the prudent member of the labour party, we’d be well and truly fked with somebody worse!
Could somebody please remind me how much in cold hard cash the bank bailout has actually cost us (not loans that have yet to be repaid, but actual cash spent / lost by the government?)
Price at time of sale was approx $250 per ounce, so sale price = $3,215,000,000
Price today is approx $1180 per ounce, so that same 400 tons is now worth $15,161,940,000
So the fiscally astute one eyed kilt wearing f
king imbecile winky has cost the UK almost twelve fecking billion!Thank f
k he’s the prudent member of the labour party, we’d be well and truly fked with somebody worse!Could somebody please remind me how much in cold hard cash the bank bailout has actually cost us (not loans that have yet to be repaid, but actual cash spent / lost by the government?)
Edited by AndrewW-G on Wednesday 25th November 15:47
AndrewW-G said:
So 400 tons is apparently equal to 12860000 troy ounces (I for one didnt know that an ounce of gold is different to an ounce of something else)
Price at time of sale was approx $250 per ounce, so sale price = $3,215,000,000
Price today is approx $1180 per ounce, so that same 400 tons is now worth $15,161,940,000
So the fiscally astute one eyed kilt wearing fking imbecile winky has cost the UK almost twelve fecking billion!
Thank fk he’s the prudent member of the labour party, we’d be well and truly fked with somebody worse!
Could somebody please remind me how much in cold hard cash the bank bailout has actually cost us (not loans that have yet to be repaid, but actual cash spent / lost by the government?)
Price at time of sale was approx $250 per ounce, so sale price = $3,215,000,000
Price today is approx $1180 per ounce, so that same 400 tons is now worth $15,161,940,000
So the fiscally astute one eyed kilt wearing f
king imbecile winky has cost the UK almost twelve fecking billion!Thank f
k he’s the prudent member of the labour party, we’d be well and truly fked with somebody worse!Could somebody please remind me how much in cold hard cash the bank bailout has actually cost us (not loans that have yet to be repaid, but actual cash spent / lost by the government?)
Edited by AndrewW-G on Wednesday 25th November 15:47
Simond001 said:
If I have a lump of 18k gold that weights .91 of an ounce, how much is this worth?
Pure gold is roughly £700 per ounce at the moment. You should be able to get at least 90% of the spot price for scrap.It's all well and good getting excited about gold going up in value but it's happening for a reason and if it hits $6k per ounce, we will probably be struggling to afford to feed ourselves due to a full blown global economic collapse.
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