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Current Gold Price
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BritDownUnder



Joined: 21 Sep 2011
Posts: 599
Location: Hunter Valley, NSW, Australia

PostPosted: Sun Oct 14, 2018 6:40 pm    Post subject: Reply with quote

kenneal - lagger wrote:
I suspect that if there was a requirement to actually possess physical gold to trade it the value of gold would shoot up as all the people owning "paper"gold suddenly had to find some metal to prove ownership.


I think a lot of 'paper' gold companies would quickly go bankrupt if there was a demand to see such stored gold. Not that I am suggesting they are a fraud or anything - far from it.
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vtsnowedin



Joined: 07 Jan 2011
Posts: 5285
Location: New England ,Chelsea Vermont

PostPosted: Sat Mar 30, 2019 9:48 pm    Post subject: Reply with quote

I went into the local coin shop the other day and asked what they were getting for "junk" silver coins. This is something quoted on the New York market daily for bags with $1000 face value and smaller lots are usually available for a small mark up. This store has been there for decades and I remember them buying and selling both gold and silver of all types daily with an eye to the price ticker that was always running on the tv. But ownership has changed and things are not quite the same and the present proprietor said she didn't have a single junk coin in the store. I did not bother to point out that some of the coins she had in plastic collectors cases for $50+ each would grade no higher then cull but that is another story.
You can of course buy all you want on line but that leaves an ownership trail that most bullion collecting doomers don't want to leave behind.
I guess I'll have to resort to burying mason jars full of "Benjamin's in the flower garden. Wink
To stay on topic the gold price is holding steady around $1300 with Fridays close at $1292.
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boisdevie



Joined: 26 Dec 2012
Posts: 299
Location: N Lancashire

PostPosted: Mon Jul 29, 2019 6:33 pm    Post subject: Reply with quote

Gold and silver are both going up a lot. Anyone know why? Is it uncertainty re Brexit and an expectation that sterling will fall?
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kenneal - lagger
Site Admin


Joined: 20 Sep 2006
Posts: 11307
Location: Newbury, Berkshire

PostPosted: Mon Aug 05, 2019 3:42 pm    Post subject: Reply with quote

Gold up to £1207.45 ($1466.75) per ounce, an all time high, and silver to £13.55 against an all time high of £29.56 in March 2011 on the back of general uncertainty.
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UndercoverElephant



Joined: 10 Mar 2008
Posts: 9980
Location: south east England

PostPosted: Wed Aug 07, 2019 10:46 pm    Post subject: Reply with quote

boisdevie wrote:
Gold and silver are both going up a lot. Anyone know why? Is it uncertainty re Brexit and an expectation that sterling will fall?


It's two things coming together. Firstly sterling is falling against other fiat currencies, because of brexit uncertainty.

And secondly, the price of gold in all fiat currencies is rising on fears of a global "economic slowdown" because of Trump's trade wars.

https://edition.cnn.com/2019/08/07/investing/gold-bond-yields-trade-war/index.html
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UndercoverElephant



Joined: 10 Mar 2008
Posts: 9980
Location: south east England

PostPosted: Fri Sep 20, 2019 9:24 pm    Post subject: Reply with quote

I sold some gold today. Might sell some more if the price goes up further. If Johnson gets his deal, this might be the high point for the forseeable.
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