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China has been stockpiling for a number of years, it is estimated that in 2016 they purchased in excess of 600 tonnes, not only that, they actively encourage their citizens to hold gold as a store of wealth.

Another big player in the gold purchase market is India and 'Paper Gold' is somewhere in excess of 5X the gold bullion backing it.

Hang on to the nuggets and use the alluvial for cashflow.
 
Im in love with my nuggets way to much to sell them , they are like children and each one carries a great memory , i was purchasing gold but my funds are tight lately .

I wish something would devalue gold completly and then we could catch and release , that way the gold feilds would be alive forever ]:D
 
I made a big call about gold going up 5X back in Dec 2017 , price was then around $1650AU an ounce ' now about $1745AU .
So it will have to go over $8000AU by the end of this year for the prediction to prove correct :)

That will be over $258.00 a gram !
Here is a recent video in line with the consensus :)
[video=480,360]https://youtu.be/iSCDsS5vUkg[/video]

Good live chart to bookmark here ~ https://www.bullionvault.com/gold-price-chart.do

Good Luck out there ;)
 
Michael Pento aka Chicken Little as the sky is always going to fall , interesting rhetoric as usual , sounds very much like someone trying to sell a book :rolleyes:

Most responsible Super funds are 40 percent in cash at the moment , many sensible investors likewise and in defensive stocks as there is No Doubt the stock market is Overdue for a Big Correction / Crash .The smart are and have prepared for that . But for the outcome he is preaching to occur you would need a total collapse of the monetary system worldwide or a war .

Commonly for me it is the annual sell in May and go away but when wading back in July the stop loss sell orders will be very tight and looking forward to the buying opportunities post as a 50 percent crash is not impossible.

Still can't see 500 percent gold increase but a Jackwinder is probably not a bad hedge as we would all need to move to Tibooburra ;)

As usual time will tell
 
As unlikely as it may seem a major collapse of the world monetary system is possible.

The world runs on the US dollar, the value of which has been artificially inflated for some years now.

The repercussions of a collapse is not completely known but it won't be pretty if it happens.
 
people wont be buying much retail gold jewellery, board makers might use more copper. 5x? sounds like someone is trying to increase their wealth.
 
Outback said:
China & Russia have been stockpiling huge amounts of gold .
Why ?
To take on the worlds reserve currency ~ US Dollars hegemony , the petrodollar .

The gold price through the Comex will then become inconsequential ( it's already mostly paper gold that's cash settled anyway )

What it all mean ? Gold should go up X5 in 2018 , and that's being conservative :party:
So hang onto your gold boys & girls .
Click to expand...
Not clear how they would do that:

1526499400_gold-reserves-by-country.gif.jpg


Also, reports I read say it is private Chinese buying not central bank buying. Finally, the figures being quoted are no larger than those countries gold production each year.

Apparently it will take six years of buying at this rate for either to even equal the gold stocks of Italy - and Russia's buying probably relates to sanctions over Crimea and issues with the Euro - I would have thought it one of the last countries to try and take on the dollar
 
goldierocks said:
Outback said:
China & Russia have been stockpiling huge amounts of gold .
Why ?
To take on the worlds reserve currency ~ US Dollars hegemony , the petrodollar .

The gold price through the Comex will then become inconsequential ( it's already mostly paper gold that's cash settled anyway )

What it all mean ? Gold should go up X5 in 2018 , and that's being conservative :party:
So hang onto your gold boys & girls .
Click to expand...
Not clear how they would do that:

https://www.prospectingaustralia.co...6/1526499400_gold-reserves-by-country.gif.jpg

Also, reports I read say it is private Chinese buying not central bank buying. Finally, the figures being quoted are no larger than those countries gold production each year.

Apparently it will take six years of buying at this rate for either to even equal the gold stocks of Italy - and Russia's buying probably relates to sanctions over Crimea and issues with the Euro - I would have thought it one of the last countries to try and take on the dollar
Click to expand...

Note the date of that graph,a lot has changed since then.

With China buying tons over the last few years (post GFC) were is it coming from,I say mostly from the U.S. Fort Knox.

China are running it through Hong Kong trying to keep it quiet with reports transporting it through main land China in Army tanks,never under estimate the Chinese.

They have long term plans and the patience to match.

China :Y:
 
The Scrounger said:
goldierocks said:
Outback said:
China & Russia have been stockpiling huge amounts of gold .
Why ?
To take on the worlds reserve currency ~ US Dollars hegemony , the petrodollar .

The gold price through the Comex will then become inconsequential ( it's already mostly paper gold that's cash settled anyway )

What it all mean ? Gold should go up X5 in 2018 , and that's being conservative :party:
So hang onto your gold boys & girls .
Click to expand...
Not clear how they would do that:

https://www.prospectingaustralia.co...6/1526499400_gold-reserves-by-country.gif.jpg

Also, reports I read say it is private Chinese buying not central bank buying. Finally, the figures being quoted are no larger than those countries gold production each year.

Apparently it will take six years of buying at this rate for either to even equal the gold stocks of Italy - and Russia's buying probably relates to sanctions over Crimea and issues with the Euro - I would have thought it one of the last countries to try and take on the dollar
Click to expand...

Note the date of that graph,a lot has changed since then.

With China buying tons over the last few years (post GFC) were is it coming from,I say mostly from the U.S. Fort Knox.

China are running it through Hong Kong trying to keep it quiet with reports transporting it through main land China in Army tanks,never under estimate the Chinese.

They have long term plans and the patience to match. tonnes

China :Y:
Click to expand...
Main change since then is Russia increasing its central bank supplies to 1700 tonnes by 2017 (China similar). At $42 million per tonne that is hardly earth-shaking($US72 billion?- about Australia's 2018 transport infrastructure budget). These figures are small compared to annual production (that total is around 4-5 years mine production for Russia). And tiny relative to US holdings, and European banks hold at least 32,000 tonnes. I still think sanctions would be their driving force (and they also sold 70 tonne last year to China and elsewhere). Compare that with 9 million tonnes held by the UAE. Keep in mind that China, Russia, Australia and USA are the top 4 gold producers and have large reserves still in the ground. Also that Russia has a tiny economy(a bit bigger than Brazil and three times Australia but with many more people - per capita it would be a fraction of Australia, their per capita GDP is a tiny amount larger than ours) - they can't just write cheques for whatever they want, and are suffering sanctions at present..
 
goldierocks said:
The Scrounger said:
goldierocks said:
Outback said:
China & Russia have been stockpiling huge amounts of gold .
Why ?
To take on the worlds reserve currency ~ US Dollars hegemony , the petrodollar .

The gold price through the Comex will then become inconsequential ( it's already mostly paper gold that's cash settled anyway )

What it all mean ? Gold should go up X5 in 2018 , and that's being conservative :party:
So hang onto your gold boys & girls .
Click to expand...
Not clear how they would do that:

https://www.prospectingaustralia.co...6/1526499400_gold-reserves-by-country.gif.jpg

Also, reports I read say it is private Chinese buying not central bank buying. Finally, the figures being quoted are no larger than those countries gold production each year.

Apparently it will take six years of buying at this rate for either to even equal the gold stocks of Italy - and Russia's buying probably relates to sanctions over Crimea and issues with the Euro - I would have thought it one of the last countries to try and take on the dollar
Click to expand...

Note the date of that graph,a lot has changed since then.

With China buying tons over the last few years (post GFC) were is it coming from,I say mostly from the U.S. Fort Knox.

China are running it through Hong Kong trying to keep it quiet with reports transporting it through main land China in Army tanks,never under estimate the Chinese.

They have long term plans and the patience to match. tonnes

China :Y:
Click to expand...
Main change since then is Russia increasing its central bank supplies to 1700 tonnes by 2017 (China similar). At $42 million per tonne that is hardly earth-shaking($US72 billion?- about Australia's 2018 transport infrastructure budget). These figures are small compared to annual production (that total is around 4-5 years mine production for Russia). And tiny relative to US holdings, and European banks hold at least 32,000 tonnes. I still think sanctions would be their driving force (and they also sold 70 tonne last year to China and elsewhere). Compare that with 9 million tonnes held by the UAE. Keep in mind that China, Russia, Australia and USA are the top 4 gold producers and have large reserves still in the ground. Also that Russia has a tiny economy(a bit bigger than Brazil and three times Australia but with many more people - per capita it would be a fraction of Australia, their per capita GDP is a tiny amount larger than ours) - they can't just write cheques for whatever they want, and are suffering sanctions at present..
Click to expand...

I'd like to hear your thoughts on the gold price later this year , then we can see who got it right in late 2018 ;)

In the mean time keep posting as I like reading your rebuttal info .
 
diggit said:
The doomers will eventually be right.....but when?

What if they're wrong for another 30 years?

Diversity of assets is prudent.
Click to expand...

Love that top comment :Y:

But tell us about the diversity of assets ? please advise where to invest :D
 
Different issues. I suspect that the gold price will be very healthy in 2019, and I hold some as part of diversity in assets. It is motivations that I am mostly questioning. As for major economic crises I think dangers are higher now than any time since GFC.

The rouble keeps crashing (I have stacks from my last trip - not worth cashing because of depreciation). Sanctions will cause it to dive further. So far from some plot against the dollar, I see an attempt to hedge against depreciation.It tends to keep its value
 
Outback said:
diggit said:
The doomers will eventually be right.....but when?

What if they're wrong for another 30 years?

Diversity of assets is prudent.
Click to expand...

Love that top comment :Y:

But tell us about the diversity of assets ? please advise where to invest :D
Click to expand...

Invest in the capital Cities :Y: because when the tin foil world becomes reality it's the first place commerce will begin to recover.
 
goldierocks said:
Different issues. I suspect that the gold price will be very healthy in 2019, and I hold some as part of diversity in assets. It is motivations that I am mostly questioning. As for major economic crises I think dangers are higher now than any time since GFC.

The rouble keeps crashing (I have stacks from my last trip - not worth cashing because of depreciation). Sanctions will cause it to dive further. So far from some plot against the dollar, I see an attempt to hedge against depreciation.It tends to keep its value
Click to expand...

Appreciate your canter , now lets go down into some deep stuff ;)
Now I'm not going to try & trap you into any setup questions .

Just a simple question , are you happy to hold your fiat currency in our banks ?

Cheers
Jack
 
diggit said:
The doomers will eventually be right.....but when?

What if they're wrong for another 30 years?

Diversity of assets is prudent.
Click to expand...

I completely agree with a diversified portfolio (not crypto)

One of the greatest asset for me is an educated mind,especially "a big picture" education including finance and world politics.

Regards :Y:
 
Heres my theory, maybe Im wrong, in fact I hope I am
Gold (and silver) is one of the most manipulated commodities, known not only as a commodity, but as money (store of value).
Currency (medium of exchange) like the British Pound and the US dollar was backed by gold, giving it value. This was devised by sir Isaac Newton in 1717 naming it the Classical Gold Standard. The US gold backed dollar was made a Global Reserve currency thanks to the Bretton Woods agreement in 1946 and cemented it being the Petro dollar thanks to the Saudi deal for oil in 1974.
The US currencys final connection with gold ended in 1970 thanks to Nixon so how does this affect gold now?
To answer that I have to mention a group of bankers and politicians including JP Morgan, who secretly formed what is now the Federal Reserve System on Jackyll Island and with the help of some shady politicians, managed to pass it into existence in 1913 (too long a story to tease out here but a must to know on how deep the rabbit hole goes) however
Fed Reserve Treasury Bonds (paper certificate) are drawn up and sold by the Fed in order to generate electronic US Dollars at interest, some of which is used to pay interest on debt. This increases the money supply and generates inflation when filtering through the US and global economies.
Simply put, more dollars have less purchasing power (inflation) leading to the devaluation of the currency. Gold should be valued higher (when measured in USD) by virtue of this fact alone
Why do we need to know this?
Spot gold price is the proverbial canary in the miners cage, if/when enough people realize fractional reserve banking is nothing more than pyramid selling they'll cash out for hard assets of true value like gold.
A subtle version of this is called hedging which the market likes and encourages, but if the market saw rapid jumps in gold price, this could be very destabilising to global economies as it may indicate that enough people have caught on that US currency (global reserve currency backed by nothing) isnt worth the paper its written on and want to fly to the safety of a rare tangible asset like
It is thought that the illegal activity of naked short selling has been carried out by Commodities Banks for decades aimed at suppressing the true value of gold. Gold ETFs on some commodity exchanges are no longer settled for delivered physical gold, just electronic currency, so its literally just paper shuffling.
Gold is real money (store of value), dollars however, is just a currency (medium of exchange), people dont realize this fundamental difference, suppressing the gold price keeps your average joe from asking bigger questions, one day the game will be up (like it very nearly did in 2008) but the big one will come at a devastating cost and the best asset for those times will be a gun
The names and dates are correct but please feel free to correct any part of my theory as you see fit.
As I said at the beginning, I may be wrong and I hope I am but for the reasons mentioned above I think certain commodity markets (including Oil) and the entire (Fractional Reserve) Banking system is corrupted to a point where the last thing to influence golds price is natural market supply and demand or its true rarity
:)
 

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