Gold Price Discussion

RM Outback said:

Don't waste your time waiting for the 31st, today's price is ahead

Obviously quoted price is 24 carat, I set the gram price at 22 carat for the simple reason most people selling gold is in natural form not bullion.

won't let me load the picture

Anyway the ounce bullion price was $2974.20 (24 carat) at the time I took a screen shot. Setting the gram price at 22 carat comes in at $87.65

Here's the error message that came up when I tried to load the screen shot picture I took. Well I'll BF it won't allow me to load any pictures

Click to expand...

$3005 last night our time RM,exciting stuff breaking through the 3k barrier but it's just our dollar dropping also,they'll put diesel up to $3 a litre again now

Moneybox said:

View attachment 8729

I love the way this chart has the ability to see into the future... I'm charging the detector now because I want to be there by the 31st

Click to expand...

It is great for Australian prospectors. However it is interesting to see its real movement which is controlled by the USA. The price in Australian dollars is controlled by our exchange rate with the USD, and has limited control by gold's actual movements. If in USA and you bought around its 2011 peak, you would have made almost nothing in the12 years since (and there is no interest to bank over that period). In fact you would have directly lost money on your purchase outlay between then and early 2021, despite inflation. And it is pretty flat for 3 years, and the Ukraine War and the current inflation cum recession threat has had no impact whatsoever. So we should praise the fall in our Australian dollar....

The problem with gold is that its price is not that of a normal commodity.

It's only good if you actually sell your gold or you are trading gold (in the right direction). My brother just sold his to the Perth refinery yesterday and got better than nugget price. It cost him somewhere under $300 for the assay test but it didn't matter due to the volume sold. He purchased his wife a new Subaru Forester and covered a good chunk of the price with the gold.

The gold price looks to me like it doesn't know what to do. Having crested the $3k mark last week or so, it's just quietly simmering. Perhaps buyers don't have the money, and sellers are waiting for bad news somewhere in the world.

Got close last night.
Silvers going quite nicely too.
Id be a lot more excited if I had a hundred ounces or so.

Those 1 oz buttons are looking good now.

Very good for us, but I’m resisting the temptation to get too excited. Gold goes up, gold goes down. Over a long term it will trend up but then almost everything else does.
Living in a dingy caravan in the early 2000’s with a small jar of gold, sold that to put a deposit on a house, lived in that for a while then sold it and with its capital appreciation was able to buy a country acreage outright debt free.
I don’t plan to die looking at a jar full of gold, I'd rather die doing what I love, searching for it.
Edit I should rephrase the last bit as my mate always corrects me saying "nobody loves dying"

dam it said:

Whats everyone's thoughts on Bullion reaching $100 a gram this week ( $3110:00 Oz )
I,m getting Excited

Click to expand...

It's making another run at it Dam It.

go you good thing

Yeah, Gold going up, but the $Aus going down, talk of Oil going to $300 so watch life getting more expensive.

This is the Gold Chart in Aussie Dollars, it is cracking along in an increasing trend and at present in is just over $99 per gram or $3080 per oz



cheers dave

Over $100 gm
Very nice.

Yummy hey?

and still going up, it's in Blue Sky territory now, so who knows to where

Just a bit of shame that the rise is only happening due to the sad state of affairs world wide.

well gold has really kicked into high gear now $3252/oz or about $105.50/gram
this is the gold price chart in Aussie dollars this morning 5th March 2024

well gold is still hitting new highs $3380 per oz or 108.50 per gram or there abouts, it changes every second

Gold has grown over 6¼ times ($537) in the last 20 years. I wonder how wages, food and housing done,

Up up up