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Gold: Best defence in a genuine currency war, says Frisby
Gold: Best defence in a genuine currency war, says Frisby
Every investment needs a good story if it’s going to fly.
“The internet is going to change the world”, drove the dotcom bubble. “They’re not building any more land,” drove buy-to-let. “The Chinese want the things we take for granted – and there are just so many of them,” drove commodities.
One of the reasons for gold’s demise is that its story lost its magic. It no longer seemed relevant.
I’ve said before that gold needs a new narrative. I didn’t think it would come so quickly.
But I think one may be starting to form.
The big financial story of last week was China’s repeated devaluation of the yuan. In just about every related article – and in many of the headlines – the phrase ‘currency wars’ has appeared. It’s all over the papers, TV and the internet.
Read the full article by Dominic Frisby on MoneyWeek here.
Gold in GBP - 1 Year
DAILY PRICES
Today’s gold prices: USD 1,137.95, EUR 1,019.80 and GBP 7128,54 per ounce.
Yesterday's gold prices: USD 1,123.20, EUR 1,017.71 and GBP 716.90 per ounce.
(LBMA AM)
Yesterday, gold finished trading with a gain of 1.34% or $15.00, closing at $1,132.70/oz. Silver rose 2.55% or $0.38, closing at $15.26/oz.
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BREAKING NEWS
Gold climbs to 5-week high as Sept Fed hike hopes fizzle – Reuters
Gold Holds Gains After Biggest Advance in Three Months on FOMC – Bloomberg
Asian shares slide; dollar loses edge on Fed minutes – Reuters
Vietnam devalues dong to protect exports, offset China’s yuan action – Reuters
Cash-Strapped Venezuela May Sell Gold Reserves, Citigroup Says – Bloomberg
IMPORTANT COMMENTARY
Gold: the best defence in a genuine currency war? – MoneyWeek
Video: Threat to Bitcoin with Its “Y2K” Moment – Bloomberg
HSBC expects gold price to be up 10% by the end of 2015 – GoldSeek
Doug Casey on Why You Should Go to Africa Instead of College – Casey Research
World Skills winners show university not the only way to a brilliant career – David McWilliams
Click on News and Commentary
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No one can spell.
Right. Because it hurts a lot more to be hit in the head with a gold bar than with a wad of paper!
I've been buying physical silver since around 2008, my first 10-oz bar costing around $90. I've been buying ever since, all the way up to $50/oz. I don't know what my average cost is, but it's surely a little higher than where we are now. I'm down 50% in PSLV since I opened a brokerage account. Why am I telling you this? Because even after taking a freaking anal exam from these silver purchases, I'm mostly content in what I've done. Because, I understand the silver market now better than I ever did. I understand the forces at work to move the price, mostly. I figure with that knowledge I'm happy to be "underwater" here, knowing that you never lose money in a situation like this until you sell.
And I'm not selling. I'm looking at my physical silver as an inheritance for my son.
-Argenta
@argenta... couldnt agree more.. this is exactly the approach to PM acquisition. Wish I had started in 2008. Still Irish proverb... when is the best time to plant a tree, 20 years ago... when is the next best time... NOW>>>
www.teamramgold.com/about-us
Talk of a "currency war" is foolish and unnecessary. The Chinese action in devaluing the yuan by 4% was purely defensive in nature, and only partially offsets the increased value of the dollar to which it was pegged.
... south korea....kazakhastan....??
Lost me at the 'offshore storage' ad. In my hand, bottom of a lake, or I don't own it...the guy storing it does and I don't trust the shifty look in his eyes.
Next you will be saying that boat accidents are bad places to hide PMs?
http://www.bbc.com/news/world-europe-33880350?post_id=10206524454367274_10207332747094087
It will prove to be more than a little jingle in your pocket
Buy Gold, Silver, Platinum and Palladium Bullion Bars and Coins with Euro, Great British Pound, US Dollar, Bitcoin and multiple cryptocurrencies.
https://www.eurgold.eu/
youre as bad as the guy who advertises that his sister makes $7000/week-working part time as a prostitute
50 foot of rope might be a smarter way to stop a currency war. The very idea that acurrency war does anything other than rob everyone requiers a mental tripple Lindy. By its very nature it destroys the economies involved.
If you can't hold it in your hand it's not real, and if it's not shiny it has no real value.....
while i applaud your atheism (you can't hold god in your hand, therefore god isn't real according to your reasoning), i think it's a mistake to say that honor, virue, love, wisdom, are not real because it's not something you can hold in your hand.
you have a narrow concept of what's real.
maybe you should get real.
and what if you're a double amputee, and have both your arms missing? does that mean nothing is real, because you can't hold anything in your hands? so losing your hands causes you to lose all connection with reality, and life becomes one big hallucination?
and how about if you hold something in your mouth instead of your hands, would that give it some reality?
mona lisa has no value? rethink that one dude.
I also can not hold my Viking 62 in my hand...my boat is not real? Try again.
Try making change with it
we few, we happy few, we band of silver holders . . .