Gold Prices - Page 2 - Coin Community Forum

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Author	Replies: 21 / Views: 2,182	Page: of 2

Jim1953 Pillar of the Community United States 2600 Posts	Posted 11/03/2007 9:53 pm The number one use for gold is jewelry. Growing populations and emerging economies along with capitalism taking hold in China adds up to higher demand for jewelry, aka gold. Jim Report this Post to the Staff
gxseries Pillar of the Community Australia 3831 Posts	Posted 11/03/2007 10:15 pm Jim is on the right track - it's not only the industries that are demanding gold for various plating, electrical purposes but it's always people who wants a bit of gold for jewellery, whether it to be gold plated or a heavy gold chain chunk. Gold has always been a status of symbol in Asia and therefore they will keep buying - it's not difficult to tell that the population in both India and China will keep on raising and these are the countries that are pushing the demand up and up. My partial coin collection http://www.omnicoin.com/collection/gxseries My numismatics articles and collection: http://www.gxseries.com/numis/numis_index.htm Regularly updated at least once a month. Report this Post to the Staff
Jaobler Pillar of the Community United States 6394 Posts	Posted 11/03/2007 10:48 pm Hi Heather the Hoarder, Quote: "Rhodium is notoriously volatile and dependent on supply-and-demand. In the past, it has skyrocketed like this and then plummeted dramatically." Whoa, those price charts are unbelievable. Amazing that as recently as the late '90s rhodium was (briefly) less than $200 per ounce! I missed out on that opportunity. Seeing that the price is so volatile, I will wait for a better price before I consider buying any. I also have a (small) collection of metals. Not to completely digress from the thread topic , but I have an 18-gram lump of what I think might be iridium. Are you aware of any useful test that would help confirm its identity? I know the melting point is super high, because I could barely melt it with the hottest flame I could get from an oxyacetylene torch. My platinum lump (which I know is platinum) was much easier to liquefy with the same torch. Report this Post to the Staff
SA4H Pillar of the Community United States 2764 Posts	Posted 11/05/2007 4:00 pm I agree with gxseries: Gold is by default the "value holding" for human kind. Ever since its discover, gold had been used and contributed to human kind. Especially in unstable region/time. For every single war in this world, people fall back to gold/precious metal. Except for countries that still have "gold backing" for their currency, every single piece of coin/note that you are holding in your hand are worthless overnight, if the government that issued is shattered. Remembered Germany in WWI and WWII? How about Yugoslavia in the 90s? Whenever things like that happened, people will stockpile gold as a way to secure their wealth! More people = more demand for gold Instabilities in the world = more demand for gold Industries uses increased = more demand for gold Gold price and oil price are some how correlated Currently: China (1.3 billions) + India (1.1 billions) + Indonesia (234 millions) population alone are one-third of the world population. They are the people who valued gold more than their own money! They use gold as saving and they used gold for jewelries too. Current US political situation, Arabs nations (including instabilities in Pakistan right now), Africa are all considered instabilities - more than in the 90s. There are more use of gold in industries now then ever before The Middle East political climate is very volatile, that get people worried - oil supplies are mainly from that region ===> oil price continue to climb and there are more demand for oil as heating as Winter is approaching. *Someone mentioned the FED cut rate, YEP that will devalue the US dollar, which make gold more attractive than USD, which mean we, the people in the US, will see gold at higher price. However, people in other countries who used USD as to store their wealth (save/buy USD instead of use their country money and put them in bank) will trade in gold for USD. Market calibration is right here!***** All in all, Gold Will Go Up! The question is when will it stop? May be to 1000 USD by end of Winter? Who know? I don't!! Report this Post to the Staff
SA4H Pillar of the Community United States 2764 Posts	Posted 11/05/2007 5:18 pm We always need to consider supply and demand. However, supplies from those gold mines are not immediate threat, since they won't have production output until 2010. Not only that, those gold miner are not stupid. They will not dump 10,000oz of gold into the market over night! They want to sustain the market value of gold! The immediate threat is any government that have huge gold reserve and an imbalance ratio of their currency vs gold (ex: USA) - such government can and will dump 50 tons of gold to the market. They are the one that will drive the market down. Imagine, the FED or some financial institution with lots of gold reserve will sell 50 tons of gold into the market in the next 6 months period to capitalize on the weak USD and also to "calibrate" the market and bring back the value of the US dollar (if you drive the price of gold down enough, people will switch to USD as their equity holding mean, instead of gold) Check on the "gold reserve" data on the world right now and see: http://en.wikipedia.org/wiki/Offici...old_reserves Just some of my weir thought..... Report this Post to the Staff
dahoov2 Valued Member United States 136 Posts	Posted 11/05/2007 7:53 pm I was lurking here because I am curious about this very subject. If the dollar declines I would think Gold would go up. But who knows. The thing that interests me about gold though is it's a world-wide commodity and can't you sell to a foreign market where rates are better? Of course there is that pesky exchange rate (kills me on UK postage I need). Report this Post to the Staff
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