...since i start looking gold fell below $800 US for the first time in a while

anyone else here buy gold? i can't wait till i get my first oz. i want it now(not because i am materialistic, i just want it because it looks so pretty:shy

Sorry if it's plain stupid (I know it is)...
http://www.foundshit.com/images/capitalism-rocks-protest.jpg

Sorry again, I couldnt resist.

lol wut?

Why would you want to buy a lump of gold? Its pointless - does nothing and its just waiting to be stolen. Buy one of these instead:

http://www.goldgenie.com/store/products/51

At least it does something.

Quote from mcintyrej :

Why would you want to buy a lump of gold? Its pointless - does nothing and its just waiting to be stolen. Buy one of these instead:

http://www.goldgenie.com/store/products/51

At least it does something.

who'll try rob my gold?pirate:

as i said, its more of a hobby...

anyone who owns a pc owns gold. Most computer parts have gold in them.

Quote from Luke.S :

anyone who owns a pc owns gold. Most computer parts have gold in them.

Do you actually know how much (read - how little) Gold they have?

Quote from Luke.S :

anyone who owns a pc owns gold. Most computer parts have gold in them.

But neigh on impossible to get to without using chemicals that create toxic fumes.

Quote from mcintyrej :

Why would you want to buy a lump of gold?

It has value, and will have value outlasting any country. The US dollar has lost half of its value in the last eight years, while the price is gold is very steady.

Quote from Lateralus :

It has value, and will have value outlasting any country. The US dollar has lost half of its value in the last eight years, while the price is gold is very steady.

Exactly. When the shit hits the fan and our financial markets are in disarray, people go back to precious metals for wealth.

And our dipshit government sold off half of Britain's gold reserves right when the gold market was bottoming out, too.

Quote from Lateralus :

It has value, and will have value outlasting any country. The US dollar has lost half of its value in the last eight years, while the price is gold is very steady.

That is because Nixon got rid of the Gold Standard which kept your money valuable. If he never got into power USD would be worth more than GBP.

WTF happened today!


can some explain which market forces do this?

Of course the price is falling, people are interested and presumably supply is high. However you still can't go too far wrong with it. Refer to the gold thread here posted a few days ago.

Quote from CSU1 :

anyone else here buy gold? i can't wait till i get my first oz.

You don't have to get a full ounce. They sell gold coins all the way down to 1/20 of an ounce.

http://www.lfsforum.net/showthread.php?t=49055

That's the other thread that was recently posted.

I'll also add that I don't believe gold is the safe haven that it once was, these days I look at it just as another commodity.

If your investing in something it is good to get a bit more history on it than just the last couple of years. I remember back in 2002-2003 when gold was hitting 180 an ounce and everyone believed gold was brocken and would never recover to it's glory days. Well they were proved wrong as from that time until now it has had a great run. I find it interesting though that it has found strength along with all the other resources and imo is much more closely linked to it's value as a resource than any percieved value as 'safe haven'. So I would not be suprised to see its value drop along with other resourses as the world economy slows.

If I was looking to invest a few hundred to a few thousand pounds at the moment for an investment term of approx five years I'd choose to buy shares in big banks or companies that have had there share price pulverised but the government have steped in and guaranteed their safty. Buy on down days when everyone else is selling. Also if you have several thousand buy in thousnad pound lots each time the stock reaches a new low or approaches it's previous low don't put all your money in in one hit.

The higher the potential reward the higher the precieved risk will be. The trick is understanding risk and learning to minimise it's effects while being positioned for taking andvantage of good rewards. If something looks like a great long term investment then most likely at best it will be a good short term investment. Alternatively if you think something sucks now but believe that it will look good five years down the road it probably will be a good trade short term also.

If everybody is jumping on the band wagon, I'd suggest it's a good time to get off as it is likely to get to a point were it is overloaded and the wheels fall off. Conversely if you see a band wagon that has had a sever crunch but still looks in tact and resonably sound then it probably is a good time to jump on while it is lite and agil as the ride is bound to be much more fun.

Good luck and do thorough research - money doesn't grow on trees you know

Does nobody understand that Gold is buyable, AND sellable. You can buy at a low price and sell at a high price. When the demand is so. It's a game, one big money game, but instead of it between currencies, it's just Gold that you can make money with. When you're done with your gold, you can be alot richer. You could buy some for say 1kg for $28,000 dollars, but a jeweller might need gold to make new items, and need cheap gold, the price my have risen in gold alot say up to 35,000 , but you can sell it to him at 32,000, less than the highest current price, therefore him getting a good deal on the current market, and you making a profit.