BREAKING! Gold just hit all time high! What's going on?

[Imran Khan]

It will crash when they stop printing dollars by the truckload.

it will crash any how mark my words its just a gamble sir like past many times

 

[Dexon]

 

[LeGenD]

Its nothing to do with pandemic. More with what's going on between China and US. America hate gold, as it undermine its dollar.

America LOVES gold actually. They have stockpiled a huge amount of GOLD by now.

Extremely strong USD is not in the favor of USA in reality; this dynamic is hurting American manufacturing sector. They are unable to compete with the Chinese in this domain due to this factor alone.

Few people get this; BALANCE is the single most important theme of Accounting and a challenge in Economics. The real struggle is to achieve and maintain this BALANCE but external shocks continue to throw challenges in the path.

 

[ZAC1]

Its nothing to do with pandemic. More with what's going on between China and US. America hate gold, as it undermine its dollar.

Whether its btw china n US...Gold price's will definitely come down as pandemic is over or we have vaccination atleast available.

 

[PakAlp]

Pakistani women are so upset. Lol.

Tell me about it lol

 

[PakFactor]

O yaar,

Read The Momentum of History... figure it out @Rafeh @ps3linux @PakFactor @vi-va

For now see just Dollar vs. Gold ....

We must get Ready for Initial Stages of CurrencyWars!

Well one recommendation I will give us to short certain sectors of the market; because we are going to be seeing down sizing of companies across the board. Tech I feel will hold strong, espically companies like Microsoft providers of WFH tools. Basically the jump is gold is people hedging against market down turn as few companies are reporting good earnings.

 

[ARMalik]

My advise, get the Hell out of US markets as they will crash with the crash of the US Dollar. US will see high levels of inflation in the coming months. Printing money out of thin air without any sound productivity support has implications, and inflation is one such outcome.

Another thing, all these FUTURES Gold contracts, there is a big game being played here. If even 5% of the Investors in these Futures markets start to demand possession of Physical Gold, you would have one hell of a crisis, and the price of Gold will go up 10 times if not more. I hope this does not happen as it will have a devastating impact on many markets.

 

[nahtanbob]

This has to be the biggest con ever pulled in human history. American Federal reserve bank keep on printing the dollars out of thin air with no intrinsic value to it, and expect world to keep on using dollar as reserve currency. America will go to war if attempts are made to destroy this system, so rather taking a direct approach, there should a parallel system for those who wants to get out of this system with more value based one. Those who want to remain in dollar dominated system, can stay there.

We can switch to the gold standard tomorrow. the world would be in a fierce recession for a couple of decades
no one wants that - including detractors of USA - China, Iran or Pakistan

My advise, get the Hell out of US markets as they will crash with the crash of the US Dollar. US will see high levels of inflation in the coming months. Printing money out of thin air without any sound productivity support has implications, and inflation is one such outcome.

USA still makes a lot of semiconductors, biomedical equipment, capital equipment and the intellectual property behind it. USA is a major producer of farm products and energy

gold bugs have been proclaiming the demise of the dollar for 2 decades. One of these days they will be right

 

[ps3linux]

O yaar,

Read The Momentum of History... figure it out @Rafeh @ps3linux @PakFactor @vi-va

For now see just Dollar vs. Gold ....

We must get Ready for Initial Stages of CurrencyWars!

Beauty of open forums is that one continues to be mesmerized by the sheer volume of knowledge one gets free of charge. Some may consider it as Think Tank Level exchange, some may think of it as they say in urdu "koozay mein darya band kar dena" , one sentence and all the issue of economy are resolved.
PUN Intended.

Few factors, I have pointed out some in the other thread where we were discussing the same.

One, few companies control the production of gold across the globe. They make sure gold remains relatively scarce so they mint maximum money. Case against Pakistan in International Courts over Reko Dik was not for the agreement but to control the third largest known gold reserves in the world.

Two, understanding London Bourse/COMEX the options, paper vs physical the current ratio is mind boggling (I updated myself goodness gracious from darn 10x its now in the upper triple digits)

Three what happens when options mature how they are converted/delivered in physical, who pushes the price up.

Four Due to COVID 19, production of Gold has come down significantly.

Five, Country states piling up gold and the pressure upon delivery. The demand and supply curve.

Six, demand for heavier elements in high end electronics.

Seven, Whenever there is a global conflict, the demand for physical metals (Gold/silver may be platinum and Paladium and few others for different reasons by different end users) pushes the price up, remember production is controlled globally, output is certain and fixed figures, when demand increases production is not increased unless there is a push by Uncle Sam, thus price increases.

Eight, when the investment banks want to screw people (opting for options or those shorting) they push the price and then crash it.

Still not at my best, still recovering, medicine side effects so might have left out a few others.

Forgot one, relationship between treasury yield and gold price.

The Gold Cartel:

1. Newmont Goldcorp: 158.7 tonnes.
2. Barrick Gold: 140.8 tonnes.
3. AngloGold Ashanti: 106.1 tonnes.
4. Kinross Gold: 77 tonnes.
5. Newcrest Mining: 76.4 tonnes.

And their accomplices in artificial prices JP Morgan, Morgan Stanley, Goldman Sachs, HSBC, Credit Suisse, Citi Group, The Fargos

 

[bafxet]

Its nothing to do with pandemic. More with what's going on between China and US. America hate gold, as it undermine its dollar.

The problem is that dollar people take an extra advantage. The bar companies and countries for not going according to their wishes.

 

[Yaseen1]

i think our govt should devise a barter system based on points for exchange of value among different people,it requires complex valuation system by which points should be allotted to every individual performing their job and these points should be proportional to status of jobs and should be utilized on buying and selling items,if this can be implemented successfully we can get rid of unjust economic model based on printing money and our economy can get rid of manipulation by zionists bankers who are promoting poverty across third world countries

 

[Goenitz]

We just sold 2 bars, 2 weeks ago... at 1100£ profit each...
so, as there is nothing to invest.. people buy golds as to be saved by inflation. Stock prices are going down, property price is somewhat (bcz demand is still high) falling... so gold is a save investment.

 

[Feng Leng]

Digital RMB coming right up!

 

[Yaseen1]

i think among many other causes one might be due to tradewar with china western companies controlling gold may be deliberately doing this so these metals used in production of items in china become more expensive resulting in less demand of these products and damaging chinese industrial output,this is time when we take big decision and utilize our gold reserves in balochistan for mutual benefit of china and Pakistan

Beauty of open forums is that one continues to be mesmerized by the sheer volume of knowledge one gets free of charge. Some may consider it as Think Tank Level exchange, some may think of it as they say in urdu "koozay mein darya band kar dena" , one sentence and all the issue of economy are resolved.
PUN Intended.

Few factors, I have pointed out some in the other thread where we were discussing the same.

One, few companies control the production of gold across the globe. They make sure gold remains relatively scarce so they mint maximum money. Case against Pakistan in International Courts over Reko Dik was not for the agreement but to control the third largest known gold reserves in the world.

Two, understanding London Bourse/COMEX the options, paper vs physical the current ratio is mind boggling (I updated myself goodness gracious from darn 10x its now in the upper triple digits)

Three what happens when options mature how they are converted/delivered in physical, who pushes the price up.

Four Due to COVID 19, production of Gold has come down significantly.

Five, Country states piling up gold and the pressure upon delivery. The demand and supply curve.

Six, demand for heavier elements in high end electronics.

Seven, Whenever there is a global conflict, the demand for physical metals (Gold/silver may be platinum and Paladium and few others for different reasons by different end users) pushes the price up, remember production is controlled globally, output is certain and fixed figures, when demand increases production is not increased unless there is a push by Uncle Sam, thus price increases.

Eight, when the investment banks want to screw people (opting for options or those shorting) they push the price and then crash it.

Still not at my best, still recovering, medicine side effects so might have left out a few others.

Forgot one, relationship between treasury yield and gold price.

The Gold Cartel:

1. Newmont Goldcorp: 158.7 tonnes.
2. Barrick Gold: 140.8 tonnes.
3. AngloGold Ashanti: 106.1 tonnes.
4. Kinross Gold: 77 tonnes.
5. Newcrest Mining: 76.4 tonnes.

And their accomplices in artificial prices JP Morgan, Morgan Stanley, Goldman Sachs, HSBC, Credit Suisse, Citi Group, The Fargos

 

[Taimoor Khan]

America LOVES gold actually. They have stockpiled a huge amount of GOLD by now.

Extremely strong USD is not in the favor of USA in reality; this dynamic is hurting American manufacturing sector. They are unable to compete with the Chinese in this domain due to this factor alone.

Few people get this; BALANCE is the single most important theme of Accounting and a challenge in Economics. The real struggle is to achieve and maintain this BALANCE but external shocks continue to throw challenges in the path.

The balance you are referring to is perhaps what the metal hoarders refers to as the ETFs. They hate it. I don't know how true is it, but there is strong belief that through ETFs, precious metals prices are manipulated and the real value is never allowed to be settled. There is a theory that there is not enough actual physical precious metal in coffers of banks/institutions what has been sold on the paper/electronically. A scam, put it simply.

Digital RMB coming right up!

It has to be backed up by real value, otherwise it will be another dollar.

View attachment 656021

The graph also corresponds to the rise in temperature between Beijing and Washington. Corona might go, but this tension might keep on increasing with time with global consequences.