/biz/ - Business & Finance

The people who say that are cranks. You should not listen to them.

>>650513

People are currently investing in gold due to market uncertainty and increased volatilty.

>>650513
Stop drinking conspiratard liquid bullshit.

>>650532
This is valid. There are legitimate reasons gold could go up, but gold becoming the new reserve currency or only gold being valuable because of a global economic collapse are not among them.

>>650532

>investing in gold

>>650551

>HE ACTUALLY THINKS IT'S POSSIBLE TO INVEST IN A METAL THAT CAN BE DUG OUT OF THE GROUND

>>650513
>I've heard people say that the world currency is going to change, and that if you don't have any gold you will be in very very bad shape. Are people exaggerating?


Stop going to /pol/ and stop being so stupid & unaware of the world that you believe shit like this.

Gold should go up and we're edging closer to global economic meltdown

Gold = valuable commidity which is the basis for most currencies (except the dollar which is backed by none other than oil)

Just buy gold through a broker on leverage lol and make hard profits, lets face it our technological systems are far too complex to let any modern currency fail

>>650627
No. Just no.

>>650627
>which is the basis for most currencies
Name me 1 currency in the world backed by gold.

Just fucking try.

>>650627
>we're edging closer to global economic meltdown
Dude, people have been parroting this since 2010 and mad gains have been made since then. Why do you have to be such a doomsayer?

>>650513
Go to bed, Mr. Schiff

>>651354
I still haven't figured out if Schiff is actually an idiot or is just pretending to be one so idiots will give him their money.

>>651337
Every single year a bunch of people say the sky is falling. Every now and then there is a downturn / crash so eventually they are correct. LOOK AT ME GUIS I TOLDS YOU IT WAS GUNNA HAPPEN NOW BUY MY BOOK AND WATCH MY VIDEOS IM AN EXPERT!

>>651359
Sadly, I do know people like this. They invest a small amount into ETFs, they drop 10% and panic, while screaming: SHIT SHIT SHIT MARKETS ARE TOO VOLATILE

These are the sort of people that think a .05% savings account rate is a good deal, because MUH FDIC MUH GUARANTEED INTEREST

If u guys aren't recommending gold, what do you suggest is the best thing then?

>>651368
It's always productive assets: stocks, bonds, and real estate.

>>651357
The latter is definitely true, I'm still on the fence on whether he's acting or is seriously this delusional.

>>650513
Putting a small portion (2-5% depending on your age) of your portfolio in precious metal funds is not a bad idea.

>>650513
It'll bounce but I don't think it'll stay up for long. The bears are here for a reason. US QE is over and a benchmark rate raise is imminent. Oil is low and this supply overhang is likely to continue for years meaning less demand for gold based on Middle Eastern oil profits. Euros liberated as a result of EU QE are extremely likely to prefer cash denominated securities and profits are most likely to find their way into American securities in the long-term. A recovered economy means gold production is likely to grow even with value down compared to 3 years ago which amounts to fuel for bears.

So all in all I think gold value is likely to stay swamped for a quite some time but in the mean time it could do $1,300 but I don't think it's likely to stay above that level for very long in the current macro environment.

Money supply is being reigned in, the dollar is very bullish so in brief, no, the price of gold is not going to go way up. I think it's more likely to drop under $1,000 before it rises above $1,800, maybe even $1,400.

>>651406
That depends on the size of your portfolio and the duration you intend to invest.

>>650627
>Gold should go up and we're edging closer to global economic meltdown
That would reduce liquidity and cash supply. Defaults decrease liquidity and money supply, that leaves people with less money to buy gold and that leaves people with gold selling in order to maintain their debt so the feds don't come to their house to confiscate everything they've got.

Next recession won't be the same as the last one.

>>650532
>People are currently investing in gold due to market uncertainty and increased volatilty.
Silly people maybe but the people that are really rich are investing in the USD as can be seen by the US dollar index and XAUUSD

>>650513
The age of gold and silver is over forever. There is no trust left in the market. The Chinese counterfeit every single gold and silver coin ever made. You'll never be able to sell that shit without getting absolutely scalped.

>>650513
>Mfw asteriod mining robots flood the markets with cheap precious metals
>Mfw gold becomes worthless
>Mfw mass shitstorm occurs

Star Trek economy when?

>>652245

>mfw wrapping my leftovers in platinum foil

>>650551

>posting a reaction of a jewess who scammed hundreds of thousands of dollars from white knight omegas and naive young women to mock someone who realizes gold is more valuable than paper the jews are "creating" out of nothing

Now that's ironic. Whats more ironic is that the jews realize their phony currencies will soon implode and are hoarding gold.

>>650513
you can't transfer gold over the internet tho

>>652589
Burying gold in your back yard and stuffing cash under your mattress are equally not investments. Look at where wealthy people actually put their money (productive assets).

>>650621

>the economy is never going to collapse due to hyper inflation

>>651337

>someone says the sun will one day run out of fuel and die
>it didnt die in the past 5 years
>therefore it will never die

>>651370

Yes, buy real estate in the middle of the housing bubble :^) House prices will continue to rise!

>>652245

Nobody alive today would live to see that happen. The amount of fuel needed to send something to space would far exceed the value of anything they bring back down.

Also, you're implying the merchants who have a monopoly on that wouldn't hoard 99% of it to keep the price up, just like they do with blood diamonds.

>>652601
>the economy is never going to collapse due to hyper inflation
It doesn't look like it. We're facing deflation right now.
>someone says the sun will one day run out of fuel and die
Terrible analogy. If that someone says that the sun will run out of fuel and die any day now, that would be closer. See: stopped clock.
>housing bubble
Housing has returned to historical norms. Of course, normal markets go in cycles, but a productive asset will be generating cash flow for you anyway. (P.S. There's real estate besides housing).

Your gold just sits there and does nothing.

>>652601
>Also, you're implying the merchants who have a monopoly on that wouldn't hoard 99% of it to keep the price up, just like they do with blood diamonds.

Are you retarded? Look at aluminum- it used to be considered a precious metal, until the Hall-Heroult process flooded the market. Aluminum is now plentiful and dirt cheap.

Also asteriod mining is definitely feasible, as unmanned spacecraft is MUCH cheaper to send into space than manned, and with advances in 3d printing space mining could become feasible.

So keep holding onto your gold, faggot. It's gonna keep declining in value for years to come. :^)

>>652623

>implying I hoard gold

Aluminum was hard to refine for a couple decades, that doesn't mean shit.

Gold has been used as currency for the past 20000 years. It is in high demand due to it being a super conductor, and is being consumed more and more in electronics. Also its valued for its cosmetics.

>>652629
>Aluminum was hard to refine for a couple decades, that doesn't mean shit.
It does mean shit. It was expensive as hell. Now it's not.

>It is in high demand due to it being a super conductor, and is being consumed more and more in electronics.

Most gold isn't even used in industry.

If the supply skyrockets, the price will definitely go down. Gold is quite possibly the worst investment one can make in 2015 and is increasingly becoming irrelevant.

>Also its valued for its cosmetics.

Most of the value of gold comes from the fact that it is a scarce resource. Stainless steel is shiny an cosmetic, but you don't see people buying it for $555 an ounce

Gold is going to drop to historic lows. It's not an investment, it doesn't produce anything. It's just a hunk of metal.

>>652592
wow hi
its like a money
that has my name

but i do not make money off of it

what do?

>>652629
>Gold has been used as currency for the past 20000 years
No it hasn't and it isn't even used as currency now.
>It is in high demand due to it being a super conductor
Not really. Even being generous, all industrial demand combined is under 20% of the total gold demand and I've seen statistics of falling demand from the electronics sector.
>Also its valued for its cosmetics
That's what it's mostly valued for. People like it because it's shiny and psychologically ingrained.

>>652633
>>652643

Wow you goyim really have a lot of faith in your debt based fraudulent currency.

>No it hasn't and it isn't even used as currency now.

Gee, I wonder why... Perhaps because if it was actually based on somethnig, the bankers who have a strangle hold on the goyim couldn't print it out of nothing.

>>652650
Good goy, yes, buy this gold for $50 dollars above spot, of course you'll make that money back goyim! You can't trust the Fed, you know goy. Gold is the only real currency, even though it's not useful as a medium of exchange. Good goy.

>>652650
That implies that gold is based on something. It isn't unless you count psychology. If anything, fiat currencies have more of a basis since they're backed by the economy of the issuing nation.

>>650513
If greece leaves the Eurozone and oil stays so cheap that the US fracking miracle fizzles, it could be a good idea to own hard assets. But gold is a pretty volatile hard asset, since it has no real use and people speculate on it so much.

>>650533
>>650621
>>650516

Why is /biz/ so based? All the other boards are full of morons or no one that wants to call them out on being morons.

>>652663

Gold is based on a physical material that is hard to obtain, meaning goldberg couldnt just print it out when ever he feels like it.

>>652662

Now thats ironic

>>652662
your memes are shit

>>652643

>No it hasn't and it isn't even used as currency now.
I call bullshit on that. Look up "XAU" in the ISO currency code and tell me GOLD IS NOT A CURRENCY! Same goes for silver ("XAG"). And why do a number of nations mint bullion coins - e.g. American Eagles, Canadian Maple Leafs, Mexican Libertads?

>Valued for its cosmetics
If that's so, I wonder why central banks of various nations stockpile gold bars. The international equivalent of flashing your bling to the block to show how much of a badass you are?

>>653050

>Gold is based on a physical material that is hard to obtain, meaning goldberg couldnt just print it out when ever he feels like it.

So is iridium, or palladium, or ruthenium, but they're worth anywhere from a half to a twentieth of the price of gold. Any platinum group metal could work, but feel free to explain why gold is worth the same as platinum per ounce despite there being 10x as much supply above-ground without invoking psychological reasons.

>>653050
>Gold is based on a physical material that is hard to obtain, meaning goldberg couldnt just print it out when ever he feels like it.
That doesn't give it any sort of intrinsic value.
>>653188
>I call bullshit on that. Look up "XAU" in the ISO currency code and tell me GOLD IS NOT A CURRENCY!
Okay. Gold is not a currency. Neither is silver.
>And why do a number of nations mint bullion coins - e.g. American Eagles, Canadian Maple Leafs, Mexican Libertads?
Because people buy them. You'll notice the face value on those things are well below spot value.
>If that's so, I wonder why central banks of various nations stockpile gold bars.
Two reasons:
1. Holdover from the gold standard. Countries like the U.S. just have piles of gold laying around that don't really do anything.
2. Gold is a deep market and lets giant players like governments diversify their holdings from just holding sovereign debt. Governments do not do things for the same reasons as individuals.
>The international equivalent of flashing your bling to the block to show how much of a badass you are?
Stop drinking the kool-aid.

>>650513
>>650513
these are scare mongers. the loudest probably have an interest in you buying gold.

That said, you could probably make money speculating on gold (and bitcoin, and the Chinese can't counterfeit bitcoin) if there is a grexit. But that doesn't mean it's a good investment, just speculating that the people that listen to gold bugs will give the price up, and you can cash in.