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Gold sparkles in COVID-19 shadow

10 Comments
By Kevin TRUBLET

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10 Comments
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Oh my gold !

No more coins or ingots to eat soon.

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It was over 6000 yen a gram to sell for one day this month then up and down - it goes north of 6k again and I’ll be selling...and then buying toilet paper...

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With all the money printing going on now it’s hard to not want yer some gold!

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Yeah, Buy Gold... uh Why ?

Gold is no longer the underlying for Currencies, and the major Industry which uses Gold - Manufacturing Technology - is under shutdown - so prices should be infact dropping as no one is buying..... I smell a rat here, in terms of the old fashioned "Pump & Dump" approach.

-1 ( +2 / -3 )

We're now in a Global Recession according to the IMF - perhaps even 1930's style. So, time to decide what you wish to invest in - look back to History for your plans ahead. I would not be surprised if Countries even decide to go to War with China over this, certainly Law suits are currently being opened for seeking damages against China over the lack of transparency they showed during the early months - whether this will actually spark into a Military confrontation or not is yet to be seen ... though the decision by China to conduct Military drills in the South China Seas is clearly going to be an area of concern.

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@mmwkdw

Gold is an efficient insulator and protects sensitive electronics from heat...in space.

If countries want to visit other planets then gold is needed.

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Yeah, Buy Gold... uh Why ?

It’s a commodity that holds value. Some people feel it will give them currency if society collapses.

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@Strangerland & @Kruisupisu - this is a time when you, as an investor in Gold, are both going to find yourselves loosing your Shirts (Good luck). Markets don't "Feel" they are efficient and when they break down you are up the proverbial.... Over time, you may have learnt of the phrase - "Pump and Dump"... well this one is especially true nowadays, when you hear someone saying .. buy this ... its Great.. have a thought, do your research, maybe they are simply trying to push the Market higher so that they can sell a position off at less of a loss.... And if you think, the big Banks Compliance rules cater for that...think again... you dont think these banks work alone do you ?

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Look to the relationships between Senior Execs between the big banks, the Private Houses, and the markets that they deal within, when you assess a recommendation from one or the other.... bear that in mind.

This is common Trading Cooperative practice, but done at a much larger scale....

An old school English phrase - "You scratch my back, and I'll scratch yours" springs to mind.

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@Strangerland & @Kruisupisu - this is a time when you, as an investor in Gold, are both going to find yourselves loosing your Shirts

Where did you get the idea that I invest in gold?

Over time, you may have learnt of the phrase - "Pump and Dump"... well this one is especially true nowadays, when you hear someone saying .. buy this ... its Great.. have a thought, do your research, maybe they are simply trying to push the Market higher so that they can sell a position off at less of a loss....

It's a possibility, but look at the price of gold historically - and particularly at times of crisis, such as the 2008 financial collapse, and you'll see gold has held its value quite well. Seems to be a fairly secure means of holding value, particularly if one is worried the world is about to end.

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