Gold tops US$1,600 as virus fuels growth fears

[noobcarbuyer]

Those who bought gold in 2011 just broke even.

[Yewheng]

31 minutes ago, noobcarbuyer said:

Those who bought gold in 2011 just broke even.

Why don't you say let's compare to those bought gold at 2013? 2016? 2018?

In fact if you look at what's happening now, America now very unstable, fed will continue to print money, plus this recession is still at the beginning.. So gold still have long way to go up. Maybe by next week gold could hit 2.1k with no problem, it already hit 2060.. It just rise crazy fast where last week is 1.9k, this week is 2k.

 

Edited August 6, 2020 by Yewheng

[Yewheng]

https://www.straitstimes.com/world/united-states/us-moves-to-cut-china-out-of-its-telecom-internet-landscape?utm_medium=Social&utm_campaign=STFB&utm_source=Facebook#Echobox=1596727323

 

Also by reading this news.. How gold price not continue to go up? Saw many comments on Facebook praising good job America. Say America until so good get rid of China copying and security concern. These people just do not understand that now America is accelerating themselves towards currency crisis. Expect gold to continue to climb way much higher. 

[Albeniz]

What I observed.  My very over-simplistic view:

1. US jobless rate, economy data, poor handling of pandemic, unlimited QE -> US dollar drops

2. When USD drop, money flocks to safer havens->Swiss CHF rises despite of negative interests.

3. Gold prices also increases-> AUD  (gold producing country) also strengthens.  NZD also strengthens as AUD and NZD are twin brothers.

4.  Alternative currencies to USD (euros and GBP) also rise whenever USD drops.  Euros and GBP are ridiculously high now,  despite the pandemic and Brexit.  Not that Europe is performing well, but more because USA is performing much much worse.

5.  Now, SG Dollar sibei chum.

Anyone wants to add on?

[Yewheng]

37 minutes ago, Albeniz said:

What I observed.  My very over-simplistic view:

1. US jobless rate, economy data, poor handling of pandemic, unlimited QE -> US dollar drops

2. When USD drop, money flocks to safer havens->Swiss CHF rises despite of negative interests.

3. Gold prices also increases-> AUD  (gold producing country) also strengthens.  NZD also strengthens as AUD and NZD are twin brothers.

4.  Alternative currencies to USD (euros and GBP) also rise whenever USD drops.  Euros and GBP are ridiculously high now,  despite the pandemic and Brexit.  Not that Europe is performing well, but more because USA is performing much much worse.

5.  Now, SG Dollar sibei chum.

Anyone wants to add on?

You forget to add silver.. Silver also rise very fast.. Got hit $30 dollars lao hor.. Now dropped below 30.. But will very fast rise back up and even higher.. 

[Throttle2]

On 8/6/2020 at 8:53 PM, noobcarbuyer said:

Those who bought gold in 2011 just broke even.

Wahahahaha

And those who bought solid gold Rolex, doubled their money

Edited August 9, 2020 by Throttle2

[Yewheng]

This is worth of watch.. He predict that China will be taking over the reserve currency. 

[Throttle2]

33 minutes ago, Yewheng said:

This is worth of watch.. He predict that China will be taking over the reserve currency. 

Well its not unimaginable in the decades to come

[Yewheng]

17 minutes ago, Throttle2 said:

Well its not unimaginable in the decades to come

Interestingly I Google searched China gold reserve and singapore gold reserve.. The top result.. 

https://tradingeconomics.com/china/gold-reserves#:~:text=Gold Reserves in China averaged,the second quarter of 2000.

https://tradingeconomics.com/singapore/gold-reserves

 

China had been actively buying gold.. Where in Singapore it seems like we had neglected buying gold and hold the same amount of gold for past 10 yrs. Look at China gold reserve.. Now at record high..

 

And also in that YouTube video.. He mentioned.. China gold exchange.. A quick Google search.. 

http://www.marketswiki.com/wiki/Shanghai_Gold_Exchange#:~:text=Shanghai Gold Exchange (SGE) is,platinum and other precious metals.

 

So yeah.. China had been preparing for the usd currency crisis to be coming as it is unavoidable..

Edited August 9, 2020 by Yewheng

[Mustank]

Tiagong gold start to thng kor liao

[kobayashiGT]

50 minutes ago, Mustank said:

Tiagong gold start to thng kor liao

what is thng kor? hahah.

[Yewheng]

1 hour ago, Mustank said:

Tiagong gold start to thng kor liao

No la.. The drop is due to news of Russia say they developed covid-19 vaccine.. So it is temporarily.. The fundementals is still money printing the cause. So expect gold to go back up to 2k and more again.. 

[t0y0ta]

On 8/6/2020 at 8:53 PM, noobcarbuyer said:

Those who bought gold in 2011 just broke even.

I bought gold during the 1st fall in 2012.

Took 8 years to break even also.

For those we think gold will go up forever.... there is no forever for anything

[Mustank]

1 hour ago, kobayashiGT said:

what is thng kor? hahah.

Thng kor means take off trousers

Means bad news

[kobayashiGT]

2 hours ago, Mustank said:

Thng kor means take off trousers

Means bad news

Oh. pull down your pants! hahhaha.

In the past, i cannot afford gold. now also cannot afford gold. so nothing changes for me. 😂

[Mustank]

12 minutes ago, kobayashiGT said:

Oh. pull down your pants! hahhaha.

In the past, i cannot afford gold. now also cannot afford gold. so nothing changes for me. 😂

Don’t anyhow anyhow pull pants down ah

[kobayashiGT]

2 hours ago, Mustank said:

Don’t anyhow anyhow pull pants down ah

My fav activity leh. hahahha.

[Yewheng]

https://www.bloomberg.com/news/articles/2020-08-14/berkshire-adds-barrick-gold-exits-delta-air-lines-13f?utm_medium=social&utm_source=facebook&utm_campaign=socialflow-organic&cmpid=socialflow-facebook-business&utm_content=business

 

Warren buffet now also go into gold lao..