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Discuss issues related to business, finance, taxes, investments, cost of living in different countries, etc.
4 posts • Page 1 of 1
The metals price crash this last week only applies to paper(COMEX) gold and silver and not the real stuff. The ratio of paper traded gold to physical gold is about 100:1. Gold and silver are the only world currencies that are undervalued the other currencies are just paper with numbers printed on them.
Unprecedented Demand For Physical Gold And Silver
http://www.zerohedge.com/news/2013-04-2 ... and-silver
Chinese Gold Exchange Sold Out
http://www.zerohedge.com/news/2013-04-1 ... witzerland
US Mint Sells Record 63,500 oz. Of Gold In One Day
http://www.zerohedge.com/news/2013-04-1 ... ld-one-day
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Gold and silver are not currencies, they are commodities.
Also, the demand for them has been steadily going DOWN, hence the tattered state of gold mining stocks which have been in free fall for over a year.
I still believe in owning precious metals, but people need to know what they are and what they are not. If you feel the dollar will plummet in some years or there is an economic doomsday coming, you should stock up on some to preserve your wealth. But they are still at high levels and are likely to revert to the mean in due time.
That is not correct. Silver and gold are available to buy, Silver Eagles, Maple Leafs, etc. Premiums are higher but that is always the case when prices go down.