Gold is crashing

  • Thread starter Thread starter Kirsten Minnaar
  • Start date Start date
Mike Hoxbig said:
Because gold has the same supply as rocks...
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What real value does gold have? I mean it's the same as cash, the cash is a replacement for bartering. It's an iou basically, it's like this R10 note has the same value as an egg type thing.
Without the social construct of gold or cash what real value is there? You may as well just use bottle caps
 
Lupus said:
What real value does gold have? I mean it's the same as cash, the cash is a replacement for bartering. It's an iou basically, it's like this R10 note has the same value as an egg type thing.
Without the social construct of gold or cash what real value is there? You may as well just use bottle caps
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No.
 
Velskoen said:
I'm a hoarder, not a fighter. Besides, I don't need it now.

Don't share owners sit on their shares sometimes.
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Sure, so do gamblers sit at the slot machine cause it'll pay out
 
Velskoen said:
And gold.
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No real value, can't eat it, can't drink it, can't wear it, I mean you can build with it i guess.
But in reality it's shiny metal, we are like magpies
 
HermeticAnarchist said:
Crypto will survive doomsday how?
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Have I mentioned crypto? No, same scenario.
This is of course when society has collapsed like walking dead or fallout style.
If currency collapses than it will probably be a good thing to have invested
 
Lupus said:
For what real value? Oh look I've got a ton of gold, but my next door neighbors have water and food. Let me go give them my gold for it.
Gold is a social construct of value
www.investopedia.com

Why Has Gold Always Been Valuable?

Gold has an allure and a high price tag, but some would say it has no real intrinsic value. So why do we consider gold to be so precious?
www.investopedia.com www.investopedia.com
In reality it's about as valuable as an iPhone 15 without power and cell towers
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You are assuming nobody wants it. And while it's true there are not a lot of smart people in the world, there are enough to sustain its value.
 
Iwojima said:
Sorry, but where?

I agree its not the best place to put money for growth, but over time it hasnt "fallen to pieces at any point"

View attachment 1774282
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you can't overlay a graph in Rands to skew the results, the ZAR has spiked many many times, it's one of the most volatile currencies in the world. Use the normal USD as the spot price per ounce and you get a completely different result.

It most certainly has crashed many many many times.

1980 it crashed 53%
1996 it crashed 36%
2013 it crashed 30%
2018 it crashed 12%
2021 it crashed 10%

Gold over the looooong term of 50 years is around 8% max give or take...
 
Wrath of Khan MD said:
you can't overlay a graph in Rands to skew the results, the ZAR has spiked many many times, it's one of the most volatile currencies in the world. Use the normal USD as the spot price per ounce and you get a completely different result.

It most certainly has crashed many many many times.

1980 it crashed 53%
1996 it crashed 36%
2013 it crashed 30%
2018 it crashed 12%
2021 it crashed 10%

Gold over the looooong term of 50 years is around 8% max give or take...
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I'm sorry, but 10-12% is not what I'd call a crash, and certainly not ones worth mentioning when you consider by the end of 2018 and 2021 both had recovered and were up past their pre "crash" levels.
 
As an example, if you were a poor sucker who invested heavily in gold in January 1980, you would only have broken even in April of 2006... it took 26 years of nothing, remember no dividends no nothing...

Then poor bugger number two sold his wife for gold in August 2011, it would have taken him until July 2020 to break even.
 
Wrath of Khan MD said:
As an example, if you were a poor sucker who invested heavily in gold in January 1980, you would only have broken even in April of 2006... it took 26 years of nothing, remember no dividends no nothing...

Then poor bugger number two sold his wife for gold in August 2011, it would have taken him until July 2020 to break even.
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Where are you getting these figures from?

In 2011 gold started the year @ <R10k/oz and ended the year closer to R13.5k/oz

1731765871959.png
 
Iwojima said:
Where are you getting these figures from?

iN 2011 gold started the year @ <R10k/oz and ended the year closer to R13.5k/oz
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USD

stop using a volatile currency that spikes every second day, that skews every result

GOLD is valued in $/ounce
 
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