CanadianMalodu Posted October 7 Report Posted October 7 5 minutes ago, pandugadu999 said: asal gold valla use endi bro... Gold is a scare metal and was always used as reserve for value. Of all the metals, gold was considered precious. Early on, paper currency was always tied to GOLD, until Nixon's presidency united dollar from Gold. Appudu start ayyina dollar printing eeroju dhaka nadusthane undhi. Every time they print dollar, dollar looses it's intrinsic value. You make dollars, you will pay for that "inflation". Quote
baabaa Posted October 7 Report Posted October 7 12 minutes ago, CanadianMalodu said: Gold is a scare metal and was always used as reserve for value. Of all the metals, gold was considered precious. Early on, paper currency was always tied to GOLD, until Nixon's presidency united dollar from Gold. Appudu start ayyina dollar printing eeroju dhaka nadusthane undhi. Every time they print dollar, dollar looses it's intrinsic value. You make dollars, you will pay for that "inflation". Why is it considered precious? I went to an Egyptian Museum and even there pretty much all the fights 5000 years ago was for gold. Never understood why humans value it so much since ancient civilizations. I mean we dont use it everyday. We can live easily without it. There are lot of other metals which are more rare than gold but why gold is so much more important for humans. Quote
RULER Posted October 7 Report Posted October 7 22 minutes ago, pandugadu999 said: asal gold valla use endi bro... Primary use is jewelry bought in India , China and Middle East countries if currency has no value then gold will use for trade as it recognized universally by central banks Russia started war … US frozen 300 billion US dollar stored by Russia if China starts war on Taiwan ..they do same … even China have lot of us treasuries and us bonds… now countries like China, India buying gold with dollar in the way they reduce us dollar reserves .. Banks and hedge funds in USA … use for hedging purpose against inflation and bad economy… they don’t actually buy real gold .. they just trade paper gold in future contracts … but this mostly determines the gold price so if economy is good gold go down … if it bad ..it goes up … Quote
CanadianMalodu Posted October 7 Report Posted October 7 2 minutes ago, baabaa said: Why is it considered precious? I went to an Egyptian Museum and even there pretty much all the fights 5000 years ago was for gold. Never understood why humans value it so much since ancient civilizations. I mean we dont use it everyday. We can live easily without it. There are lot of other metals which are more rare than gold but why gold is so much more important for humans. "Scarcity" is what defines the preciousness as scarcity fuels and furthers demand. If food is scare in a place with abundance of gold, food replaces the gold in terms of "preciousness". What metals are you talking about? 2 Quote
RULER Posted October 7 Report Posted October 7 29 minutes ago, CanadianMalodu said: I wouldn't suggest buying anything related to Silver. Silver as reserve for value is overestimated, and has had a high volatility always. Gold is different, historically Gold held on. I'm always hawkish on Gold, so long as FIAT exists. Silver and gold have different reason for going up... Gold is purely on uncertainty, but silver is due to uncertainty and also industrial demand used in electronics ...Major pump of silver is due to new demand from technology companies ... Quote
CanadianMalodu Posted October 7 Report Posted October 7 15 minutes ago, RULER said: Silver and gold have different reason for going up... Gold is purely on uncertainty, but silver is due to uncertainty and also industrial demand used in electronics ...Major pump of silver is due to new demand from technology companies ... Gold is merely returning to its place; for far too long governments cheated public by selling them fake printed paper as currency, without any intrinsic value. Entire fractional banking and FIAT are the biggest heists ever pulled off. As for silver, I think people are using it aa hedge as it's cheaper than silver, but silver has always been a hit or miss due to volatility. The silver itself is more abundant than gold. Quote
halwafan Posted October 7 Report Posted October 7 what could be the future prediction, will it be coming back to previous levels ? Quote
Sam480 Posted October 7 Author Report Posted October 7 1 minute ago, halwafan said: what could be the future prediction, will it be coming back to previous levels ? In long term Gold and bitcoin will go up Quote
allbakara Posted October 7 Report Posted October 7 1 hour ago, Konebhar6 said: Buy gold and Silver funds .. They will hit new highs in 2025-2026. Robinhood lo emunnai bro, GLD and what else for gold and silver? Quote
RULER Posted October 7 Report Posted October 7 30 minutes ago, halwafan said: what could be the future prediction, will it be coming back to previous levels ? All Depends on Powell .... Interest Cut: -go up and No cut: - Pullback ... Interest hike: - go back to previous levels Quote
Konebhar6 Posted October 7 Report Posted October 7 32 minutes ago, allbakara said: Robinhood lo emunnai bro, GLD and what else for gold and silver? SLV, AG, PAAS for silver .. 1 Quote
baabaa Posted October 7 Report Posted October 7 1 hour ago, CanadianMalodu said: "Scarcity" is what defines the preciousness as scarcity fuels and furthers demand. If food is scare in a place with abundance of gold, food replaces the gold in terms of "preciousness". What metals are you talking about? https://share.google/aimode/wZGwdNw55ecVmRuW4 "Numerous metals are rarer than gold, particularly the six elements of the platinum group metals (PGMs)." Quote
CanadianMalodu Posted October 7 Report Posted October 7 39 minutes ago, baabaa said: https://share.google/aimode/wZGwdNw55ecVmRuW4 "Numerous metals are rarer than gold, particularly the six elements of the platinum group metals (PGMs)." The problem being, none of them have been widely used ever to hold the "value", unlike Gold to which currency was pegged till about 70s, and had even had historical use as a "precious metal" for holding value. This is only followed by silver. Quote
baabaa Posted October 7 Report Posted October 7 22 minutes ago, CanadianMalodu said: The problem being, none of them have been widely used ever to hold the "value", unlike Gold to which currency was pegged till about 70s, and had even had historical use as a "precious metal" for holding value. This is only followed by silver. Ade, why even a 5000 year old civilization was fighting over gold and not platinum. And even today humans/countries will go to war over gold. Civilizations, empires, technology changed but gold desire is still the same. I mean how did it originate and how/why it is continuing even now. Quote
CanadianMalodu Posted October 7 Report Posted October 7 59 minutes ago, baabaa said: Ade, why even a 5000 year old civilization was fighting over gold and not platinum. And even today humans/countries will go to war over gold. Civilizations, empires, technology changed but gold desire is still the same. I mean how did it originate and how/why it is continuing even now. Platinum was a very recent discovery in the historical context. Gold is associated with Gods in faiths/religions prdating Abrahamic faiths, be it Hinduism, Egyptian/Babylonian, Zoroastrianism, pre Christian European, and Natives in Americas (both North and South). So, the Royalty, Temples, Priests held Gold in large quantities, that's synonymous with projection of wealth and power for the masses. Later Abrahamic faiths such as Christianity and Islam followed the same path. It's to date associated with power and Wealth even when Fiat replaced it. So long as that projections stays that way, the desire to hold it will continue to exist Quote
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