Value of Gold.

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Value of Gold.
Tweet Topic Started: Jan 24 2011, 11:41 AM (484 Views)
Coorsy101	Jan 24 2011, 11:41 AM Post #1
Senior Member Posts: 566 Group: Members Member #378 Joined: November 2, 2010	Would anyone happen to know the value of gold right now? Ive been looking into troy ounces of 24k gold, but im completely clueless as to the value so before makeing an investment in something like that i want to know what im dealing with.. Thanks!!! -Corey
	American Controllers: 12/19 (9/15 Boxed/Sealed) Systems: 1/9 (1/9 Boxed) Japanese Controllers: 7/18 (6/18 Boxed) Systems: 1/10 (1/10 Boxed)


Mk II	Jan 24 2011, 01:12 PM Post #2
Elite Posts: 4,493 Group: Staff (Ret.) Member #381 Joined: November 7, 2010	just saw an advert that said 1 gram of gold will get me 33 Euro... (about 45$?) but i bet you can get a better price than that. BUYER BEWARE! tread very carefully with any investment right now... gold prices are historically high now and will come down again once the economic dust settles. What goes up, must come down.



Coorsy101	Jan 24 2011, 02:42 PM Post #3
Senior Member Posts: 566 Group: Members Member #378 Joined: November 2, 2010	that doesnt make sense. 1 gram-45$. They have troy ounce (about 31 grams) 24k gold bullions for like 15 bucks on ebay.. Unless bullions are just gold plated.. like i said im not familiar with this kind of stuff. -Corey Edited by Coorsy101, Jan 24 2011, 02:43 PM.
	American Controllers: 12/19 (9/15 Boxed/Sealed) Systems: 1/9 (1/9 Boxed) Japanese Controllers: 7/18 (6/18 Boxed) Systems: 1/10 (1/10 Boxed)


Mk II	Jan 24 2011, 03:28 PM Post #4
Elite Posts: 4,493 Group: Staff (Ret.) Member #381 Joined: November 7, 2010	just checked the current official trade price online. 31.87 Euro per gram or 990.91 euro per troy ounce those are net prices as traded on the floor... consumer pay more and get less i would be VERY suspicious of 24K gold bars for 15 bucks. if its too good to be true, it usually isnt.



stinger9142	Jan 24 2011, 05:46 PM Post #5
Endure and survive... Posts: 6,726 Group: Admin Member #48 Joined: December 4, 2006	Buying Gold and Silver is a wise thing to do, at least if you are of the mindset that the economy may not recover. I tend to believe it will not. World economics fascinate me, and I have read a few books on the workings of the federal reserve. I believe the US is going to eventually go bankrupt. Our debt is too high, and our dollar is almost worthless. Some countries are starting to refuse our dollar as means of exchange. Gold and silver are two things that will always hold value regardless of what the dollar is worth. My dad has millions in assents, and got worried about a collapse. He wisely Invested in $80,000 in gold and $20,000 in silver. In times of economic collapse (great depression) gold and silver prices sky rocket. Our economic uncertainty is what has driven their prices so high to begin with. I have 8 ounces of silver put up. That is not much, but i am glad I at least have that. If we do recover though, then expect the price to fall back down to the $900-$1000 area it was at before our "recession" Last I knew of the price of gold per ounce was around $1400 I think. I will double check in a bit.



Mk II	Jan 25 2011, 01:08 PM Post #6
Elite Posts: 4,493 Group: Staff (Ret.) Member #381 Joined: November 7, 2010	Quote: the US is going to eventually go bankrupt no it won't. the economies of all nation states have gone global and this is a fundamental difference with historic events. The rest of the world can't afford the US to go under. and vice versa. For example: my Dutch pension fund has made lots of investments in the USA. So i actually have a vested interest there and so has the rest of the world. We're all in this boat together now.



stinger9142	Jan 25 2011, 06:24 PM Post #7
Endure and survive... Posts: 6,726 Group: Admin Member #48 Joined: December 4, 2006	My full sentence there was "I believe the US is going to eventually go bankrupt." I am not stating it like it is 100% fact or something, though I do firmly believe it will though unless drastic changes are made to our "borrow our way out of debt" strategy. Difference of opinion I suppose, believe what you want. I for one am against globalism feeling in undermines the supposed sovereignty of individual nations, including the united states. I despise the thought of other countries "owning" our debt, like China for instance. I also am opposed (as is the constitution of the united states) to privately owned banks producing and controlling our currency, which is exactly what the Federal Reserve is. Congress is supposed to do it. I believe this is the reason we are in this boat to begin with. Anyhow, political rant over Like I said, difference of opinion.



Mk II	Jan 26 2011, 08:55 AM Post #8
Elite Posts: 4,493 Group: Staff (Ret.) Member #381 Joined: November 7, 2010	Quote: I am not stating it like it is 100% fact or something of course... same goes for me, nobody knows what the future will bring. Quote: I for one am against globalism but that doesnt stop it from happening. we're already way past the point of no return Quote: the supposed sovereignty of individual nations you hit the nail right on the head: supposed. Perhaps in this age of multi- and supra-national corporations and a global 24 hour marketplace the nation state isn't as souvereign anymore.



stinger9142	Jan 26 2011, 05:28 PM Post #9
Endure and survive... Posts: 6,726 Group: Admin Member #48 Joined: December 4, 2006	You are absolutely right, there is no turning back. Call me old fashioned, but I would take sovereignty over a 24 hour global market place and multi national co-operations. Unfortunately the people with big $$$ prefer it the other way. Greed is an ugly animal.



Ganondorf	Feb 18 2011, 04:00 PM Post #10
Senior Member Posts: 604 Group: Senior Members Member #226 Joined: August 21, 2009	if im rich when i grow up i plan to have a big bar of gold, kind of like those blocks in the italian job
	Plato "wise men talk because they have something to say, fools talk because they have to say something"


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