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SilverBouillon
14-04-2013, 01:00 PM
The price of gold seems going down surely. I'm guessing if it's seasonal or it's the beginning of price declining.
From jewelry making perspective, I think it may be beneficial making precious jewelry affordable to make and affordable to customers to buy. I may be wrong since I've never thought about precious metal stock market from jeweler's perspective.
So, fellow jewelers, what do you think?

pearlescence
14-04-2013, 05:39 PM
If it is, then that is a great indicator that the world economic depression is lifting.
(because people are turning their money around and not putting it into gold)

ps_bond
14-04-2013, 06:42 PM
I'm not convinced it is as big a deal as the media would like to make it out to be. Look at the longer-term trends.

I'm minded of the reporting that's gone on over house prices - where the numbers are fudged so that rates of change are reported (and changes in the rates) rather than absolute change.

alexyarm
15-04-2013, 09:27 AM
Gold is a hard one to predict, there are some many powerful economic and political forces pushing it about beyond the jewellery market. I had a chat with a few people about it at the Tucson show, including a Mexican gold mine owner. The consensus opinion was gold price flat or down through 2013. I've taken a bet that it will remain below $2000 anyway.

Personally I think this is good for the jewellery trade - commodity price is going down while consumers are used to paying high final prices.

SilverBouillon
15-04-2013, 12:22 PM
Gold is a hard one to predict, there are some many powerful economic and political forces pushing it about beyond the jewellery market.
I agree. It's impossible to predict even for insiders (if would, lots of people would be rich, not only a little selection :)).
As for jewelry making, it should be good in general if gold and other precious metals can down in price. But the industry, I believe, will turn slow following the new pricing because following the price immediately cut means loses on already purchase physical stock.

I think that price for 2013 will be lower for every same month of 2012, but not much. But I'm not an expert, just guessing.
I'm trying to figure out how to buy silver, which pretty much follow the gold pattern with minimal loses on the long run. Or to buy just a little when needed.

metalsmith
19-12-2013, 08:40 PM
I know that folk can purchase gold and get it delivered via bullionvault.com, but since I think you need to own a bar (not cheap) then I don't think it is any competition for Cookson.

I'm recommending you view the chart on their website so that you can see changes up to the minute, hour, day, week, month etc up to 20 years. The big trends and the small. If anyone has any great insight into where prices are going next, rsvp! Thanks

ps_bond
19-12-2013, 09:34 PM
You can buy, hold and sell fractional amounts, but as soon as you withdraw a full bar you're liable for VAT on it.

metalsmith
22-12-2013, 08:21 AM
+10% transport and insurance.

However, it's a good resource for keeping up with the numbers and watching the trends on different scales. I always seem to be able to get the timing almost right - I buy when it dips, but (so far) it has always gone down again - even further - afterwards #-o

ps_bond
22-12-2013, 09:03 AM
Both halves of that equation are preferable :)
I tend to look at it as less of an investment and more as a raw material that I'll process into something more valuable.

metalsmith
22-12-2013, 09:22 AM
Both halves of that equation are preferable :)
I tend to look at it as less of an investment and more as a raw material that I'll process into something more valuable.

:"> Sorry -- that's what I mean - I buy the raw materials - but doing this at the right time helps keep costs down, which is good when you're relatively new to this game and have a relatively high proportion of decent materials (usually wire) into silver-scrap-balls :N:

rhinofingerskins
14-11-2014, 09:14 PM
I think part of it is the decline in the price of oil. We are finally drilling again here in the USA and are again a top producer of oil depending who you believe? As others have said there are many other forces on the price of Gold but it does always seem to be linked to oil going up or down.

The economy here is still really tough for most people. The folks at the top 20-30% are doing fine as usual. My market for handmade culinary knives is the top 50% which of only about 1-2% will buy a custom knife. Affordability of materials is important for you Jewelry makers.

www.rhinofingerskins.com
www.rhinoknives.com

metalsmith
19-12-2014, 07:47 PM
As others have said there are many other forces on the price of Gold but it does always seem to be linked to oil going up or down.
www.rhinoknives.com

I'm quite interested in the economics ... a few interesting things google threw up on the subject.

Of course these things can't be taken in isolation: fuel cost v the low grade of ore being one example, where the high cost of gold used to justify the energy expended in the search equating to a low grade being economic to mine. With falling values, gold is less mineable at the low grades, but falling oil price is propping that up for the moment. It appears that an interesting junction may be soon to arrive if the oil price decline reverses.

http://www.macrotrends.net/1335/dollar-gold-and-oil-chart-last-ten-years
http://www.marketoracle.co.uk/Article38141.html
http://srsroccoreport.com/gold-mining-industry-fuel-costs-explode-in-a-decade/gold-mining-industry-fuel-costs-explode-in-a-decade/

metalsmith
27-12-2014, 06:09 PM
Yeow, I just got stung by the horrendous £-$ ratio: what's happened there? The £-$ is at near 2 year lows. Other currencies are at around 5. I didn't find much on tinter web to give any clues; does anyone know? Why is the £ tanking?

https://www.bullionvault.com/gold-news/dollar-gold-121220141

metalsmith
24-01-2015, 09:21 PM
Talk amongst those that (talk as if they) know is that the gold bounce is approaching a decisive moment - if it continues to rally it will be a return to bull, otherwise it is one more dead-cat bounce in the second biggest bear in 70 years apparently. Stocking up time perhaps.

josef1
24-01-2015, 09:49 PM
Im lost do I need to stock up on bulls or dead cats ?

Wallace
24-01-2015, 09:54 PM
bears, definitely bears, oh wait.. ;)

metalsmith
25-01-2015, 07:16 AM
Im lost do I need to stock up on bulls or dead cats ?
Looks like you're ahead of the curve already ...

did you get a head start by any chance? :-D

http://www.manchestereveningnews.co.uk/news/greater-manchester-news/bin-bag-containing-severed-cats-7626419

(hope that's taken with the humour it is sent with - no offence intended!)

josef1
25-01-2015, 05:47 PM
Made me smile :)

metalsmith
21-03-2015, 09:06 AM
Latest instalment of this unending saga
http://moneyweek.com/spread-betting/gold-is-starting-its-big-rally/
If you believe such chartist stuff

handmadeblanks
05-08-2017, 02:59 PM
Too bad this is an old thread because I invest in physical gold and have been following the price action for many years.

A brief outline: As you may or may not know, gold was once the world’s money. However, the last link to any form of gold standard was broken when President Nixon ended the convertibility of $US into gold in 1971 (The Nixon shock) thus ending the Bretton Woods system. Since then the world has been on a completely fiat monetary system with the $US maintaining its place as the reserve currency. Even though the world is on a fiat standard the price of gold still has a very close relationship to the money supply, especially the $US, as all commodities are priced in $US.

Since the GFC in 2008 the worlds Central Banks have literally been flooding the world with newly created money via their low interest rate policies and Q.E. in an effort to avoid their greatest nemeses – deflation (I say “their” because as consumers we enjoy falling prices.)

The $US officially ended it’s loose monetary policy in December 2015 when it hiked interest rates for the first time since 2006. This seems to have also marked the bottom of the gold bear market. The theory is that we are now entering an inflationary period and gold performs well in that environment.

I personally think we are now in a new bull market and should see prices rise about 7% p.a for at least the next decade, with a possible bubble taking it close to $5000 t.oz sometime in that period.

CJ57
05-08-2017, 06:27 PM
So does that mean we should be buying up gold with our savings because they sure as hell aren't doing anything in the bank?

handmadeblanks
05-08-2017, 06:44 PM
So does that mean we should be buying up gold with our savings because they sure as hell aren't doing anything in the bank?

I am buying physical silver and gold as I can afford it. If you live in the UK and want to buy gold as an investment then buy legal tender BULLION (Not proof or Numismatics) coins like the Britannia or sovereign. The reason being gains on legal tender coins are free from capital gains tax. The goldbugs have been saying for years that "NOW" is the time to buy gold, but from all of my reasearch on the subject, now really is the time. I think once the price breaks above US$1400/t.oz it will quickly ascend to over $US1600/t.oz.

MY opinion is that the next 10 years will be similair to the inflationary period of the 1970's when the price of gold rose 23 fold. Remember, this is only my opinion and you should do your own research, but I am buying gold and silver with both hands.

Regards

CJ57
05-08-2017, 08:33 PM
Thanks, we'll look into it

handmadeblanks
29-08-2017, 12:11 PM
Gold closed @$US1315.5 yesterday which is above the very critical resistance level of US$1300. The next critical level is $US1400. If it closes above that before the end of September 2017, then it is clear sailing all the way up to $US1600 at least! Pay close attention to the next FOMC meeting in September. (http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm) IMO: The outcome of that meeting will dictate how gold performs for the rest of 2017. I'm very bullish on gold and silver.

handmadeblanks
26-01-2018, 08:20 AM
Gold closed @$US1315.5 yesterday which is above the very critical resistance level of US$1300. The next critical level is $US1400. If it closes above that before the end of September 2017, then it is clear sailing all the way up to $US1600 at least! Pay close attention to the next FOMC meeting in September. (http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm) IMO: The outcome of that meeting will dictate how gold performs for the rest of 2017. I'm very bullish on gold and silver.

It has been a long, slow grind upwards, but gold closed the year (2017) above US$1300. This current 'stealth' bull market in gold actually began around January 2016. It is currently trading above US$1355 and looking very strong. IMHO It won't be long before it breaks above US$1400.

ps_bond
26-01-2018, 08:26 AM
Recent emails from BullionVault are suggesting that Pt should be the next big thing.