The sudden love for gold?

TanG411

Does anybody else notice the amount of ads that are around for selling gold? On television, newspapers etc. Even in Merchant's Quay shopping centre in Cork City they have a little booth set up for customers to sell gold.

So does anybody know why there's sudden love for gold? Are gold prices gonna go up?

Latchy

With lack of cash around , Gold is the currency for now .All those little bits lying around the house might get a you a few bob in your local pawn shop .

minidazzler

The price of Gold rose quite a bit recently IIRC.

Peyton Manning

WONGA!

banshee_bones

People are broke, some people are in a bad way and need cash and pawn shops arent exactly prevalent in Ireland so I guess this is as close as we could get.

ashyle

tis a recession lad. people want money. plus the value of gold has gone up i believe.

Fremen

The stock market's massively unstable at the moment, and investors are worried that inflation will eat up all the value in bonds. Gold is seen as something which won't lose its value in times of financial trouble, so everyone started buying it. That's what sent the price up, so people are trying to buy it at reduced rates, melt it down and sell it on.

orestes

Gold is seen as a steady commodity and is highly unlikely to ever crash and become worthless so in times of financial trouble it's a good thing to switch your business and cash into I think, or something along those lines anyway

994

Also, many companies are ripping off old people by selling gold over the phone for far more than it's worth.

brummytom

"Send us your Gold and we'll send you a cheque!"

theiving scumb

Neamhshuntasach

Silver is where it's at. Gold is a luxury item whereas silver is used in the more essential items.

brummytom

brummytom wrote: »

"Send us your Gold and we'll send you a cheque!"

theiving scumb

Well if you're thick enough to believe that ad, then you deserve to be fleeced.

Then after that you could go 'slip' in a mcdonalds and ring injury-lawyers-4-u.

Gummy Panda

Its all down to..

Goldfinger!

He's the man, the man with the Midas touch
A spider's touch
Such a cold finger
Beckons you to enter his web of sin
But don't go in

Golden words he will pour in your ear
But his lies can't disguise what you fear
For a golden girl knows when he's kissed her
It's the kiss of death ...

From Mister Goldfinger
Pretty girl, beware of his heart of gold
This heart is cold

Golden words he will pour in your ear
But his lies can't disguise what you fear
For a golden girl knows when he's kissed her
It's the kiss of death ...

From Mister Goldfinger
Pretty girl, beware of his heart of gold
This heart is cold
He loves only gold
Only gold
He loves gold
He loves only gold
Only gold
He loves gold

hblock21

Larkin501 wrote: »

Does anybody else notice the amount of ads that are around for selling gold? On television, newspapers etc. Even in Merchant's Quay shopping centre in Cork City they have a little booth set up for customers to sell gold.

So does anybody know why there's sudden love for gold? Are gold prices gonna go up?

Yes I've noticed this. In the past few days I seen three different adverts on tv for the stuff.

Rented Mule

We saw this alot in the late 70s with silver when the Hunt Brothers were trying to corner the market. It is just another cyclical phenomena that happens whenever the price goes through the roof (mostly during extended recesssions)

SoupyNorman

Supply low + High demand = high price.

FutureTaoiseach

It's a traditional "safehaven" investment during stock-market turmoil.

sells

gold is a safe form of currency, and in recessions like this or whenever things f*uck up, people want to invest in gold to feel safe, not notes made of paper. Also if a "mad max " like scenario happens, gold would be the currency for everything.

Sarky

Spray paint a block of wood, draw a swastika on it, and bring it in to them wearing an eyepatch and trenchcoat asking for a quote in a funny accent.

SoupyNorman

sells wrote: »

Also if a "mad max " like scenario happens, gold would be the currency for everything.

Or, if we found ourselves in a 'WaterWorld' scenario then Chits and Dirt would become the currency for everything.

Nate--IRL--

As usual with most investments, if you get your ordinary Joe Soap telling you about it, and offering his expertise - stay the f*ck away from it.

Nate

My name is URL

Why do you think gypsies get gold teeth implanted..

shrewd shrewd fcukers :pac:

sells

yes I suppose it would Soupy, how I was wrong.

anonymous_joe

Neamhshuntasach wrote: »

Silver is where it's at. Gold is a luxury item whereas silver is used in the more essential items.

Totally the other way around.

Gold's got really high conductivity, which means it's worth a fortune in loads of industries, married to its intrinsic value that makes it far more valuable than most.

AARRRGH

When stockmarkets are doing well, gold prices are low. When stockmarkets are doing badly, gold prices are high. That's the way it always is. So buy gold in the middle of the next bubble.

I love this advert. His voice is total hypnotic:

https://www.youtube.com/watch?v=0oM1BOFpF0I

Overheal

Larkin501 wrote: »

Does anybody else notice the amount of ads that are around for selling gold? On television, newspapers etc. Even in Merchant's Quay shopping centre in Cork City they have a little booth set up for customers to sell gold.

So does anybody know why there's sudden love for gold? Are gold prices gonna go up?

Its a Recessionary mindset. Gold does not lose value and more or less its considered a good way to preserve your wealth. Though youd need to verify that. Im not sure anymore. The Gold Standard was Sooooo Last Century.

But the Cash4Gold type companies, and companies who offer to sell you gold, make a tidy profit by marking up your price for the gold with service and processing fees. You'd be as well off - im told (again, dont do this **** based on my fickle post) - to buy shares in one of these mutual funds/companies that specifically deals with gold, without actually owning the gold yourself.

Cash4Gold itself though, is another story - they buy your gold from you at about 20% of what its actually worth, and then flip it. Its rather scamtacular and at the same time, legal, the way its done. They might only be US based. But heres a great article about the ****ers if you have 15 minutes: http://consumerist.com/5349663/the-article-cash4gold-doesnt-want-you-to-read?skyline=true&s=i

Long Story Short: These companies make profits by providing a service by peddling gold to people who are stricken with worry about financial uncertainty.

Sarn

Feck that, the gold boat has shipped, palladium and platinum for the win.

My name is URL

AARRRGH wrote: »

When stockmarkets are doing well, gold prices are low. When stockmarkets are doing badly, gold prices are high. That's the way it always is. So buy gold in the middle of the next bubble.

I love this advert. His voice is total hypnotic:

https://www.youtube.com/watch?v=0oM1BOFpF0I

Jesus, that's kind of troubling.

How many people are selling stuff that means alot to them just to get by.. =(

TPD

Gummy Panda wrote: »

Its all down to..

Goldfinger!

He's the man, the man with the Midas touch
A spider's touch
Such a cold finger
Beckons you to enter his web of sin
But don't go in

Golden words he will pour in your ear
But his lies can't disguise what you fear
For a golden girl knows when he's kissed her
It's the kiss of death ...

From Mister Goldfinger
Pretty girl, beware of his heart of gold
This heart is cold

Golden words he will pour in your ear
But his lies can't disguise what you fear
For a golden girl knows when he's kissed her
It's the kiss of death ...

From Mister Goldfinger
Pretty girl, beware of his heart of gold
This heart is cold
He loves only gold
Only gold
He loves gold
He loves only gold
Only gold
He loves gold

Can't read that without Steve Coogan's voice in my head :P

orestes

Sarn wrote: »

Feck that, the gold boat has shipped, palladium and platinum for the win.

Nah dude, tis all about the latinum, we just need the gold to press it in

Dufresne

Rented Mule wrote: »

We saw this alot in the late 70s with silver when the Hunt Brothers were trying to corner the market.

Don't remember this but I do seem to recall the Dukes trying to corner the market for Frozen Concentrated Orange Juice

Stark

Overheal wrote: »

Its a Recessionary mindset. Gold does not lose value and more or less its considered a good way to preserve your wealth. Though youd need to verify that. Im not sure anymore. The Gold Standard was Sooooo Last Century.

But the Cash4Gold type companies, and companies who offer to sell you gold, make a tidy profit by marking up your price for the gold with service and processing fees. You'd be as well off - im told (again, dont do this **** based on my fickle post) - to buy shares in one of these mutual funds/companies that specifically deals with gold, without actually owning the gold yourself.

Cash4Gold itself though, is another story - they buy your gold from you at about 20% of what its actually worth, and then flip it. Its rather scamtacular and at the same time, legal, the way its done. They might only be US based. But heres a great article about the ****ers if you have 15 minutes: http://consumerist.com/5349663/the-article-cash4gold-doesnt-want-you-to-read?skyline=true&s=i

Long Story Short: These companies make profits by providing a service by peddling gold to people who are stricken with worry about financial uncertainty.

Sounds like the next speculative bubble about to happen.

worded

Stark wrote: »

Sounds like the next speculative bubble about to happen.

Gold wont go to zero value though, it will always be worth something and a Krugerands quality is always the same, unlike a badly built apartment.

phantom_lord

Gold is the new bubble.

phantom_lord

worded wrote: »

Gold wont go to zero value though, it will always be worth something and a Krugerands quality is always the same, unlike a badly built apartment.

It is only an asset because people think it is an asset, it has very little redeeming qualities apart from that. It is incredibly pointless. In the long-term it's a useless asset.

starbelgrade

People used to laugh at gypsies & rappers with their gold teeth. Now they're the ones laughing all the way to the bank.

Scarinae

Even the US Government is getting in on it

Deus Ex Machina

The obvious point which has been been completely overlooked thus far is that gold is complete fukkin' cool

abouttobebanned

3 pages in and not a magnum to be found.

m5ex9oqjawdg2i

phantom_lord wrote: »

Gold is the new bubble.

New? This was always the case. It times of recession, commodoties were always invested in...

phantom_lord

yeah, should have said current.

worded

How high will gold go?

m5ex9oqjawdg2i

phantom_lord wrote: »

yeah, should have said current.

It will fluxuate, but I cannot see gold ever becomming worthless. What's happening now has happened in past depressions/recessions, to what extent I am unsure, but gold and the likes was always invested in.

phantom_lord

not becoming worthless doesn't mean much though.

molloyjazz

Yes gold is the next bubble about to burst... Invest in Tulips, there due a comeback by now?

m@cc@

https://www.youtube.com/watch?v=gSq8ZBdSxNU

Gold
always believe in your soul
you've got the power to know
you're indestructable
always believe in,because you are
Gold

karlog

Wow cash ma gold!!!

m5ex9oqjawdg2i

molloyjazz wrote: »

Yes gold is the next bubble about to burst... Invest in Tulips, there due a comeback by now?

Well the Dutch do fairly well selling them...

Wossack

disco stu: did you know disco record sales were up 400% for the year ending 1976? if these trends continue... ayyyyyyy

twinQuins

orestes wrote: »

Nah dude, tis all about the latinum, we just need the gold to press it in

Ah, you're keeping in mind the 102 Rule of Acquisition: Nature decays but latinum lasts forever.

Sonnenblumen

minidazzler wrote: »

The price of Gold rose quite a bit recently IIRC.

I'd say more to do with rise in poverty, unemployment, crime and trying whatever to make ends meet?