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Gold demand falls 11pc


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#1    questionmark

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    Cinicus Magnus

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Posted 15 November 2012 - 03:04 PM

The Telegraph said:



Global gold demand in the three months to September was 1,084.6 tonnes, down from a record 1,223.5 tonnes in the third quarter of 2011. However, demand remained above the five-year quarterly average of 984.7 tonnes.


Gold buying hit a record in the 2011 period as investors sought a safe haven from an escalating eurozone crisis and steep rises in inflation. The metal is regarded by many investors as a hedge against rising prices and a safe haven during times of crisis.


In value terms, gold demand was 14pc lower on a year-on-year basis at $57.6bn (£36.4bn), with the average price of the metal down 3pc to $1,652 an ounce.

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good luck trying to get rid of it.

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#2    joc

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Posted 15 November 2012 - 03:26 PM

View Postquestionmark, on 15 November 2012 - 03:04 PM, said:

good luck trying to get rid of it.
I have always thought buying gold was stupid as an investment.   And when every other commercial on the radio (which is a very expensive way of advertizing) is someone telling you why you should buy gold...from them...you have to ask...why are they so anxious to sell their gold?  The reason...because they are trying to capitalize on an investment they made when the price of gold was low, low, low...and now they are selling...so why does it make sense to you or anyone else to buy gold at record high prices...it doesn't.
Yeah...suckers...good luck trying to get rid of it.   Besides that...if the economy collapses...what is your gold portfolio worth?  ZERO unless you actually have the gold IN YOUR POSSESION...which most investors do not...where is their gold?  God only knows...and god only knows if it is really gold at all....all you have in reality is a piece of paper saying you have gold and it is being held in x location.  What are you going to do...go to x location and get it?  Good luck with that as well.

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#3    EllJay

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Posted 15 November 2012 - 03:46 PM

View Postquestionmark, on 15 November 2012 - 03:04 PM, said:

good luck trying to get rid of it.

Anyone know what happened to the diamond market since Russia made it public that they had a diamond deposit in a 62-mile wide asteroid crater, with around trillions of carat?

Quote


Russia is about to start tapping into a huge source of diamonds that could supply the world market for the next 3,000 years.
Scientists estimate there are ‘trillions of carats’ lying beneath a 35million-year-old asteroid crater in Siberia – more than ten times the global stockpile.
The Kremlin has known about the reserves under the 62-mile-wide impact zone since the 1970s.
But it has kept it a secret until now because it was already reaping big profits in what back then was a heavily controlled market.



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#4    aztek

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Posted 15 November 2012 - 03:53 PM

View Postjoc, on 15 November 2012 - 03:26 PM, said:

all you have in reality is a piece of paper saying you have gold and it is being held in x location.  What are you going to do...go to x location and get it?  Good luck with that as well.

everyone has that, it' s called american dollar.

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#5    Ashotep

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Posted 15 November 2012 - 03:54 PM

If the economy collapses the only thing that will be worth anything is food or oil.  People will take that food for oil before they will that gold which you won't have in your possession anyway.


#6    Orcseeker

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Posted 15 November 2012 - 03:58 PM

When it comes down to it, gold is more useful than paper money at least.


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Posted 15 November 2012 - 04:11 PM

View PostOrcseeker, on 15 November 2012 - 03:58 PM, said:

When it comes down to it, gold is more useful than paper money at least.

Yeh, can be used to clobber somebody 'cause it is heavier. It also could make a novel paperweight, or a malleable hammer or...

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#8    questionmark

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Posted 15 November 2012 - 08:05 PM

View PostEllJay, on 15 November 2012 - 03:46 PM, said:

Anyone know what happened to the diamond market since Russia made it public that they had a diamond deposit in a 62-mile wide asteroid crater, with around trillions of carat?

Nothing much because the exclusive world wide trading rights are still in the hands of deBeers, and they have the say what reaches the market and what not. The fact that there are lots of diamonds somewhere does not mean that they will ever be sold.

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#9    EllJay

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Posted 15 November 2012 - 08:16 PM

View Postquestionmark, on 15 November 2012 - 08:05 PM, said:

Nothing much because the exclusive world wide trading rights are still in the hands of deBeers, and they have the say what reaches the market and what not. The fact that there are lots of diamonds somewhere does not mean that they will ever be sold.

Well, they dont `own´the market per se, they just manipulate it. If the Russians really wanted they could crush the market with their deposit.
"– more than ten times the global stockpile."

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#10    questionmark

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Posted 15 November 2012 - 08:31 PM

View PostEllJay, on 15 November 2012 - 08:16 PM, said:

Well, they dont `own´the market per se, they just manipulate it. If the Russians really wanted they could crush the market with their deposit.
"– more than ten times the global stockpile."

And they would benefit from that by...?

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#11    EllJay

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Posted 15 November 2012 - 08:40 PM

View Postquestionmark, on 15 November 2012 - 08:31 PM, said:

And they would benefit from that by...?
In the same way DeBeers have done, they would `own`the market, or at least push DeBeers down a few notches

"Opinions are like a**holes, everyone seems to have one" - Dirty Harry

"All those who believe in psychokinesis, raise my hand... "

"I have a black belt in Feng Shui, the subtle martial art. I go home to you and move a lamp and a chair... twelve years later you lay there on the floor with broken kneecaps and destitute."

#12    questionmark

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Posted 15 November 2012 - 08:44 PM

View PostEllJay, on 15 November 2012 - 08:40 PM, said:

In the same way DeBeers have done, they would `own`the market, or at least push DeBeers down a few notches

They would crash the market because deBeers still sits on a warehouse full of "revenge material", besides the fact that the Russians still have a contract with them for some time.

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The most dangerous views of the world are from those who have never seen it. ~ Alexander v. Humboldt
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#13    EllJay

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Posted 15 November 2012 - 08:52 PM

View Postquestionmark, on 15 November 2012 - 08:44 PM, said:

They would crash the market because deBeers still sits on a warehouse full of "revenge material", besides the fact that the Russians still have a contract with them for some time.

I think that the Russians hinted back in 2000/2006 when DeBeers changed their "tune", that they was sitting on this deposit and suggested DeBeers play nice.

http://en.wikipedia....iamond_monopoly

"Opinions are like a**holes, everyone seems to have one" - Dirty Harry

"All those who believe in psychokinesis, raise my hand... "

"I have a black belt in Feng Shui, the subtle martial art. I go home to you and move a lamp and a chair... twelve years later you lay there on the floor with broken kneecaps and destitute."

#14    joc

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Posted 15 November 2012 - 10:10 PM

Quote

Quote

Posted Imagejoc, on 15 November 2012 - 03:26 PM, said:

all you have in reality is a piece of paper saying you have gold and it is being held in x location.  What are you going to do...go to x location and get it?  Good luck with that as well.
That was..uh...kinda my point!  When the World Economy crashes...and it will...sooner than later...the dollar will be worthless...and pieces of paper that say you own gold will be worthless as well....and yet, you have all of these brainiacs that think they are protected because they have gold.  Wrong!





everyone has that, it' s called american dollar.


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#15    Bavarian Raven

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Posted 16 November 2012 - 12:42 AM

Well the nice thing about gold is (Actual gold) that even if there was a world wide disaster that threw us into a pseudo-medieval state (extremely unlikely), gold would still be worth something as a trade item. :yes:





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