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Originally Posted by woj
the way you phrase your comments about gold make it sound like gold is a good investment
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I never said that. In fact, Gold is the *worst* investment on earth and it has no yield. Gold is money, pure and simple. What you keep in your bank is a financial deposit and what you keep in your wallet is currency. Anyone who thinks otherwise, doesn't understand counter party risk.
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"This is going to be HUGE news globally"...
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It probably will have some global impact because so many people think of their national currency as money. Actions like this from central banks alert people to the fact that their fiat currency can be pulled at any moment.
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barely mentioned in mainstream media and the brief spike on global exchanges
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That's why it was timed just before the US election. They knew the election would steal headlines but sure this is just one country.
As for the spike, it was a brief spike on global exchanges. However in India it was a $1000 USD spike as the price went from around $1300 to around $2300 for a brief period. That is pretty much record territory so I think the word "spike", in those terms, is quite an understatement.
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and then 2 days later, gold is actually down few percent... how is that possible? maybe it wasn't that "HUGE news" after all?
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Prices on global exchanges are set by the paper market, not the physical market and you're proving that you have absolutely no idea about how markets work.
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so it was a pretty weak tip, anyone taking advantage of it would have lost $$$
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Show me where I gave people a tip to buy gold in this thread?
Dude, you're a complete amateur, go back to your coding desk...