The real question: do either of these guys, spastic gramps or headiez247 even grow?
The real question: do either of these guys, spastic gramps or headiez247 even grow?
I don't really see that. I don't think he's laughing too much lately considering his mounting losses.the OP's made a mockery of you all arguing the same shit one more time.......
Yeah that.You may be getting nominal yields, but given the rate of currency depreciation you are getting poorer.
If it was 5 years ago, sure. But to buy actual gold right now is pretty dumb considering how inflated it is.
So central banks increased buying PHYSICAL gold 400% over the last quarter at these prices. Somehow I doubt they are the dummies.LONDON (Dow Jones)--Central banks are topping up their gold reserves, quadrupling their total purchases from the market in the last quarter as they seek to reduce their dependence on traditional reserve currencies such as the U.S. dollar.
Even with gold prices at record highs, emerging markets' central banks have revived the official sector's gold-buying interest. They are diversifying their foreign exchange reserves, which have grown along with their export industries. More recently, they've also bought gold in reaction to the persistent sovereign-debt crises affecting traditional reserve currencies, like the dollar and the euro. Analysts say this trend is likely to continue.
"We expect to see additional demand support from official-sector purchases as numerous influential countries are becoming bearish on the status of the U.S. dollar as a reserve currency," said analysts at Swiss bank Credit Suisse.
Central banks bought 69.4 metric tons of gold in the second quarter, more than four times the 14.1 tons reported a year earlier, the World Gold Council said Thursday.
During the first half of the year, central bank gold purchases totaled 192.3 tons, more than 2 1/2 times the 72.9 tons bought in the first six months of 2010, the council said.
Prior to 2009, however, central banks had been net sellers of gold bullion for around two decades. Analysts say the metal was viewed as an antiquated investment and, given the metal's low value during the 1990s to early 2000s, officials opted to lighten their holdings, largely in favor of fiat currency.
The demand growth from the official sector--which includes central banks and other institutions like the Bank for International Settlements--is luring other investors back into gold. Buying by official institutions makes it a more attractive asset, as it's seen as a sound alternative store of value.
Gold prices rallied to a fresh record high of $1,826.61 an ounce in the spot market Thursday, as equity markets and other risk assets continued to tumble on deepening concerns over the health of the U.S. and euro-zone economies.
Gold is widely viewed as a safe-haven asset in times of economic uncertainty.
My loss I guess lol.
The truth is, Americans are the most resilient people on earth.