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Glyn G
Membre depuis mai 2012
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Is Gold a Disappointing "Safe Haven"?

- Julian D. W. Phillips - Gold Forecaster

Re: "What must concern the central banks, which all consider gold as an important reserve asset, is the fact that institutional investors can play around with the gold price like this. It is in their interests to ensure that controls are placed on the buying and selling of gold so that private markets dont play havoc with the gold price this way."

Interesting portrayal of Central banks as lofty noble institutions with a focus on maintaining the stability of markets. Meanwhile the out-of-control rapscallion institutional investors manipulate and speculate and add all kinds of shenanigans and tomfoolery to the fray...the rascals! Poor beleaguered central banks.

Is it not more likely that the central banks have seen the writing on the wall? Having tried to kill gold and dismiss its relevance they are now realising they have lost that battle and are buying it back as fast as they can. Is it not more likely then that they are in full collusion with their attack dogs the investment banks...one side profits from shorting...the other from cheap gold...everyone's a winner! Except the losers who as you point out were short term speculators who set themselves up to be fleeced.

Note that Germany demanded its gold back from the Bank of England recently only to be told it would take ten years or so. So presumably the BoE have mislaid it somewhere (?!) and now need to buy it back...a LOT of it...slowly and stealthily without any pesky spikes in the gold price. (As you point out, even at current prices they are paying 4-5 times what Gordon Brown sold it for. Sold low...buying high! And they're in charge of our financial welfare?!!!) So the idea that Central banks are upset by this manipulated raid on the gold price? I don't buy it. I do buy more gold though!

Commenté il y a 4157 jours

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Début de l'article :What is a "Safe-Haven"? It should be defined as a long-term investment that holds its value internationally, in extreme financial times. Is gold one of these? After all, it has fallen from $1,921 at its peak to $1,344 at its trough. This is a 30% fall over the last year plus. At one time George Soros described gold as the ?Ultimate Safe-Haven?, before saying it was a ?disappointing Safe-Haven?. Alan Greenspan described gold as being ?money in extremis.?The SPDR gold ETFIn the ?Bear Raid? we have... Lire la suite

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