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That essentially means that, as more people buy gold, the price goes up, in line with demand. Read more: What Moves Gold Prices? | Investopedia www.investopedia.com... Follow us: Investopedia on Facebook
Unlike oil or coffee, however, gold isn't consumed. Almost all the gold ever mined is still around. There is some industrial use for gold, but that hasn't increased demand as much as jewelry or investment. Read more: What Moves Gold Prices? | Investopedia www.investopedia.com... Follow us: Investopedia on Facebook
Hug says the big market movers are often central banks. In times when foreign exchange reserves are large, and the economy is humming along, a central bank will actually want to reduce the amount of gold it holds. That's because the gold is a dead asset – unlike bonds, or even money in a deposit account, it generates no return. Read more: What Moves Gold Prices? | Investopedia www.investopedia.com... Follow us: Investopedia on Facebook
Gold moved to floating exchange rates after 1971. This made its price vulnerable to the U.S. dollar’s external value. In 2008, the International Monetary Fund (or IMF) estimated that 40–50% of the moves in the gold prices since 2002 were dollar-related. A 1% change in the effective external value of the U.S. dollar led to more than a 1% change in gold prices.
As the above chart shows, there’s an inverse relationship between the trade-weighted U.S. dollar and the price of gold. Trade-weighted value shows how the U.S. dollar is gaining or losing purchasing power—compared to its trading partners. However, this inverse relationship isn’t as precise as it used to be under the gold standard. Even though the gold standard is gone, there’s still a psychological tilt towards gold whenever the value of the U.S. dollar decreases. The inverse relationship remains because:
originally posted by: toysforadults
a reply to: Gothmog
www.moonlightmint.com...
Yup, progressive hero FDR 10 years after the 1913 Federal Reserve act
Many histories position the crucial historical development of a banking system to medieval and Renaissance Italy and particularly the affluent cities of Florence, Venice and Genoa. The Bardi and Peruzzi Families dominated banking in 14th century Florence, establishing branches in many other parts of Europe.[1] The most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397.[2] The oldest bank still in existence is Banca Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.[3]
The age that man later called the Age of Kronos (Saturn) was remembered with nostalgia as an age of bliss. References to the Age of Kronos in the ancient lore are very numerous.(1)
originally posted by: anonentity
a reply to: Winterpain
Which means that the face value of gold should go up by four times. The reasoning being that if four people paid a million dollars each, which is four million, for one million dollars worth of gold, then the price will move accordingly because supply cant make demand.
originally posted by: Gothmog
Does anyone know or remember , it is still illegal in the US to own precious metals ?
It was signed into law during WW 2 and never rescinded
originally posted by: dragonridr
originally posted by: Gothmog
Does anyone know or remember , it is still illegal in the US to own precious metals ?
It was signed into law during WW 2 and never rescinded
Yes it was by Gerald Ford in 1977. You can legally buy and sell gold in fact if you want some from the US mint you cant buy it here.
catalog.usmint.gov...
originally posted by: Gothmog
originally posted by: dragonridr
originally posted by: Gothmog
Does anyone know or remember , it is still illegal in the US to own precious metals ?
It was signed into law during WW 2 and never rescinded
Yes it was by Gerald Ford in 1977. You can legally buy and sell gold in fact if you want some from the US mint you cant buy it here.
catalog.usmint.gov...
Yes , you can legally buy and sell gold. That wasnt even the case in point. It was legal to trade back then. Until they confiscated them. (They being the US Federal Government . I will not take time to explain what the US Federal Government is)
Precious metals are still technically illegal to own in the US .
The US government COULD confiscate the precious metals today.
At least stay on point.