Quote:
Originally Posted by slapass
I thought you were older. Gold was a bad investment for 20 years. Went down every year. Now that it has gone up for 10 doesn't really mean it is a good deal. It is cyclical so more then likely it is near a top and will start the painful drop again.
|
Yea, but that was before. What was going on 20 years ago is not relevant to what is going on today.
When countries and central banks are stocking up on it
still, you should wonder what they know that everyone else does not.
Quote:
|
Central banks scooped up more gold in 2012 than they have annually in nearly half a century.
|
Quote:
|
Central banks bought 534.6 metric tons of the precious metal last year ? the most since 1964.
|
Quote:
|
The world?s policy-making elites know this, which is why central banks bought more gold last year than at any time since 1964. Turkey bought 164 tonnes, Russia bought 75 tonnes. Brazil, Korea, the Philippines, Kazakhstan, Iraq, Mexico, Paraguay, and others all added to their gold reserves.
|
Quote:
|
China is continuing its policy of acquisition of gold and mines.
|
Quote:
|
Gold bar sales in China, for example, doubled in the Spring Festival this year (2013) compared to last. Sales of gold and silver have increased almost 39 percent. Gold has also reached a highest ever in other countries such a Brazil, Iceland and India
|
Quote:
|
?Only Gold is money, everything else is credit.? - J.P. Morgan
|
I'm not a big gold bug, but countries and banks are not stocking up for shits and giggles.