gold fast fast drop to 1600 level, then can buy more....

slim chance of gold nearing 1600....

i think we belong to different school of thought.!
Option 1: For the reason of fear, trust, convenience, leave the money in financial system : fiat, stock, equity:- it will get indirectly stolen by ruling class over time.

Option 2:- get the money out from ruling class control:- get stored value $ in precious metal and store it aside. I take my chance.

given to choice, I take the bolded risk. Opt 2. for the rest of you, it up to U 2 decide.

purity : buy small size 1 oz or less. Pay the premium, don;t be greed.

Its going down...

Equity make a lot people become rich, not stolen, unless one owns rubbish stock then different story.

We live in a fiat system, even gold pricing itself is under fiat system.
Gold has no value at all, the value exist is because of fiat system aka what we seen USD1750 per ounce is valued under fiat money system.

But I trust the financial system more than security of the physical gold in term of theft.
Because if financial system freeze or in trouble, everyone fight hard and find solution to fix the system, just like what happened during 2008 crisis.
But if your gold being stolen, nobody care.

I respect you view and preference, there is no such thing right or wrong in this manner, as we belong to different school of taught.

Gold is tougher than money.thats it.

I'm here just to share my view:-

If you read book "Crash Proof" by Peter Sciff , you will understand that the way they fix the system in 2008 is by printing more money - devalue fiat currency. (Which is clearly legally stealing wealth of others). Basically our money / purchasing power got stolen. And nobody cares. but I care.

That is why having physical is important. If you're afraid that you lost your gold, then think of how to reduce the risk.

True story. I got reletives that has gold from great grandma which is more than 80++ years... and those central bankers can't steal the buying power...

Cheers.

This post has been edited by azizulego: Nov 17 2011, 11:46 PM

http://kitco.com/market 11:00 EST Gold: 1736.40 / 1737.40 Silver: 32.58 / 32.68

but, USD currency strengthen....

what price u guys will enter in for GOLD ?

Real 99.99% gold is actually very soft only.

Having physical and paper is the same. Both price also go up.
In fact, physical pricing is following the paper one.
The different between paper vs physical is always whether you trust the banker or not only.

The buying power has been stolen without your notice only.
Gold doesn't necessary hedge you 100% on inflation when there is money printing going on.
In fact, gold has not peak at inflation adjusted pricing even it reached USD1900.
It still fail to hedge your inflation adjusted valuation.

2kg of gold can buy you a terrace house during 1980, but you need at least 3kg to buy the same terrace house now.
Buying power has been stolen even owning the gold.

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Added on November 18, 2011, 12:46 amPrime location property is "harder" than gold.

This post has been edited by cherroy: Nov 18 2011, 12:46 AM

Methinks as long as "value" is based on fiat $, gold "investment" will still be an "alternative" to the main 3 of bonds, stocks & properties.

However, having thought that, i'd still hold some physical gold (in small coins/bars) for emergency / SHTF cases as in "all hell breaks loose and i need to run away/feed my loved ones" kinda situation , when cash and credit cards are useless. It's only a small % of total net worth held, thus, no biggie gua to prepare for such extreme situation.

Not necessarily true.........depends on where the house is.......ask the YANKs...

If your house was in a normal location which has become a prime location
because some politician has an adjacent land, that does not reflect
INFLAtion...

Are u sure about the house price example, cherroy?

yalor.. USD naik so much. might be at RM175+-

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Added on November 18, 2011, 9:28 amnot really a slim chance now, all stocks are doing good in this period.

This post has been edited by Alexdino: Nov 18 2011, 09:28 AM

where to refer USD/MYR correctly? any website? or see the bank rates? see buying or selling? or average of it?

please share

if cherroy using overvalue housing price to compare with something undervalue, yes of course 2kg of gold nowadays cant buy a house. But overvalue property will get back to its own value once the market crash. If today US dollar back to gold standard, i believe 2kg is enough to get a house.

This post has been edited by kakiayam: Nov 18 2011, 10:18 AM

google search Rm to USD

want the rate update according to market 1 if possible

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Added on November 18, 2011, 10:46 amhttp://www.xe.com/currencycharts/?from=USD&to=MYR&view=1W

This post has been edited by xproc: Nov 18 2011, 10:46 AM

Over valued, undervalued, I don't know.
But I just using my old house, and surrounding house and KL terrace house as benchmark.

I don't know how to value.
I only know last time, a terrace house can be bought at 50-100k during 1980, and gold price was USD 300-500.
Now a terrace house need at least 700k-1mil and gold price is USD 1750.

I don't know where to get a terrace house in urban area like Penang/KL with 2kg gold?

I only know last time, a bowl of mee cost me Rm0.20, when I was kid, when gold was USD300
Now, a bowl of mee, cost Rm4-5, and gold price is USD 1750.

I don't know how to calculate, I just use simple mechanism, especially a bowl of mee which is most important for me, as fill the stomach is the most important "hedge inflation" benchmark.

if usd strengthen and gold drop... how will it effecting our gold price?