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Guide on How to Coins and Gold Bullion. Thursday, September 05, 2013 Why is gold considered so valuable? Normal 0 false false false EN-AU X-NONE X-NONE Why is gold considered so valuable? Gold has had an alluring attraction for man throughout the ages. Wars have been fought over it, love has been won by the use of it and merchants have been made wealthy because of it. But why has gold, almost without exception, been a favorite with men and women over the years? What causes this strange attraction? Some contributing factors might be that gold does not tarnish, rust or deteriorate in any way, but remains shiny and golden at all times. It keeps its value even when the economy is taking a dive. Gold remains steadfast and true relative to the value of other goods and services. In fact, the decline in confidence in world currencies contributes in no small way to the continued popularity of gold. With the advent of the internet, the transfer of funds by the use of gold has now become big business and millions of dollars worth of gold is moved around the planet literally at the speed of light and Asia, of course, never did lose its focus on the value of gold both economically and culturally. The European exploration of the Americas was fuelled in no small part by reports of the gold ornaments displayed in great profusion by Native American peoples, including Central America, Peru, and Colombia. The desire for gold was so strong that ships flooded to the Americas in search of this wondrous metal. Gold is not the most expensive of the metals. Platinum being traditionally of higher value. But although the price of some platinum group metals can be much higher, gold has long been considered the most desirable of precious metals, and its value has been used as the standard for many currencies in history. Gold has been used as a symbol for purity, value, royalty, and particularly roles that combine these properties. Although the gold futures price you see in the media continues to go up and down like a roller coaster, gold is still considered highly valuable. Asia, collectively, is the biggest buyer and holder of gold on the planet, followed closely by Russia and South America. The vast majority of people on the planet think that gold is worth keeping and favor it over paper currency. Some people consider gold is valuable due to its rarity. However there are many other elements and substances rarer than gold but which do not have the same level of desirability. Diamonds for example, Platinum and some of the rare earth elements are more rare than gold. Its malleability is another reason but there are also other materials equally as malleable if not more so. Philosophically it was once said that when gold was created the gods put desire into it so that man would always desire it. Perhaps there is a lot to be said for that theory, as whimsical as it may be. Perhaps it is a cultural thing. In Africa gold was not considered particularly important to the indigenous tribes until conquerors from the west came and expressed their ardent desire to own the metal thus giving it value. On the other hand, in the Americas, gold has always traditionally been held in high esteem. Gold is very versatile. It does not tarnish, is impervious to most other elements and can be moulded and worked into an almost infinite variety of shapes. Perhaps it is a combination of all these things and others. Thomas More, the renowned English author, poking fun at gold as a symbol of wealth and riches in his novel Utopia and, by implication acknowledged it. On the imaginary island of Utopia gold was so abundant that it was used to make chains for slaves, tableware and lavatory-seats. When ambassadors from other countries arrive, dressed in ostentatious gold jewels and badges, the Utopians laughingly mistook them for servants and addressed those in the party who were NOT so lavishly adorned. Despite Thomas More’s jocular reference, gold has held its own in any society through the ages and continues to do so as evidenced by the continual accumulation by many nations and peoples. Gold will continue to be considered highly valuable by the vast majority of people on this planet regardless of any temporary short sighted price manipulation of the gold price. References: http://buying-gold.goldprice.org/2013/06/gold-short-selling.html en.wikipedia.org/wiki/Gold Posted by Michael Moore at 5:02 PM No comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Wednesday, August 28, 2013 The True Value of Gold Normal 0 false false false EN-AU X-NONE X-NONE The True Value of Gold The true value of gold is reflected in the prices people are willing to pay for it. Not in the futures price one sees every day in the media. For example, the official price of gold in India is currently around $1416 per ounce. That is 96,627.77 Rupees. Yet people are forking out up to $1800 dollars per ounce. Of course the Rupee has devalued somewhat, but that does not explain the big disparity in the price. Despite government sanctions and penalties on buying and owning gold, people are still willing to pay a big margin over the top. And India is not the only country where gold is valued more highly than currency. Currently in Japan gold bullion demand is double that of 2012 and on the Tokyo Commodity Exchange (TOCOM), earlier this year, gold hit a record price of 5,081 yen per gram (equal to 1,562 dollars an ounce). In Russia there is a good understanding of the value of gold. While the gold price in Russia is 47,013 Rubles ($1419), Vladimir Putin has instituted a policy of making Russia the biggest world gold buyer and Russia is now buying up gold like there is no tomorrow. The Russian Central bank now holds well over 570 metric tones and has surpassed China in the race to own more gold. The Vladimir Lenin gold coin has jumped 400 percent this year in perceived value. In an interview with Bloomberg earlier this year, “The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” said Evgeny Fedorov, a member of Putin’s United Russia Party. Many other countries, particularly Asian and South American, are following suit and its not just Central banks, individuals and institutions are also furiously stockpiling gold. With gold starting to rise again, this is an ideal time to buy gold and start ones own little stock pile. www.silverdoctors.com/japan-insurance-gold-buying-doubles-on-yen-concerns/ www.goldrate24.com/gold-prices/europe/russia/ www.bloomberg.com/news/2013-02-10/putin-turns-black-gold-into-bullion-as-russia-out-buys-world.html www.kitco.com/ Normal 0 false false false EN-AU X-NONE X-NONE Normal 0 false false false EN-AU X-NONE X-NONE Posted by Michael Moore at 5:44 PM No comments: Email This BlogThis! Share to Twitter Share to Facebook Share to Pinterest Sunday, June 16, 2013 Gold Short Selling Normal 0 false false false EN-AU X-NONE X-NONE MicrosoftInternetExplorer4 Gold Short Selling Many people keep asking me, what is gold short selling? One way certain banks make a profit in the market place is by manipulating the price of a commodity to such a degree that you can make money out of that manipulation. Of course it has to be legal or done so cleverly that it is difficult to pinpoint any illegality in the operation but it can be done and is to this day. It works like this. We will take walnuts for example. One wants to make a vast quantity of money from trading in walnuts. One could buy up lots of walnuts and wait for the price to rise. But that takes too long and the price may never rise. One is depending on so many factors out of ones control. In order to make money, one has to place as much of the transaction as one possibly can under ones own control. Usually one controls only one side of a transaction or contract to buy and or sell. The other party controls the other side of the transaction. This is u...