is the gold rush over?

[Southie]

Re: is the gold rush over?

As gold reached 1190, right on cue there was an article stating gold could hit 850. So when gold was at 1900 2 yrs ago no alarms were raised. But after it gave up 700 points pundits sounded the alarm.

Gold closed today at 1223.

[shayan007]

Re: is the gold rush over?

gold investment is good, but requires lot of knowledge and patience

[Southie]

Re: is the gold rush over?

Yes. A loooot of patience. It has barely kept pace with inflation in the last 180 years.

All that glitters

[adeeba]

Re: is the gold rush over?

Gold prices hiked in the past 1 week due to the festival season due to more consumption - its considered auspicious - in ind
Rather than that, how would you pay zakat if you invest in gold?

[Southie]

Re: is the gold rush over?

^ The answer to your question is above my pay grade.

Gold At 4.5 Yr Low today. Closed at 1140. Or 600 points below when thread was opened. Or 35 pct below the price where folks were getting excited.

queer had it right though. Even the clock is correct twice a day.

[Southie]

Re: is the gold rush over?

@Southie

This thread is an example of how people make all sorts of bullish predictions based on old wives tales. But don’t come back to revisit their “bold” calls. As stated earlier gold at 1740 when thread opened was closer to peak than valley. But that didn’t deter some who maintained gold always maintains value..something abt CPI was thrown in for good measure. Alas, gold closed at 1190 friday. Drop of 550. Or drop of 32 pct. Meanwhile snp 500 in same time increased from 1430 to 1970. Or about 38 pct. Throw in 3 years of div at 2 pct per year. That is 44 pct. Or trounced gold by 76 pct in little less than 3 years.

Gold at 1180. Loss of 560. Or 32 pct. Snp500 at 1994. Gain of 564. Or 39 pct. Plus 2 pct yld. Or total return of 45 pct. Trounced gold by 77 pct in 3 years.