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Is Gold still the most dependable currency?
Made Popular Mar 14 2008
Yes
# Gold crossing the $1000 mark for the first time in history places it as the best currency one can still possess.
# Risings prices of agricultural commodities and oil coupled with a falling dollar brings out the risks of paper currency.
No
# As a real currency, Gold has not been able to keep pace with inflation, even though it is being traded at highest prices ever.
# An impending American recession has caused a credit crunch, pushing up Gold prices and as the financial system stabilizes, its prices will recede; eroding the real worth in currency terms.
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Khor
Mar 14 2008
Kuala Lumpur,
Malaysia
Yeah, it's always dependable than any other currency in the world. However, given all kinds of market tumbles, its better to have currency in gold with us. It is better than keeping faith in government to make things right.
Comment Link
(Global Perspectives)
Gold is much expensive right now. It has the history of being both cheaper and more expensive in the past. It's value might decline or go up. Whatever, but it has the evergreen market value.
(Global Perspectives)
The devaluation of US dollar and the Gold's rising traditional role as a safe 'currency' and the fears of rising inflation resulted in gold prices touching 17% high price this year.
(Global Perspectives)
Euro is better than other currencies. The euro firmed to 1.5640 dollars in Tokyo from 1.5624 in New York, close to its all-time high of 1.5645.
(Global Perspectives)
Dollar is losing its shine in international market. Gold futures hit $1,000 an ounce for the first time and pushed past the benchmark by dollar and record crude oil prices. The US dollar fell down below 100 yen in Japan, the weakest level in 12 years. It has also gone down to all-time lows against the Euro too. No more dollars now.
(Global Perspectives)
No, What I think is US dollar will get strength in months. You can't believe on Gold price because it has history of going down drastically. The price of gold can't be linked with the rate of inflation too. For me, US dollar is still the better bet.
(Global Perspectives)
The decline of US dollar and the shooting price of crude oil have pushed the gold price to unbelievable high. It will come down in days. Dollar cannot be replaced.
(Global Perspectives)
The gold price would see another high more than $1000 mark. It will be foolish to pick a top for Gold price at such condition of US dollar in International market.
(Global Perspectives)
Currency gets shape in markets because markets determine exchange rates. It decides the price of Gold on the trade-weighted basis. Its bad idea to make gold international currency.
(Global Perspectives)
Are you serious?? I guess you must be joking, if not then think what happens when the US dollar gets strength in days.
(Global Perspectives)
The U.S. Dollar Index is treading water around the 72 to 73 mark and it has become transparent that the Euro is shifting base to gain the role of the world’s reserve currency from the US Dollar. No one knows how low the US Dollar could go from here. All I can say that it might go to zero because it is a fiat currency with no real tangible backing.
(Global Perspectives)
Gold trades off the greenback because of two great reasons. First is that it is priced in US dollars and second reason is- it is considered as the strong alternative to currency mood swings. The six-year slide of US dollar has been proved as a boon to gold stability.
(Global Perspectives)
Gold has been considered by investors as a good protection against depreciation in a currency's value, internally against inflation and externally against other currencies. In case of depreciation of other currencies, gold is widely considered to be a particularly effective hedge against fluctuations in the US dollar.
(Global Perspectives)
The metals consultancy GFMS Ltd. surveyed the strength of the 22 commodities and the US dollar. What they found that gold is not only a more potent hedge against dollar than other commodities, but also that it provides protection when most needed like when the US dollar is losing value in international market.
(Global Perspectives)
people who invest in gold term gold's reputation as a protector of wealth against the ups and downs of inflation. Market cycles come and go, but in log term, through both inflationary and deflationary periods, gold has consistently maintained its purchasing power across the world.
(Global Perspectives)
Of course..Only gold can deviate from its long-run inflation-hedge price. In case of a buoyant period it can offer opportunities for impressive returns against almost every currency.
(Global Perspectives)
For all of us Gold is important. Demand for gold is widely known phenomenon. East Asia, the Indian sub-continent and the Middle East accounted for more than 2/3rd of world demand in 2005. More than 50% is attributable to just five countries like India, Italy, Turkey, US and China.
(Global Perspectives)
The demand of gold in India is actually supported by cultural and religious traditions. The growing demand of gold in India is not directly linked to global economic trends.
(Global Perspectives)
Gold investment can be done in different forms and most investors choose to combine two or more forms for flexibility. We should note it that the difference between purchasing physical gold and gaining exposure to movements in the gold price is not always clear.
(Global Perspectives)
Central banks in almost every country and World organisations like the International Monetary Fund hold just above one-fifth of global above-ground stocks of gold as reserve assets. It amounts more than 31,000 tonnes spread across 110 organisations. Its good debate but not useful one.
(Global Perspectives)
to have gold doesn’t mean you turn Miadas.
i really agree with this thought. apart from liquidity gold has got all the qualities of being man’s best friend. as much gold you have the more secured you are for all kinds of troubles. they may not be available in hand at the time of emergency as they need to be converted into cash, but whatever it may be it is the best way to have a secured future.
i really agree with this thought. apart from liquidity gold has got all the qualities of being man’s best friend. as much gold you have the more secured you are for all kinds of troubles. they may not be available in hand at the time of emergency as they need to be converted into cash, but whatever it may be it is the best way to have a secured future.
(Global Perspectives)
Without any doubt, I agree to the fact that gold is the most dependable currency. Where the whole world has undergone a depression nowadays, its always better to prefer this yellow metal over other liquid assets. I would another option- Grab a piece of land and see it growing even faster than GOLD.
(Global Perspectives)