Who else is losing all faith in GOLD as a safe haven

MattZ said:
Simple correlations such as "MKT down, Gold Up" may not be very useful to traders and investors.

Trade price, not ideas.

Forget the last 20 years that Gold gave zero relief as safe haven when the market meltdown occurred, let's go back to the times that had no sophistcuted derivatives, and supposedly gold should have been safe haven.

The Tulip Bulb Panic from 1633 to 1637 had no effect on the price of gold. Gold prices were steady at £3.73 in London throughout this period.

During the years previous to and following the South Seas Bubble in 1720 gold prices were steady at £4.25; what had been proclaimed the gold standard in 1704 and remained-so essentially unchanged for the next three centuries.

The years preceding and following the Panic of 1792 saw steady gold prices at £4.25-standard levels.

The 1800s saw no less than a dozen named panics: gold in the United States rose briefly in 1865 preceding the Panic of 1866, but otherwise remained locked in a range between $19 and $23 for 130 years.
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Yes, but the difference way back then was, savings were the keystones to most families financial strategies. These days, socking money away in the bank doesn't do it, gummints the world over are grinding interest rates down down down, tell me, what does a drawer full of gold achieve for anyone, it makes more sense to buy stocks than buy gold, the stock market is the new vault, the only difference is, one needs high speed keyboard fingers to withdraw and deposit.
 
gold to the precious is like bitcoin to the cryptos, both are the best out of shit asset classes... so they will have some good days, but are still shit class.
 
dozu888 said:
gold to the precious is like bitcoin to the cryptos, both are the best out of shit asset classes... so they will have some good days, but are still shit class.
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Compare the US Dollar vs. gold since early 1970's (gold standard elimination). Hell, compare it to the SP500 since then...gold holds its own very well. Anyway, gold has destroyed the dollar over last 50 years...that doesn't sound like a shit asset class. Your dollar has proved to be a flawed asset class...fiat garbage...just less garbage than its foreign competitors. So, when you say "some good days", you must really mean some good years...how else could it get to $1700-$1900 price ranges from $35-$300...can't get there in days only.

I'm biased towards gold right now because I believe its time to be a gold bug. When gold peaks, I will be a stock market bug once again. You on the other hand, seem to be biased against gold no matter what. Gold could go to $2500 and you'll still be a hater...I can't take you serious.
 
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