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no news flash here.......

perhaps those with gold jewelry will be better off?!
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peace, movie zombie
 
It''s interesting. I remember when commodities like silver and diamonds hit a huge peak price. (In the 1980''s?) At the time, it felt that prices would go up forever, but they fell. I later pitied the poor people who bought their one engagement ring diamond at those high prices.

I would probably do well not to buy anymore gold jewelry myself now! Gold prices will come down again (even if the designers'' prices do not!). It is crazy to buy when the price is high. I know that no one knows how much higher prices will go, but I prefer to follow the advice of the mogul (I can''t remember which one) who said that the time to buy real estate was when the blood was flowing in the street!

Joining a stampede to spend a lot of money seems crazy! If diamonds are going up, too, my tennis bracelet is going to have to wait!

Deb
 
The cost of the gold in jewelery is so small that its not worth bothering about.
The actual gold cost is a very very small fraction of the cost.

Now investing in gold bullion or coins would not be smart right now.
 
1 troy ounce = 480 grams

1.55 grams=1 pennyweight (dwt)

14kt is 58% gold
18kt is 75% gold


http://www.diamondandestatejewelry.com/gallery.php/en/353

Lets use this one as an example, its on the heavy side so a good example.

It weights 50.7 DWT

its 75% gold by weight.

so 38.025 dWT of Gold


38.025 x 1.55 gives us grams.

58.938 grams of gold.

At $480 a troy once the gold cost is $1 per gram
or $58.94 out of $2000

lets say gold goes up to $960 a troy once.
The gold cost is still only just over $100 at $117.18
 
Storm

Please quit with the logic and the math. There''s no place for such behavior on the internet.

R/A
 
Date: 12/9/2005 11:54:12 AM
Author: Rank Amateur
Please quit with the logic and the math. There''s no place for such behavior on the internet.
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R/A, you are too severe! Math and logic have their place, it is merely the discussion of pavillion and crown angles for which a truly condign punishment should be found!

Deb
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Here is the flip side of the argument:

By breaking from a hard currency tie to a "rare" material (gold, silver, etc) the concept of money then becomes nothing but an "idea."

This allows unlimited potential for people to create weath in the nation and the world.

Afterall, their is only a certain fixed amount of gold (and new gold supplies trickle in slowly). If the dollar was pegged to gold; the US economy would be limited to the amount of gold available - which would be a small fraction of the current economy.

While it would be true that you would be conceptually able to buy a loaf of bread for a nickle. The fact is that their would not be enough nickles in the US for the current population to afford bread.

By breaking the tie to had materials - the World economies were allowed to grow and greatly enhance the quality of life far beyond what it could have been if tied to a gold standard.

Yes, an unfortuante side effect is inflation. However, the growth of the economy is way beyond the rate of inflation since the gold standard endid.

It is possible for all of us to do better now - each of us can build our own wealth - without having to literally get it from others (which would reduce others life style). With this system there is the potential for everyone to help each other up financially - because their can be unlimited money.

That is the advantage of not having a gold standard. I think most of you like the current system. It would put the US back decades as the world surges ahaed if we were to pass a gold standard. Note that I do not believe any other nation in the world has a gold standard either. Our currencies are valued based on other things.

Perry
 
There is a thread in another area of Pricescope where someone wanted to know what she could expect for her gold if she traded it in. I linked that thread to this one, then thought I should update this thread.

Since we were last discussing gold, the price has absolutely skyrocketed. At the moment there is a slight dip, but I do not know if it will last. As I posted elsewhere, in Asia people have been selling off their gold. I didn''t know that this was also happening in Egypt, but apparently it was.

Egyptian Rush to Sell Gold Appears to be Ending


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Date: 6/10/2006 2:08:11 PM
Author: AGBF
Egyptian Rush to Sell Gold Appears to be Ending
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Here is an excerpt from the article above.

"Gaza goldrush coming to an end
18:22:28 GMT, 09 June, 2006

For the past few weeks, residents of Gaza have been selling off their gold possessions in exchange for food and clothes, although reports in Australian newspaper The Age suggest the trend is now on the wane.

Everything from jewellery and women''s golden dowries to family heirlooms have been sold off to generate some much needed cash.

Most of the gold on sale is sold for slightly less than raw bullion prices on the current markets. Once bought, many of the items are melted down and used to fund further gold creations for sale on the affluent Dubai gold market.

Gold sales have kept the Gaza population''s individual economies ticking over as much of the traditional governmental import and export markets have been closed as a result of the recent political unrest.

The sight of several sellers crowding to relinquish themselves of their more expensive possessions has created a somewhat unwanted media frenzy in the bazaars and marketplaces of the war-torn Middle Eastern nation."



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bet they were getting pennies on the dollar too.
Thats the problem with gold in an emergency when your desperate it loses a lot of value.
Thats why its better to invest in beans and bullets they go up in value in an emergency once thats taken care of then Gold and silver is good for the long term but its 6 or 7th down the list.

secure shelter
water
food
medicine
guns
ammo
trade goods
toilet paper

are much more important in the short term.
 
Date: 6/11/2006 10:50:17 PM
Author: strmrdr
bet they were getting pennies on the dollar too.
Thats the problem with gold in an emergency when your desperate it loses a lot of value.
Thats why its better to invest in beans and bullets they go up in value in an emergency once thats taken care of then Gold and silver is good for the long term but its 6 or 7th down the list.

secure shelter
water
food
medicine
guns
ammo
trade goods
toilet paper

are much more important in the short term.
Click to expand...
Storm you crack me up! So true, you can''t eat gold (or diamonds)! but tp is always nice to have! As far as the collapse of civilization not very likely any given year, but if it does happen people like you will be laughing at the rest of us fools.
 
Date: 6/11/2006 10:50:17 PM
Author: strmrdr
bet they were getting pennies on the dollar too.
Thats the problem with gold in an emergency when your desperate it loses a lot of value.
Thats why its better to invest in beans and bullets they go up in value in an emergency once thats taken care of then Gold and silver is good for the long term but its 6 or 7th down the list.

secure shelter
water
food
medicine
guns
ammo
trade goods
toilet paper

are much more important in the short term.
Click to expand...
Were you at that investment class I just took last month?
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emteeth.gif
Sounds like it.
 
one other thing to add to the list above gold and that is female items.
Being a guy I forgot to add them to the list.
Which is why they will be scarce and valuable.
pads also work well as pressure bandages for wounds when combined with an ace wrap.
 
Date: 6/12/2006 8:38:11 PM
Author: strmrdr
one other thing to add to the list above gold and that is female items.
Being a guy I forgot to add them to the list.
Which is why they will be scarce and valuable.
pads also work well as pressure bandages for wounds when combined with an ace wrap.
Click to expand...
Word.
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and pantyhose can be used in place of the ace wrap, stretchy support hose prefered.
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And the packaging material can be used to seal a sucking chest wound.
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Storm, you''d make a helluva Girl Scout! (just kidding) Thank you for the survival techniques, though--there''s only so much we can do with our diamonds!
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Well, there is a new gold coin (24K) being issued by the United States.

"The United States Mint unveiled its 24-karat American Buffalo gold coins Tuesday, the first time the government has made 99.99% pure coins for investors and collectors."

Gold Buffalo Coin

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storm, i''ve sent you a private e-mail with a very very interesting article regarding gold....of particular interest to those of us concerned that the so-called patriot act gutted the Bill of Rights and have survival tendencies.....

movie zombie
 
Storm I think you mean 1 troy oz =31 grams or you may have meant 480 grains.
 
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