JnrTrader,
"the day gold falls to $800 pigs will fly"
I can see you're wet behind the ears and have probably never experienced a major crash, one so spectacular that the 'investors' become paralysed, like possums in the headlights, and I'm not talking about the recent property correction which was merely a slow motion train wreck.
Like the gold crash 1981 (-70%), NASDAQ (-77%) and oil 2008 (-78%).
Probably one of the most interesting was the goat crash about 15 years ago. Like you believing gold is valuable, lots of amateurs believed goats were suddenly worth a fortune, some of my friends bought an angora buck for $44,000.
A few months later it was goat curry.
"gold is MONEY".
Gold is not money, it's a commodity, not a very useful one, one that may be turned into money if you care to get in your car and drive to a dealer if you own physical.
"what is your alternative to gold as an investment"?
The last thing I would own is gold, if the dam bursts, you better take cover, and it's gonna be a lot worse if you're geared up or overexposed.
I own a house, farmland, livestock, a commercial property, shares, bonds and cash.
Anyway, where is Ophir, he reckoned gold was off to the races this week?
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