Dougie
Gold is a commodity not money.
It can be used as a defacto currency if people are willing to accept it as payment, which many individuals around the world will, however it's value as such is only by agreement.
I am a gold bug but not on the currency standard side of the fence. Those who are, are on the wrong side of a very very long bear. There is no magic to this, gold is simply not a practical means of monetization. The fiat system is because it monetizes all product not just one very small sector.
Gold may well spike to US$3k plus, and I'll be very happy if it does, but that doesn't create a mystical new pedestal for it because if you didn't have any when the peak started you're going to need to find US$3k+ to get an oz. Since it's primary value is in jewellry, demand will react to curtail price. Further it's secondary value is as a hedge against inflation for those who go to gold for that purpose so when inflation comes back so will that factor.
It's simpler for everyone to recognise that there is a bull market for gold without any of the mystical stuff.
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Last
21.0¢ |
Change
-0.005(2.33%) |
Mkt cap ! $171.7M |
Open | High | Low | Value | Volume |
21.5¢ | 21.5¢ | 20.8¢ | $551.3K | 2.624M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 52999 | 21.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
21.5¢ | 171494 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 52999 | 0.210 |
19 | 997648 | 0.205 |
34 | 1115858 | 0.200 |
18 | 837724 | 0.195 |
20 | 359710 | 0.190 |
Price($) | Vol. | No. |
---|---|---|
0.215 | 171494 | 4 |
0.220 | 83008 | 3 |
0.225 | 167974 | 6 |
0.230 | 574984 | 9 |
0.235 | 385000 | 4 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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