Gold Price $2213.02ounce

Gold price ,now $71.15 7th Aug

hi flake, it is a nice round figure.
60 bucks for a bit a piddly bit of gold seems weird but then again that's why I think they call it PRECIOUS
May it keep climbing and those grams keep popping out of this beautiful earth.
cheers  moredeep

Yes, it's a good price compared to what I was getting in the mid 80s. I sold a 64 ouncer for $33,500. That's about $17 a gram/$525 an ounce. ouch!

I can remember way back when we were getting $14.00 a gram and thinking that was a good price.

All I can say is I hope it keeps staying up there.

Cheers.

Mike.

Mike54 wrote:I can remember way back when we were getting $14.00 a gram and thinking that was a good price.  

Cheers.  

Mike.  

Fair enough Mike,

But if we put in context with wages then and now it pans out. In 1962 when I began my apprenticeship my 40 hour week pay was £4 7/6.
The average earnings for a week’s work in 1965-66 was $57 for men, today the averages is around $1100.00.

Is it the value of gold going up or the value of our paper
money going down?

High gold price and TV shows showing how easy it is to find not
a good mix.

There's something that has been puzzling me for a while.Why is it that each time I've sold gold over the last 6 years the price is always the same no matter what the spot price is.This is not to say I didn't get a good price as I was surprised even when the spot was low.
Does anyone know currently what Coiltek and Miners den are paying with the higher spot price.

Hi Nightjar,The price of gold in Australia in 1965 was $48 ounce, the price today is AUD $1874 ounce.

More the reason to hang onto it if you can,10 years down the track it could be worth ?????.
I suppose it all depends on the stability of the world,if Armageddon appears gold might be worth a million dollars an ounce but a can of baked beans might be worth 1/2 a mill
But then again It's all relative I guess ,spent it now and have a bit of fun?

cheers moredeep

Nightjar wrote:

Mike54 wrote:I can remember way back when we were getting $14.00 a gram and thinking that was a good price.  

Cheers.  

Mike.  

Fair enough Mike,

But if we put in context with wages then and now it pans out. In 1962 when I began my apprenticeship my 40 hour week pay was £4 7/6.
The average earnings for a week’s work in 1965-66 was $57 for men, today the averages is around $1100.00.

G’day Peter,

Yes I know what you mean, my first year app wage was $15.00 for 40 hr week (1970) my brother in law was working in a foundry as a labourer getting twice my wage.    

Cheers.  

Mike.

Gold price is still see sawing slowly upwards. $60 a gram. Need to be able to get out hunting again. 

I just begun reviewing The Definitive Guide to Gold, a free 65-page ebook that talks explains how gold is an important part of financial success. It’s pretty interesting to see how technology is changing the gold industry.

Interesting comment by Moredeep ,, yes gold's value will increase running up to Armageddon BUT at that momentous event the scriptures say people will throw their gold into the streets... Bring it on,, I wont need my ageing detector...(this might be a bit too serious for some) dundiggin

Just smashed through AUD $2000 per ounce for the first time in history !
Where will it stop ???????????

Rick

Is it because Donald wants fistycuffs with the ayatollah???

cheers moredeep

It's going in the right direction....when it hits AUD$30 000.00 per TOZ then Lisa and I should be close to breaking even.

Geez that would be nice Tony, but unfortunately I don't think anyone would buy real/physical gold at that price.
Stock market gold is all in the digital world, backed up by places like fort knox.
I'm guessing rich billionaires in positions of power who have a paltry 100,000/several thousand ounces invested, can unstable the world market pushing up the price and making a quick tidy profit for themselves.
But then again we know that people in high office are extremely ethical and wouldn't do such things

cheers moredeep

The increase is mainly our dollar falling against the US.

$2008,21 this morning 21-6-19

quote="flake"]Hi Nightjar,The price of gold in Australia in 1965 was $48 ounce, the price today is  AUD $1874 ounce.[/quote]

An oz of gold in 65 would buy a hell of a lot more then than it will today just as an oz of gold would buy more in 1852 than it would in 1965

found this chart
only runs to 2012 but gives you an idea

http://goldsilverworlds.com/wp-content/uploads/2012/07/cpi_inflation_adjusted_gold_price_200_years_1800-2012.gif

its inflation adjusted gold price for last 200 years
or the true value of gold

regards
mick

Almost 2200 AUD/oz.
I wonder how long ithe rise will last?

As long as the tension between nations keeps escalating, so will the price of gold Adrian.

Cheers Kon.

I hope it goes up more to cover the loses in Super with the state of the Share Market.

Well there is some serious tensions going on between China, Iran and the USA and now Dim Sim Kim is stirring the pot again.

Here is where to find who is buying the most gold at this time.
https://www.forbes.com/sites/greatspeculations/2019/02/04/central-banks-havent-bought-this-much-gold-since-nixon-closed-the-gold-window/#7cd952ac3c2d