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Hi Gerry and other gold investors.
I am naive here as I haven't read the sharechat threads....so criticise if I am out of line here with my statement.
Reason why I haven't read the thread is there is better investments around.
Gold valued in US$ so US investors "hedge falling US$ with gold.
So ,yes one can make a lot of money with futures .
What I can't understand is why over the past year, and now, why don't investors... instead, buy in strong rising currencies e.g $AUS or $NZ . Better still why not invest in the upward rising stock of the ASX and NZSX, and reap multiple profits.
I have had a private war with an overseas investor who invested in USA, saw the tide turning a couple of years ago and has chewed my ear ever since, in trying to convince me to change my investment to gold. I keep telling him why????? .He wanted me to sell my NZ portfolio to invest in gold, Bugger that...I said ........I am totally into DPC (yes.. not recommend in investment portfolio theory) and over the last year I have tried to tell this Guy that I have, to date that I have multiplied my DPC investment by 2.55 and with the currency exchange going from US41c/NZ$1 to US64c/NZ$1 there is another multiple of 1.56.
In effect ,if an Americian bought DPC with US$ a year ago at NZ$1.05
Buy US$ 0.43 @ 1000 buy in .....US$430
Sell now NZ$ 2.20
plus warrants
sell 250 @ US$0.46....................US$ 115
sell 250 @ US$0.50....................US$ 125
sell Total........................................US$1650
Paid US$430 sell today US$1650
yep.. about 400% profit
He is a millionaire and guess what .....he said the other day."you're lucky but I've made money in transferring US$ to gold"
I GIVE UP
Hoop
-------Original Message-------
Date: Friday, 05 December 2003 16:11:49
Subject: Re: Re: [sharechat] Gold reply
Yes, I believe that the US economy is going to have problems next year and gold could do well.
Just an opinion,
Gerry
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