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FNG
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July 22, 2013, 09:27:49 PM |
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Most of the jewelry is sold in Asia. The jewelry is bought as a store of value. It doesn't matter if it's bought in a rectangle brick or a necklace..it's still bought for it's intended purpose.
It's bought for bling, that implies value but it's not bought as an investment. It's bought to be used. Since jewelery isn't even made up of pure gold and is alloyed it's made to be used, a investor looking for a store of value in terms of gold wouldn't care if it's made up of pure gold, even better the alloying wouldn't have to be payed, pure gold bullion is the most popular form of use as investment. So it does matter if you buy a a bar or coin versus a ring or necklace. Most popular where? Gold here is 23k (96.5%) whether it's a bar or jewelry. jewelry carries a VERY small premium and may be used as "bling" but it is a store of value. 23k and 22k is prevalent in Asia as jewelry and it is a store of value. if I throw a stone in Bangkok I can hit a dozen gold shops..they're not selling alloyed bling to the rich..they're buying and selling a store of value to the masses at a pretty tight spread at the market price. Shit 14k jewelry with a 800% markup doesn't sell in most of the world. . That's bullshit. Metric Investment bars are 99.9 and investment bullion coins are 99.9. Oh and comex 400oz bars are also pure gold. Again, look it up. lol. You're joking, right? So 96.5% gold is only bought for bling and nothing else but .9999 is bought for investment..all other gold is just shiny shit that doesn't store value. Do you read what you type or just ignore reality and hit the post button? |
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ElectricMucus
Legendary
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Activity: 1666
Merit: 1057
Marketing manager - GO MP
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July 22, 2013, 09:33:23 PM |
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I said half of it. http://en.wikipedia.org/wiki/GoldThe world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. I guess wikipedia should check their sources ha? Btw investment is 40%, I think that includes "pure gold rings"  |
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italeffect
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July 22, 2013, 09:34:34 PM |
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This should be interesting...  |
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Ivanhoe
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July 22, 2013, 09:35:28 PM |
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Hoping for some fireworks tonight after a boring day.
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gog1
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July 22, 2013, 09:35:32 PM |
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This should be interesting... WTF! |
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molecular
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July 22, 2013, 09:40:45 PM |
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This should be interesting... WTF! "ssshhhh! Don't move!!!" *looks right and left* "I think the walls are coming closer!" |
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ElectricMucus
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Marketing manager - GO MP
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July 22, 2013, 09:42:17 PM |
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Tzupy
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July 22, 2013, 09:44:48 PM |
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The only question is if the buying whale will place another order at 91.6 (or close) after his current order gets exhausted.
For now his order is a great opportunity to dump your BTC if you feel bearish. After this, the price may slowly decline.
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myself
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Merit: 1000
chaos is fun...…damental :)
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July 22, 2013, 09:50:07 PM |
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myself
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chaos is fun...…damental :)
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July 22, 2013, 09:59:48 PM |
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ChartBuddy
Legendary
 Online
Activity: 2296
Merit: 1801
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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July 22, 2013, 10:01:28 PM |
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crumbs
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July 22, 2013, 10:04:18 PM |
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Oh please!  |
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wachtwoord
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July 22, 2013, 10:04:44 PM |
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I said half of it. http://en.wikipedia.org/wiki/GoldThe world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. I guess wikipedia should check their sources ha? Btw investment is 40%, I think that includes "pure gold rings" That's consumption of new gold coming out of the ground. I'm talking percentage of market capitalization. 5-10% is about right. |
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ElectricMucus
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July 22, 2013, 10:12:16 PM |
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I said half of it. http://en.wikipedia.org/wiki/GoldThe world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. I guess wikipedia should check their sources ha? Btw investment is 40%, I think that includes "pure gold rings" That's consumption of new gold coming out of the ground. I'm talking percentage of market capitalization. 5-10% is about right. I would say that ratio remained more or less constant over time. So it should be equal to market capitalisation. Or are you including gold that hasn't even been mined yet? |
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wachtwoord
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July 22, 2013, 10:14:19 PM |
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I said half of it. http://en.wikipedia.org/wiki/GoldThe world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. I guess wikipedia should check their sources ha? Btw investment is 40%, I think that includes "pure gold rings" That's consumption of new gold coming out of the ground. I'm talking percentage of market capitalization. 5-10% is about right. I would say that ratio remained more or less constant over time. So it should be equal to market capitalisation. Or are you including gold that hasn't even been mined yet? I wasn't. I have no data though, making my argumentation weaker. But most of the worlds gold lies in the form of bars in huge vaults doesn't it? Do you have any figures? |
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Spekulatius
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Activity: 1022
Merit: 1000
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July 22, 2013, 10:16:53 PM |
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Maybe this is indeed a " Decision maker". In fact Mr. 91.6 USD Wall may want to provoke a clear decision where price wants to go. If it goes down, he sells, if it goes up, he buys? |
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ElectricMucus
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Marketing manager - GO MP
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July 22, 2013, 10:23:50 PM |
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I said half of it. http://en.wikipedia.org/wiki/GoldThe world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry. I guess wikipedia should check their sources ha? Btw investment is 40%, I think that includes "pure gold rings" That's consumption of new gold coming out of the ground. I'm talking percentage of market capitalization. 5-10% is about right. I would say that ratio remained more or less constant over time. So it should be equal to market capitalisation. Or are you including gold that hasn't even been mined yet? I wasn't. I have no data though, making my argumentation weaker. But most of the worlds gold lies in the form of bars in huge vaults doesn't it? Do you have any figures? Well you said it. There are various figures the problem is most of it is distorted depending on where you look. That is actually one of the few advantages Bitcoin has over Gold, you know how much there is of it. To be honest I don't find this debate very fruitful, at least you give back respectful answers but I was kind of dragged into this and don't really care that much about gold. My point concerned the similarity with bitcoin, or lack there of which I say is closer correlated with Rhodium, which you can see in another thread. |
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Spekulatius
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July 22, 2013, 10:29:52 PM |
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It wouldnt suprise me if both walls would belong to the same owner  |
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Spekulatius
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July 22, 2013, 10:40:52 PM
Last edit: July 22, 2013, 11:19:29 PM by Spekulatius |
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@all: How good is the signal produced by one wall bought in this case? In other words: Would you buy/sell depending on the outcome of this stand off?
I would discount the event in which one wall would get pulled before substantially reduced by executed orders as a valid signal. So one wall HAS to be bought for this to have any meaning to me.
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