I bought gold this Tuesday and gold is a little cheaper today , I lost money?

I bought 1015 Mexican Pesos, ( like 45 Euros) Gold value was 844 pesos per gram, now is 800 pesos, so my vault value is now 962 , is not a big loss , but I'm concerned I could continue having less value. Should I buy in another currency? I saw MXN is -1.51 in red numbers, and other currencies have positive numbers.

Comments

  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @jphm95

    B) Gold is gold. The fact that some currencies are green while others are red just shows that it is the value of the currency fluctuating against gold (and other currencies).

    Choose GAU* as your currency and you won't see the fluctuations. Your gold grams will be constant until you deposit or redeem.


    * GAU = gAu = grams Au = grams gold
  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    edited January 2017
    jphm95 - The dollar value of gold is highly volatile, so it's normal to see big swings in price. 10 year price chart in many currencies show gold at 100%+ gain. What happens when the dollar value of gold increases has no reflection on gold's inherent value (as 79Au197 is stating); what is actually happening is paper money is getting weaker. Just wait for trade wars to happen in the US, along with a stock market crash, Canada looking for new trading partners, technology replacing jobs, maybe even Trump's team integrating hard assets into a failing USD, and so much more... gold is more valuable than ever, since it protects against inflation, and even capital controls which can be expected when the central banks fail. Derivatives are over 600 trillion now and it's only a matter of time before the fumes that USD is running on run out. We could see the gold price at $10,000 an ounce easily as it should be priced around that right now - but it doesn't necessarily mean it has more purchasing power. There are big powers that have been suppressing the price and people won't believe how cheap they could have bought it at once they see gold or silver at money supply level pricing. Frankly if gold is money and not just a commodity, you can divide the amount of money in circulation with the amount of gold produced and calculate a real gold value, which will give you a new appreciation and totally disregard volatility even at 100%.

    Stare at http://www.usdebtclock.org for a while, you can start to put the pieces of the puzzle together. Check the bottom right.
  • PowerlunchmoneyPowerlunchmoney Posts: 274 Bronze ✭✭✭
    edited January 2017
    During Brexit vote, the price of gold went through the roof. Same goes for the presidential elections in the US. Hell, just wait for Trump to get back on his twitter feed for cues. He's said the American dollar is too strong, so likely plans on devaluing it at some point. Any action toward the Fed could be another moment. Or wait for another country to vote to leave the EU like perhaps France. Maybe its political unrest in Mexico. I'm accumulating gold for these moments.
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