gold ... but the exchange rate?

Discussion in 'Economics' started by maxitronixy, Sep 21, 2009.

  1. say gold goes to $1300. or maybe 1200.

    but i don't come from the US, if i were from the US i would be buying gold... however if gold is denominated in us dollars and i use another currency, doesn't it even out or negate buying gold if the currency im using to buy gold appreciates aganist the US dollar?
  2. Yes.

    You need to look at the price of gold in the currency you are referring to.
  3. btw how do i roughly calculate whether's it's worth buying?
    does this apply for gold futures if it's leveredged?

    it's about 5k US to buy a 100 ounce contract
  4. ok. This is the third time that I've asked this question.

    You arrive in any country in the world with a gold bar. Now where do you go to get the spot price for it?

    Surprise me with the correct answer.
  5. Yep...take for example gold vs euro when compared to USD.

    On 9/4/09 gold vs dollar was $982 per oz

    On 9/4/09 gold vs euro was 688 per oz

    On 9/20 gold vs dollar was $1008 per oz
    on 9/20 gold vs euro was 686 per oz

    So as gold went up $26 per oz in USD, it went down 2 euros per oz in their currency.
  6. In the USA, Cash-4-Gold.
    In a spanish-speaking country, Dinero Para Oro. :cool:
  7. Nazz are you claiming that they will give you the spot price?
  8. Tester


  9. No. :)
  10. I have never been able to understand GoldBugs, is it for the money or simply lacking a religion to follow ? :confused:
    #10     Sep 21, 2009