Anyone here invest in gold?

[4fortyDemon]

Whenever I'm sitting on a stock waiting for it to top out all the time knowing that it could tumble at any time I sell off half. In your case I'd sell off half the gold then wait for a couple weeks for the last half.

Thanks Demon- I was contemplating the same thing. 1/2 off then see what happens. I know that ..what a month ago it topped out over $1400 and now it's what, mid 1300's? It seems to me that the borrowing rate is creeping up so gold would historically drop.

 

[POS Dakota]

Gold is not necessarily a tool to make money. Gold is a tool to preserve wealth.
It's an asset. If you have a 1400 dollar gold asset and the dollar loses half it's value, it will take 2800 dollars to buy the same ounce of gold.

Paper money has no value unless people believe it does.
Gold will always have value.

And if the dollar crashes you will be able to redeem that gold for whatever currency is being used as an alternative. You may or may not make a profit, but you won't be fucked is the whole jist.

 

[dustoff440]

Gold is not necessarily a tool to make money. Gold is a tool to preserve wealth.
It's an asset. If you have a 1400 dollar gold asset and the dollar loses half it's value, it will take 2800 dollars to buy the same ounce of gold.

Paper money has no value unless people believe it does.
Gold will always have value.

And if the dollar crashes you will be able to redeem that gold for whatever currency is being used as an alternative. You may or may not make a profit, but you won't be fucked is the whole jist.

If it ever gets really,really bad I will trade some of my hoard of seeds for a bar of gold and teaching them to grow,,,,,,it's great to have gold but you can't eat it.
What is reported in unemployment is not even half of the real figure. Food stamp application is up over 200 percent over last year in our county.

 

[RustyRatRod]

Gold is not necessarily a tool to make money. Gold is a tool to preserve wealth.
It's an asset. If you have a 1400 dollar gold asset and the dollar loses half it's value, it will take 2800 dollars to buy the same ounce of gold.

Preserve wealth from what? Gold is totally worthless at this point in time. Can you make your house payment with it? Can you put gas in your tank with it? Can you feed your family with it? No. There are no "buts" the answers to all these questions is no.

Paper money has no value unless people believe it does.
Gold will always have value.

Because people believe it does. People value gold. No people, no value.

And if the dollar crashes you will be able to redeem that gold for whatever currency is being used as an alternative. You may or may not make a profit, but you won't be fucked is the whole jist.

Says who? You just look at the expression on the face of a cashier at the wally world when you chunk a piece of gold up there as payment. Gold didn't rule in 1929 and it won't rule now.

 

[cudavert]

I agree with a lot of what's been said here. Actually, I've heard that silver has more uses than gold in the real world. However, if there is a giant public panic in the not-so-distant future (world stops buying U.S. debt or loss of confidence in the ability to pay back) who knows what the value of gold may jump up to! I read that China has been a black hole for buying up gold.

I suspect that gold will eventually go quite a bit higher. The reason being.....is that I can't imagine a time when the U.S. WON'T be deficit spending like crazy! I also thought I read that...inflation-adjusted, we haven't hit the prices that we had in the late 70's for gold.

 

[johnyharman]

Gold and Silver are very useful in now-a-days technology, Especially in electronics field. Some of these metals are found from the earth's surface, used as coins at the beginning of money. Before invest in gold we must go through the portfolio of the mutual fund companies or banks. Many companies provides long term and short term mutual funds. Invest in well managed and diversified equity funds. Gold is an asset.

 

[jdakota]

15 Trillion in national debt. 100%+ of GDP. The easy way out for the government is to inflate their way out by printing money. When the Fed prints money, your dollar loses value.

That's why people buy Gold/Silver. It's a fixed commodity.

Central Fund of Canada (CEF) is a good way to own gold and silver without having it delivered to your door. Also, it's not an ETF. If you buy an ETF, you're going to pay the Luxury Tax rate of 28% when you sell (unless you buy/sell inside your IRA). CEF will be taxed at the 15% capital gains rate. Check it out.

As always, there are different opinions about what to buy and when. If we had all the answers, the beach would be crowded with people sipping Margaritas.
Hope this sheds some light.

Good Luck.

 

[805moparkid]

Could be, BUT as the world economy continues to go DOWN, gold will continue to rise.......HOWEVER, Silver is the better investment.......Since China has legalized private ownership, the market continues to grow while supply is very limited and production costs are high........

Example......If you had bought a "Monster Box" of American Eagles (silver) one year ago (appx. $7500. investment), it's worth $15,500. today..(wholesale, that is...you can sell it for nearly $18K retail)....and it is FAR from peaked due to low supply and HUGE demand.......shortages all over the world because it's a major industrial metal AND the world standard for hedging against inflation.

Converting as many dollars as possible over to silver bullion right now could prove to be a major life-saver.

im not a fan of bullion... i have all mine (about 20 gold coins, all MS-64 certified, and about 25 lbs in silver coins, yea lbs) all in pre-33 numismatic coins...

 

[805moparkid]

and also gold set a new floor around the beginning of the year, somewhere above 1600 if i remember correctly... so it can only go up...

if you gonna buy go for silver... unless you bought gold in the 90's like i did it not a very good return... but silver on the other hand still has a HUGE return coming... and is cheap and easy to get into...

 

[Dartman1969]

I feel that buying gold at this point is like buying a house in 2007.

I could be wrong but buying at a record high is a huge risk.

You could be wrong but I think your right!!! I can tell you that in late 1979 my dad invested HEAVILY in silver at $12 an ounce. He watched as silver increased in price. In January of 1980 silver was selling for over $49 an ounce and instead of selling he sat on it thinking it had not peaked. Little did he know that by the end of February of 1980 silver would drop to $11 an ounce. He still has that silver and watching the market closely.

~Michael

 

[vaz316]

i buy and sell gold and silver for a living for over 20 years if you want to know anything pm me and ill give you info on whatever you need to know. For anyone reading this the only gold you should buy are 1 oz gold coins us or canada even kuggerands and nuggets are okay but the us gold eagles (not proof) are the easiest to sell when your ready and you will get paid the most when you sell them off. I agree silver always seems to have the greatest upside but it also cant hold its value very long. In fact last year when silver hit 50 per ounce again, the rules on the Comex were changed 7 times in 8 days and long story short it made the price drop 17 dollars per ounce in 10 days so its like anything else in this economy all lies made up numbers that dont mean squat todays price could be nothing by next week. Gold has always been the long term investment and at its present level of 1650 or so per ounce it appears to be again. Just one year ago though it was 1950 per ounce and hasnt recovered yet either but it probably is a good time to buy it. Any memeber is welcome to pm me if you really want to know whats up how much you will have to pay for it where to get it but please only pm if your serious I have 2 68 dart projects to finish and the weather is getting more permitting everyday here in new england lol

 

[airwoofer]

I like APMEX and have traded with them on the buy abd sell side. Kitco not so good. Local cash dealer, if the prices are good - the best as there is no record. I like US eagles and Canadian maple leafs in .9999 purity. As for silver, eagles and good quality bars. My next bars will be .9999 Royal Canadian Mint. LOL, I know a guy who bought a new Mustang and used a 100 oz bar as the down payment. Silver was $46 at the time and they credited him $4600 - it was good timing but a $50K car???

I would stay away from the miners. Same for the ETFs SLV and GLD tyhose are rigged and probably stuffed with IOUs instead of thereal metals as they also lease out the stocks. Run by bankster crooks. CEF is good.

 

[pastortom1]

Let me just state this.........relative to being able to make "payments" and buy stuff with gold or silver........

There are coin shops in nearly every community in the country these days that buy and sell on the spot.....it takes an extra 5 minutes out of your day to sell some metal so you can go to the store........

Let me ask......What has been the basis of "currency" since recorded history? The answer by and large is precious metals. It's not just worth cash because somebody says it is.......it is the BASIS of wealth around the world, and always has been UP UNTIL modern times when they went OFF the standard.

Got a 401K ?? SOON it ain't gonna be worth the web page it appears on, unless it's invested in precious metals. IRA ? Stocks ? Bonds ? Savings and CD's ? The same will be true, and much sooner than you think.

Some people believe that in the depression, people with gold didn't fare well.....that's only true because of the federal confiscation of post 1933 gold......people had to take what the feds SAID they would get for it.......that's why I stress to investors to buy pre-33 gold if they're buying long term. People who had lots of silver did VERY well.

Hold yer' dollars if you want, but they're gonna be droppin' very soon, and BIG time......and Gold at $1600. is not a "bubble".......it's far undervalued when you look at the world debt crisis........soon, you won't be able to get it for 3 grand. And as I've said before, silver is VERY low historically. Keep in mind the 16 to 1 historic ratio.......silver should be selling at nearly $100. an ounce, BUT the markets are being manipulated by huge investors to keep it low.......but it can't stay low when the bottom falls out.......

Just don't let YOUR bottom fall out.

 

[MoparMuscleGuy]

I've been doing extensive research on precious metals and the demise of our Global economy. The Pastor is right with what he's telling everyone. Buy now, while you can still buy gold and silver with paper. I've been buying silver now because it is a bargain at these prices. If it goes lower than its a bigger bargain. Silver is far more rare than gold. Silver is being used up at an unsustainable rate and is expected to be the first element that will be extinct from the periodic chart of elements. BUY BUY BUY. MMG

 

[Bad Sport]

Lead

 

[805moparkid]

Some people believe that in the depression, people with gold didn't fare well.....that's only true because of the federal confiscation of post 1933 gold......people had to take what the feds SAID they would get for it.......that's why I stress to investors to buy pre-33 gold if they're buying long term. People who had lots of silver did VERY well.

Exactly!!!!! that what i was trying to say in my statement!

 

[64Vert]

I've bought all silver and it's all bullion, rounds and bars. Gold and silver have been real money for centuries. I started buying back in 2007 when I discovered Ron Paul and Peter Schiff, they also helped me rescue my 401K from disaster as they predicted the crash before it happened. Yeah you can't eat it but that's why you buy food too and add a lot of lead to protect em all.

 

[YY1]

Gold is valuable because it is "pretty".
Industrial gold (and other precious minerals), and generally worth much less.
I have some gold plated electronis (Intel processor collection since 186), that is worth Less than the gold on the contacts.

Anyone think oil is a valuable commodity?

My ownership of oil stocks pays 1/2 of my gasoline bill each month.
...and I don't have to sell anything to realize a return on investment.
All the while watching the overall value outpace inflation.
Now that's real value.

Anyone think prices will go down enough before the supply is exhausted to make it a bad investment?