Gold?
#1
Gold?
OK, so we have a bunch of money in some investments, but have been seriously considering pulling them out and buying some gold.
Seems like a smart move, no? Now for the dumb part of this topic... how does one buy gold and where does one keep it? It's not like I can walk into the bank and buy gold... right?
TIA
Seems like a smart move, no? Now for the dumb part of this topic... how does one buy gold and where does one keep it? It's not like I can walk into the bank and buy gold... right?
TIA
#5
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Well, all except for the "Buy Low; Sell High" theory of investment.
Gold is pretty high right now, although it's off it's all time peak from spring 2008. Historically gold has rarely cost more than it does right now today. And all of those times were in 2008.
The question is will it continue to hold that value and/or increase more than other options. History says it is unlikely, but then again a modern global mega-recession was historically pretty unlikely too.
Also if those "other investments" are at or near a bottom, you're might be shooting yourself in the foot twice (once Selling (other stuff) Low than again when you Buy (gold) High).
BTW - I'd think a commodities broker would work for gold as well. If you want he Physical thing, buy Canadian Maple Leafs, Kruggerands or the US version (Liberty or Double Eagles or something; 1oz coins 0.9999 percent pure)
Last edited by Bearcat94; 01-30-2009 at 03:26 PM.
#6
Iro Ridg .308
Well, all except for the "Buy Low; Sell High" theory of investment.
Gold is pretty high right now, although it's off it's all time peak from spring 2008. Historically gold has rarely cost more than it does right now today. And all of those times were in 2008.
The question is will it continue to hold that value and/or increase more than other options. History says it is unlikely, but then again a modern global mega-recession was historically pretty unlikely too.
Also if those "other investments" are at or near a bottom, you're might be shooting yourself in the foot twice (once Selling (other stuff) Low than again when you Buy (gold) High).
Gold is pretty high right now, although it's off it's all time peak from spring 2008. Historically gold has rarely cost more than it does right now today. And all of those times were in 2008.
The question is will it continue to hold that value and/or increase more than other options. History says it is unlikely, but then again a modern global mega-recession was historically pretty unlikely too.
Also if those "other investments" are at or near a bottom, you're might be shooting yourself in the foot twice (once Selling (other stuff) Low than again when you Buy (gold) High).
...gold had a run-up, true, but it's at a dip right now. Also keep in mind these are unprecedented times. In the history of the USA, there has been NOTHING close to what's happening currently.
If you're asking yourselves the questions that you are stating above, I would highly recommend taking a PERSONAL RISK ASSESSMENT test or questionnaire. Bottom line, everyone is different.
I don't deal in gold directly, but I'll post links where you can call should you decide to take that route. I'll get them up sometime over the weekend......no time right now.
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#8
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Gold has been climbing slowly but steadily since aorund 2004. Lately it has not had a "run up", it's had a spike. And I wouldn't call $75 off of a $1000 peak a "dip" especially considering that it has been very volatile the past several months.
IOW - might be a good day to speculate, but not necessarily to invest.
At the previous Spike, it dropped back but held most of it's value and then continued to climb slowly, but did not get back to it's Spike price. That leads up to the recent Spike.
EXCEPT for the fact of these "unprecidented times" which I acknowledged in my post. Even then, you might end up worse off than you start (i.e Buy today at ~$925 and get out at less sometime in the future).
#11
Go Giants
No Mr. T pics yet?
#12
The sizzle in the Steak
#13
Iro Ridg .308
Gold has been climbing slowly but steadily since aorund 2004. Lately it has not had a "run up", it's had a spike. And I wouldn't call $75 off of a $1000 peak a "dip" especially considering that it has been very volatile the past several months.
IOW - might be a good day to speculate, but not necessarily to invest.
At the previous Spike, it dropped back but held most of it's value and then continued to climb slowly, but did not get back to it's Spike price. That leads up to the recent Spike.
EXCEPT for the fact of these "unprecidented times" which I acknowledged in my post. Even then, you might end up worse off than you start (i.e Buy today at ~$925 and get out at less sometime in the future).
IOW - might be a good day to speculate, but not necessarily to invest.
At the previous Spike, it dropped back but held most of it's value and then continued to climb slowly, but did not get back to it's Spike price. That leads up to the recent Spike.
EXCEPT for the fact of these "unprecidented times" which I acknowledged in my post. Even then, you might end up worse off than you start (i.e Buy today at ~$925 and get out at less sometime in the future).
#15
Go Giants
#17
in the stock market just do ticker GLD... its an etf (exchange traded fund) for gold.
or if you want a basket of gold miners, GDX.
David Einhorn's greenlight capital ($5 billion hedge fund) recently added both: http://www.marketfolly.com/2009/01/p...-einhorns.html
or if you want a basket of gold miners, GDX.
David Einhorn's greenlight capital ($5 billion hedge fund) recently added both: http://www.marketfolly.com/2009/01/p...-einhorns.html
#18
Like any other investment, that's the risk you take. If you believe in the system that's in place, no problem, keep on doing whatever you doing but what happens if the dollar crashes or significantly devalues? If you like being caught with your pants down, then there's nothing I can say to change your mind otherwise. I don't mind risk losing some dollars if it helps me to sleep better at night.
#19
Drifting
I'm investing in SLV i-shares instead because Silver is outperforming Gold and probably will for the foreseeable future. This trend started in early December and is continuing now. SLV ishares are trading at 12.52 today up .26 or 2.12% in -2.28% SP500 day. GLD closed at $91.81 up 1.81 or 2.02% for the day. GLD once again under-performed SLV with today being another example.
#20
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Like any other investment, that's the risk you take. If you believe in the system that's in place, no problem, keep on doing whatever you doing but what happens if the dollar crashes or significantly devalues? If you like being caught with your pants down, then there's nothing I can say to change your mind otherwise. I don't mind risk losing some dollars if it helps me to sleep better at night.
I was thinking from a "traditional" investment stand-point.
As a "hedge" or a kind of personal liquid asset, in these uncertain times, you are correct.
#21
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Traditional thinking would have you think its a bad time to buy gold. But if things get worse maybe its not too late
I bought mine a few years ago and I sure don't regret it in the least!
I bought mine a few years ago and I sure don't regret it in the least!
#22
I'm not completely about how aquiring gold, but depending on how much gold you bought as well as how much they (box) cost, you could always store it in a security/safe box at your bank, right?
#23
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#25
Iro Ridg .308
I'm investing in SLV i-shares instead because Silver is outperforming Gold and probably will for the foreseeable future. This trend started in early December and is continuing now. SLV ishares are trading at 12.52 today up .26 or 2.12% in -2.28% SP500 day. GLD closed at $91.81 up 1.81 or 2.02% for the day. GLD once again under-performed SLV with today being another example.
In the last 3-4 weeks, I've allocated my discretionary income available for purchase of hard assets almost entirely to silver. Paper assets maybe easier to get in and out of, but I ain't touching em'. But that's just me.
#26
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#27
Drifting
I bought $1000 face value back in 1994 for around $2800. That investment now is worth around 10K. You essentially get 2 large bags of coins, mostly quarters and dimes.
Here's a link for anyone interested: http://news.silverseek.com/GoldIsMoney/1212338328.php
#28
Three Wheelin'
iTrader: (1)
I was doing some research to sell some gold when i came across this forum:
http://goldismoney.info/forums/index.php
It got me wanting to dump some $$ into PMs (Precious Metals) but not at this time. I have an 8oz 24k gold chain that i want to sell since gold is so high, and then hopefully buy back some coins/plates when the price drops back down again. I've been watching the gold prices go up from the $700s to about now but never considered buying (up till now).
Buy from here:
http://www.apmex.com/
http://goldismoney.info/forums/index.php
It got me wanting to dump some $$ into PMs (Precious Metals) but not at this time. I have an 8oz 24k gold chain that i want to sell since gold is so high, and then hopefully buy back some coins/plates when the price drops back down again. I've been watching the gold prices go up from the $700s to about now but never considered buying (up till now).
Buy from here:
http://www.apmex.com/
#29
Unofficial Goat
iTrader: (1)
I was doing some research to sell some gold when i came across this forum:
http://goldismoney.info/forums/index.php
It got me wanting to dump some $$ into PMs (Precious Metals) but not at this time. I have an 8oz 24k gold chain that i want to sell since gold is so high, and then hopefully buy back some coins/plates when the price drops back down again. I've been watching the gold prices go up from the $700s to about now but never considered buying (up till now).
Buy from here:
http://www.apmex.com/
http://goldismoney.info/forums/index.php
It got me wanting to dump some $$ into PMs (Precious Metals) but not at this time. I have an 8oz 24k gold chain that i want to sell since gold is so high, and then hopefully buy back some coins/plates when the price drops back down again. I've been watching the gold prices go up from the $700s to about now but never considered buying (up till now).
Buy from here:
http://www.apmex.com/
#31
I feel the need...
Sprott Says U.S. Depression Will Boost Gold Price
Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.
Bullion may top $2,000 an ounce in coming years amid a series of financial catastrophes, the chairman and founder of Toronto-based Sprott Asset Management Inc. said yesterday in an interview. Banks will battle to replenish capital, Treasury auctions stand the risk of failing and the moribund economy will create a dire operating outlook for many companies, he said.
“The trend is down, and there’s not one signpost that says it’s changing yet,” Sprott said yesterday from Toronto. “We’ll stand by to wait to see those, and until it does, you have to assume it gets worse.”
Sprott, who manages $4.5 billion, said in March that the world was in a “systemic financial meltdown,” a call that presaged the collapse of financial institutions including Bear Stearns & Co. and Lehman Brothers Holdings Inc. Since then, the U.S. has entered the worst economic slowdown since the Great Depression, credit markets have tightened and asset prices have dropped as companies and funds sell portfolios to raise cash.....
Bullion may top $2,000 an ounce in coming years amid a series of financial catastrophes, the chairman and founder of Toronto-based Sprott Asset Management Inc. said yesterday in an interview. Banks will battle to replenish capital, Treasury auctions stand the risk of failing and the moribund economy will create a dire operating outlook for many companies, he said.
“The trend is down, and there’s not one signpost that says it’s changing yet,” Sprott said yesterday from Toronto. “We’ll stand by to wait to see those, and until it does, you have to assume it gets worse.”
Sprott, who manages $4.5 billion, said in March that the world was in a “systemic financial meltdown,” a call that presaged the collapse of financial institutions including Bear Stearns & Co. and Lehman Brothers Holdings Inc. Since then, the U.S. has entered the worst economic slowdown since the Great Depression, credit markets have tightened and asset prices have dropped as companies and funds sell portfolios to raise cash.....
^^ I've followed these guys for about six years - they are a boutique shop based out of Toronto. They turned me on to oil before the run up and influenced some of my positioning on a personal basis. I thought they were overly pessimistic about the resiliency of the US economy and even though I was bearish on the economy because of the housing/credit bubble -- in hindsight clearly I wasn't bearish enough!
#32
trill recognize trill
y not platinum while ur at it, its almost at the levels as gold is and history has shown at times of recession or depression platinum is hit hard. Mainly because car manufacturers are a big consumer of it, and once things pick back up, it can easily be double the value of gold like it used to be.
#33
Unofficial Goat
iTrader: (1)
y not platinum while ur at it, its almost at the levels as gold is and history has shown at times of recession or depression platinum is hit hard. Mainly because car manufacturers are a big consumer of it, and once things pick back up, it can easily be double the value of gold like it used to be.
#37
Go Giants
How is silver doing?
#39
Go Giants