Gold n' Silver???

[fourteenandoh]

bump. hit 1000 bucks an ounce again on friday. any opinions on all the buy gold commercials on TV? sure seems to be hot right now.

I am getting into actual trades. i am just starting into bullions and bars

still long?

I ask because it is a heavy product. Shipping would increase the cost. Large quantities could also pose a storage problem. There is a market for the product, however not as fluid as the fixed/equity markets. I would think corruption/ folks taking advantage of the "average joe" woudl occur (a person has access to the spot market, purchases the product and immediatley sells it to the average joe at a higher price... if the average joe didn't have access to spot prices they wouldn't know they were being taken advantage of).


NYB,

Sounds like it keeps up with inflation... never increased buying power (although over the last couple of years prices have been on a tear... very much outpacing inflation ). Long term it seems like a good treasury alternative...

i've heard over a long time of history gold loses about .2% per year. i have had it explained to me by gold bugs that they look at it like owning an insurance policy against hyperinflation or gov't meltdown. maybe it is time to collect on that policy??

 

[Muck]

maybe it is time to collect on that policy??

That's a thought I've been having lately.

I bought a decent amount of gold in the late 90's when it was < $300 oz.

 

[Jake]

I bought gold several years ago. It was about $400 an ounce at the time.

I see/hear people talking about selling it but with our government tossing around trillions of worthless paper dollars seemingly every day the idea of converting gold into cash doesn't appeal to me. I'm hanging onto it.

 

[DaytonBuck]

A year ago I would have probably never considered investing in precious metals but the idea is more appealing now

 

[Thump]

I would sell the metals now and put the money into a CD or something b/c whenever the economy turns around, the gold prices will drop like a lead balloon.

 

[fourteenandoh]

The New California Gold Rush | NBC Los Angeles

 

[Gatorubet]

I bought Fidelity Select Gold FSAGX on September 30th, the day after Wachovia announced it was toast, and I finally got it in my head that the bad shit was really bad shit, and was finally sufficiently brave/scared enough to check on my retirement holdings. My Keogh had lost about 44% of its pre-market crash value due to my brilliant self direction. I got burned by the Hunt brothers in the mid 80s buying silver (I used two silver bars for dumb bells for a couple years, then law school made me sell them), but I figured the gold bugs would come out yelling with the bad market news. So I bought the gold fund at $18.09. Today it closed at $34.89, and I am almost back to where I was a year ago.

Now, when to sell?

 

[fourteenandoh]

Now, when to sell?

that's easy. sell it right before it turns around and goes back to $18

 

[Gatorubet]

that's easy. sell it right before it turns around and goes back to $18

Nah man, I historically buy high an sell low.

But it was you and 'Bus spilling on the Wall Street performance thread that week, with banks going down in flames and you relaying rumors of the raid on Goldman being a possible terrorist attack, y'all got me spooked enough to go all in on gold.

I owe you at least a cold one my brother.

 

[fourteenandoh]

Nah man, I historically buy high an sell low.

But it was you and 'Bus spilling on the Wall Street performance thread that week, with banks going down in flames and you relaying rumors of the raid on Goldman being a possible terrorist attack, y'all got me spooked enough to go all in on gold.

I owe you at least a cold one my brother.

glad i could help

 

[Gatorubet]

You did. Now, instead of forty dollars in retirement savings, I have 80 and a story.

 

[Jake]

I bought gold several years ago. It was about $400 an ounce at the time.

I see/hear people talking about selling it but with our government tossing around trillions of worthless paper dollars seemingly every day the idea of converting gold into cash doesn't appeal to me. I'm hanging onto it.

Still hanging onto it, and will for the foreseeable future.

The Fed's recent announcement that they're going to buy $300 billion in Treasury notes will further weaken the dollar. Inflation anyone?

Apparently, the fact that this sort of strategy failed in the 1960s is lost on the Fed of today.

 

[jimotis4heisman]

I bought Fidelity Select Gold FSAGX on September 30th, the day after Wachovia announced it was toast, and I finally got it in my head that the bad [censored] was really bad [censored], and was finally sufficiently brave/scared enough to check on my retirement holdings. My Keogh had lost about 44% of its pre-market crash value due to my brilliant self direction. I got burned by the Hunt brothers in the mid 80s buying silver (I used two silver bars for dumb bells for a couple years, then law school made me sell them), but I figured the gold bugs would come out yelling with the bad market news. So I bought the gold fund at $18.09. Today it closed at $34.89, and I am almost back to where I was a year ago.

Now, when to sell?

thats an easy one. well break the contract since its "inappropriate" and seize the assests since its a "systemic risk" then you wont have to worry about it!

You did. Now, instead of forty dollars in retirement savings, I have 80 and a story.

you do not listen. this is not a time for bonuses or profits!

 

[fourteenandoh]

Still rolling on to new highs. The stock market recovery seems to be fueling the gold rally more than harming it. We are pretty much seeing every single asset rise in value right now. gold, silver, stocks, corporate bonds, treasury bonds etc.

 

[THEWOOD]

dollar keeps getting weaker....