Yes we may go a little lower, but if we have not hit $1,000 by August I reckon the bottom is in..buy gold coins or your favorite gold stock. $5,000 per ounce is in the bag over next 3 - 5 years..(don't forget to sell though)
itsimpossible: Yes we may go a little lower, but if we have not hit $1,000 by August I reckon the bottom is in..buy gold coins or your favorite gold stock. $5,000 per ounce is in the bag over next 3 - 5 years..(don't forget to sell though)
buy more junk silver, the poor man's gold......... at least you'll be able to easily buy a chicken for four-thousand pre-65 U.S. quarters next year
galrads: buy more junk silver, the poor man's gold......... at least you'll be able to easily buy a chicken for four-thousand pre-65 U.S. quarters next year
I've never invested in gold and I doubt I ever will. I sort of agree with galrads about silver though. Silver has a big advantage over gold in that it has a very broad commercial use as opposed to gold which is just a pretty color and is rare. Having said that I read recently that it's probably a better idea to buy miners instead of metal. I wouldn't do that either btw.
itsimpossible: Yes we may go a little lower, but if we have not hit $1,000 by August I reckon the bottom is in..buy gold coins or your favorite gold stock. $5,000 per ounce is in the bag over next 3 - 5 years..(don't forget to sell though)
short term buy - yes. long term - very cautious.
right now its just a reaction from the chinese demand for gold last month. in reality prices dropped yesterday. and it did loose 2.9 percent in march (reaction of the announced improved U.S. economy??-- but there is no "improved economy" anywhere).... also take a look on the new taxes on gold..
2girlsnocupunknown, Greater London, England UK2,621 posts
ooby_dooby: I've never invested in gold and I doubt I ever will. I sort of agree with galrads about silver though. Silver has a big advantage over gold in that it has a very broad commercial use as opposed to gold which is just a pretty color and is rare. Having said that I read recently that it's probably a better idea to buy miners instead of metal. I wouldn't do that either btw.
You couldn't be more wrong if you tried. Gold is used in many trades, from dentistry to aerospace.
galrads: For sake of argument, silver prices are still artificially depressed. Silver uses haven't changed since the following article was written in 2006.
take a look in this article: "Equity market more suicidal in 2014 than 2000 or 2007" - by Danielle Park
"For any of us that hoped people might have learned a little wisdom or self-preservation bias from the pain of the last two equity market implosions…we would be wrong. Emboldened by taxpayer bailouts, market participants heading into March were more highly levered than at any other time since this secular bear began in in 2000 (red line below)."
"Amazing, but not surprising to see, that after trillions of dollars tossed into the banks (money that was desperately needed in infrastructure, energy, education, food and water management, etc) market participants today have less net equity at the end of February than ever before, graphed here by dshort.com."
We can all thank central banks and Wall Street-subservient politicians for all they have done in helping to prolong and magnify the most unfavorable, dangerous investment climate in history.
Bogart_1960: take a look in this article: "Equity market more suicidal in 2014 than 2000 or 2007" - by Danielle Park
"For any of us that hoped people might have learned a little wisdom or self-preservation bias from the pain of the last two equity market implosions…we would be wrong. Emboldened by taxpayer bailouts, market participants heading into March were more highly levered than at any other time since this secular bear began in in 2000 (red line below)." "Amazing, but not surprising to see, that after trillions of dollars tossed into the banks (money that was desperately needed in infrastructure, energy, education, food and water management, etc) market participants today have less net equity at the end of February than ever before, graphed here by dshort.com."
We can all thank central banks and Wall Street-subservient politicians for all they have done in helping to prolong and magnify the most unfavorable, dangerous investment climate in history.
still believing in magic?
I want to believe that we'll see economic recovery accelerate in the remainder of this year. I hope equity investors cease ignoring reality.
Thank you for correcting my error. You are right, gold has many uses. Silver and gold differ in one major way though. Virtually all gold is recycled and can be melted down and made into anything else. Gold teeth can be made into jewelry gold coins can be made into teeth etc. It wouldn't surprise me if there is more gold in the possession of humans today than at any time in history basically because gold almost never goes away. Silver on the other hand is consumed and can't be recycled economically the way gold can, therefore the supply of silver is under constant pressure and must be continually mined.
itsimpossible: What price would gold need to be to back US dollars in circulation?
And not all gold bars (u.s. Gov. held) are of the same composition. I'd buy more gold today if it was presently selling for around $950.00 per Troy ounce.
lifeisadreamMexi Go, Mexico State Mexico16,713 posts
itsimpossible: Yes we may go a little lower, but if we have not hit $1,000 by August I reckon the bottom is in..buy gold coins or your favorite gold stock. $5,000 per ounce is in the bag over next 3 - 5 years..(don't forget to sell though)
Not an expert on the trading of gold but it would be wise to check its "futures" and monitor the way they do and then decide what to do.
"..Gold prices will bottom in 2014 before returning to a record within five years as weaker equities spur demand for a haven and physical buying from Asia strengthens, according to asset manager Pecora Capital LLC."
Golden is used in computer chips and other elements/machines because is the best metal conductor (after copper) but without reacting to exterior humidity or other factors.
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Yes we may go a little lower, but if we have not hit $1,000 by August I reckon the bottom is in..buy gold coins or your favorite gold stock. $5,000 per ounce is in the bag over next 3 - 5 years..(don't forget to sell though)