Tell me about Gold?

[Otters27]

Not JJ but the metal AU

My uncle wants to dump all stocks in his 401 K and put it all into Gold

[gauchojake]

Otters don't mush gold goddamnit

[grease lightnin]

Otters don't mush gold goddamnit

Already done. Lol

[jjgold]

gold is risky

price crazy,,now it is ok but many have lost everything chasing it

[Sam Odom]

buy silver coins

[Optional]

Not JJ but the metal AU

My uncle wants to dump all stocks in his 401 K and put it all into Gold

What's his reasoning?

[Otters27]

What's his reasoning?

He says the stock market is going fall and gold will hit 2 k an ounce

[RudyRuetigger]

rather buy cows

if it comes down to it, people want food

[grease lightnin]

He says the stock market is going fall and gold will hit 2 k an ounce

How old is your uncle?

[jjgold]

Any commodity stay away from you'll get buried

[SharpAngles]

buy silver bullion

fyp

coins are rarely a good investment

silver and palladium are the ones with upside for shorter term and gold will always be king of long term holdings

[RudyRuetigger]

last I checked the macronutrients in gold suck

[Ghenghis Kahn]

if you're gonna get silver, i say go with american silver eagles.

you get more silver with bullion but when you're trying to sell them, it's a lot easier to sell silver eagles.

[Otters27]

How old is your uncle?

He is near 70

[The Kraken]

buy silver coins

Agree, but probably for differing reasons than you're recommending

I've been buying silver and gold coins for some time now, all with face value, Bullion has little to no value to me

Do not buy collectors coins, or mint condition coins, American Eagles are a GREAT investment, as well as a great hedge

Also a fan of Maple Leafs

[Snowball]

JJ is right.
Commodities suck. Stay away.
Sell your stocks, YES, by all means, but then
just sit on nothing until the next president takes office.
The FED controls 90% of all the money in the world,
they will do whatever they want unless a nuclear war
happens, in which case people won't care about gold.

[pavyracer]

I would buy bags of cement instead. Because when Trump starts building the wall the price of cement will skyrocket.

[Ralphie Halves]

Otters nobody else here knows anything about metals, as you can probably tell.

I trade gold, silver, platinum, palladium. Long term outlook, I don't know, but nobody else does either.

What I can tell you is that the price of gold in this country is measured against the dollar. Spot gold sitting at 1363 now. Let's say everyone's blind fear comes true and the dollar crashes, and gold goes to 5000. You're sitting on a ton of gold, you're set, right? Not really. You can now trade your gold in.........for a bunch of currency that isn't worth anything. Well done!

As far as a retirement investment, I think your uncle might be watching too many charlatans on TV. I can't find an image, but it's this doofus with two armed guards behind him that shows two stacks of money side by side, you've probably seen him. These commercials say things like, "if you bought gold in 2001 and sold in 2011, you'd have made blah blah blah blah". This gets people all excited because they think that they too can magically buy everything at the bottom and sell at the top. The commercials ignore what happened after 2011, and also ignore that nobody ever knows when things are going to bottom and top out. Shadiest commercials on TV.

401Ks are garbage, gold might be a better option, but not by much. Tell him to keep looking around.

[Ghenghis Kahn]

one thing is for sure, if you want precious metals, buy physical precious metals and not on a piece of paper.

[Ghenghis Kahn]

Otters nobody else here knows anything about metals, as you can probably tell.

I trade gold, silver, platinum, palladium. Long term outlook, I don't know, but nobody else does either.

What I can tell you is that the price of gold in this country is measured against the dollar. Spot gold sitting at 1363 now. Let's say everyone's blind fear comes true and the dollar crashes, and gold goes to 5000. You're sitting on a ton of gold, you're set, right? Not really. You can now trade your gold in.........for a bunch of currency that isn't worth anything. Well done!

As far as a retirement investment, I think your uncle might be watching too many charlatans on TV. I can't find an image, but it's this doofus with two armed guards behind him that shows two stacks of money side by side, you've probably seen him. These commercials say things like, "if you bought gold in 2001 and sold in 2011, you'd have made blah blah blah blah". This gets people all excited because they think that they too can magically buy everything at the bottom and sell at the top. The commercials ignore what happened after 2011, and also ignore that nobody ever knows when things are going to bottom and top out. Shadiest commercials on TV.

401Ks are garbage, gold might be a better option, but not by much. Tell him to keep looking around.

well if you bought silver at ~$15 an ounce or bought gold at ~$1100 an ounce, you got them at good prices.

can't go wrong with precious metals imo... especially this day and age.

[gauchojake]

buy guns so you can just take everyone else's gold imo

[Otters27]

Cool Thanks Guys for the Advice

[Ralphie Halves]

well if you bought silver at ~$15 an ounce or bought gold at ~$1100 an ounce, you got them at good prices.

Uhhh, yes. But if you're wondering what to invest in right now, that doesn't help you any.

Guys, if you have any desire to invest your money in any kind of equity going forward, learn technical analysis (chart reading). I had no idea when I was learning this for Forex that it would allow me to trade stocks, metals, and oil too at a high level of success -- but it's the one common language of investing. Don't be Mr. Last-To-Know barstool speculator like everybody else I hear who talks about investing -- throwing out useless buzzwords and parroting what some guy on TV said. None of those guys do well at all, ever. Educate yourselves. It's important.

Believe it or not, you already have an advantage being sportsbettors as far as how NOT to manage your money. My past betting history has taken my learning curve down a lot. There are some talented stock pickers out there who cut their wins short and ride their losses all the way to the bottom. Such a waste. If you knew how to do both, there's no telling how far you could go.

[unde0087]

Gold has always had value since the beginning of time. It will always hold value, unlike a currency from any country. I would say owning it would be a good thing.

[grease lightnin]

This is all your uncle needs to know. Gold was $1000/oz in 1980, and $250/oz in 1999.

Gold bugs always say that "gold will never be worth zero". Yes, but give me a time where the S&P was down 75% over a 20 yr period.

Tell your uncle there is nothing wrong with owning some gold, but to keep his position less than 10% of his investable assets.

Tell him to stay diversified. No sense in gambling with his retirement.

[jjgold]

Uhhh, yes. But if you're wondering what to invest in right now, that doesn't help you any.

Guys, if you have any desire to invest your money in any kind of equity going forward, learn technical analysis (chart reading). I had no idea when I was learning this for Forex that it would allow me to trade stocks, metals, and oil too at a high level of success -- but it's the one common language of investing. Don't be Mr. Last-To-Know barstool speculator like everybody else I hear who talks about investing -- throwing out useless buzzwords and parroting what some guy on TV said. None of those guys do well at all, ever. Educate yourselves. It's important.

Believe it or not, you already have an advantage being sportsbettors as far as how NOT to manage your money. My past betting history has taken my learning curve down a lot. There are some talented stock pickers out there who cut their wins short and ride their losses all the way to the bottom. Such a waste. If you knew how to do both, there's no telling how far you could go.

one of biggest keys is managing winners in stocks, ect

People do not do it

Better to trade currencies on CME exchange...trading on forex is not backed by anything and no options/derirvative market
The firms are not worth a ton either compared to CME

[gauchojake]

jj are you still trading binary options?

[Otters27]

gold dropped early but is making a comeback today

[jjgold]

jj are you still trading binary options?

no found out it was a suckers game..spreads too wide

[SharpAngles]

Otters nobody else here knows anything about metals, as you can probably tell.

I trade gold, silver, platinum, palladium. Long term outlook, I don't know, but nobody else does either.

What I can tell you is that the price of gold in this country is measured against the dollar. Spot gold sitting at 1363 now. Let's say everyone's blind fear comes true and the dollar crashes, and gold goes to 5000. You're sitting on a ton of gold, you're set, right? Not really. You can now trade your gold in.........for a bunch of currency that isn't worth anything. Well done!

As far as a retirement investment, I think your uncle might be watching too many charlatans on TV. I can't find an image, but it's this doofus with two armed guards behind him that shows two stacks of money side by side, you've probably seen him. These commercials say things like, "if you bought gold in 2001 and sold in 2011, you'd have made blah blah blah blah". This gets people all excited because they think that they too can magically buy everything at the bottom and sell at the top. The commercials ignore what happened after 2011, and also ignore that nobody ever knows when things are going to bottom and top out. Shadiest commercials on TV.

401Ks are garbage, gold might be a better option, but not by much. Tell him to keep looking around.

Uhhh, yes. But if you're wondering what to invest in right now, that doesn't help you any.

Guys, if you have any desire to invest your money in any kind of equity going forward, learn technical analysis (chart reading). I had no idea when I was learning this for Forex that it would allow me to trade stocks, metals, and oil too at a high level of success -- but it's the one common language of investing. Don't be Mr. Last-To-Know barstool speculator like everybody else I hear who talks about investing -- throwing out useless buzzwords and parroting what some guy on TV said. None of those guys do well at all, ever. Educate yourselves. It's important.

Believe it or not, you already have an advantage being sportsbettors as far as how NOT to manage your money. My past betting history has taken my learning curve down a lot. There are some talented stock pickers out there who cut their wins short and ride their losses all the way to the bottom. Such a waste. If you knew how to do both, there's no telling how far you could go.

Not everyone stacks metals for economic collapse reasons and not everyone is trading daily. I learned about playing the gold/silver ratio in the late 90's, what a time with $6 silver and $400 gold, and have continuously traded up when I believe proper and am very happy with the results for a 20 year investment play which is still going, better than a bs 401k thats for sure.

Nobody KNOWS the future but c'mon we all have ideas and opinions, like imo silver getting back to 40+ before touching 10 again

[SharpAngles]

This is all your uncle needs to know. Gold was $1000/oz in 1980, and $250/oz in 1999.

Gold bugs always say that "gold will never be worth zero". Yes, but give me a time where the S&P was down 75% over a 20 yr period.

Tell your uncle there is nothing wrong with owning some gold, but to keep his position less than 10% of his investable assets.

Tell him to stay diversified. No sense in gambling with his retirement.

Lol 1980 was the historic high of gold around $2k when everyone overestimated the computer revolution and 99 was near the bottom but way closer to 400 never even touched 300. Just helping prove your point

[jjgold]

Everything looks easy until you invest real money

[StackinGreen]

This is all your uncle needs to know. Gold was $1000/oz in 1980, and $250/oz in 1999.

Gold bugs always say that "gold will never be worth zero". Yes, but give me a time where the S&P was down 75% over a 20 yr period.

Tell your uncle there is nothing wrong with owning some gold, but to keep his position less than 10% of his investable assets.

Tell him to stay diversified. No sense in gambling with his retirement.

Good advice, but your first statement omits the fact that gold was $270 in 2000, and $1660 at the end of 2012. At those same times, the S&P was just under 1,400 (2000), and at the end of 2012 ... just under 1,400. The market hit two bubbles in 2001 and 2008. You don't think another is coming?

So even with stocks ... buyer beware.

[Ghenghis Kahn]

This gets people all excited because they think that they too can magically buy everything at the bottom and sell at the top.

ralphie, i was just replying to this. silver was virtually sitting between $14 - $15 an ounce for almost a year and gold was floating around $1100 for just as long. so you can't say you never know when these precious metals bottom out.

Uhhh, yes. But if you're wondering what to invest in right now, that doesn't help you any.

Guys, if you have any desire to invest your money in any kind of equity going forward, learn technical analysis (chart reading). I had no idea when I was learning this for Forex that it would allow me to trade stocks, metals, and oil too at a high level of success -- but it's the one common language of investing. Don't be Mr. Last-To-Know barstool speculator like everybody else I hear who talks about investing -- throwing out useless buzzwords and parroting what some guy on TV said. None of those guys do well at all, ever. Educate yourselves. It's important.

Believe it or not, you already have an advantage being sportsbettors as far as how NOT to manage your money. My past betting history has taken my learning curve down a lot. There are some talented stock pickers out there who cut their wins short and ride their losses all the way to the bottom. Such a waste. If you knew how to do both, there's no telling how far you could go.

personally, i still think it's still a good time to invest in silver. it wouldn't surprise me if silver hit $40 within the next couple years. but like anything else in this world, precious metal prices are manipulated.

[Ralphie Halves]

Nobody KNOWS the future but c'mon we all have ideas and opinions, like imo silver getting back to 40+ before touching 10 again

Nothing wrong with opinions at all. Just letting people know they can be dangerous if you simply invest on what you hear. There's fun talk, then there's making real money.

And remember, over half the silver out there is used for industrial purposes, so factor that in too.