Need gold advice

[99Boxster]

Ok, well you have to have something to sell to be able to sell it! I have a little bit of gold and silver, peanuts basically. Should we wait or what?

[clarkd32]

good info chachi... what do you think about buying gold or silver now for the short term and long term?

[Ian]

Thinking of investing money in gold. Prices continue to soar. Seems like a good investment . Any advice from others who have done so would be appreciated

I'm late to the party here, but if you do buy gold do yourself a big favor and avoid the highly marketed companies that heavily advertise. If you shop around for physical pieces or buy it in funds or stocks you'll avoid paying a high vig. on your investment.

[pronk]

Where do you guys buy the silver and what kind. I see theres alot for sale on ebay

Buy only from your local coin shop dealer

[Gonad]

If you're looking to buy, stay far away from Goldline and some of the other heavily advertised outfits, as mentioned above... Always have appreciated Gainesville Coins, they'll do ya' right... The internet is a big place, shop around... If you buy from a brick-n-mortar shop, depending on the state, there is sales tax involved...

And for gawd sakes, don't sell! Not now...

[chachi]

good info chachi... what do you think about buying gold or silver now for the short term and long term?

To me the underlying driver is not XAU in isolation but the USD leg of the pair going into the tank ( gold in relative terms is up but its moreso the Dollar side which has devalued )

To me the outlier is the Euro. I'd say gold is a likely worthwhile investment over a 5yr/10yr time horizon, but I'd also say it is likely the Euro will not exist in its present form/membership over the same timeframe. If the Euro breaks into say three "regional Euros" and/or some members withdraw, it could cause a rise in the underlying perception of USD, which would negatively impact XAU/USD prices.

Anyone who claims to know for sure that gold will continue to rise is full of shit and gazing into a crystal ball, chart formations and all that are often predictive but are also visually misleading. Things cannot continue to go up at a 45 degree angle indefinitely.

I sold the couple of ounces of gold I had at around $1200 ish, still have a kilo of Silver (from about $8oz) which I am considering unloading some of as well around here.

[IrishTim]

I wouldn't sell gold until $4,000.

[chachi]

if gold hits $4000oz anytime soon, that will mean that $4000 is worth about/less than half that in relative purchasing terms

[pronk]

What should we be buying right now

Guns and ammo! Trust me

[99Boxster]

Guns and ammo! Trust me

I agree...been doin that

[Outlawdino]

Looking at a Glock 19 myself.

[Outlawdino]

Metals going higher..congrats on your "gambling" and fading the 99% of the public...good profits. Those who excuse gold/silver as bubbles need to check themselves, especially if you invested in $300-900+ gold and $4 + silver....not over yet, not even close.

[pronk]

Metals going higher..congrats on your "gambling" and fading the 99% of the public...good profits. Those who excuse gold/silver as bubbles need to check themselves, especially if you invested in $300-900+ gold and $4 + silver....not over yet, not even close.

Do you have a back up plan in case this gold bubble bursts? This current gold fever is just another Federal Reserve's trick of getting its dollars back for next to nothing.

[chachi]

Outlaw - some of us know better than to play metal markets and watch/celebrate everyday's movement and how to differentiate performance. Few if any on here will be playing it to capture 1 day or 1 week movements, and retail bid/ask spreads on physical coins/bullion negate any real scalping ability.

GBP/USD has moved against you 5% since the beginning of the year, EUR/USD a bit moreso, while spot gold has actually dropped $10 or so an ounce since Jan 1st.

So for the last 2 mos you're scratch to slightly down on your metal but the currency you will cash out into is worth 5-6% less than it was, you're no George Soros ...

[Outlawdino]

Just following the money...

[Skidcom]

Should be around 5% of most portfolios now. Buy the index GLD or simply create bull spreads in the LEAPS. That is what I have

[Outlawdino]

Do you have a back up plan in case this gold bubble bursts? This current gold fever is just another Federal Reserve's trick of getting its dollars back for next to nothing.

If it bursts, at the minimum, you have hedged your buying power...probably do well with bartering. farming/food is doing well and will continue to do well. Weapons...guns, ammo, ect have been doing well, and will continue to do well. Just follow the trends and the money.

[Outlawdino]

Should be around 5% of most portfolios now. Buy the index GLD or simply create bull spreads in the LEAPS. That is what I have

I would take the OVER on the 5%