couple questions about gold

stickyicky666

stickyicky666

Active Member
Have been thinking about buying gold here and there and holding onto it for a while, is it a good time? will it go up?
and would 65 dollars for a 24k gram bar be a bad price? if its not i will probly be buying a half to an ounce of it
 
TheMan13

TheMan13

Well-Known Member
Think of the historical use of gold. Man has always been able to buy a "good" suite for a piece (1oz) of gold. It has a lot to do with an economy as a whole. Today I can get a "good" suite made in NY city for about $1800 or the going rate for an ounce of gold. I hope this can help you better gauge the gold market ;)

Good luck,
TheMan13
 
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Meast21

Well-Known Member
Dude my buddy owns a small pawn shop in a small town and he buys gold and silver. Not sure if its a good investment or not, at it's current price it's probally not going up to much higher. Best case scenario in the next few years gold might go up 25% but it could go way lower.
 
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budsmoker87

New Member
before considering gold, consider the fact that central banks around the world have been accumulating mass quantities over the past 5-10 years
 
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Edgar9

Well-Known Member
Gold should represent a part of your portfolio. You can buy the GLD tracking stock which basically follows the futures price.
If you buy the coins buy the maple leafs and don't mark em up, no scratches.
No one knows where the price of gold will go. However, there are a lot of folks who feel 2000 an ounce will be reached some day.
 
stickyicky666

stickyicky666

Active Member
so i shouldent invest right now? i did the math after i posted that and it ended up being about 1800 a oz, i mean if it got to 2000 that wouldent be too worth it to hold onto it for how ever long unless i had fucking bank rolls and could buy a shit ton of it at the time but i got like maybe 5 or 6 hundred right now that i could spare on some gold but as long as it would take to get up to that price,thats not too much profit, i would like to invest in it or silver but i dont know im almost tempted to order some tonight but if its not going to be worth it then i dont see any point in investing in any at this point in time, thanks for everyones input, if anyone has anything else to say about it that would be very much appreciated
 
stickyicky666

stickyicky666

Active Member
Indagrow said:
A follow up question... Why is there so much fucking gold in the bearing sea?
Click to expand...
probly because not too many have the balls to dive into that shit and pull it out, hell the gulf of mexico down here in florida is ruff a lot of the time, you have to becareful sometimes just swimming you can get pulled out to sea just like that, i could only imagine the bearing sea. the ocean is very powerful thing
 
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Edgar9

Well-Known Member
Wait for gold to pull back to about $1,490. At that point you can almost get a 1/2 ounce maple leaf coin.

With coins the dealers hose you a little bit on the bid/ask spread but they don't report to the IRS so you don't have capital gains reported. With the GLD it's a traking stock so you buy it at a brokerage and the brokerage will report to the IRS when you sell it.
 
MajorCoco

MajorCoco

Well-Known Member
Gold is usually a hedge investment, meaning that it is used to offset risk of financial volatility. This is why the price of gold is now near historically high values.

I would only invest in it if you believe that the financial crisis is going to get worse. Currently, the market view is that gold will increase a further 10-15% in 2013, but will then drop back. This is due to the recent more-negative global growth forecasts we've been seeing, which mean that gold is still seen as a "safe haven" investment. My personal view is that the upside to buying now is too limited, unless you are buying for a long-term holding of very liquid, inflation-protected assets.
 
TheMan13

TheMan13

Well-Known Member
I personally will not spend $1800 on a suit, but many will. I am going to wait for it to pull back to $1300 before updating my wardrobe ;) If I had balls I may short a gold ETF :bigjoint:
 
TheMan13

TheMan13

Well-Known Member
Gold is down late today at 1754.10 (-12.30/-0.70%), lucky my options limit was hit at -17.13 earlier today :-P I think I may owe you guys a buzz, this was not on my radar :bigjoint:
 
dslantic

dslantic

Active Member
fluctuates here and there?
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No one's gonna be interested in gold in the future unless you invest in Terrorist Jewelers...I had a shiny gold ring, like it a lot, huge nugget with golf ball dimples. was pretty cool.
 
stickyicky666

stickyicky666

Active Member
Pretty much i have changed my mind from buying gold, to silver, im going to be ordering some later today from Apmex, anyone dealed with these people?
 
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