gold - at what price would you sell?

secondrepublic

Assuming other economic fundamentals remain basically the same as today, I would sell most of it at around $1,600 to $1,800.

But if we started seeing some real inflation in the economy, the number could be higher.

Weiss

That's the problem. I don't think I'd sell even at $2k. I can't see myself selling at $3k.

Maybe. Maybe $3k. But only if all other things are relatively equal.

Justacommeman

<< <i>That's the problem. I don't think I'd sell even at $2k. I can't see myself selling at $3k.

<< <i>

But you have no problem selling your candlestick on the BST

Your candlesticks feelings are hurt

MJ

Weiss

<< <i>

But you have no problem selling your candlestick on the BST

Your candlesticks feelings are hurt

MJ >>

jmski52

I'm one of those guys who fc says have no plan to sell (unless I need liquid funds). For many years since about 1998, as I've wandered haplessly through the minefield of investing, I could find no equivalent way (besides precious metals) of safely preserving the money that I am earning - and that is especially true right now. I expect this to remain true until significant changes occur in the exact opposite direction from which we have been heading.

When someday I can put my finger up into the breeze and detect a change in the direction of the political winds and when the banks become banks again instead of speculative hedge fund operators, and when the vermin in the stock and commodity exchanges are cleaned out of those places with a high-pressure fire hose and some strong bleach solution - only then will I start analyzing stocks by classical valuation methods and consider buying paper assets for investment purposes once again.

My guess is that it will be awhile.

57loaded

i'm kinda with jmski52

i have sold some Ag here and there recently, but no no gold.

a rising inflation curve will be the capstone for gold prices (IMHO) it would appear that everything else is "in place"

mrearlygold

I'm in agreement with someone who said our assetts face much greater threats from government than from any markets. Sure enough it is because of government that the US dollar is becoming expensive toilet paper. I used to poke run at Argentina and how they destroyed their countries currency and that at one point it would have been cheaper to use Argentinian notes to wipe your butt than it would Charmin.

Looks like the US government has been taking lessons from Argentina.

Therefore gold is one way to counter that threat and it's been workinig rather well don't you think?

Fountainhead

I don't think price targets matter so much any more, not when central banks are buying by the ton.

I wonder if silver will come back from the dead to become a monetary metal once again? The Chinese liquidated their holdings at the very bottom of the silver market.

PerryHall

I'll sell when the government has a balanced budget and there is zero inflation.

RedHerring

I recently sold 5+ ounces of GAE proofs to a board member (segoja) because he was paying great premiums and I realized a 100% profit.

The 25 oz balance of gold I'm holding is mostly raw $20 Saints/Libs and MS GAEs. I would sell half at $1500/oz.

greghansen

I recently sold 5+ ounces of GAE proofs to a board member (segoja) because he was paying great premiums and I realized a 100% profit.

Nobody ever went broke taking a 100% profit so can't blame you for that. Plus Segoja is a great guy to work a deal with.

I don't intend to be buried with my gold so I would have to say if it rose 40-50% above my basis I would sell maybe 10-15% of it, and continue to scale out and sell another 10% or so every 10-15% higher.

MoneyLA

I have a simple investing philosophy:

I start to buy when an investment starts to make its move. I sell when the move is over.

There is no way to predict when this move will be over. You cannot pick a price point today for selling because you don't know if that price point will be surpassed the following day, the following hour, or even the following minute.

Let the "price" tell you when its time to sell.

For example: You buy at 100 and you see the price go all the way up to 115, then some selling and the price stabilizes at 108. You might choose 108 to sell.

But if you bought at 100 and set a sell target at 105, you would have limited your profits.

On the other hand: when you need the money its okay to sell. And, no one ever lost selling at a profit.

roadrunner

I wonder if silver will come back from the dead to become a monetary metal once again? The Chinese liquidated their holdings at the very bottom of the silver market.

If the Chinese are the money behind the massive JPM Comex silver shorts (and derivatives) then why would they have such a position if they held no silver? Why would they be trying to keep the price down? Why would they even have an interest? It would make sense if they were accumulating all along and wanted to keep prices down low until they had the largest stake. But then how do they walk away from those positions w/o losing big time?

Those that sold gold for paper notes in Weimar and Zimbabwe could certainly have lost everything taking a "profit" if those notes weren't immediately turned into other hard assets or useful goods almost immediately. Frankly, holding on to the gold during the entire affair was one way to have survived that crunch. Surviving the first 2 or 3 innings of this current economic crisis is one thing, but what about the last 6-7 innings when things accelerate even more?

roadrunner

RedTiger

There are two "kinds" of money (actually more, but two will suffice for this), "get rich money," and "stay rich money." For the "stay rich" money, the insurance money so to speak, when does a person cancel their insurance? Most times the answer is never, if they can afford to keep it.

As for the "get rich money," aka as trading money, the answer will vary from person to person. Some might buy and sell every day or every other day, some might hold for weeks or months at a time. Longer term than that starts to blur the line as to what kind of money that is. It seems only a few of the active participants on this forum actually trade with real money on this forum, so it may not be that relevant question.

Konahead

<< <i>I'm one of those guys who fc says have no plan to sell (unless I need liquid funds). For many years since about 1998, as I've wandered haplessly through the minefield of investing, I could find no equivalent way (besides precious metals) of safely preserving the money that I am earning - and that is especially true right now. I expect this to remain true until significant changes occur in the exact opposite direction from which we have been heading.

When someday I can put my finger up into the breeze and detect a change in the direction of the political winds and when the banks become banks again instead of speculative hedge fund operators, and when the vermin in the stock and commodity exchanges are cleaned out of those places with a high-pressure fire hose and some strong bleach solution - only then will I start analyzing stocks by classical valuation methods and consider buying paper assets for investment purposes once again.

My guess is that it will be awhile. >>




Well Said!

derryb

Gold historically peaks when the spot price of one ounce is about equal to the Dow Jones Industrial Average. At some point in the future (looks to be a ways off) it will happen and history shows this is the time to unload it all and put it back in equities as the DJIA is historically bottoming as gold is peaking. History is a great lesson for those that learn from it. There are lots of ups and downs until then and if you're selling the highs and buying the lows you should be able to increase your stash. To sell at this point and not reinvest at a dip is foolish.

Justacommeman

<<To sell at this point and not reinvest at a dip is foolish>>

wow. I disagree and I don't think I'm foolish at all ( my ex-wife will side with you though

People own gold for many reasons. Wealth insurance is one of them.

I would hate to be without at least 15% of my net wealth in physical gold at all times

Matter of fact I would not sleep well at all without it especially in these times

The day I bought gold, that nite was the best sleep of my life. For real

I've bought gold at $288, $377, $600, $660, $770, $870 and $1002.

I don't regret not selling at all

I hold gold and I trade gold futures both ways.

Fools gold. That's me.............MJ