$1193.4 Au New Record!
gsa1fan
Posts: 5,566 ✭✭✭
Gold new high
Avid collector of GSA's.
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gsa1fan
Posts: 5,566 ✭✭✭
Comments
My gut tells me to take the profit. Son's colledge educ. is funded and I have no debt except a mortgage, which unfortunately I have little or no equity in. Not underwater yet but who knows where the housing market is heading? Could take profit and pay mortgage down, but my gut tells me, no. Kinda ticks me off, when I was young I knew it all. Now I just have experience and the worst part, my allowance got cut off 40 years ago. Dang, life is tough.
roadrunner
Every time I think about taking "profit", I ask myself what I would do with the money.
I'd buy gold.
I could use it to pay off my mortgages, but I owe more than $1M. So it's not gonna help much
--Severian the Lame
If I sold and took profits I don't know what I would do with the money except buy stocks and bank CD's. I already have plenty of both.
I cannot see a sustained downward correction until the world financial community changes its assessment of the current regime in Washington. IMO that won't happen anytime soon.
edit for missing words
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<< <i>And apparently India thinking of buying even more gold--200 tonnes.
Every time I think about taking "profit", I ask myself what I would do with the money.
I'd buy gold.
I could use it to pay off my mortgages, but I owe more than $1M. So it's not gonna help much
What do you do to where you can afford a 1M house? My wife and I gross just over $160k a year and I thought we were better off than most, yet we live in a very modest 250k house.
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<< <i>And apparently India thinking of buying even more gold--200 tonnes.
>>
india buying gold is not really surprising considering their past history of gold
as a reserve percentage wise. they are not even close to their past peak percentage
wise.
what is more interesting is the regular indian folks flooding the scrap markets with
gold and the lack of imports at previous levels.
i really do not see the fundamentals for gold going up. as another poster mentioned
the dollar is down... seems as simple as that. easy low interest money creating a bubble
via speculation.
where have we seen this before?
with gold really.
fun to watch to say the least. i enjoy the articles lately as everyone is excited.
<< <i>I agree - why would I want to sell my gold and use it to pay off a 5% fixed rate mortgage? I'll just sit back and let it ride. >>
Especially when 10%+ gold seems to be a lock for the next 5-10 yrs. Add to this the constant devaluation of the greenback, and that mortgage actually seems like a gift!
deliveries are skewing it.
some profit taking will happen, even a cooling off correction.
just hang onto it, keep buying it if you can. stay within yourself.
--------
many US companies that can diversify overseas are investing themselves more and more overseas and will show gains, earnings and profits. Once these gains and profits are true and organic (not from write-offs and downsizing) AND Unemployment remains high..... the residential and commercial markets in USA still soft....there will be NO attempt to prop it up as it will KILL American Business that invests overseas.
i'll refrain from answering the $1 million question as he has talked about it before there and it wouldn't be sporting here. LOLOL
<< <i>Weiss doesn't know it, but we hang out at the same watch site as well.
i'll refrain from answering the $1 million question as he has talked about it before there and it wouldn't be sporting here. LOLOL >>
Seriously?! I haven't been on TZ in YEARS
The debt is mostly rental properties.
--Severian the Lame
www.AlanBestBuys.com
www.VegasBestBuys.com
<< <i>And apparently India thinking of buying even more gold--200 tonnes.
Every time I think about taking "profit", I ask myself what I would do with the money.
I'd buy gold.
Weiss, that is absolutely true. Why would I put the profit back into the ever shrinking dollar. Until I find confidence in Congress and the Federal Reserve and BHO, I'll stay in gold, silver and platinum. Now, that doesn't mean that I won't trade a little if we get overextended. Then buy back at some support level.
R95
Flip back 6-10 months.....isn't this the same old tired refrain used when gold was again attempting to break the $900, $950, and $1000 levels? When will the fundamentals finally be apparent that it's all about loss of confidence in a world-wide Ponzi paper fiat/debt scheme now in its 38th year. Why is the easy low interest money going preferentially into gold and other select commodities? Why not bonds, jewelry, stocks, real estate, ipo's, etc. Why is gold about the only commodity/investment medium making new all time highs? It has to be just a tad more than bubblish speculation esp. when that item is known to be a useless and barbarous relic.
best advice I ever got (and it came from my dad when I was a kid): "No one ever went broke selling at a profit."
My dad also told me that you can't make any real wealth by always taking the quick profit. Sometimes you have to ride the trend until it isn't one any longer. It would be like getting out of Microsoft in the 1980's (or stocks in general) after the first 100-200% was made. Those selling their physical gold in the $1000-$1200 range are going to be surprised in a few years at what they left on the table....not to mention they cashed out their insurance policies.
roadrunner
best advice I ever got (and it came from my dad when I was a kid): "No one ever went broke selling at a profit."
My dad also told me that you can't make any real wealth by always taking the quick profit. Sometimes you have to ride the trend until it isn't one any longer. It would be like getting out of Microsoft in the 1980's (or stocks in general) after the first 100-200% was made. Those selling their physical gold in the $1000-$1200 range are going to be surprised in a few years at what they left on the table....not to mention they cashed out their insurance policies.
roadrunner >>
Amen, brother. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>best advice I ever got (and it came from my dad when I was a kid): "No one ever went broke selling at a profit." >>
Your father is a smart man!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
you cut your losses quick, and you let your profits run.
www.AlanBestBuys.com
www.VegasBestBuys.com
<< <i>okay, so you don't like what my dad said. then how about what Stan Weinstein told me...
you cut your losses quick, and you let your profits run. >>
He sounds like a smart man also! take it to the bank!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
Keep your eye on the ball.
I knew it would happen.