Gold: Are you currently buying/selling/holding?
Bochiman
Posts: 25,381 ✭✭✭✭✭
So, if you are someone who "stacks" the PMs, where are you on gold right now and where do you see yourself in the next quarter or two?
Have you bought what you wanted and you are holding?
Are you buying, either because you follow the plan to always buy and just cost average, or you believe it is a good deal still?
Or, are you selling, as you bought lower (maybe) and feel gold will continue downwards for a bit and for awhile?
If you aren't buying, then what is your spot price to come in?
If you aren't selling, then what is your spot price to start selling?
I should have listened to my wife, 15 years ago, and bought gold. She's Asian and I wanted to buy silver since it was cheaper but, being Asian, she wanted gold. The ONE time in my life I should have listened 
I've been buying a little bit, here and there, for the last year or two. Around $1240/oz cost, give or take. Not that great, but I needed to put some funds somewhere, other than the bank and stock.
I haven't bought anymore for the last few months (spot above $1260 at least). If it hit ~$1000, I could see myself buying a few ounces or more. Probably an ounce or two around $1100.
I haven't sold any either. I'm not really a seller right now. If it did hit $1500+, then maybe. In between, I will probably just hold.
I bring this up because I ran across an article that seemed to suggest that gold was going to be in a downward trend for the next few quarters, at least.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Comments
I rescue dollars from certain destruction whenever I have too many of them. I'm selling some odds & ends and focusing on bigger chunks when I do buy, mainly for accounting purposes. I'm selling some low cost basis bullion whenever I need to offset recent loss positions while generating new capital.
Gold, silver - doesn't matter which.
Price? What is price anyway? It's all manipulated, so who really knows what the stuff is worth now, or going to be worth later? I don't, and if you know someone who does, please cue me in.
I knew it would happen.
Will the difference in price between $1,100 and $1,260 make a material difference in one's finances? Either one depends on the eventual sell price and the quantities involved. Materiality is an accounting term - an accounting concept that is (in my opinion) - very relevant here.
I would posit that the price of gold (or silver) isn't really material unless you own a boatload and the price more than doubles.
This has happened in the past, so it's really not a question of whether or not a price spike is possible. Human nature has already provided the answer several times in the past.
On the other hand, and cohodk can confirm this - stocks have usually outperformed gold handily in times of hyperinflation.
The question isn't about "performance", but about trust. The question is - who do you trust? The banks? Wall Street? The government? Or, yourself?
I knew it would happen.
I would just add that stocks are not wall street. When one invests in the stock market rhey are not investing in wall street, but rather individual companies that create products or services, are innovative, and adapt to economic, political, social and psychological changes.
Nothing wrong with gold, other than the ofttimes incorrect belief or overstatement of its promises. Everyone should have some for diversification purposes, but thats all.
Knowledge is the enemy of fear
Hold on Gold-
Buy on Silver-
I hold on gold and silver... Sold some darkside gold (Britannia's) when gold was near @2K...but would not be selling now... nor buying...Cheers, RickO
I'm buying a tiny bit.
My YouTube Channel
Sold all my bullion gold, but buying selective silver bullion.
I'd be inclined to buy a bit at spot $1225 or so.
I 'told myself' I would sell some gold if it passed $1300.00, just some A.G.E. and generic, so I would feel like I made a good profit.
Still holding, don't really need any extra $$$.
Now, if it passes $1400.00........
Probably still hold, I like shiny things.
Holding and buying !!!
Thanks !!!
Another holding and buying
Most of my customers are holding and have slowed down buying any new
I buy small amounts when the price is right.
Not gold, but bought $200 face today (walkers)
I just bought some of the new Lunar Series II Perth Mint Year of the Dog. Unless Gold plummets I feel I can sell it at the Chinese New Year for a premium to the right buyer (Asian buyers having a child born/Birthday/Wedding etc.). Have a good friend fluent in Mandarin that said he'd help out.
Buying, submitting, holding. Until such time another wants it, or likes it more than me. So far, I think I like it more than Laura. Apparently, some of it makes her puke. But it is still a liquid commodity. I like your wife's thinking. It is a store of value.
You'll never go broke taking a profit...
I've reduced 401K contribution to just enough for company's 3% match and buying gold to diversify.
I prefer the tangible rather than mines oriented stocks; it brings me a lot fun. I am a believer on "dollar averaging" approach in the market > "spot averaging" for gold? Be consistent with buying and selective with selling.
My target year is 2030 so we'll see; in the mean time I am having a blast with this new hobby while "reducing" my exposure in the high PE market.
buying the silver dips
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
buying silver holding on gold
Liesurely accumulation on both g/s, holding.
I'm holding what I have and buying what I like.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
My sources tell me that gold is dead on the wholesale level with some pulling bids. They are not buyers.
Knowledge is the enemy of fear
Do your sources sell stock newsletters.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Come on now, derry, let's not have that old rehashing of all the attacks on Coho in this thread, please.
I stop reading other threads because of all that BS and I have been appreciating people's honest responses on this thread, and it was without the BS attacks and innuendos.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
My source is legit. I commented to him that that is the sort of apathy from which bottoms are formed, but that I think this girl has a big bottom. I think it's good to have a retail and wholesale view if one wants to get an accurate gauge of market conditions.
Look at the COT report....I'm sure roadrunner can add some color.
Knowledge is the enemy of fear
My source is legit , too. I work in a shop.
Picked up some puke gold and a nickel with a missing leg recently; for about the cost of two happy meals and a month's rent.
Holding both at the moment. Sold plenty of both at the last run up in late 2011 and early 2012 and will probably buy more on dips before I sell any of the stash I have left.
it's crackers to slip a rozzer the dropsy in snide
Have been buying both gold and silver modestly and steadily, and am holding.
Here's a warning parable for coin collectors...
Holding gold, buying some silver on pull backs.
Successful Trades: Swampboy,
Selling: 90% 40% bulk and odds and end silver pieces. Excess purge of bulk and supplementing needs.