Options
Gold is taking a beating
CommemKing
Posts: 2,202 ✭✭✭✭✭
Now below $1200/oz. Anybody changing their mindset towards it or are you still buying like mad? I think if I had the money I'd be buying it up.
4
Comments
I want bitcoin! Something solid, simple, and foolproof.
Tempted to buy more bullion now, but something says wait and see. If I buy some it is sure to drop more.
SPLUNGE!
This will definitely affect the mood at the ANA Show.
Listening to a "money guy" show over the weekend in the car.
https://www.fool.com/investing/2018/05/27/could-you-come-up-with-400-41-of-americans-cant.aspx
"More than 4 in 10 Americans couldn't handle a $400 emergency expense without borrowing the money or selling something, according to the Federal Reserve's latest Report on the Economic Well-Being of U.S. Households."
https://www.marketwatch.com/story/401k-balances-increased-very-little-in-the-last-10-years-2018-07-02
"In 2017, the average account balance was $103,900; the median was $26,300. The big difference between the median and the average is due to a small number of accounts that have really big balances."
And then... I forget the date...but I think we all know that Social Security is going to see some ...drastic... limitations.
Soooooooooooo...... what will "they" do?
Confiscate assets is the only avenue.
Sooooooooooooo........... why have visible assets?
probably get another interest rate hike again next month. maybe go to the bank and lock in a 1.8
percent cd
Last chance at these prices!!!
http://www.kitco.com/images/live/gold.gif
Wouldn't you rather buy some ocean front property in Arizona?
Or a bridge
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
@1630Boston said: "Or a bridge."
Not that one!
The strength of the US Dollar also isn't helping it very much.
You can presently get 3% online.
"A dog breaks your heart only one time and that is when they pass on". Unknown
I wouldn't bet on that. The Fed wants 2% inflation, and if the dollar continues to strengthen and the interest rates increase, the resulting lower supply of money could result in deflation or at least a much lower rate of inflation.
So is silver.
OUCH !!!
I wonder what 2018 silver eagles are going for right now. I still need a few...
Or 1.95% in a high yield money market with instant access just in case you find that deal you can't resist.
it's crackers to slip a rozzer the dropsy in snide
Good. High gold prices don't really help coin collecting as a hobby - they merely prevent many from becoming interested in US gold coins and varieties.
Bullion buyers know from the beginning they are paying only for a commodity and accept volatility risk up front.
Forgot, this thread is about the price of gold. This might be a good opportunity to pull the trigger at the BRNA show in Dalton at the end of the month, or not.
it's crackers to slip a rozzer the dropsy in snide
... and it won't be positive.
Glad you said, "money market" because 1.95% wouldn't get ME to commit for more than a week on anything like a bond or CD.
This USED to be S.O.P. as I recall. Every big show was preceded by a precipitous drop in "the metals."
I'm drooling at the thought of raw BU St Gaudens on an ebay special at the same time of a bonus ebay bucks. That would let me pick some up for under $1,100 right now!
What is more interesting me me is that gold is off in euro terms, dollar terms and even sterling.
Latin American Collection
Well, so what? It's BARBAROUS!
Like Streisand.
It's on sale right now, like many collectible coins.
Coinflation has silver below 15 and gold below 1200 at 5:35 EST.
When solid companies such as AT&T have a dividend yield of 6.20% -- and preferential tax rates -- why bother with a bank CD except for the emergency cash?
Not a hedge against regular inflation and a dead asset. It works well when you currency goes into hyperinflation, or, for collectors who just love the metal (like me), but not something I ever "invest" in.
I like PM's as insurance, right now cheap insurance. It just stopped dropping, for now.
I am pretty sure that bullion does not qualify for eBay Bucks unfortunately!
A government accident left me a former man, a potato. That photo on my profile is a low resolution selfie. I like coins.
Wow... I may actually be able to do the gold page of my type set!!
Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
That is what I am excited about getting BU common date $20 pieces for my set!
A government accident left me a former man, a potato. That photo on my profile is a low resolution selfie. I like coins.
I don't claim any superior knowledge about the PM markets or think I'm smarter than anyone else, but every time I talk about the price going down I get harangued by certain members. in the current state of the World in general, the US Political climate and the way manufacturing markets are shifting, these prices don't surprise me. if we don't wise up and figure out that Isolationism isn't the way to go, that things are moving more towards being Global, the Nation is in trouble. the U.S.A. has strengths that are unmatched in the World, that is what we should focus on instead of causing havoc in markets with our trade policies and petty Political rivalries.
strangely, on Saturday at the end of work we were talking and I made my bold prediction...............................
Gold --- under $1200.
Silver --- under $15.
Platinum --- under $800.
................................all at about the same time as Palladium goes over $1000!!!
lol...... crash down by oct 1st
You can all thank me for the price drop. I purchased a giant lot of silver Sunday.
Well....silver is just silly.
nuttin
looking for opportunities to buy
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
I am going to wait till gold hits$700.00 an ounce.
Yup, sure is. I want Mactokens !!!
Sure, bullion listed under the bullion category does not qualify. But St Gaudens listed under collectible coin category does. I've been earning ebay bucks on them ever since ebay bucks started.
Gold isn't just a hedge against inflation, it's a hedge against uncertainty.
Right now things seem pretty "certain" out there which doesn't bode well for the price of gold.
I mean other than the usual regional hot spots, I don't think the US, Russia or China have any thoughts whatsoever about pressing the nuclear button against each other. And even some long time enemies have at least been communicating with each other, such as the US and North Korea.
Of course things can change in an instant, but overall it's pretty calm out there, and I just don't see that changing for now.
So in my opinion, gold prices will continue to fall. Gold below $1000 wouldn't surprise me in the least.
That infographic lacks context...Warren Buffet has also said that he never would own gold, it doesn't generate cash like the investable companies he focuses on. See @RogerB 's post on AT&T.
Latin American Collection
AT&T is down almost 20% from its 52 week high so if you bought it at the high it will take 3 3/4 years of dividends to break even. Now if you bought it at its 52 week low a couple of weeks ago then that's another story.
it's crackers to slip a rozzer the dropsy in snide
The lower precious metals prices dragging down the market. I think it will crash further. Online and declining collector base contributing to bad shows. I bought some nice Gem MS65 NGC Peace dollars from large dealer (do biz with) at recent show at $75 each. Beautiful coins PQ with cartwheel Luster. This barely above what cost two people go out dinner probly par for Cali. Wb buying more especially if go down further.
One has to wonder where bottom is.
Are people still buying gold? here at PNG day, YES!! We wholesaled a fortune worth of soup to nuts gold at strong prices.
never saw anyone really stop buying gold in the last decade of swings
There is always "another story" with active investments. Trying to recover equity through dividends is false methodology. A dividend is not equity - it is a distribution of profit. Even at AT&T's 52 week high ($38.94), you would be earning 5.1% --still be far ahead of any bank return, although as the share price declined you would be 'locked in' at this rate.
Gold standard era bankers had a common saying: "Gold is an expense." Another was "Gold earns no interest." This idea is why banks resisted having to hold gold as a reserve and much preferred holding government securities and state bonds.
I hear you Roger, and agree with you. In fact AT&T is a stock that makes up a part of my dividend paying core holdings and I'm earning over 8% on my original cost. I'm just saying that sometimes it does matter when someone takes a position, especially in a retirement account when it goes down considerably at the same time they are taking a year end later in life required minimum distribution based on the value of that equity at the beginning of the year.
it's crackers to slip a rozzer the dropsy in snide