Gold $502!
mrearlygold
Posts: 17,858 ✭✭✭
mrearlygold
Posts: 17,858 ✭✭✭
mrearlygold
Posts: 17,858 ✭✭✭
Comments
Self Indulgence | Holey Coins | Flickr Photostream
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Cent guys probably going nuts
<< <i>I'm dumping all of my early gold and buying bullion. >>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
100proof1957
Expert Collector
Posts: 4750
Joined: Apr 2004
Thursday December 01, 2005 4:17 PM (NEW!)
im just buying gold that i want to collect !
Also, try not to get too excited about a year end price increase. Hold onto the excitement for the after holiday plunge in prices. When it's over $500 in February, then it's safe to say that it's for real.
<< <i>Just to re-iterate; You're not going to get rich investing in gold metal. The only way you can hope to make money off of gold metal is if you are already rich and can afford a lot of the metal. Metals as an investment are not the best source of money unless you happen to get very fortuneate in your purchases. (Such as buying a LOT of palladium metal in the mid 1990's, and selling it all off during the sudden boom in the early 2000's).
Also, try not to get too excited about a year end price increase. Hold onto the excitement for the after holiday plunge in prices. When it's over $500 in February, then it's safe to say that it's for real.
Man give it a rest, your not going to get "poor" either. You best learn about market cycles or you might just be caught up in a very unplesent one soon. I've heard this all the way from the $300 range until the goverment gets it's spending under control PM's will continue to soar higher. JMO
True wealth is built over a lifetime in many different market conditions. You must know when to hold them as well as when to fold them. It doesn’t matter if it’s the stock market, real estate, or PM’s they all trade sideways to down at some point in time.
This isn’t “Powerball” and you get rich over night, of course those folks just blow it and are broke because they don’t understand finance and how markets operate anyway. Disciple and self-control will make you comfortable in your old age.
<< <i>gold and precious metals have been a terrible performer and even worse investment over the past 10.. 20.. 30.. years.. let it have its short moment of glory and then back in the toilet for the next 10-20 years again >>
Actually gold was $35 an ounce in 1974. Real estate and the stock market has been a dog for decades too in the past and are over priced and due for a major correction IMO. All investment mediums have ups, downs, and sideways for long periods of time the real trick is not to get stuck in one or in netural for a decade.
like a pirate burying a chest of gold on an island 500 years ago,
today it would be worth a princely sum.
countries and govts come and go, but gold will outlast them all.
attaching your gold purchases to a historic collectable like a early
US eagle makes it all the better.
just my worthless two cents.
i like what you said about holing and folding.
i feel great now, because you have confirmed silver will outperformed gold.
and the kicker is i can get wealthy because i can buy much more silver than i could gold.
im sure the smart investors here are buying silver and selling gold. good luck.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>
Man give it a rest, your not going to get "poor" either. You best learn about market cycles or you might just be caught up in a very unplesent one soon. I've heard this all the way from the $300 range until the goverment gets it's spending under control PM's will continue to soar higher. JMO
True wealth is built over a lifetime in many different market conditions. You must know when to hold them as well as when to fold them. It doesn’t matter if it’s the stock market, real estate, or PM’s they all trade sideways to down at some point in time.
This isn’t “Powerball” and you get rich over night, of course those folks just blow it and are broke because they don’t understand finance and how markets operate anyway. Disciple and self-control will make you comfortable in your old age. >>
Oh I'm not arguing that. But there are people who will see that gold is up over $500 and suddenly start selling off everything they own in order to purchase the metal by the pound. That's not how you make money. Precious metals are a good addition to a long term investment portfolio, but I just don't think they are good for short term gains since the initial investment is so high.
The 'hold 'em or fold 'em' analogy is a good one, because like the game of poker, the money is made by making proper decisions and getting your money in when you have the best chance of winning. Maximize your profits while minimizing your losses. Sometimes you'll make the right decision and still lose, but in the long haul it will work out.
I'm just trying to state that precious metals are NOT a wise investment for short term gains.
Why does everyone think gold buyers buy at $500, then sell at $510 and get out for a few months. Sheesh!
gold and precious metals have been a terrible performer and even worse investment over the past 10.. 20.. 30.. years.. let it have its short moment of glory and then back in the toilet for the next 10-20 years again
Sure...the Dollardude syndrome again. I get so tired of hearing this. Yes, lets look at the 10-20 year gold track record with major market
manipulation as the major player. Does that count? Where's the manipulation now? I'll tell you, it's folding up. It's been waning for
the past 4 years. At some point the gold cartel will lose complete control of the gold market. And it's about time. You can't control
everything forever. Yes, let's look at the 50 year track record and say that stinks too. What people don't realize that PM's are a
game to diversify into while equities are weak and inflation is up....the past 4 years. And it will continue. We may end up with an
8-15 year PM's move. In hindsight it will have looked so easy. Then we'll go through another 15-25 years of equities with gold down
once again. The Dollardude's will just never get this. When the stock market hits 5,000 I wonder what the dudes of the
forum will be saying then???? I know....they'll be buying more stocks because they are so cheap. Yes, they'll be cheap possibly right
down to 3,000 or less. Stock up while you can.
This current gold move is far from over. $520 anyone?
roadrunner
Didn't you win the 2003 or 2004 contest for picking the highest gaining coin of the year? Nice pick by the way. I picked a bag
of 90% silver coin and got blown out that year.....but did buy many Saints to hold. Your #1 pick was the MS65 saint that went up some
57% in one year....all the while gold went up less than half that amount. No leverage? Get real fellas.
roadrunner
Tom
I'm starting to think Gold just might have some legs.
Here's some reasons why:
See above...inflation....maybe the Govs numbers can't hide it any longer. I see inflation on virtually everything I buy or spend money on.
All the cheap (easy to get to) gold has been mined
The growing middle class in India and China
US Debt.....or upcoming liabilities
Worldwide investor demand
Rumor/reality that the ECB and other World Banks might start buying
Oil profits
Edited to add...can't remember where I heard this..CNBC??... but Gold adjusted for inflation should be trading around $2,500.00/OZ.
I remember when they said Gold would not be allowed above $330 because Citibank had $1 Billion hedged the wrong way.
<< <i>Dennis, some other un-named forum member said that there is a myth that generic 63-66 saints offer no advantage to bullion.
Didn't you win the 2003 or 2004 contest for picking the highest gaining coin of the year? Nice pick by the way. I picked a bag
of 90% silver coin and got blown out that year.....but did buy many Saints to hold. Your #1 pick was the MS65 saint that went up some
57% in one year....all the while gold went up less than half that amount. No leverage? Get real fellas.
roadrunner >>
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Gold peaked at $875 in 1980. It fell to about $450 by 1981-1982 and has meandered ever since. Now since 1980 the money supply has been increased 5 TIMES. What should have happened was that gold should have increased 5X as well. It didn't. And the manipulation of gold reserves, hedging, and other reasons are the culprit. Now matter how you look at it, gold should be $2250 minimum just to regain ground from 1982. That's the direction we are headed. Gold is regaining the lost value that it should have gotten all along. It's been kept at bay like a coiled spring. Same thing occured from 1934-1971 when gold was fixed at $35 per ounce. Had it floated all those years you can bet $100-200 would have been a more reasonable base number. Once uncoiled it sprung far past the the $200 point and kept going. Gold can be kept down and managed......for a time. This is why I chuckle at those who point to gold's 10,20,30,50,100 year track records.
Since the FED was created in 1913 the money supply has been increasing at a rate higher than it really should have been allowed to. It's been going up nearly 8-10% per year since 1995. And people can actually say that is not inflationary???? Or that inflation is "only" 1-3% in that period? Which do you believe?
roadrunner