Gold

[thomsoad]

A little over a year ago apple stock was at $190. I kept saying who would ever buy at that price...now it's $340+.

Just because gold is high now doesnt mean it will not double or triple within the next couple years?

What you're basically saying is until a stock crashes you shouldnt buy it?
No one knows what the future holds...we may look back in a year and say how cheap gold was at this time...

Most of the great investors of the world would tell you exactly that. Buffet in the 90's always complained he had too much cash on hand cuz he couldnt find any deals.

Your right in that who knows what the future holds ... but that also doesnt mean you throw caution into the wind and all those commercials you see on gold must be on to something. I see all these commercials and just remind myself of all those Home Improvement shows.

[97guns]

gold and metals are a super small market, who do you guys know that hold pm's. metals are nowhere close to being in a bubble or mania stage. when you start to see the vending machines pop up at gas stations selling gold and silver then we are entering the mania stage.

YouTube - Gold bar vending machine land in Las Vegas : Future of gold market

when i went to my dealer last week when silver was running crazy there was maybee 6 people inb the store, i'll know when its a mania when people are waiting outside the store to open like the real estate days.

when people wake up and find out that their federal reserve notes are swirling the toilet they will want something tangible and then a mania will be created.

[Frugal]

I personally will not ever buy gold, but that is just my opinion. Have seen too many hucksters trying to sell it on the radio and TV. I think if you are wealthy enough to buy some, though, it can have its place in a balanced portfolio. I just think it's a shame how some people put their entire life's savings into buying gold, and then don't have much to really live off of...

[walker.kenny]

I got a 6, and I’m wary of investing in something I am so clueless about.

[BigBlonde]

Gold vs Dollar

Would you rather have Dollars or Gold? - one is printed paper devaluing and losing its status as the world's reserve currency (especially each time the Fed flood the market with more useless unbacked paper), the other is a precious metal with unique physical properties required by industry and sought after the world over. Gold has also been the reference of value throughout history (not paper Fiat currency). Thirteen US states are consiidering reintroducing gold currency because of the instability of the dollar - find the article "Utah just one of thirteen states that want gold currency".
Likewise if the market crashes shares, stocks, futures, ETFs can disappear with the broker or banker. Wealth preservation requires a safe haven so when the dust settles after a crisis and hyperinflation you still have something other people will regard as valuable.

Finally what will be worth more at Christmas - $1000 in cash or $1000 worth of gold bought today?

It's a no-brainer - the Bank of America,amongst many others, agrees!

[biff]

+1 most of my savings are in silver and gold. I buy whenever I have extra money. I keep just enough in dollars to pay bills and a few hundred in my wallet.

Would you rather have Dollars or Gold? - one is printed paper devaluing and losing its status as the world's reserve currency (especially each time the Fed flood the market with more useless unbacked paper), the other is a precious metal with unique physical properties required by industry and sought after the world over. Gold has also been the reference of value throughout history (not paper Fiat currency). Thirteen US states are consiidering reintroducing gold currency because of the instability of the dollar - find the article "Utah just one of thirteen states that want gold currency".
Likewise if the market crashes shares, stocks, futures, ETFs can disappear with the broker or banker. Wealth preservation requires a safe haven so when the dust settles after a crisis and hyperinflation you still have something other people will regard as valuable.

Finally what will be worth more at Christmas - $1000 in cash or $1000 worth of gold bought today?

It's a no-brainer - the Bank of America,amongst many others, agrees!

[Mr Nice Guy]

Would you rather have Dollars or Gold? - one is printed paper devaluing and losing its status as the world's reserve currency (especially each time the Fed flood the market with more useless unbacked paper), the other is a precious metal with unique physical properties required by industry and sought after the world over. Gold has also been the reference of value throughout history (not paper Fiat currency). Thirteen US states are consiidering reintroducing gold currency because of the instability of the dollar - find the article "Utah just one of thirteen states that want gold currency".
Likewise if the market crashes shares, stocks, futures, ETFs can disappear with the broker or banker. Wealth preservation requires a safe haven so when the dust settles after a crisis and hyperinflation you still have something other people will regard as valuable.

Finally what will be worth more at Christmas - $1000 in cash or $1000 worth of gold bought today?

It's a no-brainer - the Bank of America,amongst many others, agrees!

Hey why don't you bug out to Canada if America sucks so bad pal. Im tired of all your doom and gloom crap. Why dont you focus on a solution to our problems instead of saying how screwed we are, or you could just shut the hell up, just my opinion.

When it comes to economics, ill put my trust in the "the fed" over you, any day of the week. Your cheap Gordon Liddy sales pitch wearies me.

[BigBlonde]

Seems like I hit a raw nerve. Why would I have a sales pitch when I have nothing to sell?- just passing on savings advice that can be useful to some folk - after all that is the name of the site! If the Fed are so great why are they creating the inflation that is killing US jobs and debasing the Dollar. It's not me that's doing that so be angry with the right people. Only people who trust the Fed usually have a vested interest. Check the facts on the Fed - it's a private company with a licence to print your money and make itself trillions in the process whilst ordinary folk are bled dry - don't sound fair to me!

[parafly]

When everyone and their mother is saying "buy gold!" and "buy silver!", that's the time to sell.

JMO

[97guns]

When everyone and their mother is saying "buy gold!" and "buy silver!", that's the time to sell.

JMO

who is every one and their mother? i RARELY come across someone telling me to buy gold. who do you directly know that hold gold and silver in any quantity.

[gambler2075]

When everyone and their mother is saying "buy gold!" and "buy silver!", that's the time to sell.

JMO

Welcome to Eastern Contraristan, population (now) 2.

Make yourself comfortable, there's plenty of room out here.

g

[gambler2075]

One fact that is rarely mentioned is that even the government doesn't count gold as an investment. For tax purposes, gold is considered a collectible. Rather then the 15% capital gains tax levied on investments held longer than 1 year, profits on gold are taxed at 28%, same as if you sold a painting or sculpture or other piece of art or collectible item.

Wow, I didn't know that either. Is this true even if you are in the highest tax bracket from profits on stocks, then you still will only pay 28% on gold profits? Or does that get bumped up to the top bracket as well?

Also, if you are trading GLD on the stock market, you aren't really trading the physical metal, so I highly doubt that they would consider those profits the same way they would consider it if you had physical possession of the metal and then physically sold it to someone.

g

[Mr Nice Guy]

Seems like I hit a raw nerve. Why would I have a sales pitch when I have nothing to sell?- just passing on savings advice that can be useful to some folk - after all that is the name of the site! If the Fed are so great why are they creating the inflation that is killing US jobs and debasing the Dollar. It's not me that's doing that so be angry with the right people. Only people who trust the Fed usually have a vested interest. Check the facts on the Fed - it's a private company with a licence to print your money and make itself trillions in the process whilst ordinary folk are bled dry - don't sound fair to me!

I want to apologize for being an a$$. Im having a tough day and I took it out on you.

Why is the Fed creating inflation? I dont believe they want to create it. Do you think Ben Bernanke's children get gas or shop at special grocery stores that are resistant to inflation? I doubt it, maybe im wrong though. But I dont believe the Fed wants to purposely "ruin the country" as you kind of insinuate in your post.

Im not very far in my economics studies in college right now (im in micro 202,) but without creating inflation, what would you propose the federal reserve did differently in our most recent financial crisis?.......I dont know either.

I may not like some of the outcome of their decision, but we are still here as country, inflation or not. I am happy for that.

Again I apologize for my earlier post please forgive me.

[Mr Nice Guy]

who is every one and their mother? i RARELY come across someone telling me to buy gold. who do you directly know that hold gold and silver in any quantity.

Lol, uh, Jim Cramer, and everyone who watches him

Gold Video of the Day: Jim Cramer - Three Ways to Buy Gold | Gold Information Center

[97guns]

Lol, uh, Jim Cramer, and everyone who watches him

Gold Video of the Day: Jim Cramer - Three Ways to Buy Gold | Gold Information Center

do you know him, are the people that you know that watch him running out and buying silver? i doubt it, the sheeple dont even know where to go and look for physical. out of my entire family of 100+ there is only 1 person other than myself that is buyin into metal.

when you guys say its in a bubble because everyone is buying, i just dont see it. everyone is too worried about who's gonna win idol