Is now a good time to buy Gold?

[Blessed]

Just curious where you store gold. I have a very wealthy friend whose financial adviser had him purchase several hundred thousand in physical gold. I'm certainly not set up to store it the way our friend did. We were just taking about it today.

[Blessed]

Just curious where you store gold. I have a very wealthy friend whose financial adviser had him purchase several hundred thousand in physical gold. I'm certainly not set up to store it the way our friend did. We were just taking about it today.

Just bumping to see if anyone can answer my above ?. That is only 15% of her assets and was done at the advice of her adviser. I still am curious how those that own physical gold store it. Most of us probably don't have a panic room with an 800 lb safe.

[greenskeeper]

Just bumping to see if anyone can answer my above ?. That is only 15% of her assets and was done at the advice of her adviser. I still am curious how those that own physical gold store it. Most of us probably don't have a panic room with an 800 lb safe.

Gold is extremely dense so the weight doesn't take up much room. Heck, all the gold in fort knox fit into a relatively small room.

[J.Apple902]

yeah you just get a safe right? People buy huge gun safes and stuff. I'm sure you can get whatever size safe you need for something reasonable ($500-$1k maybe, no idea). But yeah, you either need a hole in the backyard or a safe.

[97guns]

i have a 1000# gun safe, another gun cabinet, and a big hole in the ground

[QuarterMillionMan]

After watching this Kitco news video it looks like gold may drop to $1150 in 2014.

http://www.kitco.com/news/video/show/on-the-spot/480/2013-11-19/Gold---What-Credit-Suisse-Needs-to-Turn-Bullish

[sroot19]

thanks for posting this. I've been interested in buying, so these responses helped me learn a bit more. Thanks everyone!

[cardtrick]

Gold doesn't pay coupons or dividends. And it doesn't do anything besides just sitting there. I'm not saying that you can't make money holding gold but I would rather hold assets that are productive. If you really think gold will go up, just buy the ETF. It's liquid, has a lower cost of trading and you can get out pretty much whenever you want. No need to go to a pawn shop and sell for a huge discount to spot.

[UnknownXV]

I admire your nerves of steel to buy & hold. Me if it drops $100 I get nervous. If it drops $300 I go into full panic mode (LOL).

It would largely depend on how much you have invested in it of course. Form me I currently have only bought silver, 20 ounces of it. Very small investment so far, just testing the waters. I'm only 23 anyways, so I don't have massive funds to play around with.

I'm not too concerned with the volatility of gold / silver because it's a long-term hedge against inflation. It's basically saying that you trust gold and silver to hold more value in the long run than fiat currencies. Personally I think that's a pretty good bet considering how recklessly the US Federal reserve is creating money. Indeed I know a lot of it is simply deleveraged so it's not causing huge inflation yet, but I think Janet Yellen will only increase how many assets the fed is buying because they desperately want higher inflation and lower interest rates.

I just don't see anyway to get out though. There's no exit strategy. Even just Bernanke mentioning the possibility of a taper sent bond interest climbing. Imagine if they actually did it?

It's all just down to one question, where does your confidence lie?

[QuarterMillionMan]

Today, January 6, 2014, gold is $1238. Anyone buying or selling? I'm contemplating maxing my 2014 Roth IRA contribution and buying $5500 worth in my precious metals Roth IRA. However, on CNBC's Fast Money some of the analysts predict gold to possibly drop to $1100 or even $900 sometime in 2014.

[97guns]

nope, i missed $1180 last week. i expect it to touch it again and i will buy then.

[KTP]

I have been dabbling in the miners. I bought some FCX at 34 a few months ago and TC at $1.80 Neither is a pure gold play but both produce tons of gold (is that right? lets see, TC will produce 260,000 ounces a year as a byproduct of copper mining. 260,000/16 = 16,250 pounds of gold = about 8 tons of gold a year...wow!)

[amarowsky]

I buy a few bullion oz's of silver irregularly every (1-3) months. I was trying to do 2-3 a month, but i frequently forget to and sometimes the store i go to is out of silver. Right now my (physical) precious metals probably accounts for 1% of my total brokerage portfolio (not including retirement). I remember hearing 5% is a pretty good amount to aim at for a truly balanced portfolio.

[BuckyBadger]

My husband collects Morgans, and I like silver coins with animals on them (chinese pandas, fiji turtle, aussie koala, etc.)

That's the extend of our precious metal holdings, and they're displayed on our wall.

I don't subscribe to the belief that there is any amount of metals necessary for a balanced portfolio - I hold a three fund portfolio with total US stock, total international stock, and total US bond.

[KTP]

Gold costs about $800 to $1300 an ounce to mine, depending on the byproducts and quality of the ore. Figuring some value for the mining claim itself, I think this puts a floor on gold of around $700. Having said that, I do not think it will drop below $1000 and I do not think it will go above $1400 during 2014. My guess would be it ends 2014 at around $1230.