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Thread: Gold: Who's Buying?

  1. #1
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    Gold: Who's Buying?

    Seems to make sense in uncertain times. Although I know little.

    How is it done? Pros and cons? Discuss... please

  2. #2
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    Pirates.


    Wait................is gold a metaphor for groceries?

  3. #3
    Like every good NJ native, I wear my gold around my neck.

  4. #4
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    :rimshot:

    Ok. any serious answers?

  5. #5
    [QUOTE=pauliec;2867571]Like every good NJ native, I wear my gold around my neck.[/QUOTE]



    Italian 18K right.

  6. #6
    [url]http://en.wikipedia.org/wiki/Gold_exchange-traded_fund[/url]

    Gold ETF is a good way to go - but keep in mind you are basically rooting against the market, could just save yourself the middle man and go with an UltraShort ETF [url]http://finance.google.com/finance?q=NYSE%3ASDS[/url] or [url]http://finance.google.com/finance?q=NYSE%3AQID[/url]

  7. #7
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    Are you looking at buying gold stock or the actual metal?

  8. #8
    [QUOTE=chicadeel;2867578]Italian 18K right.[/QUOTE]

    Of course. Only the best to showcase a crucifix and a St. Francis of Assisi medal.

  9. #9
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    Thanks bit, some good stuff

  10. #10
    I will give you a heads up on gold.

    [B]Don't buy it[/B]. It is going to go under US $300 an ounce within 2 years, and I wouldn't be surprised if it went a fair bit lower than that.

    Gold only is a good investment in inflationary times - we are not in an inflationary environment now, rather the opposite, a deflationary environment.

    Keep your money in cash - forget about gold. Gold goes down in price in a deflationary environment, along with everything else.

    And I was saying this when gold had hit US $1000 an ounce earlier this year and many were saying it was going to go to $2000 an ounce in short order. Last time I looked it was around $700 an ounce and heading lower.

    If you want to check gold prices/ways to invest in gold/precious metals, go to Kitco.com.

    BTW, when I've held gold (and silver) I've got it from the Perth Mint.

  11. #11
    [QUOTE=pauliec;2867594]Of course. Only the best to showcase a crucifix and a St. Francis of Assisi medal.[/QUOTE]





    Same here.
    Grandma's 18k chain and 18k St. Anthony medal.

  12. #12
    I bought some at 650.. and itís looking tempting now.

    Watch, Iíll buy a lot and then the government will confiscate it again like FDR did in 1933.

  13. #13
    [QUOTE=Black Death;2867614]I will give you a heads up on gold.

    [B]Don't buy it[/B]. It is going to go under US $300 an ounce within 2 years, and I wouldn't be surprised if it went a fair bit lower than that.

    Gold only is a good investment in inflationary times - we are not in an inflationary environment now, rather the opposite, a deflationary environment.

    Keep your money in cash - forget about gold. Gold goes down in price in a deflationary environment, along with everything else.

    And I was saying this when gold had hit US $1000 an ounce earlier this year and many were saying it was going to go to $2000 an ounce in short order. Last time I looked it was around $700 an ounce and heading lower.

    If you want to check gold prices/ways to invest in gold/precious metals, go to Kitco.com.

    BTW, when I've held gold (and silver) I've got it from the Perth Mint.[/QUOTE]

    At the same time, people hoard gold during bad economic times. Also, the Fed is doing everything it can to ruin the dollar in order to "stimulate" (ie distort) the economy.

  14. #14
    [QUOTE=BrooklynBound;2867760]At the same time, people hoard gold during bad economic times. Also, the Fed is doing everything it can to ruin the dollar in order to "stimulate" (ie distort) the economy.[/QUOTE]


    The fact of the matter is that gold always goes down in a deflationary period - bad economic times or not. Always.

    The Fed is doing everything to ruin the dollar, but we won't see the effect of that for some years yet.

  15. #15
    I think the most prudent thing to do is buy the Warren Buffet- type stocks, but not alot...GE, McDonalds, Coca Cola, Walmart, etc...also look at great co's that are out of favor, like oil or homebuilding stocks. Once the market turns they'll be the one's best positioned to do very well.

    Another thought...bond funds. This is an excellent oppty to get mid-teens type returns by investing in senior secured bank loans & high yield bonds..check out "BHY", it's an ETF (exchange traded Fund) managed by Blackrock- very smart guys & it's not as risky as stocks.

    Gold has had its run...IMO

  16. #16
    [QUOTE=Tucker134;2867936]I think the most prudent thing to do is buy the Warren Buffet- type stocks, but not alot...GE, McDonalds, Coca Cola, Walmart, etc...also look at great co's that are out of favor, like oil or homebuilding stocks. Once the market turns they'll be the one's best positioned to do very well.

    Another thought...bond funds. This is an excellent oppty to get mid-teens type returns by investing in senior secured bank loans & high yield bonds..check out "BHY", it's an ETF (exchange traded Fund) managed by Blackrock- very smart guys & it's not as risky as stocks.

    Gold has had its run...IMO[/QUOTE]


    Wouldn't be surprised if there was a rally in stocks soon - though the major indicies will be rangebound for some time to come, so no resumption of the bull market in other words.

  17. #17
    [QUOTE=Black Death;2867941]Wouldn't be surprised if there was a rally in stocks soon - though the major indicies will be rangebound for some time to come, so no resumption of the bull market in other words.[/QUOTE]

    Agreed....we def stay rangebound, but a 500-600 point pop is on the horizon. One stock to consider- Citigroup "C"...the ultimate out of favor financial- with all the mis-management over the past few years, they are still a survivor when this crisis subsides..$25 billion from Uncle Sam means alot, & they are in every major city in the world, so well diversified. There's also been alot of "insider buying" of Citi over the past few weeks...that means officers & directors of the co. are buying the stock in the secondary mkt with their personal funds...usually a good sign things could change for the better..those guys dont throw $$ around.

  18. #18
    [QUOTE=Black Death;2867886]The fact of the matter is that gold always goes down in a deflationary period - bad economic times or not. Always.

    The Fed is doing everything to ruin the dollar, but we won't see the effect of that for some years yet.[/QUOTE]

    When's the last time the US had deflation? I don't believe we went off the gold standards.

  19. #19
    The last time the US had deflation? Try today.

    What has happend in the US housing market over the last few years?

    That's right, deflation.

    What's happend to stock prices since last (2007) October?

    That's right, deflation.

    What's happend to oil, gold, silver, copper, zinc, all the base metals, grains, food etc in recent months?

    That's right, deflation.

  20. #20
    [QUOTE=Black Death;2868243]The last time the US had deflation? Try today.

    What has happend in the US housing market over the last few years?

    That's right, deflation.

    What's happend to stock prices since last (2007) October?

    That's right, deflation.

    What's happend to oil, gold, silver, copper, zinc, all the base metals, grains, food etc in recent months?

    That's right, deflation.[/QUOTE]

    The market is predicting it, but we don't know if we're in a period of deflation, yet.

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