The gold market? [Archive] - Glock Talk

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Glock19Fan
12-31-2012, 17:06
I have considered buying gold in the last month or so, and a few weeks ago I was browsing gold and noticed it was around 1850-1900 per ounce. I was pretty set on buying some today and noticed it was in the 1600 range per ounce.

If these are both accurate prices for the time, then that is a pretty significant loss on value. At first I was excited I could possibly get it so cheap, but I may watch the market for a few weeks to see where it goes before I jump on the investment.

Is anyone else big on gold investments?

*ASH*
12-31-2012, 17:42
little late to the party . buy low sell high , those days are gone for gold. wait and see if it collapses then all in:whistling:

JBnTX
12-31-2012, 18:02
If you want to be in gold, then buy gold now.
After you buy, the price will either go up or go down.

If it continues up, then you made the correct decision.
If it goes down, you'll just have to hold it longer to make a profit.

Gold is the best way to preserve the buying power of money you have already accumulated, since it has it's own value and isn't dependent upon some other financial instrument for its value, like stocks and bonds are.

Gold's value will never go to zero, like a stock or bond can do.

Investing in gold to accumulate money might not be the wisest of investments at this time, especially if you have a short investment time horizon. You may have to hold it for a long time to recover losses from a decline in the price of gold.


..

Baba Louie
12-31-2012, 18:10
Go ahead and buy a dime or two, maybe a quarter, for the novelty since you can't find a gun or ammo to spend disposable income on for some strange reason.

If the "cliff" comes (and it might still, we'll see what tomorrow brings) and the market reacts poorly on Wednesday (which it might very well) I'd expect $2500 to be the next plateau.

But whaddaIknow?

southernshooter
12-31-2012, 18:11
I see where you can buy gold everywhere at retail. I see where you can sell gold everywhere at wholesale. Never been able to make that work out for profit.

WT
12-31-2012, 18:18
Be careful.

In the New York area they have found phony gold bars made of a base metal covered with a gold foil. The weight is correct but it requires a sample analysis and x-rays to determine if the bar is real. The gold dealers are really upset over these fakes.

DoubleWide
12-31-2012, 18:34
I see where you can buy gold everywhere at retail. I see where you can sell gold everywhere at wholesale. Never been able to make that work out for profit.

Yeah, you have almost $100 change in price just to break even nowadays for physical.

Gold is just another stock unless you have physical and the market really breaks down.

Haldor
12-31-2012, 20:42
I have considered buying gold in the last month or so, and a few weeks ago I was browsing gold and noticed it was around 1850-1900 per ounce. I was pretty set on buying some today and noticed it was in the 1600 range per ounce.

If these are both accurate prices for the time, then that is a pretty significant loss on value. At first I was excited I could possibly get it so cheap, but I may watch the market for a few weeks to see where it goes before I jump on the investment.

Is anyone else big on gold investments?

Gold has been bouncing around $1700 (+/-150) per ounce for the last 18 months. This is noise in my opinion and doesn't indicate anything of meaning.

I bought mine 4 years ago (~$900 per oz) so I am pretty happy. I am not selling either. Gold is more of a go-for-hell contingency plan for me than it is an investment.

And yes people were calling a bubble at $900 an ounce in 2008. Not the most accurate prediction I have heard in my life.

http://www.kitco.com/LFgif/au00-pres.gif

I would not be a bit surprised to see Gold top $3000 within the next 5 years.

P.S. I only invest in physical metal. I am not interested in dealing in paper gold or silver. And yes I have quite a bit of $14 an oz silver in my safe too (got to be able to make change).

tbone1970
12-31-2012, 20:52
please educate me a little.

whats the best way to buy gold? go to a local jeweler/pawn and buy coin/bars/blanks/what?

is buying from a local dealer the best way?

i have no interest in coin collecting. but are gold coins/blanks the easiest way to buy from a local dealer?

Razrbk444
12-31-2012, 20:57
I know the subject is gold, but have you thought about silver? I believe silver can more easily double in value at the current price of $30.35 per oz., than gold can at $1664.00 per oz. My opinion of course.

HollowHead
12-31-2012, 21:02
Be careful.

In the New York area they have found phony gold bars made of a base metal covered with a gold foil. The weight is correct but it requires a sample analysis and x-rays to determine if the bar is real. The gold dealers are really upset over these fakes.

I don't think this is a problem with proof sets. Who buys "bars" anyway? HH

Dragline
12-31-2012, 21:25
I know the subject is gold, but have you thought about silver? I believe silver can more easily double in value at the current price of $30.35 per oz., than gold can at $1664.00 per oz. My opinion of course.

Yeah at that price per oz. I would seriously consider loading up on rolls of 1964 JFK half dollars.
They are readily available in great shape and are instantly recognizable and easily liquidated.

A while back I was recommending Palladium to many and that has been doing OK lately.

Jonesee
12-31-2012, 22:48
Gold returned 5.05 percent in 2012, silver returned 7.08 percent, which trailed all the stock indexes. The S&P returned 13.4 percent for the same period. If you are buying gold for an investment you are substantially underperforming the market and leaving money on the table.

certifiedfunds
12-31-2012, 22:53
I see where you can buy gold everywhere at retail. I see where you can sell gold everywhere at wholesale. Never been able to make that work out for profit.

You mean exactly like equities?

Walter Bishop
01-01-2013, 10:39
Selling securities and selling alternative investments like gold is very different. Securities can be bought and sold on very efficient public exchanges where the competition has led to brokerage fees in the pennies. There are no exchanges where individuals can sell gold so the middleman who buys it from you can demand a huge cut.

certifiedfunds
01-01-2013, 11:48
Selling securities and selling alternative investments like gold is very different. Securities can be bought and sold on very efficient public exchanges where the competition has led to brokerage fees in the pennies. There are no exchanges where individuals can sell gold so the middleman who buys it from you can demand a huge cut.

You still buy at a premium sell at a discount and incur transaction fees


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GAFinch
01-01-2013, 12:59
Go ahead and buy a dime or two, maybe a quarter, for the novelty since you can't find a gun or ammo to spend disposable income on for some strange reason.

If the "cliff" comes (and it might still, we'll see what tomorrow brings) and the market reacts poorly on Wednesday (which it might very well) I'd expect $2500 to be the next plateau.

But whaddaIknow?

Ratings agencies may also look at the disastrous "fix" for the "cliff" and downgrade our reckless government again anyway. No matter what, though, the debt cliff is on the horizon and any alternatives to US currency will be quite valuable then.

jacobsed
01-01-2013, 17:25
Investing in precious metals because you think its a safe bet is ridiculous. You can't do anything with it if the economy collapses. No failed economy has ever gone back to gold as a currency and you can't eat it. Gold is a bubble soon to pop.

certifiedfunds
01-01-2013, 18:16
investing in precious metals because you think its a safe bet is ridiculous. You can't do anything with it if the economy collapses. No failed economy has ever gone back to gold as a currency and you can't eat it. Gold is a bubble soon to pop.

lol..

JohnBT
01-01-2013, 19:23
Didn't you say it was going to $2500 an ounce last year? lol

Some kids saved baseball cards. I started saving silver coins in the '50s. :)

John

certifiedfunds
01-01-2013, 19:27
Me? Probably so. Keep watching.

Glock19Fan
01-02-2013, 01:24
I was interested in just getting bars or plates rather than coins, but is there a more desireable choice between the two?

railfancwb
01-02-2013, 04:16
I was interested in just getting bars or plates rather than coins, but is there a more desireable choice between the two?

I would suggest modern dated "bullion" coins such as the US Treasury sells. Other nations such as Canada offer them as well, but the US ones have some advantages for US residents. The one Troy ounce size tend to have less premium than smaller ones, but some amount of smaller ones would offer change making ability.


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JohnBT
01-02-2013, 05:59
"Gold returned 5.05 percent in 2012, silver returned 7.08 percent, which trailed all the stock indexes. The S&P returned 13.4 percent for the same period."

Bank of America stock was up 104% for 2012. Now there's an eyepopping number.

Atlas
01-02-2013, 06:46
Investing in precious metals because you think its a safe bet is ridiculous. You can't do anything with it if the economy collapses. No failed economy has ever gone back to gold as a currency and you can't eat it. Gold is a bubble soon to pop.

Not a history student are you?

holesinpaper
01-02-2013, 11:31
And yes people were calling a bubble at $900 an ounce in 2008. Not the most accurate prediction I have heard in my life.

Some were calling the RE bubble in late '04. A horrible prediction, until around 2007.