OT: Do you believe in Silver & Gold now?
- Thread starter BABYBULL24
- Start date
The original poster should look up the Hunt Brothers and their attempt to lock up the silver markets.
With all the craziness in the financial segment of Covid, does anyone own gold ? If so, are you under 55 years old and why did you decide to investment ? How often do you check the price or are you leaving it until retirement ?
I had purchased some in 2008 and only once in 11 years (2012) did it really gain value. I left it alone and it never gained until now. Since 2003 when I would listen and read articles of it approaching
$ 2000/oz by the experts, it never did. We've been thru some crazy financial turmoil over the years that supposedly should've sent it skyrocketing. Or maybe you bought silver instead.
Any input ?
I had purchased some in 2008 and only once in 11 years (2012) did it really gain value. I left it alone and it never gained until now. Since 2003 when I would listen and read articles of it approaching
$ 2000/oz by the experts, it never did. We've been thru some crazy financial turmoil over the years that supposedly should've sent it skyrocketing. Or maybe you bought silver instead.
Any input ?
Last edited:
A lot of people on YouTube buy silver and gold, their belief is that it is 'real' money, not a piece of paper that has no real value but a promise. Like you say, there was a spike in 2011 and a spike this month this year. But generally gold and silver don't go up in value year after year to match inflation so it isn't a good investment. In 1980 silver was $16.39/oz which would be equal to $51.54 today but silver is only $26.89 today. Gold at 2,000+/oz I believe was a spike and it didn't last long. It's current value of $1,947 is still pretty high.
If you bought gold in 2003, you're a winner. But if you got some in 2012 or later, maybe.
Bought some Au/Ag around 2000 at about $900/$8 . sold some around 2009. Bought more in 2018-2019 $1350/$12. Just sold some this week ($2008/$28).
So many small investors get in around the peaks. I can understand why it's frustrating.
I've never seen it as an "investment" per se (like a stock). It's a hedge against inflation and a store of wealth and part of a wide diversification/safety strategy. I have never bought expecting to sell in less than a decade.
I roll my eyes at OP because he typically posts late night, mostly spewing outlandish topics and never responds. Usually his threads are locked or deleted. This one is fairly "normal" lol
His alien thread was really hilarious.
This might sound bananas, but OP may be Kanye West. [roll]
🤣
If one was to put the value of one ounce of gold from 2003, $363, into the SM and got an average return of just 15 percent every year for 16 years, they would have $2,953 which is higher than the cost of 1 ounce of gold at today's value. Anyone who entered the SM in March, just 5 months ago, would have doubled their money. Gold didn't double it's value in 5 months. Where gold shines is, it will never drop to a very low value. It pretty much stays the same.
Rather invest in gold than eventually get negative interest rates in a bank and potentially seeing a loss in stock market
then again where else do you put your money?? Printing dollars is depreciating the US dollar but no way the world let’s the dollar become worthless
then again where else do you put your money?? Printing dollars is depreciating the US dollar but no way the world let’s the dollar become worthless
I thought the basic idea was that if the SM was going down, gold would do just the opposite and make gains. I've yet to see it happen that way all the time.
My boss used to do gold trading in a mutual fund that paid dividends in gold coins as an option.
He would take the option for coins. Every couple of months a courier would show up with a box of coins. He didn't make any money because he claimed that he had so many gold coins that he had to install a safe in his basement that cost so much to buy/inistall.
Then the divorce.......
He would take the option for coins. Every couple of months a courier would show up with a box of coins. He didn't make any money because he claimed that he had so many gold coins that he had to install a safe in his basement that cost so much to buy/inistall.
Then the divorce.......
I have been buying gold and silver since about 2013, Cost averaging my purchases, I am up about 40% overall.
The problem with gold and silver is that technically, it is not an investment. it is a insurance hedge against the dollar with the sole objective being to maintain one's wealth. This is a concept that a lot of folks have trouble grasping.
Gold prices in particular have been manipulated for years now. But one has to ask why folks like Warren Buffet, JP Morgan, Goldman Sachs, the Chinese and Indian governments are buying gold hand-over-fist if it holds little value.
I think it makes sense to have at least 10% off your holdings in gold and silver as a hedge.
The problem with gold and silver is that technically, it is not an investment. it is a insurance hedge against the dollar with the sole objective being to maintain one's wealth. This is a concept that a lot of folks have trouble grasping.
Gold prices in particular have been manipulated for years now. But one has to ask why folks like Warren Buffet, JP Morgan, Goldman Sachs, the Chinese and Indian governments are buying gold hand-over-fist if it holds little value.
I think it makes sense to have at least 10% off your holdings in gold and silver as a hedge.
I always believed in silver & gold. All rich people know that the only money on the earth is precious metals and real estate. I have no money to buy real estate, but I used to buy silver dimes. For me, this is the safest way of investing and it's also pretty convenient. Guys, I don't mean that you also should invest your money in silver, especially if you have no experience in this field, but in case you know what I am talking about, then most probably you understand how important is to invest your money in gold or silver. I wish you the best and be rich.
Last edited:
i'd include copper jacketed lead in the precious metals bucket
A
anon_ivydyf0amkzay
Guest
OP is like the rutgersal but of bullshit...one original tin foil hat worthy post and borrows back into his little cave...by now that schtick is tired and old...
Hmmmm, you've chided me in the past for saying similar things about another member of the tinfoil hat brigade who posts here on occasion...I roll my eyes at OP because he typically posts late night, mostly spewing outlandish topics and never responds. Usually his threads are locked or deleted. This one is fairly "normal" lol
His alien thread was really hilarious.
This might sound bananas, but OP may be Kanye West. [roll]
I'm guessing it went down due to panic.
And it went up as people have seen stimulus as a precursor to inflation.
Now the talk on inflation has been interesting as the Reserve has been saying they can't get sustainable inflation, and deflation is actually a significant risk. Yet we see inflation in certain segments of the economy, like building materials and real estate, yet we see prices in other segments of the economy such as oil, air travel, and even urban real estate lagging rather significantly. The bifurcated nature of inflation vs deflation very much resembles the bifurcated nature of the current economy, certain segments are flying, others teetering on extension.
I have been seeing more inflation talk very recently surrounding the 2nd round of stimulus.
Last edited:
Yes, someone I care about... OP is an interesting poster though..never responds and very random with his threads. He might be an AI.
Similar threads
Latest posts
-
-
With the portal now open, does Gavin Wimsatt enter after the spring game?
- Latest: Nycrusupporter
-
-
