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Joined: 1/21/2007
Msg: 34
Gold-The only safe investment?Page 3 of 4    (1, 2, 3, 4)
Just out of curiosity...has anyone here actually sold their "old, broken or mismatched" gold to any of the companies? These companies are NOT paying out the real value of gold...what the market indicates the price is. They may be paying out only hal;f...perhaps even two thirds, though I doubt that. Also, on the ads on TV you see someone hauling out a handful of stones form the bottom of a recovery they pay the value of the stones? I never heard them claim that! So you send , say, an old wedding band set in. You get back a little over half the gold value, nothing for any stones that may be in it, and get to pay a bit off that credit card bill that had you so worked up that you sold your gold for in the first place!

Sounds like a scam to get every ounce of gold out of the peoples hands and into some corporations vaults.

You could set up the same kind of deal yourself! Offer to buy up gold in your own neighbourhood. If you have that kind of cash! far as other investments are concerned...has anyone thought about any other places to place money? How about in salt? Sounds odd....but salt is a commodity like anything else and has a lot of uses. It seems to have a steady return on it. Ok...nothing spectacular...but always there.
Joined: 10/14/2009
Msg: 35
Gold-The only safe investment?
Posted: 12/4/2009 11:28:15 AM
Gold is only "safe" for the people who got in low...and sold high.
Did everybody forget the early 80's?

Yes...yes,it seems they have...
Joined: 10/30/2009
Msg: 36
Gold-The only safe investment?
Posted: 12/6/2009 5:01:52 PM
Gold is good-during inflation-but gems are better. Gold is around $1,000.00 per ounce. There are 7,000 carats in one ounce. A flawless ONE carat blue-white diamond sells for about $3,000.00 . Multiply that by 7,000 to see what one ounce of flawless diamond is worth...$21,000,000.00! A flawless Emerald costs FOUR times as much as a comparable an ounce of flawless Emerald is worth...$84,000,000.00!!!!!

Gold is for whimps.
Joined: 12/7/2006
Msg: 37
view profile
Gold-The only safe investment?
Posted: 12/7/2009 1:20:29 AM
Never thought I would discuss gold on a dating site forum, but here I am.

India’s central bank just bought 200 metric tons of gold from the International Monetary Fund which has further increased Gold's overall value. Currently it's around $1100.00 an ounce. Some people are saying it very well could go to $5000.00 an ounce. I'm thinking maybe more like $3000.00 an ounce. I highly doubt we will see gold under $900.00 US Dollars per ounce ever again. What do the rest of you think?

$5K an ounce?!?!? Did they say in what time frame? It's useless speculation without knowing how long it will take to get there. Personally, I'd be impressed if gold can get to $1500 an ounce in a year's time.

I think there is a HIGHER probability for gold to drop to $900 an ounce than it rising to $3K and above. To be honest, I much rather see gold at $900 an ounce than at $3K. Whenever the price of gold goes up, it's usually because something untoward has happened. The faster the ascent, the worse the event. Betting on high gold prices is equal to betting on disasters to happen. It's a bet that I wouldn't want to win. That said, if I have money to invest, I will still want to put a little bit in gold as insurance.

NO-ONE can regularly predict price patterns 10 years ago oil was predicted by many 'experts' to go below $!0 /bbl. - right before it started on climb to almost $140/bbl. at that point predictions were fo r $200-$250/bbl. in a year or 2
now back down to $50-60 range

I agree. Commodity prices are notoriously volatile, and to use linear thinking to extrapolate future prices has been proven repeatedly to be more wrong than right. At best, one can only find "trends". Clearly the price of gold is trending up at the present time, but who's to say that this trend won't change tomorrow? All it takes is some event to happen, and suddenly the shinny metal will lose its appeal and the price will come crashing down. This is exactly what happen in March 2008, when gold peaked over $1K an ounce for the first time ever. Within 6 months, it felt right back to below $700. How many "experts" accurately predicted that?
Joined: 12/20/2006
Msg: 38
Gold-The only safe investment?
Posted: 12/7/2009 6:08:56 AM
The value of Gold often is opposite the value of the world monetary system (okay, mostly the US Dollar and the Euro).

If you feel currencies are going to tank, then buying gold is a good thing. If the value of the dollar rebounds, you will be SOL on your Gold investment.

However, on a media note. I find it funny that most investors are saying to avoid gold, as is my media guru Dave Ramsay, but it is radio/talk conservatives such as Glenn Beck, Shawn Hannity and Michael Savage touting it.

I wonder if it's another capitalization on the fear of Obama.
Joined: 12/20/2006
Msg: 39
Gold-The only safe investment?
Posted: 12/8/2009 7:03:12 PM
From Dave's website:

Gold Is Good?
Is investing in gold a good idea?

QUESTION: A listener says a lot of people are asking about gold investments. Is this a good idea?

ANSWER: It’s a bad idea to invest in gold. Everyone’s talking about it right now because gold is really high.

In the book Stocks for the Long Run, Jeremy Siegel has a graph that shows what would have happened to a single dollar invested in gold, bonds and stocks since 1801.

One dollar invested in bonds in 1801 would yield $13,975 today.
One dollar invested in stocks in 1801 would be worth $8.8 million today.
One dollar invested in gold in 1801 would be worth $14 today.

I am not as critical as Dave Ramsay, but I would not buy gold now. People speculate that it is going as high as $2,000~5000 an ounce. I would say that's not going to happen.

But you definitely hit the Conservative talk show controversy on the head Passionate Gent...
Joined: 1/17/2009
Msg: 40
Gold-The only safe investment?
Posted: 12/9/2009 3:51:36 PM
In the book Stocks for the Long Run, Jeremy Siegel has a graph that shows what would have happened to a single dollar invested in gold, bonds and stocks since 1801.

One dollar invested in bonds in 1801 would yield $13,975 today.
One dollar invested in stocks in 1801 would be worth $8.8 million today.
One dollar invested in gold in 1801 would be worth $14 today.

cool info, but this is all theoretical based on stock and bond AVERAGES.

there was no way to invest $1 in a stock 'average' in 1801; really there still isn't although you can get 'close' with ETF's & index mutual funds.

in the real world you might buy a stock that went to zero value (same with a bond).

I wonder how many stocks (or bonds) that were around in 1801 are still around today? most stock averages much be heavily weighted to companies that didn't even exist then (or not even before 30 or years ago) e.g Microsoft, Intel, Google, Yahoo, etc., etc.

plus, most of us do not have a 208-year investing time horizon. .so this info is useless to most of us. most of us, it might be 30-40 years maximum (to funds retirement, etc.)

I'm not really interested in trying to make my great-great-great-great-grandchildren wealthy (besides, would likely never happen as the first next generation to get its mitts on the money would spend it all long before 208 years pass by.

besides which, as the disclaimers all say, past performance is no guarantee of the future

this is a theoretical number assuming no taxes, commissions, etc. and like I said, most importantly that you could even buy "an average" any average changes over time, some stocks are dropped, and others added. the OLDEST index DJIA has changed quite a few times in its history (and doesn't even date back to 1801, was started in 1896.

only ONE Stock that was in that original index is still in it today, GE (General Electric).

the other problem with looking at long time horizons and saying (in the long run) is human nature

how many of us would REALLY go through a 20-year period like the Great Depression seeing our investments "under water" (huge losses), over 50% and "hold on for the long run? probably want to commit suicide, for sure your wife would be screaming at you about how stupid you are.. there have been other long time preiods (several years long) when stocks have been under water

check tech stock indices from 1995- present or Japanese (Nikkei) from 1989-present

do you know how long 20 years would seem like when living through it with losses (not like the little blip it looks like on a 100-year chart)
Joined: 1/17/2009
Msg: 41
Gold-The only safe investment?
Posted: 12/9/2009 4:04:05 PM

if there is a huge 'collapse', gold won't help'd need people to trade with and gangs would likely just form and kill you, take what they want

for food, etc. you MIGHT have a chance if you live in a really remote a city, highly doubtful.

if the collapse that some people talk about happens, we're all screwed! you can't eat gold or grow things with it or heat your home with it or shoot marauding gangs with it
Joined: 12/7/2006
Msg: 42
view profile
Gold-The only safe investment?
Posted: 12/10/2009 12:21:15 AM

I think silver is the better play but it's a great deal more volatile. I think people should have at least some of their portfolio in precious metals or commodities.

I agree that everyone should have a small exposure to precious metals in their investment portfolio, but I would argue the assertion that silver is the "better" play. Silver is as much an industrial metal and thus its value is somewhat tied to economic activities. Last year during the meltdown, silver suffered a larger percentage drop than gold did, and to date it has not risen past its all time high like gold has. IOW, gold has outperformed silver both on the way down and on the way up. Another problem with silver is that it is not as liquid as gold is, which makes it much more susceptible to manipulation and price-fixing.

if the collapse that some people talk about happens, we're all screwed! you can't eat gold or grow things with it or heat your home with it or shoot marauding gangs with it

A very poignant point. The gold bugs of the world insist on owning physical gold. They fear that the fiat currencies would soon collapse and holding gold is the only way to survive. I understand that fear, but if civilization does come to that, we are all screwed anyway no matter how much gold coins or bullions one has in his private vault. When paper money is worthless and a commercial contract does not bind, it's lawlessness and anarchy. That's a world I'd doubt many of us would want to live in.
Joined: 12/20/2006
Msg: 43
Gold-The only safe investment?
Posted: 12/10/2009 7:42:08 AM
"cool info, but this is all theoretical based on stock and bond AVERAGES."

The point of the statement was not a 208 year investment strategy, it is that over the years, Gold has not been a good investment.

While we all point to how much gold has climbed, but over 2 centuries, it has gone up and down and at the end of the day, unless you closely managing your portfolio and are willing to sell and buy, it has not done well at all, compared to the stock or bond market.

And again, some people are shouting that gold is going past $2000 an ounce. What bet would you put against that? I wouldn't.
Joined: 7/13/2009
Msg: 44
Gold-The only safe investment?
Posted: 12/10/2009 8:00:07 AM
Like any other investment, it's all about your investment horizon. What is your exit strategy for capitalizing on your gold holdings? Would you cash out of gold and go back into cash? Would you continue to hold the gold, knowing paper currency may ultimately become worthless?

At this point it sounds like its a matter of whether to use gold as an actual investment, or a future form of currency.
Joined: 7/5/2008
Msg: 45
Gold-The only safe investment?
Posted: 12/10/2009 9:47:33 AM
The only resource that they are not discovering any more of and that we always need more of is land. It is the ultimate investment.
Joined: 10/30/2009
Msg: 46
Gold-The only safe investment?
Posted: 12/14/2009 11:23:47 AM
The idea that land is good comes from post WW2 when land values did nothing but go up for so long. Then they went down, finally. If you invest in land, and it is crap-a bad area, zoned wrong for what you want to do with it, etc-you may die of old age before you can profit from it. If it is great-good area, right zoning, etc-there is the chance that some crook on a city, or state, or federal, board/council/etc will steal it from you for a song via 'eminent domain'...where the government takes your land for it's use, and pays you little, or nothing for it.

Having a little land of mediocre value/attractiveness is a good idea for part of your portfolio, but it should never be the whole enchilada of your investment strategy. Whether Gold, Land, or, anything else, follow the rule...never buy when everyone else is buying, or saying you should buy. Buy when others are selling, and desperate. Sell when others are buying, and greedy/fearful. Profit most by bucking the trends.

Land is no good as a profit maker if you can't sell it because everyone else is too broke/unemployed to be able to buy it from you. Gold is great to have during a high inflation, but not so great at other times. Years ago, it went from nearly $900.00 per ounce to about $400.00 an ounce. Those who bought during the buying frenzy-at $800.00 to $900.00 an ounce-got badly burned.

Gems are always great. Someone will always buy a gem from you, no matter the economy. Gems invoke emotional appeal. Someone who has always wanted a large Marquis cut Ruby, or whatever, will find a way to afford it if they get a chance at buying one from you. If you must flee one country, and take refuge in another, gems will be accepted when currencies are not. You can more easily smuggle a million dollars in diamonds through customs without being noticed, than you can smuggle a million dollars worth of gold, artwork, real estate, or anything else. Many Jews who fled Nazi occupied Europe got safely to freedom, and lived well, because they had diamonds, rubies, etc, to trade for: fake passports, food, clothing, transportation, bribing immigration officals, etc.

Unlike Gold,Land, etc, Gems never go down in value. Buy as close to the source mines as possible-with as few middlemen as possible in on the deal-and you will never take a loss. If investment value is not so high on a gem, it's jewelry value, or gift value, or such, will be high. If one market is cool, another will be hot. Have some gems of low value-for sale/barter to everday people-and some of higher value for sale to collectors, museums, etc.
Joined: 11/7/2005
Msg: 47
Gold-The only safe investment?
Posted: 12/14/2009 9:11:02 PM
A small portion of one's assets in gold is a wise & prudent hedge against a currency devaluation. Other than that I would recommend that you do not take any of the advice I see posted in this thread.
Joined: 10/14/2009
Msg: 48
Gold-The only safe investment?
Posted: 12/15/2009 8:10:33 AM
That,of course,would include your own,I would hope?
Joined: 7/31/2006
Msg: 49
Gold-The only safe investment?
Posted: 12/20/2009 1:36:11 PM
The bankruptcy of the United States is now certain

Tuesday, November 24, 2009

From Porter Stansberry in the S&A Digest:

It's one of those numbers that's so unbelievable you have to actually think about it for a while... Within the next 12 months, the U.S. Treasury will have to refinance $2 trillion in short-term debt. And that's not counting any additional deficit spending, which is estimated to be around $1.5 trillion. Put the two numbers together. Then ask yourself, how in the world can the Treasury borrow $3.5 trillion in only one year? That's an amount equal to nearly 30% of our entire GDP. And we're the world's biggest economy. Where will the money come from?

How did we end up with so much short-term debt? Like most entities that have far too much debt - whether subprime borrowers, GM, Fannie, or GE - the U.S. Treasury has tried to minimize its interest burden by borrowing for short durations and then "rolling over" the loans when they come due. As they say on Wall Street, "a rolling debt collects no moss." What they mean is, as long as you can extend the debt, you have no problem. Unfortunately, that leads folks to take on ever greater amounts of debt… at ever shorter durations… at ever lower interest rates. Sooner or later, the creditors wake up and ask themselves: What are the chances I will ever actually be repaid? And that's when the trouble starts. Interest rates go up dramatically. Funding costs soar. The party is over. Bankruptcy is next.

When governments go bankrupt it's called "a default." Currency speculators figured out how to accurately predict when a country would default. Two well-known economists - Alan Greenspan and Pablo Guidotti - published the secret formula in a 1999 academic paper. That's why the formula is called the Greenspan-Guidotti rule. The rule states: To avoid a default, countries should maintain hard currency reserves equal to at least 100% of their short-term foreign debt maturities. The world's largest money management firm, PIMCO, explains the rule this way: "The minimum benchmark of reserves equal to at least 100% of short-term external debt is known as the Greenspan-Guidotti rule. Greenspan-Guidotti is perhaps the single concept of reserve adequacy that has the most adherents and empirical support."

The principle behind the rule is simple. If you can't pay off all of your foreign debts in the next 12 months, you're a terrible credit risk. Speculators are going to target your bonds and your currency, making it impossible to refinance your debts. A default is assured.

So how does America rank on the Greenspan-Guidotti scale? It's a guaranteed default. The U.S. holds gold, oil, and foreign currency in reserve. The U.S. has 8,133.5 metric tonnes of gold (it is the world's largest holder). That's 16,267,000 pounds. At current dollar values, it's worth around $300 billion. The U.S. strategic petroleum reserve shows a current total position of 725 million barrels. At current dollar prices, that's roughly $58 billion worth of oil. And according to the IMF, the U.S. has $136 billion in foreign currency reserves. So altogether... that's around $500 billion of reserves. Our short-term foreign debts are far bigger.

According to the U.S. Treasury, $2 trillion worth of debt will mature in the next 12 months. So looking only at short-term debt, we know the Treasury will have to finance at least $2 trillion worth of maturing debt in the next 12 months. That might not cause a crisis if we were still funding our national debt internally. But since 1985, we've been a net debtor to the world. Today, foreigners own 44% of all our debts, which means we owe foreign creditors at least $880 billion in the next 12 months - an amount far larger than our reserves.

Keep in mind, this only covers our existing debts. The Office of Management and Budget is predicting a $1.5 trillion budget deficit over the next year. That puts our total funding requirements on the order of $3.5 trillion over the next 12 months.

So… where will the money come from? Total domestic savings in the U.S. are only around $600 billion annually. Even if we all put every penny of our savings into U.S. Treasury debt, we're still going to come up nearly $3 trillion short. That's an annual funding requirement equal to roughly 40% of GDP. Where is the money going to come from? From our foreign creditors? Not according to Greenspan-Guidotti. And not according to the Indian or the Russian central bank, which have stopped buying Treasury bills and begun to buy enormous amounts of gold. The Indians bought 200 metric tonnes this month. Sources in Russia say the central bank there will double its gold reserves.

So where will the money come from? The printing press. The Federal Reserve has already monetized nearly $2 trillion worth of Treasury debt and mortgage debt. This weakens the value of the dollar and devalues our existing Treasury bonds. Sooner or later, our creditors will face a stark choice: Hold our bonds and continue to see the value diminish slowly, or try to escape to gold and see the value of their U.S. bonds plummet.

One thing they're not going to do is buy more of our debt. Which central banks will abandon the dollar next? Brazil, Korea, and Chile. These are the three largest central banks that own the least amount of gold. None own even 1% of their total reserves in gold.

I examined these issues in much greater detail in the most recent issue of my newsletter, Porter Stansberry's Investment Advisory, which we published last Friday. Coincidentally, the New York Times repeated our warnings - nearly word for word - in its paper today. (They didn't mention Greenspan-Guidotti, however... It's a real secret of international speculators.)
Joined: 1/5/2008
Msg: 50
Gold-The only safe investment?
Posted: 9/16/2010 7:44:30 AM
Guess us crazy gold people are looking pretty smart these days!
Joined: 5/29/2005
Msg: 51
Gold-The only safe investment?
Posted: 9/16/2010 11:56:13 AM

I'm certain that in the event of a total economic collapse, shiny metal will be highly valued. That's why I'm investing in chrome.
Joined: 12/26/2009
Msg: 52
Gold-The only safe investment?
Posted: 9/16/2010 1:41:42 PM
Guess us crazy gold people are looking pretty smart these days!

Unless you where one of those ones that bought the junk Beck was pitching.

For Glenn Beck's Gold Plated Sponsor, Fresh Scrutiny
Goldline Exec Rejects Customers' Claims Of Rip-off, Warns Government Could Take Away Gold

July 20, 2010

An executive with Goldline, one of two gold companies now under investigation for their sales practices, told ABC News Tuesday morning that his company does not intentionally steer customers toward overpriced gold coins – but he also touted the coins as a safe harbor because "no one knows" whether the U.S. government will seize gold from private citizens.
California authorities investigating Goldline's sales practices.

In an interview on Good Morning America, Goldline executive vice president Scott Carter responded to allegations that his company has made a fortune by persuading gold investors that collectable coins are worth buying, despite a hefty mark-up. He said the firm, which weaves its sales pitches into broadcasts by popular conservative political personalities – including two former presidential candidates and Fox News host Glenn Beck – is simply offering its customers sound advice.

"You should hold this three to five years," said Carter, "preferably 10." He said that some of the price of the gold coins his company sells can be traced to "upfront costs." He noted that his firm had been in business more than 50 years, and earned half a billion dollars, and enjoyed an A plus rating from the Better Business Bureau.

Carter also restated a central point of Goldline's sales pitch – that the federal government took gold bullion from private citizens during the Depression, and could always do so again. That's why the company encourages customers to buy collectable coins instead. "It's hard to determine what the government will do," said Carter. "I don't know whether it's a possibility. But [it] has been done before and people are concerned. Many people are paralleling 1933 to today."

In 1933, the federal government paid market value for private stocks of gold.

Carter's interview comes after the announcment Monday that authorities in California had opened an investigation into Santa Monica-based Goldline and a second gold company based in the same city, Superior Gold Group.

"There are two main types of complaints we're seeing," said Adam Radinsky of the Santa Monica City Attorney's office, which has launched what it described as a joint investigation with the Los Angeles County District Attorney's office.

"One is that customers say that they were lied to and misled in entering into their purchases of gold coins," he said. "And the other group is saying that they received something different from what they had ordered."

In an interview broadcast on Good Morning America, Radinsky said the probe is in its early stages and involves more than 100 consumer complaints about Goldline and Superior.

A lawyer for Superior said the company does not comment on investigations. Goldline officials said customer complaints are infrequent and it responds immediately address them. In a letter to ABC News, Scott Carter said, "When we learn that customers have not received the experience they deserve, we investigate and take action."

In launching the probe into gold sales, investigators in L.A. and Santa Monica are opening a new front in a long-running and very public dispute over the way Goldline has turned the sale of gold into a massive retail operation that capitalizes on popular conservative figures – most notably Glenn Beck.

The marriage of conservative talk and gold sales appears to make sense – both have traditionally targeted an audience that is skeptical of the government, concerned about the nation's economic future, and uneasy about inflation and the stability of American currency.
Joined: 3/8/2004
Msg: 53
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Gold-The only safe investment?
Posted: 9/16/2010 9:10:40 PM far as other investments are concerned...has anyone thought about any other places to place money? How about in salt?

Well, how about helium and phosphate based investments ?

Helium is a paradox: it's everywhere and extremely rare at once. Next to hydrogen, it is the second-most abundant element in the universe, made inside stars. Yet on earth, it is hard to find: produced by the radioactive decay of rocks, most of it comes to us as a by-product of extracting natural gas, mostly in the American Southwest.

The world's largest supply of helium is held in the U.S. National Helium Reserve in Amarillo, Tex., where it was stockpiled for use in military airships in the early twentieth century.

That store is being rapidly depleted, and scientists are worried. With its extremely low boiling point of 4.2 degrees above absolute zero (–269 degrees Celsius), liquid helium is the most important supercoolant used in science. NASA uses it to pressurize and clean rocket fuel tanks.

Its properties also make it valuable for cooling the magnets used in MRI scanners. A helium shortage would threaten millions needing MRI scans in hospitals worldwide.

Liquid helium is also key to manufacturing electronics, creating the controlled environments necessary to make semiconductors. It cools the superconducting magnets in CERN's Large Hadron Collider near Geneva, which smashes protons together at nearly the speed of light.

Scientists have only begun to explore helium's more exotic properties. When cooled down even further, it becomes a “superfluid”— a liquid without viscosity that can do seemingly impossible things, such as flow vertically up walls. Videos of liquid helium climbing up and over the sides of a container can be marveled at on YouTube.

So what would be a more accurate price for a party balloon full of helium? Try $100, says Nobel laureate Robert Richardson, professor of physics at Cornell University.

At that price, the colourful display made by releasing hundreds of balloons would cost tens of thousands of dollars. It would be cheaper to pop hundreds of bottles of Veuve Cliquot.

Just don't let go....

Our supply of mined phosphorus is running out. Many mines used to meet this growing demand are degrading, as they are increasingly forced to access deeper layers and extract a lower quality of phosphate-bearing rock (phosphate is the chemical form in which nearly all phosphorus is found). Some initial analyses from scientists with the Global Phosphorus Research Initiative estimate that there will not be sufficient phosphorus supplies from mining to meet agricultural demand within 30 to 40 years. Although more research is clearly needed, this is not a comforting time scale.

The geographic concentration of phosphate mines also threatens to usher in an era of intense resource competition. Nearly 90 percent of the world's estimated phosphorus reserves are found in five countries: Morocco, China, South Africa, Jordan, and the United States. In comparison, the 12 countries that make up the OPEC cartel control only 75 percent of the world's oil reserves.

Anything based on these, or related to resources/processes that might reduce such shortages impact , might be a good long term investment - especially if young.
Joined: 3/10/2009
Msg: 54
Gold-The only safe investment?
Posted: 9/18/2010 1:37:33 AM
food, gas, drinkable water, bullets, guns

everything else is legos and kleenex

when the system crashes, all your paper wont buy you another second.
Joined: 7/10/2009
Msg: 55
Gold-The only safe investment?
Posted: 9/19/2010 5:16:54 AM
buying anything at a peak is bad. Idont care what anyone sais nothing goes up forever. Who wqould of thought your HOUSE your safe haven and best investment evar....would bankrupt millions.
Joined: 1/5/2008
Msg: 56
Gold-The only safe investment?
Posted: 9/19/2010 6:49:31 AM
Gold will eventually crash. But that wont happen until the Government stops spending and the Federal Reserve slows down the printing press. Currently gold is at $1275 a oz and could go down $50 dollars tommarow. But I personally think the odds of gold hitting $2000 dollars before it goes crashing to below $1000 are good. Time will tell. One thing is for sure that people who got in early have big ole smiles right now.
Joined: 1/5/2008
Msg: 57
Gold-The only safe investment?
Posted: 4/20/2011 6:17:59 AM
From post #56
I'd be impressed if gold can get to $1500 an ounce in a year's time.

Just hit the $1500 mark today buddy(silver hitting $44). It took a little longer then a year (from date of your post) but I hope you are impressed.
Joined: 12/7/2006
Msg: 58
view profile
Gold-The only safe investment?
Posted: 4/20/2011 9:51:16 PM

Just hit the $1500 mark today buddy(silver hitting $44). It took a little longer then a year (from date of your post) but I hope you are impressed.

Impressed? Not really. Gold has been on a bull run for nearly 10 years now, with gold prices closing higher each year since 2002, and nothing suggests that this megatrend is about to change anytime soon. So the fact that gold hits $1500 today is not and should not be much of a surprise. Some day, it will probably hit $2000/oz. But unless we know when, it's useless speculation AND THAT'S THE POINT.
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