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 Replies: 16 / Views: 2,290 |
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Valued Member
United States
410 Posts |
My personal opinion, today is a bad time to buy gold. While gold looks cheap compared to earlier in the year, it is still quite expensive compared to historical values.
Stocks look like a good buy right now. Today you can buy stocks at 2000 prices.
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Pillar of the Community
United States
1348 Posts |
JSH- I agree, I sold most of my gold at $1800 and haven't even thought of buying it back yet.
I do like the stock market also but you have to pay taxes on that :(
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Valued Member
United States
410 Posts |
I guess it depends on how much you are buying and how. For 2012 the maximum contributions are $17,000 for a 401K and $5,000 in a IRA. All my stock investing is tax exempt at his point.
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Pillar of the Community
United States
667 Posts |
More people are now selling their gold than buying.
If you really think about this statement how could it be possible? Ok maybe there could be 10 sellers and 8 buyers, but in that case what do the buyers know that the sellers don't know?
Personally except for a few rookies that bought this summer I don't know many true speculators selling that much gold right now. Granted a few of us did sell some when gold reach over $1,800 but not now.
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Pillar of the Community
Canada
1502 Posts |
for a small time seller like me, I'm actually seeing a lot more buys than sales.
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Pillar of the Community
United States
1812 Posts |
I was forced to sell my gold when the spot price hit $1,140.00 a ounce due too a 13 month long and five figure price it cost for my divorce lawyer, then giving my life savings to my ex to purchase her 1/2 of my home...
That pretty much ended my purchasing any type of numismatic items...
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Pillar of the Community
United States
4008 Posts |
I'm thinking that prices react to the level of buying and selling, so if prices are falling there are usually more sellers than buyers. If prices are rising, there are usually more buyers than sellers.
To not get wrapped up in the numbers of buyers and sellers too much, I try to think of buying and selling in terms of ounces bought and sold. This way I don't need to consider whether there are a lot of buyers and sellers at low sales volumes or a few at high sales volumes.
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Bedrock of the Community
Australia
21788 Posts |
Just kooking at long term price trends.
It seems to me that the gold price may well go quite a bit below $1400 before continuing it's general upward trend.
I am a numismatic gold collector. I am starting to consider that I may be interested in looking for early (pre 1855) British Half sovereigns again.
Very reticent to buy numismatic gold, when the gold price is well above the long term price trend.
Recently, I have been into ancient bronze coins instead.
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Pillar of the Community
Canada
981 Posts |
I sold all my gold at it's high point and will restock when it goes a little lower
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Pillar of the Community
United States
667 Posts |
I sold all my gold at it's high point and will restock when it goes a little lowerSpeculating 101 good move now everyone knows the game plan to be successful. 
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Pillar of the Community
United States
2168 Posts |
Yes that and a crystal ball!
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Bedrock of the Community
Australia
21788 Posts |
Some years ago, I was given 1,100 insurance shares when the Provident Society, of which I was a member, was demutualised into a public company.
I was totally opposed to this decision. I sold the shares because I was not an insurance company investor. I sold the shares at $22. Last time I checked, they were about $4. As it turns out, $22 was the high point for those shares. My anger remains. I have never been a customer of the company.
I had some fun after I sold those shares, I can tell you! It was at that time that I acquired most of the high value coins in my collection, mostly at auction.
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Pillar of the Community
United States
2168 Posts |
Yes I had the same thing happen with shares of Prudential but those have increased in value. Started around 27. Went up to around 90 maybe higher now in 40s. I looked at is as free money so just held hem. They pay a dividend as well. You just never know. Gues for today we both made the right move. They are trying to change the basis from zero to the first day offering frice for capital gains though. Haven't kept up on that
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Pillar of the Community
 United States
5953 Posts |
I find it more interesting that the OP has started several threads about gold and not responded to any of the counter posts. I would also ask where he got his info from?
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Pillar of the Community
United States
511 Posts |
From what I've seen, much of the gold being sold to coin shops is scrap and old jewelry. The same shops are selling a lot of gold bullion coinage.
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Posted 12/29/2011 11:35 am
