Does Anyone Here Not Even Want To Deal In/With Gold?

Two words. Same here. I am not sure what to think.
Whenever I look at something that looks like this I get utterly scared:



I believe there is a serious hype about Gold due to our terrible economic condition.

Now, don't get me wrong, I am politically independent for the most part, but when I hear people like Glenn Beck advocating for anything, I stop and think. When I am done thinking I turn 180 degrees, think some more and then I think some extra. Then I think some for grandma and grandpa. Currently, I see gold prices as artificially inflated and the same seems to happen for Silver. It's the big investors who make a buck with it because there is actually enough movement that they make millions off a small change.

Lets say you had bought 10 Kilo Bars in 1973 and dumped them on the market in 1980 at something over $800 you would have made a mighty dollar. You could have put your cash under your bed until 1983 just to buy back into gold and then sat tight until it hit 1000. The part of the chart after 2008 is what scares me because it looks unreal. The climb is too steep and I happen to remember my uncle who had a whole bunch of kilo bars sitting in his home safe. I was a kid, had no clue, and my eyes sparkled.

I differ between "all in" and "all out" short term speculators and those who actually bought it with the intention of having it as a long term investment. Right now there is too much movement, too many little people buying into the stuff with no realistic intention to hold on to it. So, my gut feeling tells me it's bound for a correction within a few years, because right now it's driven by fear and distrust. People's eyes will sparkle and a lot of them will cash in.

For me, Gold is a long term investment, my Uncle put it this way: "You buy it, put it away, and forget about it! You never look, you never kiss it and you don't touch it, because one day you can dump it." These days, Gold is definitely out of reach for people with little to no disposable money to invest. If I had $1700 dollars to put away right now, I'd put it in Silver, Copper or something else, even though I think Silver is overpriced, as it's the poor mans Gold. There is simply more movement than the commodity can handle right now. Buying in right now seems dumb. When too many people want it, it's time to take a step back because it's a fear driven issue. When people finally realize that the world is not going to end, things will settle, and then is the time to buy a big chunk and sit on it. Historically, our politicians ain't getting better (you can't shake hands with any of them, because you need to have both your hands on your wallet when one is around) so there is hope that the constant hypes will continue. One day it's going to pay off, if you wait today.



I believe we are headed for an equal situation with copper, it's already selling at astronomical prices for those who think it's going to explode. If anything, you can benefit from people's stupidity and short breath when it comes to investments and buy into it. It's coming!

Yup barryg, I can definitely hear you for feeling stupid for not having bought. Heck, I am suing my mom, because I wasn't born before 1973! I am not an investment guru, but when I look at charts I look for a median. You take the tops and bottoms, all the bottoms build the baseline you'd like to buy at, all the tops build the topline you'd like to sell at. Realistically, we're looking at gold in the $5-700/ oz range and silver is probably a $20/30 commodity. Buying at $40 seems dizzying and if I have to, I'll buy Silver Eagles, because they are collectibles more than they are silver coins. When I buy them, I look at what I pay for them and instantly know that I will not let them go until Silver hit's $60+ per ounce.

I'd love to hear others opinions on the subject, as I am young and just sharing my farmer smarts when it comes to this stuff.
For me, PM's are two-folded. You can buy them for yourself, or you can buy them to speculate on hypes and peoples fear.

This fear is bred by the political idiocy and who's president right now. The gold hype started when people picked up on the failing dollar and the fact that our politicians could not run a lemonade stand for more than a week without getting in trouble.

Not bad analogies, actually.

BTW you may wonder what the heck I know about markets? I will be the fist to tell you not much. However everything I do every day depends on the commodities markets. The corn, grains, wheat, milk, beef and even the darn fuel I buy. I stinks when you don't control a few things in life but ty not controlling 100% of it.

You go to work and get a paycheck as long as your company doesn't close.

I start the year off in the black did everything I was suppose to do and we even had the right rain then the market falls and I am in the red. Yes in the past I have mowed entire fields because it was cheaper than harvesting. However If I was afraid to play then a lot of you just wouldn't eat, after all if we didn't take risk who would grow the food.

I deal in real life were a mere .10 cents can make or break your year. Guess right and you had a good year. Read some darn charts with lines on then you are sure to call the market wrong.

cfibaker reminds me a lot of Joe316.

Gold is getting scary. I think I might divest myself out of some gold holdings to try and shore up my silver.

"Not now", For you not ever as you missed the boat ;-)....

Actually Joe is big on gold, low on silver, lol....

I am glad many look at their charts an over analyze. Worry about premiums, etc., as that is more gold for me to buy....

The people running the world now, will see to it gold never looses its value again, simply for the incompetence that makes up their total being as a whole....

Back around 1400 an AGE was common at 175, an now it goes for 215 low end, 250 proof high end, so what its a bit more....

The Half Eagle I purchased close to low 400, would now bring around 600 a month later in its current condition....

Sometimes the hardest thing to find on a clear coffee table, is the item you are looking for which sets dead center right in front of your face. Like gold, it has always been there, sometimes forgotten for a bit an swept under the rug, but it never went anywhere, and I will be willing to bet it will shine brightest in the long run, as the economy continues to fall,population numbers increase, natural resources run out, current C an D grade inter-structures like dams, bridges, an Levy's crumble and so on....

Of Course if you don't invest in gold, silver is the next best thing IMO as well....