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 Replies: 17 / Views: 2,123 |
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Pillar of the Community
United States
1083 Posts |
I could have bought a one oz Kruegarand at my coin store today for just $12 over spot, or about $980. They buy them back at $18 over whatever spot is at the time. I am tapped out for anymore expensive collector coins right now, but I am sorely tempted to get into our energency stash of cash and buy a few Rands just for speculation on the price of gold and than try and make some money by selling them back in the short term. Any guesses on how high gold may go and how soon? Edited by okie-colin
03/05/2008 6:53 pm
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Pillar of the Community
United States
1130 Posts |
If I knew the answer, I'd be a rich man  And buying (or selling) lotsa gold and silver. |
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Moderator
 United States
187702 Posts |
If I knew the answer, I would have retired years ago! My guess is that gold has not peaked yet and short-term gains are possible. I would not be buying gold for the long-term now, because I feel it will pull back once our economy recovers. For the record, I am a long term investor; no, I do not invest in coins! This is just MHO, YMMV... < insert standard disclaimers here> |
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Valued Member
United States
85 Posts |
Interesting timing. I just spoke with my financial planner today, and was discouraged from buying right now.
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Valued Member
Ireland
498 Posts |
No money if I have, I will go with Oil,Gold and Grain or cured meat before pest or plaque take them.
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Member
United States
3242 Posts |
I am no planner but I think you missed the boat May 2007 when was still $475-500.00 so your planner maybe right?
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Pillar of the Community
United States
6326 Posts |
Yeah.......I'm not putting my hands on ANY more gold until it's much cheaper ! But that may not happen for quite some time it looks like......who knows what to do ?
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Valued Member
United States
226 Posts |
Investing in gold or any precious metals is very similar to rolling dice. Events around the world can make for rapid price changes in either direction, for example how the situation in Africa has effected platinum prices. base metals (copper, lead, aluminum,....) have also been on the rise due to increased demand for raw materials in china. However, to answer your question, I feel that short term gold and silver have potential to gain value, but as JBUCK stated when the economy begins to recover, gold prices will definitely decline.
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Pillar of the Community
United States
2049 Posts |
Did I miss something? You said you bought this at $12 over spot, but the same store buys them back at $18 over spot? So in theory you could keep buying them and selling them and making $6 per transaction right?
To answer your question though, I have heard so many theories on what people think will happen. Some people say once it breaks $1K, it will shoot up to $1500 or $2000 but I am not 100% sure I believe that. Otherwise I would go and take money from savings to load up on a few of these. Good luck with whatever you decide to do!
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Pillar of the Community
United States
2049 Posts |
quote:
I feel that short term gold and silver have potential to gain value, but as JBUCK stated when the economy begins to recover, gold prices will definitely decline.
I agree...but how much short term gain there will be is hard to determine and what the timeframe is as well. Alot of people I have spoken to about this seem to think the economy will be bad for up to another year. |
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Pillar of the Community
United States
533 Posts |
Unless k-rands are all that they have I would buy a Maple Leaf or a AGE. K-rands are only like 85% gold, where an Eagle and a Maple Leaf are .999 fine. If you want to speculate on the price of gold, go for it. It will go higher eventually. That being said I wouldn't placce my life savings on it.
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Pillar of the Community
United States
1984 Posts |
Wild short term swings happen in the gold market, I would not recommend using emergency funds for such a speculative risk. Even though the long-term trend is up, you can and will get caught in a downdraft.
How much risk are you willing to bear? Would you sell if gold suddenly went down 15-30%?
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Valued Member
United States
60 Posts |
AGE's are only .9167 pure. Gold Buffalo's and Maple Leafs are .999 pure.
Edited by ouzo66
03/06/2008 10:32 am
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Bedrock of the Community
United States
12437 Posts |
quote:
K-rands are only like 85% gold, where an Eagle and a Maple Leaf are .999 fine.
Nope, Krugerrands are .9167(22kt), Maple Leafs are .9999(24kt), Gold Eagles are .9167, and Buffalos are .9999. The fineness is largely irrelevant though since the important fact is the quantity of gold, the main coins for investment purposes are 1 troy ounce. Eagles and Buffalos have a higher buy/sell price than any other bullion coin since they are the preferred gold investment vehicle. K-rands are usually the closest to spot price. |
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Valued Member
Ireland
498 Posts |
Very nice info.
For me I'm little confident if I have a lots of gold if I can have some.
Others can accept it as a payment maybe upto 50% of what others paid for it.
2007 many things did happen for just one year on 2008 I dont know.
But others have planned 5 years or 10 years or century depending on a bussines or a country.Its better to planned for one year for many things can happen.
Before and after winter the oil increase due to the weather even in the event of global warming,winter snap do happen.
Many times Ive heard that era of cheap food is over.
On summer the harvest of grain is affected due to the rainy season and it is written that the grain will be cursed on the last days.thats in the Revelations,just on what I know for now.
How good is US to introduced GMO in that scenario.
And grain is used for feeds for livestock.
Both raw material for basic commodity.
A problem on the base that is basis commodity.
Production jobs and oil for genarating goods and commodity and still have a problem.
The dollar lossing its value.
A problem on the top,middle and bottom.
Thats is my problem,how to prepare for it.
Edited by josie
03/06/2008 11:33 am
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Pillar of the Community
United States
533 Posts |
quote:
Nope, Krugerrands are .9167(22kt), Maple Leafs are .9999(24kt), Gold Eagles are .9167, and Buffalos are .9999. The fineness is largely irrelevant though since the important fact is the quantity of gold, the main coins for investment purposes are 1 troy ounce.
Ah-ha! Thank you for the clairification bio.  I love this forum, I learn a few things everyday! |
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Replies: 17 / Views: 2,123 |
Posted 03/05/2008 6:58 pm
