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Conflicted About Price Of Gold?

 
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Author Previous TopicReplies: 7 / Views: 202Next Topic  
Valued Member
United States
429 Posts
 Posted 05/12/2022  1:25 pm Show Profile   Bookmark this topic Add howell1018 to your friends list Get a Link to this Message
As I write this gold is trading at $1,825 an ounce. I have a fairly substantial investment in gold (for me anyway) and when I watch the gold price it's like a no-win situation it seems. I'd like the price to drop as I'd like to add to my holdings, but at the same time I see the value of my holdings drop. Anyone else feel similarly?
Also, if you're looking to add to your own gold holdings, at what price will you become a buyer?
Pillar of the Community
United States
4961 Posts
 Posted 05/12/2022  1:32 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I buy gold because it's pretty. I'm not a stacker. I like lower prices as it's cheaper to buy. When I sell will be a long time away so why worry. Most of my money is in the S&P 500 and other low cost investments. I don't look daily at values, maybe in a decade I'll worry about it, but not today.
Edited by hfjacinto
05/12/2022 1:34 pm
New Member
Canada
11 Posts
 Posted 05/12/2022  2:53 pm  Show Profile   Bookmark this reply Add Beaver22 to your friends list Get a Link to this Reply
I prefer buying when the gold price is low, so I can afford more. Gold has recently been falling to the low 1800s.
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United States
111980 Posts
Valued Member
United States
499 Posts
 Posted 05/12/2022  3:09 pm  Show Profile   Bookmark this reply Add cointagous to your friends list Get a Link to this Reply
My opinion is you have to not look at the decline as a loss. It does not mean anything unless you are in the market trying to sell. What you hold is a store of wealth and it's up to you to decide what that is worth. The market will do what it wants in the meantime. Sit back and enjoy what you have.
Pillar of the Community
Canada
1749 Posts
 Posted 05/12/2022  7:37 pm  Show Profile   Bookmark this reply Add pocket change 50 to your friends list Get a Link to this Reply
to the community from another Canuck ! I have yet to get into gold. I wish I would have gotten some in the years I took a break from the hobby started 2017. I'm in silver coins mainly, this year I switched from collector coins to bullion as a hedge. There's still a lot of beautiful designs to choose from as well. So it can still satisfy my itch for artwork, only at a more reasonable price!!

Only I was gobsmacked by such high premiums, even from Silver Gold Bull. As I'm in the middle of no where Alberta. I have done a lot of reading and when I need to sell 10 years down the rd, I will then be concerned. I may luck out and silver I have, will have gone up enough to cash out before. If silver doesn't rise enough in the next 15-20 years, then my son will have a nice inheritance.

I also wonder if price increases aren't directly related to the inflation of the $? I get a knot in my stomach when buying anything, which has been imported from countries, where our $ is almost like a peso! I have watched when gold was over $2k cad. I didn't think it would drop. However everything has cycles of ups and downs. I know people who lost a lot in 1987 and again in 2008 on stocks. Nothing in life is without risk. It's how much risk are you comfortable with?
Pillar of the Community
United States
1437 Posts
 Posted 05/12/2022  10:06 pm  Show Profile   Bookmark this reply Add owatchman to your friends list Get a Link to this Reply
I look at precious metals a as long-term, decades long maybe, investment. Sure, I don't want the prices to go down, but it does make it easier to buy more now.
Pillar of the Community
United States
4250 Posts
 Posted 05/13/2022  07:45 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Price adjusted for inflation, gold is almost $500 an ounce cheaper today than the high just over ten years ago. I've DCA'd along the way.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Edited by fistfulladirt
05/13/2022 07:45 am
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