Is It Time To Take Gold Profits?

depends if you need the money or not.....if your not in need of money id hold it a little bit....the american dollar is not looking too healthy which means gold will still be going up....if you feel like enjoying it a little bit maybe just sell a quarter of it now and hold the rest....entirely up to you, but if I was fortunate enough to have anything to consider a stash of gold id hold for a little bit and maybe sell a little here little there for fun things.....if your looking to dump please don't hesitate to post it here ;) we'd all love to take it off your hands haha good luck with whatever you decide!

Here is the reason for my question.Look at what happened today in gold,it appears that the drop in spot was primarily because the dollar gained strength but the dollar gained strength because the Euro headed down a slippery slope at full speed. In other words,I feel like gold lost value without the dollar really getting stronger. If Greece and Ireland continue to deteriorate,will the dollar continue to get stronger and the price of gold continue to drop? If so,if I take the profit now and the dollar strengthens,I should be able to buy gold cheaper down the road if I need to,if not,I at least haven't lost any dollars in this investment. Now,here is where the economics gets me a bit addled,in that scenario I sold gold which is dropping in dollar terms but start gaining value from the rising dollar. I am hedged that way from dropping metal prices and dropping dollar values. It seems to me to be the best spot to be in with worldwide volatility being what it is. Help me evaluate my economic logic here. This is why I have stayed out of stocks for so long because I don't fully understand the complexities of economics. I just don't want to lose my butt here!

My personal strategy was to invest in the PM s when the price was low and use them to buy higher end coins I wanted when the PM prices went high.

I set a goal of when silver hit 50.00 an ounce, I would sell PM and buy the coins I wanted. Silver kept skyrocketing so quickly, and the policies passed by the congress for the last 5.5 years did not change. So even at 50.00 (awful close to it), I decided not to go with my initial goal.

However, to keep myself happy I did reward myself by trading some of the silver for what I considered a nicer coin. I did it just in time before the last drop. At present prices, I still could not get the same trade I did.

To me, this new addition to my collection is actual, physical, profit in hand. B/c there is no end in sight to the dollar sinking and the economy is still being killed by those in highest position (how's that for being tactful?), I have decided to set a new goal level and sell/trade off then.

Yes, I DO believe I could have done even better with that trade I made a few weeks ago had I waited a few months. But belief and hope is not a physical thing I can show for my investment. If/when the silver reaches my newly set goal (or we get a pro-American government administration who actually wants to see the US economy prosper), this is the time I think PM s will go down. So it will be a trip to the safe deposit box for me to get out what I have and then sell/trade.

Even if I am wrong in al of this... I STILL have the addition to my coin collection I got and came out ahead b/c essentially it was all from profit -aka FREE! And the good part about it is that the coin I got will not lose its numismatic value as time goes on, whereas the PM s might.

If it was an investment, I say go ahead and take the profit. Don't get greedy, no one knows what will happen tomorrow. Play with the house's money, so it doesn't matter if the PMs go up or down, you'll just be playing with profits. If PMs keep going up, you still have half your stash, but if they start going down, you just make less profit. 100% in the last five years is a great return, I'd take it and start looking for my next investment.

I would sell enough to get you initial investment back. The rest of the pm left is the houses money. The pm left is free pm to you. You will never kick yourself for taking a profit but you will be kicking yourself for not selling If the price drops.

BH1964,yeah,Kruggerands,Maple leafs,Philharmonic;s ,etc. Thanks for all of the input guys,I think I am going to hold on for a few more days then sell and look at a down payment on a piece of land outside of town to keep some rabbits,chickens and set up a small orchard. With land prices down I might get lucky. I won't rush into anything.

I would only sell the gold, if I knew for sure gold was gonna drop to say 1200, where I could then re-invest in more gold. Of course, none of us has future predicting ability or devise, minus I think it was (an correct me if I am wrong), Vinnycoins magic 8 ball which correctly predicted the recent fall of silver....

Which ever of you has the 8-ball, ask it if gold is gonna fall or push toward 1600....

I think it is dancin around 1500 for a bit, and is about to push past it for good....

There is a great deal of truth in such a comment. Taking a good profit is never a mistake, IMHO. The worst that can happen to you is that you don't make as much money as you might have made. Selling too late can be VERY expensive, though.

As a long-time investor, I never look back and regret selling something at a profit. We have to make the best decisions we can with the info we have at the time. If that turns out to be too soon, so be it.

Another successful stock investor once said, "I will give you the 20% of profit at the beginning of a bull market and the 20% at the end of it. But I will take the 60% out of the middle".