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 Replies: 41 / Views: 3,782 |
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Pillar of the Community
United States
2168 Posts |
I agree with silver being the PM that should do the best plus most inexpensive to acquire for now
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Pillar of the Community
 Canada
1502 Posts |
no doubt that PMs should do well in 10-15 years time, as a just in case I find the stability of gold prices to be more comforting.
Premium-wise I'm not too too worried. As long as I don't stray into the numismatic side too much, the premiums can be carried over if he is smart about where to sell.
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Pillar of the Community
United States
4008 Posts |
Consider this... in the past 10 years, gold has risen more than 600% in price. If it only does this well during the next 10 years, it will be in the area of $10,000 per oz. Since it is now becoming widely recognized that the US has a huge debt to pay off, that the politicians seem unable to find a way to do this that is acceptable to both Dems and Reps, that US federal spending is wildly out of control with little hope that it will be reigned in any time soon, and that there are lots of big sovereign debt problems scattered around the world, it would be difficult for PMs to do worse over the next 10 years than they have over the last 10 years. No, there is no guarantee on much of anything these days but the odds are pretty impressive that PMs will do VERY well in the coming years.
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New Member
8 Posts |
Quote:
Consider this... in the past 10 years, gold has risen more than 600% in price. If it only does this well during the next 10 years, it will be in the area of $10,000 per oz. Since it is now becoming widely recognized that the US has a huge debt to pay off, that the politicians seem unable to find a way to do this that is acceptable to both Dems and Reps, that US federal spending is wildly out of control with little hope that it will be reigned in any time soon, and that there are lots of big sovereign debt problems scattered around the world, it would be difficult for PMs to do worse over the next 10 years than they have over the last 10 years. No, there is no guarantee on much of anything these days but the odds are pretty impressive that PMs will do VERY well in the coming years. I hate when people make stupid posts like this without thinking about it first. Gold will never go to $3000 and ounce never mind $10,000. If gold goes to $3000 then every jewelry shop in the United States will be bankrupt as nobody could afford to buy a 10K (less then 50%) gold ring for $400.  |
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Pillar of the Community
United States
2168 Posts |
If all the printed money in the US had to be backed by gold it would cost more than 10000/oz so that post is not stupid.
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Locked
822 Posts |
Quote:
as nobody could afford to buy a 10K (less then 50%) gold ring for $400. Ridiculous. PLENTY of people could afford it. Edited by scubu
11/27/2011 2:18 pm
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Pillar of the Community
Canada
1502 Posts |
unfortunate that a first post by a new member is so ill-informed.
I get this all the time when trying to strike up a PM conversation. "it would never go that high, because it'd be too expensive" is a common misconception. People forget the dollar is a changing ruler to measure with. If and when PMs rise significantly in value against the dollar, $10,000 in dollars will not be worth $10,000 in value today.
I'm wondering though, Ed, if you're long silver or gold in the 15 year timeframe.
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Pillar of the Community
United States
1817 Posts |
Rather than looking at 15-20 years down the road, always look at now and the ratios between gold, silver and platinum. I have done trade offs between metals, the biggest was trading in all of platinum for gold in 2008, and look at the prices now. Silver seems to be undervalued relative to gold, the historic benchmark is 40:1. Good luck and congratulations on the addition to your family.
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Pillar of the Community
Canada
1502 Posts |
Thank you for all the well wishes. Live long and prosper  |
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Pillar of the Community
United States
4897 Posts |
That's awesome!.....Live long in peace!
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Pillar of the Community
United States
4008 Posts |
Awesome pic of the CCF's newest member!  Quote:
I'm wondering though, Ed, if you're long silver or gold in the 15 year timeframe. I like gold... a lot... but am long silver because I think that a higher percentage increase in value is possible there. On most days when there is price movement in the PM markets, silver's price movement is often nearly double that of gold. Yes, it is volatile but possibly more rewarding for all that. I also like platinum and more than gold at the current prices. I have some money invested in the PPLT physical platinum ETF. This is likely a 2-3 year hold and then a sell to realize any profits from this investment at that time. |
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Replies: 41 / Views: 3,782 |
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Posted 11/23/2011 3:39 pm
