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 Replies: 43 / Views: 5,876 |
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Rest in Peace
 United States
4849 Posts |
Quote:
I disagree. Gold record high: 1980, at around $850/toz. Did not see that price until Nov 2007. That record was beaten frequently until Mar 2008 at around $1020/toz. Did not see that price until Oct 2009. That record was beaten frequently until mid Nov 2009 at around $1220/toz. Not beaten until May 2010. The point is, that at each of these records, there was a good sized span in which you would have lost money had you bought at record highs, (1981-Nov07, Mar08-Oct09, Nov09-May10) Even if we only count the last 5 years, you have only about 9 months (15% of the time frame) where you would not have lost $. The difference between us is that you're looking short term, I'm looking at long term. I bought most of my gold during the "record high" of $900-ish several years ago and have held it since. No one would tell me at this point that I purchased at the wrong time(although I definitely could have purchased at a better time). There have not been any substantial declines in the last few years, and overall trend is up at this point; no denying it. When the overall trend is downward, then I will agree that the last "record high" was the wrong time to buy. It's all perspective. Edited by johnny54321
06/17/2010 1:19 pm
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Rest in Peace
United States
4849 Posts |
Quote:
Even if we only count the last 5 years, you have only about 9 months (15% of the time frame) where you would not have lost $. I'm not following your math here?  It all depends on which record high your looking at compared to the trend data from that point on. Edited by johnny54321
06/17/2010 1:17 pm
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Pillar of the Community
United States
3294 Posts |
I am saying if you are looking in that 5 year time frame, there have only been 9 months of climbing up from the latest record highs.
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Rest in Peace
United States
4849 Posts |
If you bought gold during the record high in the early 80s, then sure; there was a much larger timeframe where you would have lost money as opposed to having made money. However, all of the latest "record highs" have been followed by longer time periods of incline than decline. Having bought at the record high of $900 in 2008, you can see that I would have been more likely to make money than lose it if you took the ratio of days when gold was >$900 to when gold was <$900 since that point.  I guess we will have to agree to disagree.  |
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Pillar of the Community
United States
2049 Posts |
If you bought an ounce of gold at $900 and it's now $1250, you haven't gained anything until you sell it. If you bought an ounce of gold at $900 and it went to $600, you haven't lost anything until you sell it.
I think too many people concentrate on the price of gold and their "gains" or "losses" but at the end of the day you still have the same amount of gold if you haven't sold it. Personally I don't buy gold hoping to make short term gains although I know it can be done. I am buying it as a hedge and a longer term savings vehicle.
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Pillar of the Community
United States
1055 Posts |
 With the CoinHunters comments. Once you have the gold in your posession you have not gained or lost anything until you go to sell. If you buy at $1,000 and it drops to $500 then goes up to $950 it does not mean that the person holding the gold has lost $50 and bought at the wrong time, it just means if they chose to sell at that exact point in time they would be out $50. I think most people who have gotten swept up in the gold hype phase are those who are looking for a quick buck, buy a bunch of gold and are looking for a fat profit 2-3 months from now, not really realistic. From a long-term prospective I feel like you still cant go wrong buying gold, esp. as a hedge against the declining dollar and the gobs of debt the US govt. is in. |
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Rest in Peace
United States
4849 Posts |
Quote:
From a long-term prospective I feel like you still cant go wrong buying gold, esp. as a hedge against the declining dollar and the gobs of debt the US govt. is in. I agree with you guys. The longterm trend is on it's way up. I have been holding for several years, and intend on buying more when I can regardless of whether or not it is at it's current "record high". |
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Valued Member
United States
199 Posts |
I have been buying for quite while,for long term.What happens if the Dollar completely tanks?It Could happen,especially with printing 24/7.I think there will be a slight defaltion of the Dollar,which is happening right now,then a HUGE infaltion.I think gold will top $3000 an oz. by 2015.Maybe sooner,we will see....
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Valued Member
United States
118 Posts |
quick question guys, I'm thinking of investing in an oz of gold and there are so many different countries producing them. I'm interested in pamp suisse I know they have a premium over spot.
which one would be the best if there is one.
thanks a lotttt!
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Rest in Peace
United States
5375 Posts |
Its probably a better (and much more fun) money making strategy to cherrypick nice variety coins from auctions. I don't like playing precious metal markets, but I guess it does serve as a good store of wealth; when I'm really desperate for cash I can sell some silver for 5% under melt and people are all over it.
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Valued Member
United States
199 Posts |
If you buy foreign coinage,the gov. can't take it from you,if they tried a redux of 1933...
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Pillar of the Community
United States
3294 Posts |
Not true, the government can take whatever it can find. They were not just taking US coins away in 1933, but bars as well. |
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Pillar of the Community
United States
2335 Posts |
Ya'll keep talking about "long term" with regards to the upward trend in gold prices, & then show a chart that goes back 4 years. To each his own but IMO that's not long term. Compare that chart to a 30 year chart & it shows a completely different picture.
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Rest in Peace
United States
4849 Posts |
Quote:
Ya'll keep talking about "long term" with regards to the upward trend in gold prices, & then show a chart that goes back 4 years. To each his own but IMO that's not long term. Compare that chart to a 30 year chart & it shows a completely different picture.  Ok, How about 36 years? Interesting that you picked 30 years, because that is the point in which I agreed in this thread that purchasing gold would have resulted in a loss. How about 27 years? or 33 years? |
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Pillar of the Community
United States
3294 Posts |
Doesn't look too bad until you consider inflation.  |
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Replies: 43 / Views: 5,876 |
First Page
Posted 06/17/2010 1:05 pm
