Buy gold: yes or no

Now that Father Time has taken his inevitable course, and gold is trading at $1390 an ounce and silver at $28.73 (according to KITCO [http://www.kitco.com]), what are peoples thoughts about gold and silver bullion now? Still too expensive, risky, volatile, inaccessible? Or are you kicking yourself for not gambling back in January and missing out on a 23% gain on gold and a whopping 55% gain on silver?

-- Matthew


I have not bought gold.

If they are advertising all over the TV I figure they are doing that for their benefit not mine.

IMHO the time to buy gold has passed.
 
My personal observations have been that the worst time to enter a market is when it's already "hot". If a bubble bursts after you jump in, you can loose big.
 
I'm sorry, but the first thing that popped into my mind about the delivery of the gold coins in front of a paying? audience was . . . how convenient.

You are 100-percent correct when you say investigate the credentials of anyone you're going to take financial advice from. My addendum would be, immense wealth doesn't always indicate wise investing or money management. It could merely be the P.T. Barnum philosophy at work.
 
My advice - buy toilet paper - lots of it. No matter how bad things get, people will always need toilet paper. ;)
 

I'm sorry, but the first thing that popped into my mind about the delivery of the gold coins in front of a paying? audience was . . . how convenient.

You are 100-percent correct when you say investigate the credentials of anyone you're going to take financial advice from. My addendum would be, immense wealth doesn't always indicate wise investing or money management. It could merely be the P.T. Barnum philosophy at work.

True, but if you've ever attended a Tony Robbins seminar, read his books, seen an interview or one of his infomercials, you know how deliberately splashy & sensational he is. Since Steve & I learned from Tony, it followed suit that Steve leaned some of his sensationalism from Tony.

Learning how to trade in the stock market, which is what we were there for, not how to buy gold, from the wrong person can be a real snoozer.
sleeping.gif
Managing money is one of the things we need to learn the most about, and learning from the wrong person can be detrimental if you are asleep through most of it or don't retain it. Both Tony & Steve have learned to be splashy, so people remember crucial details later. I wouldn't have even been in this thread conversation originally if buying gold hadn't been deliberately impressed upon me to retain. That wasn't what I was there for. For example, how many kids can recite everything that happens in a Disney movie, down to the dialogue and smallest details - after seeing it once - yet can't remember their addition/subtraction tables after going over them multiple times? :scratchin Something to think about. How one learns can really make a difference.


However, I DO know that Steve did buy the house he was negotiating during that seminar. It was a multimillion dollar foreclosure, as the poor guy he was buying the house from, never learned to manage his money correctly and bankrupted himself. That guy was great at making it during the big financial dotcom boom. Then spent it all unwisely. The house was the latest casualty to go. :sad1: :sad2:

The thing about working for the same company as one of the people you are learning from is that you can check through other mutual sources who know that person well, what that person's true integrity & credentials are and what his real situation is behind all the glitz. I also know other people who use the same trading strategies successfully. We all are doing fine, even in an economic downturn. I'm not a millionaire yet, but working on it. princess:
 
I so agree with this, but this is my problem: I'm not thinking of buying gold as an investment with a return, but as insurance against the dollar failing miserably.

If 5 years from now the dollar is worth 50 cents of today's value, and gold goes up a large percent, it'll compensate for the 50 cents I've lost per dollar if I put the cash in a savings account. Thoughts about that?

ITA!

I'd buy silver. Think it will still quadruple from now within a year or two..

People are discreet about buying precious metals.

Coloradogold.com mails metals through Postal Service.

Local coin store a good source but don't buy for numismatic value unless willing to study what is really collectible and not fall for Beanie Baby type value listings. Also sell some back just to find out who pays honest prices.

Shadowstats.com tracks inflation both with new modified ways and old ways.

Also can invest some of IRA in precious metals Mutual Funds.
 

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