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I got some gold and I was wondering if I should sell. In September, they forecast gold would hit 2,000$. Needless to say it did not. Just read another forecast yesterday that basically said the average price for gold won't change much in 2013 and 2014. I think it was around 1750. I'm not sure what to make of it. Have not been following gold forecasts for that long, so I can't say if they're usually off or if the 2,000 forecast was just one bad forecast or if that's very common.
Just did a quick google search and this forecast isn't that much better.
I got some gold and I was wondering if I should sell. In September, they forecast gold would hit 2,000$. Needless to say it did not. Just read another forecast yesterday that basically said the average price for gold won't change much in 2013 and 2014. I think it was around 1750. I'm not sure what to make of it. Have not been following gold forecasts for that long, so I can't say if they're usually off or if the 2,000 forecast was just one bad forecast or if that's very common.
Just did a quick google search and this forecast isn't that much better.
Sell Sell SELL!!!!! Gold has done nothing for the last year and a half. You hear all the usual crap about its the only real money and it will go to 5k bla bla bla. But as the economy improves gold will take a hit and as it drops the fund managers will start to sell and you could see a big dump in price. Sell now and you will not regret it. Don't worry about if some hitch makes it go up another 75 bucks and oz. You can't know where the top is. And we may be in it. I would keep a small amount very small. Sell the rest and invest in blue chip stocks where I am betting there will be a rise in value. I am up 7k just in the last two days. I would be a gold buyer at maybe 500 to 750 and oz.
The gold nuts will laugh but so did the idiots who laughed when I said I would be a buyer of Apple at around 500 when it was 750 and looked to keep climbing. I bought at just over 500 and its doing nicely.
I wouldn't want to be holding gold right now. Some members of the FED were talking about dropping QE and if they decide to stop QE then gold will plunge. If the economy continues to improve then gold will continue to decline. There may not be anything to push the price of gold up but there will definately be something pushing it down.
the truth is no one knows. just like the experts and guru's who called the demise of the bond market when qe1 ended.
it soared for 2 more years.
if the economy does better inflation could heat up and that could be good for gold especially if the dollar weakens.
no one can predict whats next.
as far as how much gold to hold? it all depends on the company it is keeping.
long term treasuries and gold can require big positions in gold to carry it through . the permanant portfolio uses 25% gold to offset 25% cash and long term treasuries.
on the other hand i would not go more than 10% or so if i was pairing gold and equities.
You can argue back and forth all you want about gold, but I follow the simply investing theory of "But low and sell high". With gold much closer to it's historical highs than it's lows, I'd sell and roll the funds over into an undervalued stock like FCX, F, BAC or even AAPL.
Thinking back to when oil hit the rocks at 13 a barrel back in the 1990's i sold it at 24 proclaiming bubble.
Well i learned my lesson about calling bubbles and whats low and whats high in commodities when it went on to break 140.00.
I'm right there with you. I bought GLD at $70 and bailed at $85 thinking it was going to crash
Yeah..I made some money but geeze..what I gave up because I chickened out (first foray into the commodity area even if it was an ETF).
I have about 5% in gold, plat & silver. All bought in the 80's & 90's. I started liquidating a portion of it in 2010, I then reinvest the proceeds, will continue to do so in 2013, I want to stay at or below the 5% mark.
I have about 5% in gold, plat & silver. All bought in the 80's & 90's. I started liquidating a portion of it in 2010, I then reinvest the proceeds, will continue to do so in 2013, I want to stay at or below the 5% mark.
Portfolio management and keeping a certain % in your portfolio is key. Ride the wave up, selling little by little and reinvesting into other assets like equities and bonds, then when those do well and gold goes down, sell the assets and buy some more gold.
Keeping a ratio will iron out some of the bumps.
So to the OP, either you can keep the gold and just buy equities to suit your desired portfolio holdings, or sell some of the gold and do the same. Up to you.
One thing is for sure I would NOT do is do all gold (or 100% of anything).
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