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Did you make this all yourself or did you get if from the DH?
I'd say mid 7 figures is between 4 and 6 million. I don't know our exact net worth because I don't know what our house is worth. Zillow has a range between X and 150% X. Kind of makes figuring out what gold is worth seem pretty easy .
My husband and I both made money when we were working. He made more than I did and - so to speak - provided more of the "seed capital". I've been handling our investments since the 70's. At this point - I've made more money investing than he made at work.
Our physical gold is interesting. It was my first lesson in not trying to catch falling knives. I bought when gold was down about 50% from its all-time early 1980's highs - and then it proceeded to fall another 50%. Then it went up. We've held it for about 30 years now - it's a pretty small part of our portfolio - we'd owe a bunch of taxes if we sold - so I reckon we'll just continue to hold it.
BTW - although I trade GLD on technicals - not fundamentals - one fundamental factor in terms of the recent fall in gold prices is the relatively new tax hike on gold imports in India:
If you have gold rings, etc I buy it from you for $500 per oz.... deal? What do you mean no? Its not worth more than that, you said it yourself...
Don't be stupid. Why would I sell to you when I can get 1300 today and maybe 1200 tomorrow? Why not buy gold now? Its very cheap as far as gold apologists go. I will look at buying at 500 to supplement my portfolio. But even at 1350 its too high. I was one who said at 1700 it was due for a huge correction. Now with panic selling it was a horrible investment. If the economy keep improving its going to be a bad investment.
Don't be stupid. Why would I sell to you when I can get 1300 today and maybe 1200 tomorrow? Why not buy gold now? Its very cheap as far as gold apologists go. I will look at buying at 500 to supplement my portfolio. But even at 1350 its too high. I was one who said at 1700 it was due for a huge correction. Now with panic selling it was a horrible investment. If the economy keep improving its going to be a bad investment.
CLEARLY Evilnewbie doesn't understand the word "till".
Too many letters I guess.
You guys are such geniuses it reeks of it... Or maybe it was something else... You clearly said gold is not worth market price but now you say it does.... Let me guess, how much gold is worth is dependent on what you say... You profit buying and selling gold like any other stock but you are under the delusion that the price of gold is dependent on something entirely made up according to you... Ypu probably have the same idea for land prices... Its worthless dirt... Until you say it isn't...
I have gold, Rings, charms, stuff like that. I am not selling.
I am not buying either. I cannot find a buyer to pay market price, and I am not interested in buying at current market price.
jewelry is not an investment in gold. there is to much of a premium for what it is shaped into and not enough value in the gold . local dealers will chew that down even more when you sell a piece of jewelry
I found an article covering exactly who (what countries) are buying up all this gold. The list surprised me; don't know what to make of some of the players.
If any of you gold holders out there think you got a headache when gold dropped sharply this week, consider the position of Russia, the world's largest buyer of gold.
1) Russia. 976.9 Tons of gold. A large portion bought within the past year.
I don't have much of an idea how all this central bank stuff works, and really no idea what happens when large amounts of equity vanish from central bank holdings. But it just doesn't sound like a good thing when you own hundreds of tons and the value drops 10%.
Russia already has huge problems. Their population is dropping; life expectancy of a Russian man is 58 years, and that's disastrous. I don't like their politics, view them as trouble makers and opportunists, but I could see where a financial crisis could create a real monster...
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