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Old 12-21-2015, 06:01 AM
 
29,891 posts, read 34,945,207 times
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Lot's of fear and anxiety in late 2008 after the election and the collapse on Wall Street during the campaign. Lots of ads spewing fear and Gold as a solution. Lots of swings in Gold prices after lots of sales folks hawking Gold as your safety out let and security in retirement. With all the swings in prices and different entry points how is this working out for folks? Good decision? Not so good decision? A source of retirement related joy or perhaps grumpiness? Thoughts and stories welcomed.
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Old 12-21-2015, 06:18 AM
 
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no one can predict the future but except for some relatively short time frames gold has failed to keep pace with just a treasury bill over decades .

if you bought your gold back in 1975 for 175 an ounce today the same amount in a mere treasury bill would have been worth more .

i have been trading in and out of gold for years just buying after a big dip and selling the next small rise .

at this point it is far to early for me to consider holding gold as a longer term asset .
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Old 12-21-2015, 06:22 AM
 
Location: Massachusetts
207 posts, read 132,519 times
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Quote:
Originally Posted by TuborgP View Post
Lot's of fear and anxiety in late 2008 after the election and the collapse on Wall Street during the campaign. Lots of ads spewing fear and Gold as a solution. Lots of swings in Gold prices after lots of sales folks hawking Gold as your safety out let and security in retirement. With all the swings in prices and different entry points how is this working out for folks? Good decision? Not so good decision? A source of retirement related joy or perhaps grumpiness? Thoughts and stories welcomed.
I probably posted this quote by Warren Buffett before, but it bears repeating.

Buffett said, "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
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Old 12-21-2015, 06:26 AM
 
Location: Colorado Springs
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Gold is just a rock. But many people think it is money. So its price ebbs and flows with fear. That makes it an excellent trading vehicle.
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Old 12-21-2015, 06:29 AM
 
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in this country we have not had one situation ever that in the long term was not done better by some other asset .
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Old 12-21-2015, 06:30 AM
 
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I am not asking about the value of Gold for investment or retirement purposes but the reality of how it has worked out for retirees or those near retirement. Surely their are those who bought in previous years below a $1,000 or years ago at much lower prices. If they sold at or near the peak they may well be in the Islands on a Winter tour before heading back to their 3,000 sq ft retirement community home. On the other hand there may be those who got in at the $1,400 or higher point and are still holding. How has Gold worked out for those in retirement. If they bought early in the current cycle and sold at the peak they are doing well.
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Old 12-21-2015, 06:34 AM
 
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i would be surprised if there are more then 1 or 2 retirees here who would even buy gold at any point in the past . as you see most are gun shy of even main stream investing .
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Old 12-21-2015, 06:41 AM
 
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Originally Posted by mathjak107 View Post
i would be surprised if there are more then 1 or 2 retirees here who would even buy gold at any point in the past . as you see most are gun shy of even main stream investing .
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
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Old 12-21-2015, 07:03 AM
 
Location: Massachusetts
207 posts, read 132,519 times
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Quote:
Originally Posted by TuborgP View Post
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
What?
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Old 12-21-2015, 07:06 AM
 
72,085 posts, read 72,094,203 times
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Quote:
Originally Posted by TuborgP View Post
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
i trade in and out of gld . that is the only use i have for it .

gold has been about timing the market not time in the market .
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