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there are a lot of reasons people buy gold. some people buy gold based on potential demand. the fact that china recently passed legislation that will allow the country's four major commercial banks to sell gold bars to their customers in the near future could bring an increase in gold demand. currently, individuals in China are only allowed to buy gold-backed certificates from the Bank of China and the Industrial and Commercial Bank of China.
Tell that to people who bought in 2003. They are doing a lot better with gold than your funds would be doing for them.
There is no such thing as a good investment or a bad investment. Only good timing and bad timing. AOL was a good investment for MANY people, then it was a bad investment for many people. The only difference between the people was their timing.
Buy gold at retail, sell at wholesale, the broker doesn't care, he making the money. Folks have been trying to time the market for years, very few hit it right.
Some of my friends have bought just enough gold to make their life improve should gold go up and the dollar fizzles out yet not enough that their life style would go down should gold go down.
It's all a common sense balancing act.
I was told this at a very early age and haven't researched it sense. I skimmed but didn't see this addressed. Suppose you buy gold. How do you sell it (eg: when you retire) whether that's 5 years or 50 years from now?
And like most things you type, this is not accurate. Look at post #5.
Wrong.
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Gold has started it's march back upwards since traded resumed at 6pm EST as it seems the last dip is over. Gold trades 24 hours/day but does take the weekends and some holidays off.
I recommend purchasing gold in well known coinage. You gain the benefit, if you do it right, of picking up an additional numismatic value on top of the base value of the gold. An example of this are the American Eagle bullion coins that could be bought at spot in December but which the mint ran out of. The full fractional set could be purchased last month for ~$2125 including dealer premium. Today that same 4 coin set can be sold back for $2300 even though gold hasn't changed price. Nice return.
Buying gold now would be about as smart as buying a home in Phoenix 3 years ago. You are going to loose your shirt. The spending spree in washington is going to come to an end as voters throw the big spenders out in droves this fall. After that the dollar is going to steadily rise and gold is going to fall.
Buying gold now would be about as smart as buying a home in Phoenix 3 years ago. You are going to loose your shirt. The spending spree in washington is going to come to an end as voters throw the big spenders out in droves this fall. After that the dollar is going to steadily rise and gold is going to fall.
You think washington wants to keep spending? They have no choice but to keep spending if they want to keep the economy afloat. As soon as the spending stops everything built on the stimulus and bailouts will fail.
Its a lose- lose situation for the dollar.
1.)Keep spending i.e. stimulus/bailouts and inflation will continue to increase = Gold keeps going up in price.
2.)Stop spending and we are in Great Depression 2.0. for a short while but we will recover if we let the free markets work. There would so much pressure on the dollar that gold could very well go up in price as well anyways.
Obama and Bernanke don't have the guts to do #2, they would rather inflate our way out of this recession. Not good for those holding dollars this is why gold is a good investment right now. I will sell all of my gold when the government stops stimulus/bailouts, drastically reduces gov spending, lets the free markets work and returns to sound money.
The problem is they can't stop spending. Spending at a minimum has to increase by an amount of the interest on the outstanding debt that is already out there. This is how the money is created to pay the interest on the debt. This is the little understood, but essential feature of any fiat money system. The problem of course is this is a description of an exponentially growing system.
Because such outfits don't make their money by buying and holding gold. They make it by buying gold at prices LOWER than the going rate - then turn around and immediately sell it at the going rate.
Ken
It's mind-boggling to me that people would send in their presumably valuable gold jewelry in the mail to some company they only know from TV commercials and trust them to pay them what it's really worth. The only things I can think of that explain it are that people are gullible and that some people are really desperate.
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