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gold is gearing for a boom.
You can see the commercials and the experts talking.
Even people on forums 'pushing' the commodity.
This usually signals a boom is coming.
When you hear repeatedly the terms "gold at 1,200 and 2,000 coming" or "1,400 and 2000" then you know what will happen.
Gold will shoot to 1200 or 1400, depending on who said it...but crash and never make it to 2000.
Oil did the same exact thing.
A year of 'oil is going up' talk...and then goldman or lehman said 'oil at 150' and then it was 'oil at 200'
Oil made 147 and then crash straight down to 33.80 dec 19th.
Big surprise..? Not really.
I think buying gold is a short term gamble (just like any short term gamble) and can be profitable. If you buy a million ounces and it goes up 50 cents and you sell it, you made some money.
Long term makes no sense at all. But if you have to buy it, buy it when it goes back down to 100 or 200 an ounce...then twenty years later you can sell it for 2000 an ounce in the next boom.
May sound good, but I think I can make more money using that cash some other way.
Gold at 894 this morning...you just lost a ton of money on your gold you bought at 901...
Location: where you sip the tea of the breasts of the spinsters of Utica
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Quote:
Originally Posted by Thatguywho
I think buying gold is a short term gamble (just like any short term gamble) and can be profitable. If you buy a million ounces and it goes up 50 cents and you sell it, you made some money.
...
I've never bought gold, but I think I heard that you have to pay the dealer something like 10% to buy it, and then another 10% to sell it ..... that's the actual physical metal. I don't have a clue about paper methods of buying gold.
If that's true, then it wouldn't be a good short-term investment unless there's huge volatility.
Look, it's game over for the Fed. They are about to buy long term bonds. That's where the inflation starts to kick in as the Fed must print money to buy Treasuries.
Gold is going up, and the Dow/Gold ratio is eventually hitting 1:1. It's at 9:1 now, way down from the high of 40+:1.
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