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Location: Was Midvalley Oregon; Now Eastside Seattle area
13,075 posts, read 7,519,082 times
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Quote:
Originally Posted by NewbieHere
Haha, I sold my gold bracelet sometime in 2000-2008, when gold was at the peak at the time, I netted $200. Frankly I couldn’t stand the look of it anymore, I wonder why I bought it in the first place.
Quote:
Originally Posted by leastprime
The buy: I was admiring my gold (tone) wristwatch and got carried away.
The sell: Then I was wearing my stainless wristwatch and realized it just told time.
{Both are Citizen Eco-Drive E870, same face, case, & band, but different metal color. Both are purchases from a pawnshop}.
It was hard for Young Ohio Peasant to buy gold, when JDS Uniphase and Lucent were doubling every other Tuesday, and the new Rumpelstiltskin spun with fiber-optic cable. All that glitter.... But then came the 21st century.
I don't buy gold or gold ETFs. I buy miners. If gold goes to $2,300 in 2021, as forecast by many, including Goldman Sachs, profit margins will expand greatly. Many of my gold miners have by-products such as copper and silver which greatly reduce the cost of producing an ounce of gold. Many of these stocks also are selling substantially off their 20-year highs. I'm not recommending any miners currently, as they've all have good runs and I am fully invested. As for stocks well off their 10-year highs, take a look at Yamana (traded above $20 in 2012), IAG (traded above $22 in 2011), etc.
Personally, I like copper miners as much as gold miners, and silver miners (such as
The call option premiums on many gold miners also are superb if interested in a buy-write strategy.
of course,you make a living in gold,as long as you do so in a society which believes gold is a store of value and a medium of exchange,then you fit right in.
I just sold a gold chain I bought in 2015 and made a 40% profit but I have it for 5 years and 8 months,not exactly a great trade,think of the inventory holding cost.
' the gold bugs have come up with every story under the sun as to why gold should go up, and it doesn't,” Parets told Yahoo Finance Live. “In fact, over the last year, you’d be hard pressed to find a worse investment over the last year [than] gold.” '
[...]
' “I mean, literally, you could have bought anything and it would have made money but not gold, you know, so it just really is the worst of the bunch,” Parets added. “And even in commodities, literally every commodity in the world is going up, except for gold.” '
[...]
' “It's really a supply and demand game,” Parets said. “Some people like to have conspiracy theories about gold and [it being an] inflation hedge, and [they’re all just] stories. And so you can listen to those stories, or you can focus on the only thing that's actually ever going to pay anyone, and that's the price of gold,” he said. '
I wonder if BitCoin is soaking up some of the demand for gold.
Pretty amazing that SPY has more than quadrupled in the last 10 years.
Pretty amazing that SPY has more than quadrupled in the last 10 years.
But it did so, from a horrible nadir. Over the past 21 years, the S&P 500 has barely even tripled. Nice, of course... but not quite as astonishingly impressive as the statistic that you cited.
Meanwhile, the more sophisticated gold-bugs seem to be saying, that gold should be regarded as a trading-instrument, and not a buy-and-hold investment. That is, one evaluates one's portfolio at regular intervals - say annually - and sells gold, if it has appreciated (relative to other portions of the portfolio), or buys gold, if it has depreciated.
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