Gold, lost opportunity?

[thorborg]

I own Gold, but not for profit and why I'm able to smirk at those who looked for gain as their reason to buy. Grumblings from the left who are close to me have extra reason to cry when Trump won, and missed the opportunity to divest themselves of some.. the price of gold dropped from 2800 to less than 2600 already and likely will continue for a while. Some project it could go to around 1700 in the next few years. While it is not good for the value of my gold, I see it as soon to be reaping much more returns in personal economic stability and general increase in quality quality of life.
Ironically, the loss of value for my gold increases my peace of mind. I personally hope Trumps actions will eventually bring the price below what I paid for it.
Then we all will be sitting pretty, Even my left friends, like it or not!

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[Alexx1401]

To buy metals with the idea of making money you pretty much have to really watch the market and of course risk when to buy and when to drop it. I have no doubt a lot of the price drop has been profit taking. People who paid FAR less than it was when they sold and they took the win. Drop a LOT of it on the market and price will drop. Since I did not want to buy gold I bought silver when the price really dropped. Figuring it would be easier to sell if needed. When price started to go up quite a bit did not even really consider selling. Its kept as a hedge. I did finally buy another small amount last week as the place I buy from was offering to sell up to 10 at spot with free shipping. So bought another 10 OZ's. Looking at it the other day if I sold all I have now I would come out several K ahead. Unless something really crashes I will probably still have it when I shuffle off and the kids can worry about it

 

[Mono1]

It's Early Innings.

Tangibles of any kind is where it is.

Gold is just the most liquid form.

 

[Certaindeaf]

It's Early Innings.

Tangibles of any kind is where it is.

Gold is just the most liquid form.

Things perceptible by touch, profit!
I'm all set!

 

[Certaindeaf]

Things perceptible by touch, profit!
I'm all set!

Half of the US's gdp is in online porn, video games and gambling so those dolts are gonna lose, lose, lose!

 

[SerenePuff]

Owning gold is never a loss IMO

 

[gmerkt]

I have a split personality when it comes to wide swings in the price of gold. (1) I don't like to see the value of my stack go down, but (2) Dips may present buying opportunities after periods during which I dropped out of buying due to high prices. So I can be disappointed and glad at the same time.

I don't trade in PM, I own it for the long term as a form of insurance. I got the notion from my dad, who was a silver stacker. He never used nor needed any of his, but he had it just in case.

Gold is coming back from it's recent low and is back above 2,600 when I checked this morning. But then again, it's been up as much as 30% this year, a bit of back-tracking shouldn't surprise anyone, especially in view of volatile political events.

I did make a trade lately. I traded two 1,000 oz. bars of silver for two AGE gold coins. The silver was worth more than the gold, so I also got about $600 in cash, which I wasted on some more guns.

It's doubtful that central banks are liquidating their holdings.

There may be some disappointed FOMO gold buyers who jumped on the Costco bandwagon.

I bought my first gold in 1973. Which I cashed out in 1980 when it hit an historic high. Then I started buying again in 1999 when it was just under $300. At that point, I looked back and thought, "Say, at this level, gold is so cheap compared to what it once was. Maybe it's going somewhere." And it did. I kept it through another historic high and subsequent drop. These secular events come rarely, many years apart. In my opinion, given debt levels and expansion of fiat currencies, I don't think the latest drop is the far side of one such event.

 

[1911Fanatic]

To buy metals with the idea of making money you pretty much have to really watch the market and of course risk when to buy and when to drop it. I have no doubt a lot of the price drop has been profit taking. People who paid FAR less than it was when they sold and they took the win. Drop a LOT of it on the market and price will drop. Since I did not want to buy gold I bought silver when the price really dropped. Figuring it would be easier to sell if needed. When price started to go up quite a bit did not even really consider selling. Its kept as a hedge. I did finally buy another small amount last week as the place I buy from was offering to sell up to 10 at spot with free shipping. So bought another 10 OZ's. Looking at it the other day if I sold all I have now I would come out several K ahead. Unless something really crashes I will probably still have it when I shuffle off and the kids can worry about it

My son buys silver and gold, but he doesn't really sell. When he buys is when the prices hit really low. I have no gold, but I have plenty of silver. Silver in the form of coins going back to the first silver coins that were struck in this country, and some British ones from the colonial days. I have many Silver dollars, and every other denomination of coins up through 1985. Lots of civil war era coins.

My great grandmother and my grandmother collected coins. They will never be sold unless something really tragic happens to the family. My grandmother was a shrewd collector. There are a couple of rare Pennys in there that are worth thousands. My mother never sold any of them, as by the time she inherited them, she didn't need to. I shouldn't need to either. They will pass to my son when I'm gone, and I hope he's smart enough to not lose them in a divorce when I'm gone.

 

[Hanhoon]

I guess if you have a coin shop or sell metals as a business, you can make money?

People buy gold and silver for insurance. My friend sold roughly 3 ounces of gold recently. He had a one ounce bar and several smaller coins, I wanna say little gram bars and a few 1/10 oz coins. He probably paid $4500 ish when he bought them years ago and he sold it for $7200 (he had paid $1320 for the one ounce gold bar).

Gold needed a correction and that's what happened when Trump was selected, oh sorry I mean elected. When the prices dipped, that was a gift for the stackers. Last week gold was $2563 and now as I type this, it's $2623. Trump wants lower interest rates and a weaker dollar. Having said that, I think gold will go up more.

A lot of people poo poo gold but gold is a tier one asset and there is a reason why countries like Russia, China, India, and Turkey buy it. The banks buy it too lol. Speaking of Russia, I hear they are interested in purchasing silver too.

I am not licensed to give financial advice, but if I was asked, I would strongly suggest people buy some silver. If the average person is living paycheck to paycheck, gold is not gonna be affordable unless you want to buy a gram here and there.

I have no experience with stocks and cryptos so no comments in that department from me. I am a physical kinda guy and If you don't hold it, you don't own it. YTD gold is at +$635. So let's say last year at this time gold was $2000 per ounce.lets say you had $4000, you bought one ounce and deposited $2000 in your savings. In one year, would you be better off with that one ounce of gold? Or the money you have in your savings with the interest you earned on that $2000?

if anyone thinks gold will sink down to $1700/oz, please tell me why and how as I am very interested to hear.

 

[gmerkt]

My great grandmother and my grandmother collected coins. They will never be sold unless something really tragic happens to the family. My grandmother was a shrewd collector. There are a couple of rare Pennys in there that are worth thousands. My mother never sold any of them, as by the time she inherited them, she didn't need to. I shouldn't need to either. They will pass to my son when I'm gone, and I hope he's smart enough to not lose them in a divorce when I'm gone.

When my dad's mother died in 1958, I was given her little box of weird coins that she'd saved over the years. Nothing really valuable in there. Some US 2 cent pieces from the Civil War era. A copper laundry tag. Some as new zinc plated steel pennies from WW2. And a number of foreign coins from the Far East that sailors left behind in rooms that she rented out. The usual common Indian Head pennies.

One of the things a sailor left in a rented room was a canvas ditty bag. I still have it. I used it to carry fishing tackle when I was a kid. Decades later as an adult, I noticed it had the sailor's name stenciled on the side. I was able to look him up online; he's buried in Arkansas.

 

[gmerkt]

if anyone thinks gold will sink down to $1700/oz, please tell me why and how as I am very interested to hear.

I stopped buying at $1,800. Waiting for a drop in price. We know how that worked out. I think it retraced back to somewhere in the $1,700's since then, but only briefly. And at $1,800, I didn't do much buying then either. Most of my stack was bought at much lower prices and I swallow hard at the upper teens, even. BUT: There may be times ahead when paying more will seem prudent.

Trump wants lower interest rates a

Because he's a businessman. Or poses as one, anyway. Several of his businesses have declared Chapter 11 bankruptcy over the years. But maybe that's just a smart business move, getting debts canceled out. Anyway, businessmen want low interest rates so they have to pay the least amount they must to borrow money. So this is a natural outlook for Trump.

 

[gmerkt]

Today a breath-taking drop down into the 2,500's but closed in the 2,600's. The instant news dynamic bats values around like a badminton shuttlecock.

But something of potential way greater interest was this story:

Reviving The Gold Standard: Judy Shelton's Proposal For A Gold-Convertible Treasury Bond - USAGOLD

Judy Shelton, a long-time advocate for sound money, has proposed an innovative approach to reintroduce a gold standard for the US dollar. Her plan involves

www.usagold.com

A very long bond, to be sure but a step in the right direction. Note her comment that the US Treasury values the US government gold stockpile at $42.22 the oz. Which undervalues the stockpile at something over a factor of 60 at current prices.

 

[The Heretic]

Goodbye to gold in the US - Germany, France, and the Netherlands pressure the United States to recover their gold reserves amid growing financial tensions

Europe wants its gold back, yes. Europe has started to doubt the stability of our country. For years, the United States has been guarding European gold, but

unionrayo.com