Posted on 11/28/2015 11:20:36 AM PST by BenLurkin
You three yeas ago today.
Gold Prices Sink on Global Economic Concerns
Gold prices tumbled Wednesday as uncertainties in the United States and Europe were stoking the biggest selloff since early November.
Gold for December delivery dropped $25.80 to settle at $1,716.50 an ounce at the Comex division of the New York Mercantile Exchange. The gold price traded as high as $1,743.10 and as low as $1,705.50 an ounce, while the spot price was slumping $26.20, according to Kitco’s gold index.
http://www.freerepublic.com/focus/f-chat/2963814/posts
Anyone who invests in silver as "insurance" should be obligated to post here when they begin to starve. (Although I understand that their internet connection will be the first to go--maybe they can post from a public library and give us updates?).
They're still here, they don't call themselves 'goldbugs' of course, they instead lean more to the description "investors whose portfolios include a metals hedge". I'm willing to make peace with that viewpoint because at least we don't have to listen to nonsense about the price of gold has to soar because they don't make it anymore etc...
If there is a true collapse, currency will be silver coins and 22LR.
Both are easy to hold, both are easily recognized as valuable and neither are, in small quantities, worth killing over.
Gold as a reservoir of value will work after restoration of society, but for that purpose, I think land is a better store of value.
I buy rolls of silver quarters here and there as insurance. Because of the mark up over spot, I’d never consider them an investment.
They do sound pretty when they clink together.
Insurance, sure. Investment, nope.
Probably bought gold at $1600/oz., because Glenn Back told them to, and they don’t want anyone to know.
About where I'd put it too.
Over the past half century the average price/gold in 2016$ has been below $800 so we'd probably be best off looking at a dip to more like say, $400 before it wanders back up.
That's the wrong way to judge the price of Gold. You'll be much more accurate in your prediction of future price of gold if you compare its price in relation to other commodities and goods and services on an averaged basis.
It's the price of a good suit principle, if I may, with a long history of correlation.
woo hoo!
It’s been hard for investors to make money this year. Both the Dow Jones Average and the price of 10-year Treasuries have fallen since January 1st.
However, those who sold gold and bought U.S. dollars have done very well.
Unfortunately, no ‘’experts,’’ in all of their public writings and opinings, made it a point to advise the investment world to go short on gold and long on dollars. Instead, we had Glenn Beck and countless others urging us to buy gold as it was collapsing.
So once again we’ve learned that the experts can’t be depended upon, and, as history has often shown, they should probably not only be ignored but instead be used as contrarian indicators.
So, if the gold ‘’experts’’ are now wringing their hands in despair and presenting end-of-the-world scenarios for gold prices, it’s probably a good time to buy.
I decided against gold, for me anyway, it didn't make sense. Gold is much more susceptible to faking it. Try to sell it in an emergency? How does one prove it's authentic and if it's 14 carats or whatever? Besides which gold is pricey for my limited economic means.
I agree.... I understand Gold’s intrinsic value.... but in an apocalypse, it’s not gonna be very good for bartering, and it won’t keep you safe.”
yeah, no one seems to give a fig about gold on “walking dead” for some reason ;-)
Maybe on a inflation based adjustment. $380/oz now is much different number than $380/oz say in my earlier example of 1972
Okay rude, I will post here when I begin to starve...... That 5% of my take home will just flutter away into the toilet. My coinage will be worth only $5 an ounce, when the US dollar is toilet paper. Or maybe it will be worth 20 times that. The dollar is guaranteed to be obsolete, precious metal coins never will be.
Paper gold will go to zero, physical will not be acquired at any price.
Wait, I thought it would be worthless? :)
That might do even more to the gem markets. Most gems form in cavities. (Diamonds are the common exception).
During WW-2 we used to drill out the center of a quarter and then beat the edges with a spoon until it would fit your finger and you could read the printing on the edges on the inside.
cool. and it was real (90%) silver!
that is Free Republic dogma that is completely with out merit
Bert you have been around here a long time you know better than that
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