“It changes it from an investment to an expense.”
I bought the silver for $20 and the gold for $2400 per ounce. I currently have my sell bars set at $45 for silver and $4,600 for gold. I’ll keep moving the sell points up as the prices rise.
I’m not claiming that metals are always a good investment, but inflation has been much higher than reported and hanging onto cash seemed a bad choice. Most of my investments are pre-tax retirement accounts with Fidelity and TIAA-CREF and are managed professionally by people with way more accurate information and investment experience than mine. So, I took half of my available cash and bought gold in August of 2024. The silver was purchased after Christmas of 2022. It was a gift from my father-in-law. Thanks Jim.
I’m pleasantly surprised that I finally did the right thing at the right time. The gold is going to net me more than my annual income as long as I’m smart enough to sell it before any market corrections.
“The gold is going to net me more than my annual income as long as I’m smart enough to sell it before any market corrections.”
You might be able to net sales but in most of the cases I’ve seen is only by the lack of sales for the buyer’s desires to be less than the worth of the inflation. You may be able to earn an annual amount if you originally bought a really large amount of gold. But while the advertisers are stressing retirement profits, your expectations in your post were those of an annual income. In a retirement situation, that may get you one to two years. So is it an investment or are you selling something like a car which only has value to the person that buys it again as they set the price for you to pay? You won’t cover your costs because they are profiting by it and that profit was paid for by you twice for the same gold.
wy69