Gold falls again but holds above $500

Yahoo! News ^ | Dec 15,2005 | Chris Flood

[Toddsterpatriot]

Hmmmm.

[Toddsterpatriot]

Buy your big ass hunk of gold, before it gets cheaper!!

[Proud_USA_Republican]

NO $hit. I can smell speculative pumping from a mile away, especially when it comes to the gold pumpers. They are some of the most idiotic conspiracy theorists out there.

[Gordongekko909]

Silly goldbugs.

[vic ryan]

Someone wants to trade me pieces of paper with ink on them for a metal that has had monetary value for thousands of years. I think not!

[Gordongekko909]

All I know is, Best Buy will only accept those pieces of paper in exchange for video games. They don't take gold. And I needs my video games.

[beaver fever]

The recent spike led to profit taking. Gold hasn't finished rising. It will push $580 by spring.

The fundamentals have not changed.

[Toddsterpatriot]

Gold hasn't finished rising.

That's right....because you can't beat the dividend it pays. Or is it interest?

[beaver fever]

You're missing the point. There are many ways you can profit from Gold:

Invest in Majors and get upside on the stock price and dividends; invest in selective junior and get 1:5 upside on a short term play; invest in juniors who are purchasing royalties, (Franco Nevada and Battle Mountain Gold); buy physical gold or gold futures.

Gold is both a good long term investment and a good short term speculative play. But you have to understand the business.

Barrick's Bulyanhulu Mine is the first major gold mine that has opened in the last 15 years. Gold is in deficit on the supply side and no new big mines will come into production in the next five years.

The supply fundamentals ensure that putting 10% to 15% of your portfolio into gold will give you a good hedge against a downturn in other investments and unexpected consequences of currency fluctuations.

Think of gold as house insurance. You don't think about it until your garage catches fire. Once that happens you're thankful you made the investment.

Here's a little hint about where gold is going. Chinese banks are going to allow their customers to buy gold certificates over the counter like cash. Dubai is issuing E-Cash over the Internet backed by gold.

Don't throw your whole portfolio into gold but put a good percentage into metals to protect your other investments.

[Chewbacca]

I hope it falls further because I am putting in an order for some bullion coins in the morning and want the cheapest price.

[KeyWest]

Way back when, my Mom invested in gold. She died ten years ago and never got her initial investment back. Love to read these "buy gold" posts. They are really more like day traders than investors.

I will stay with my stocks which have done much better than gold, even if they dropped by half.

[D.P.Roberts]

Good post. You're right, of course, but the folks on this thread aren't really here to listen, they've got an agenda to push.

Gold and silver are back up already despite increased requirements for buying in the foreign markets.

[Toddsterpatriot]

Think of gold as house insurance.

So if I bought this "house insurance" back in 1980, I've lost 44% of my house? What kind of insurance works like that? Bad insurance.

[vic ryan]

Let's say you bought this "house insurance" prior to 1980 at $36, $37, etc. per oz.? How would your "house insurance" now be at $500/oz.? Some people have short memories or no memory prior to recent birthdays.

[Toddsterpatriot]

Let's say you bought this "house insurance" prior to 1980 at $36, $37, etc. per oz.?

So sometimes the insurance works....and sometimes it doesn't? Remind me not to buy that kind of insurance for anything important. LOL!!

[stboz]

You can't eat, you can't burn it. BUT, you can sell it to people who have more money than sense.

[vic ryan]

Don't forget not to buy it for anything important. You've been reminded.

In fact if anybody gives you any I'm sure you'll toss it in the ole dumpster. Right?

[Toddsterpatriot]

In fact if anybody gives you any I'm sure you'll toss it in the ole dumpster. Right?

I'd probably sell it to some doofus.

[vic ryan]

Wouldn't you feel bad taking real paper with ink on it for that worthless metal? Screwing some poor doofus is not a nice thing to do.

[Toddsterpatriot]

Wouldn't you feel bad taking real paper with ink on it for that worthless metal?

Where did I say it was worthless? Just not a very reliable insurance policy.