Thanks for making my point.
Everyone is talking like massive inflation is coming, but nobody is actually acting like it.
Right now I'm up about 40% with the gold which ain't bad and I'll probably sell it all if it gets to 2000.00 because I can't predict the future.
Adjusted for inflation, the folks who bought gold in January of 1980 would still be in the hole at $2k an ounce.
I think it's entirely possible that the current gold market is about to be exposed as the biggest scam in history. Nearly all gold bought and sold today is certificates, most people are just taking someone's word that the gold exists. And gold is very easy to buy, yet we're told it's rare -- the irony is that it really can't be both. If gold is as rare as they claim, brokers shouldn't be able to even come close to meeting demand.
Well I certainly did not buy in 1980 and only a short time ago and only a small amount. I had a little extra due to a death in the family and was first going to buy GE stock, which I had owned in the past when it was doing well. I’m very glad I chose the gold for now.
whoa, you really seem like a flat earth type.
people that buy gold, often resell all or portions of it. this is not uncommon.
as for being able to keep up with demand... that is why the price is $1300 per ounce. a single coin is now valued at $1300. not because some 'evil rich guy' says so, but because of supply and demand. the demand is up, therefore the price goes up as the supply is finite.
also, please, at least read the wiki before spouting: wiki: gold
from the wiki:
"A total of 165,000 tonnes of gold have been mined in human history, as of 2009.[1] This is roughly equivalent to 5.3 billion troy ounces or, in terms of volume, about 8,500 cubic meters, or a 20.4m cube."
that's about 5.3 billion 1 ounce gold coins, which would be worth $6.9 trillion today. more than enough to handle consumer demand (big banks and government buyers are the ones pushing the value of gold up as they scamper to unwind their dollars into something more stable/secure)
Actually, I think reality is that there isn’t that much demand. That’s why they have to spend thousands of dollars on non-stop advertising trying to convince people to buy it.
If there was more demand, the price would jump a lot higher, until it was high enough that people didn’t think it was worth it anymore, and demand dropped to equal the supply.
It seems clear right now that there are a lot of companies holding gold that are looking to sell it at these prices — hence the non-stop advertising, mostly to conservatives who they know are scared to death and believe the worst about what is coming next.
Does it really make sense that only conservatives can see the value of gold?
Adjusted for inflation, the folks who bought gold in January of 1980 would still be in the hole at $2k an ounce.
Second (and this is subtle) you shouldn’t adjust the price of a commodity for inflation, because inflation is essentially defined as the change in commodity prices. unless you are trying to teach a lesson how different things have increased in price (refrigerators, medical care, housing, gas, gold) you don’t adjust the price of one for the others. The difference in gold prices now over 1980 is an indication of inflation. of course, that $800 gold occurred only for a moment, and for special reasons unrelated to the current 10-year bull market.