…this is like a realtor saying that NOW is the BEST time to buy real estate.
Posted on 10/18/2024 9:42:33 AM PDT by C210N
I don’t own any gold. It always seemed too expensive. But I do have a few questions for those who do.
Let’s say you’ve been buying small quantities over the years. And now the price has reached a point where you’ve decided to sell. Who do you sell it to? Do you send it insured to some dealer in some far-away city?
If things got really bad, it would seem to me that such a method would not be 100% secure.
Or is the idea to hold onto the gold for bartering purposes?
…this is like a realtor saying that NOW is the BEST time to buy real estate.
$3000 a troy oz. And to think, 200 years ago a troy oz was $19. Shows how much the dollar has been devaluated in those 200 years.
Reminds me of a 1955 cartoon probably from the Saturday Evening POST.
A man is having a physical checkup. The doctor says “YOU are as sound as a dollar! And if you know what that means, you are a sick SICK MAN!”
Again, 1955
Why do you say that?
Gold was only $39.00/oz. in as late as the 70’s, I think.
I remember “making a killing” when I sold some at $200, and then, at 750.
I’ve still never found a person who retired off their gold investing.
Gold is not an investment. It’s a hedge. An extremely overvalued hedge at the moment, even with the extreme devaluation of the dollar. Don’t panic buy.
> And to think, 200 years ago a troy oz was $19. <
I don’t know how true it is, but someone once remarked that throughout its history an ounce of gold would get you one really nice suit of clothes.
So it’s not that gold has risen in value, it’s that the dollar had devaluated (as you noted).
Gold is front running more cuts in rates and more spending under the next Trump or Harris Admins. Rip dollar. All the king dollar boyz are liars, they hate a strong dollar and a strong America.
I'm not saying that. I'm not buying any now. I'm not selling any now.
I'm just keeping what I got, because with this BRICS runup, and in order for the removal of the $35T problem, the dollar is no long for this world.
Another thing is...WHY WOULD THEY SELL YOU GOLD FOR “DOLLARS”???
Gold is the highest right now...why buy now? Its like the stock market.
IMO the central banks are driving the recent run up in gold.
I also don’t see a correlation between gold holdings and the national debt.
If there is a Debt crisis, it’ll originate in the bond market and I don’t care how big it is or what countries it involves:
“It’ll be mitigated.”
You can sell it to any local reputable coin dealer in your area. Just look for one that has been in business for a long time. They will give you a legit price—the actual price per ounce, or maybe just a bit less.
I’ve still never found a person who retired off their gold investing.
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Good point.
You’d have better luck looking for an alive dinosaur.
My fav primer:
The primary statement of this post is not about retiring, nor investing... it's all about Safe Haven, as per the Title.
Furthermore, it should be noted that the VALUE of gold and silver is steady. Much the same today as it was a week ago, and a year ago, and 100 years ago. Will be similar most likely next year and the year after that.
It’s the dollar that is changing in value. It’s the dollar that is changing in price, relative to gold.
Consider buyung gold still in the ground. If you buy a Gold Mutual fund you have owner ship of gold that is safely in the ground with no storage fees nor threat of being killed while athief raids your house.
Gold shares are a very safe alternative.
It’s a very expensive safe haven at current pricing.
You’re betting on a very high inflation rate lasting throughout the 2020’s and into the 2030’s.
I don’t see that happening.
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