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GOLD. Invest?
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GTaudiophile
Lifer
You buy the real thing, though I'm sure you could invest in Gold Future's too. When I say the real thing, I mean in the form of gold coins or something. That's what I have at least. Gold is doing very well these days all things considered.
DaveSimmons
Elite Member
Before you bet your retirment on it, be sure to look at the historical, long-term performance of gold and gold mining stocks -- unless you're doing short-term trading of course. Over time gold has been about the worst possible investment you could make, losing money consistently for over 20 years.
For long-term this would actually be a good time to buy SPDR (spiders) or an S&P 500 mutual fund.
For long-term this would actually be a good time to buy SPDR (spiders) or an S&P 500 mutual fund.
GTaudiophile
Lifer
He's right. I should have given more historical information. Gold until recently has been a poor investment, but made a comeback.
Jmmsbnd007
Diamond Member
Cliche-o-rama 😀
GTaudiophile
Lifer
1 Metric ton is 35274.15 ounces. The price of gold at the market's close today was $382.60/ounce. So, he's buying $13,495,889.79 worth 🙂
No no no. You don't buy "the real thing" in the form of coins, although I suppose you could. If you want to invest in precious metals such as gold, you invest in stocks of gold mining companies through direct stock ownership or mutual funds. That's how 90% of people get exposure to gold.
I might add that gold has appreciated very quickly over the last 24 months. It's currently in a "bubble" similar to the dot.com stocks of the 90's, and it's fully priced at the moment, meaning you getting in at the peak - thus future gains are minimized. At this stage, your portfolio should be heavily weighted in cash. I predict a $25 dollar "correction" in gold after the war talk is over and done with.
It all depends on what you think the future is going to hold.
If you think that the US dollars will become mostly worthless because of inflation over time, then yeah maybe gold will be worth while since over time the gold could buy you more and more dollars.
If you think the US dollar will become worthless because the government collapses, then gold would be useful because most people percieve it to have a value and thus you could barter with it or sell it for money backed by other governments. However I would think some guns and plenty of ammo would probably be a better investment if you think the government is going to collapse. 😉
Now if you think that everything is going to be peachy in the future and we get our space program up and running again and ever get around to mining asteroids it could make gold worth alot less if we start finding alot of it up there.
If you think that the US dollars will become mostly worthless because of inflation over time, then yeah maybe gold will be worth while since over time the gold could buy you more and more dollars.
If you think the US dollar will become worthless because the government collapses, then gold would be useful because most people percieve it to have a value and thus you could barter with it or sell it for money backed by other governments. However I would think some guns and plenty of ammo would probably be a better investment if you think the government is going to collapse. 😉
Now if you think that everything is going to be peachy in the future and we get our space program up and running again and ever get around to mining asteroids it could make gold worth alot less if we start finding alot of it up there.
DaveSimmons
Elite Member
Gold hasn't even worked well as a hedge against inflation, at least normal inflation (say under 15%/year). Gold was around $600 in the late 70's in 70's dollars and it's worth less than $450 in '03 dollars.
You probably meant as a hedge against third-world hyperinflation (100% - 1,000% / year) but that's very, very unlikely to happen here and the guns & ammo might be better for this too 😉
DaveSimmons
Elite Member
Exactly, everyone is selling stocks and buying real estate, bonds, gold, etc. now that it is too late to make any money from them.
Meanwhile it's a good time to buy stocks for a long-term investment, but most people are going to wait to buy until after the market recovers and prices jump up again.
"buy high, sell low" is not a good investment strategy! 🙂
Hamburgerpimp
Diamond Member
I almost bought 10 Oz off Ebay a couple months ago for $320 an ounce. Damn, now look at the prices.
and yes, people are buying like crazy. Tell me again where gold is going?
and yes, people are buying like crazy. Tell me again where gold is going?
DaveSimmons
Elite Member
Up for a little while, then right back down again.
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