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Wife wants to invest in gold

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This is the thing with almost all large investments today (and in reality the common man has no business in a these really)...with the real estate market the same people that were hedging it went out can started advertising how "you too should start a career in real estate investments".

Now they have all these 'buy gold' commercials. Once the main players decide to sell out is when the shell game is over. Unless you guessed right you are left with a loss.
 
probably the worst reason to do something, especially when it comes to money, is because "everyone else is doing it!". That excuse didn't work in Nuremberg, and it wasn't much of a consolation to Bernie Madoff's victims.

Unless you see nothing wrong with being a lemming and marching towards a cliff....
 
Excuse the zombie-bump but this is simply rich.

I was doing some searching and stumbled across this old thread. There's 4 pages of amusement that had me rolling.

OP: I hope you listened to 90% of the people in this thread and that you and your wife didn't invest in gold back in 2010. You would have lost your ass according to most of these people.

Hot Tip: Do the opposite of what the 90% are doing.
 
(Yes, I know it's an old thread...)

I just figured I'd tag this in here:
Warren Buffett's take: "Gold gets dug out of the ground, then we melt it down, dig another hole, bury it again, and pay people to stand around guarding it."

He does goes on to say that "it has no utility." The electronics industry would surely disagree with that 🙂, though I'm sure they'd really love to see it come down in price.
 
au0060lnb.gif

http://www.kitco.com/charts/popup/au0060lnb_.html

^_^
 
From a 10-year chart it looks like prices peaked in early/mid 2011 and are now bouncing up and down in a lower range.

There's been a lot of fear in the world since 2010, from "they're gonna grab ma guns!" to the Mayan Apocalypse nonsense to "fiscal cliff" panics. When fear recedes, gold drops.

Also, the S & P 500 has increased nicely (though less) over the same time span, so people who bought index fund shares would have done just fine with much lower risk.
 
Gold was an investment 10 years ago, not so much now, these days it's just property (which will probably lose value).
 
Around the time of his post, gold was hovering around $1150 / oz, it's now around $1608 / oz. Will gold begin trending down from here on out? Perhaps, take the opposite advice of what's give here. 😉
 
TruePaige said:
Gold is gone.

The biggest clue that it is over is that - ads on tv - are - telling you - to - dooooo ittt -!

😛
Click to expand...

Yeah its gone that is why the British think tank is suggesting that we go back on the gold standard again and that is why the US got the biggest gold reserves in the world and keep on stocking up....
 
Yongsta said:
Around the time of his post, gold was hovering around $1150 / oz, it's now around $1608 / oz. Will gold begin trending down from here on out? Perhaps, take the opposite advice of what's give here. 😉
Click to expand...

And the S&P 500 has gone from 11xx to 15xx, plus it pays dividends.
 
I never understood the reasoning behind it being a universal currency if the world ends.

I mean for fucks sake. If I have extra food, and someone runs up to me and offers gold for the food - how is that in ANY way feasible? It glows? There are plenty of things that are limited in QTY on this earth, but picking 1 and thinking it can be a universal currency is just silly.
 
s0me0nesmind1 said:
I never understood the reasoning behind it being a universal currency if the world ends.

I mean for fucks sake. If I have extra food, and someone runs up to me and offers gold for the food - how is that in ANY way feasible? It glows? There are plenty of things that are limited in QTY on this earth, but picking 1 and thinking it can be a universal currency is just silly.
Click to expand...
It is only universal for the same reason the US dollar is worth something: because people agree it is. Contrast with oil, which is of value because it has innate value. Gold really doesn't have much at all.

I remember watching the twilight zone or something many years ago and two guys were in a dessert and one had water and one a backpack of gold and the guy was selling water for the equivalent of many ounces of gold and the rich man was paying it. If the shit really hit the fan I'd be more interested in how to get cans of spam than bits of worthless metal.

Short of shit hitting fan, though, if the US currency did go poof gold could still be turned to other things (unless the world is at its end), so it will always be worth something in that scenario.

The thing is the majority of people who are cashing out their 401ks to buy bits of gold and silver are mentally ill and I don't want to take investment advice from people who are mentally ill.
 
Electric Amish said:
My wife keeps insisting that now is the time to buy gold. She keeps getting told by these investing ads saying that now is a great time to buy gold and you should be getting in now before it keeps going up.

I'm telling her that it is too late and that gold is probably maxed out...or getting close and if we invest now we are late to the party and not going to make much money.

What do you guys think?
Click to expand...

I never get over the advice people give me to "BUY NOW!" "LOOK HOW MUCH IT IS WORTH NOW!". Buy on the way down and sell on the way up never enters their heads.
 
Electric Amish said:
My wife keeps insisting that now is the time to buy gold. She keeps getting told by these investing ads saying that now is a great time to buy gold and you should be getting in now before it keeps going up.

I'm telling her that it is too late and that gold is probably maxed out...or getting close and if we invest now we are late to the party and not going to make much money.

What do you guys think?
Click to expand...

Why did she not want to buy gold when it was trading under 300 bucks? Ask her that question and see what answer you get.
 
time to buy gold is to maintain whatever asset allocation you have decided to use

buy and sell as needed to keep the prescribed percentage

do it without emotion, or in spite of it, otherwise you are probably making a bad decision
 
The only commercial that I know of that is trying to convince you to buy "gold" is one for those fake gold "collectors coins" that they sell for something like $29, but only have $0.50 worth of gold in them. (they're plated if I recall correctly).

The one trying to sell what is probably $0.75 worth of metal for $29.99
 
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