Will anyone regret not buying gold at $2,270 ?

[bluetopper]

Inflation is not stopping anytime soon. Your cash in the bank is losing value 6% or more every year at the current rate. All the gold buying is spurred on and a hedge against that. Mining company stocks have been going up and will go up a lot more than actual gold prices.

 

[bushmaster1313]

Tonight gold hit $2444
Compared to my OP when gold was $2270 a buyer at that price who sold today would still not be able to break even. But they would have the gold in hand.

BTW. I did not buy at $2270 and I do not regret not buying.

 

[CAJUNLAWYER]

I regret not buying it when it was at $35

 

[THE PILGRIM]

Gold Sampler.
I'm in at about $2,000 an OZ.

 

[Telecaster]

How come the Army has the Gold?

Someone has to guard it!

 

[Auburn4]

You have home owners insurance, auto insurance, life etc. What's wrong with having a back up on the dollar? You better have some cash to. Yea everything is just GREAT in this wonderful economy. Some of this younger generation don't know how many states are in the union and can't tell time on hands of a clock. Buy yourself and your love ones some P.M. insurance.

 

[Iggy]

Jeez, I remember panning gold out of a stream in Colorado as a kid and cashing it in at $32.00 an ounce, thinking I had hit it rich.

 

[THE PILGRIM]

The most Gold stored in one location is probably the NY Federal Reserve Bank.
'The United States Federal Reserve Bank of New York, at 33 Liberty Street, is the world's largest gold repository. It holds one quarter of all the world's gold and, like the Bank of England's vault, it stores gold for both the United States and other nations.'

 

[Kinman]

Saw this post from the past and was reminded of a discussion I had the other day about the value of gold. Its value is truly in the fact that so little is worth quite a bit and that virtually anyone can recognize it as such. I was reminded of a dear old gal we knew that had survived the Russian advance into Germany before eventually becoming an American citizen. Her family had all of their possessions on a wagon and had broke down alongside a roadway that was being used by the German army evacuating or retreating from the Russian onslaught. Her entire family was on the wagon including her very old grandmother. Grandmother was standing along with the rest trying to figure out their next move. They were trying to get someone to stop and help them get out of Dodge. One of the larger trucks stopped and grandma held out her hand to show the driver something. It was a handful of gold coins she had sewn into her coat, for the price of a handful of gold coins he allowed them all to climb into the back of the truck for their ride to freedom, it was a truck loaded with bombs. A book was written about their adventure called "Riding the Bomb."

 

[MelvinWalker]

Why would anyone then be selling now at 2300?

Watch the daily YouTube shows from Vermillion Enterprises in Spring Hill Florida. They buy and sell probably $80K a day, some over the counter and some via wire and check.

He has said for the last month that there seem to be the same amount of buyers and sellers. The only difference is that the buyers are buying two ounces of gold and the sellers are selling 25-50+ ounces at a time.

Mainly because the cost of living has squeezed them so bad that a few thousand in cash is a reprieve to fix an $8K A/C unit when you don't have the cash.

 

[ladder13]

Watch the daily YouTube shows from Vermillion Enterprises in Spring Hill Florida. They buy and sell probably $80K a day, some over the counter and some via wire and check.

He has said for the last month that there seem to be the same amount of buyers and sellers. The only difference is that the buyers are buying two ounces of gold and the sellers are selling 25-50+ ounces at a time.

Mainly because the cost of living has squeezed them so bad that a few thousand in cash is a reprieve to fix an $8K A/C unit when you don't have the cash.

Never put all your eggs in the same basket applies.

 

[johngalt]

Supposedly the rise in prices is also encouraging the sale of fake gold and silver. Stay vigilant!

 

[glenwolde]

Tonight gold hit $2444
Compared to my OP when gold was $2270 a buyer at that price who sold today would still not be able to break even. But they would have the gold in hand.

BTW. I did not buy at $2270 and I do not regret not buying.

Gold ETF's are up about 8% in the same period. Yes, in a total disaster paper gold will be worthless, but the total disaster is unlikely. Odds are you're better off with a slug of paper gold in your portfolio than you are with physical gold.

 

[Exaviator]

"To me, gold seems to be a hedge against big inflation but not an investment"


More a hedge against uncertainty!

 

[SMSgt]

I'd rather have a bunker of primers than a Ft. Knox of gold if it comes right down to it.

 

[Kinman]

Watch the daily YouTube shows from Vermillion Enterprises in Spring Hill Florida. They buy and sell probably $80K a day, some over the counter and some via wire and check.

He has said for the last month that there seem to be the same amount of buyers and sellers. The only difference is that the buyers are buying two ounces of gold and the sellers are selling 25-50+ ounces at a time.

Mainly because the cost of living has squeezed them so bad that a few thousand in cash is a reprieve to fix an $8K A/C unit when you don't have the cash.

That is somewhat what I have done, I used the one ounce Kruggerands as a savings account that had one more pinch to keep me from exploiting it. A standard savings account can be transferred into checking instantly and to further curb any spending having to cash the gold in was another step to think it over. When I doubled my money on an ounce it was fun to take them to the gun show, I did real well during that period of time...often better than the guy trading his old iron for my gold. I personally like using silver and gold as a trade offer because there is no sales tax to figure out on a trade. In this area I've known people that bought cars off the lot in trade for gold and silver...no tax. My local dealer has a vault to store your precious metals in, beats a savings deposit box.

 

[bruce5781]

I bought at $202, sold at $404 and went to college.

Sent from my SM-G781U1 using Tapatalk

 

[johngalt]

It's been a while since the latest update - gold closed at $2578 today. Quite the run this year.

 

[Exaviator]

I first bought gold when it was $400 per onz, if you think that $2200 is too high a price, wait until it reaches $3500

 

[JohnRippert]

I don't regret never buying gold.