Just saw that at 10 PM ET on March 31, 2024 that gold hit $2,270 per ounce.
I wonder if anyone will regret not buying gold when it first hit $2,270
I wonder if anyone will regret not buying gold when it first hit $2,270
Will anyone regret not buying gold at $2,270 ?
- Thread starter bushmaster1313
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I'm so sorry ...
...but I missed my chance.
...but I missed my chance.
Debt Clock.org show "10 yr gold/dollar ratio" a little less than $10K/oz., $15K for 5 yr. Coupled with a quickly shrinking "money supply" things might get "interesting." I ain't buying any "hedges" currently, trying not to let the "crazy pandemic" infect me. Whatever happens to America happens to me. I'm OK with that. Joe
A lot of people on this forum seem to like gold & silver as an investment. Whenever I've looked at it the commissions killed the idea for me. There is a large well known precious mental dealer near me with a running ticker on their website. It just never made sense for me. Especially selling it. I think it would be kinda neat to have bars stacked up in my safe but cash is just easier.
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Can't eat it. Can't shoot it. Not as good as cash for kindling.
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Trying to time things is mostly a sucker's game. It can be done, but you have to have your emotions in check.
As with any asset, it either belongs in your portfolio due to its asset characteristics, or it doesn't. Buy it based on that.
But to your question, yes, many will. They will say "oh, I missed it" and watch it go to $3,000. At which point they will buy because they don't want to miss any more and it will universally be forecast to run forever. That, of course will be the top and when it gets down to $2,000 again they will sell, unable to bear anymore pain. Which will be the bottom...
As with any asset, it either belongs in your portfolio due to its asset characteristics, or it doesn't. Buy it based on that.
But to your question, yes, many will. They will say "oh, I missed it" and watch it go to $3,000. At which point they will buy because they don't want to miss any more and it will universally be forecast to run forever. That, of course will be the top and when it gets down to $2,000 again they will sell, unable to bear anymore pain. Which will be the bottom...
Jeff423
US Veteran
Cue up the old joke: How do you make a small fortune in the precious metals market?
kozmic
Member
I get the hot potato in my hands feeling about gold these days. I want to pick it up, but something tells be it's gonna hurt. I don't mind some small fees, but they have all but vanished.
I have the feeling if these companies have to spend so much advertising their product it is over rated (AKA over priced). If it was priced right it would sell itself.
OP
The local pawn shop buys 1 oz gold coins at about $100 less than "spot" and it cost about $100 over spot to buy gold coins on eBay.
To me, gold seems to be a hedge against big inflation but not an investment.
To me, gold seems to be a hedge against big inflation but not an investment.
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THE PILGRIM
Member
Nope! Might regret not buying more under $2,000.
Lately have bought a little Plata. Silver.
Lately have bought a little Plata. Silver.
No. Just checked my Edward Jones accounts - they've averaged 12% over the past 2 years. They only dipped in '07-'08, but regained quickly after.
Nah. I remember when some were touting getting out of the Dow at 25,000. I rode it out.
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If I remember correctly, the old adage is "Buy low and sell high". Doing the opposite doesn't work nearly as well.
I was one of those - getting out and back in after calming down was a really cheap lesson.
Nope...and nope. If I buy PMs it's gonna be silver. It is underpriced at historic levels compared to gold. I do buy an occasional silver dollar. I'll take 'em for barter on guns ammo and reloading aaaaat my evaluation
THE PILGRIM
Member
Likely will see gold closer back to $1500 instead
of reaching $3000.00.
of reaching $3000.00.
Telecaster
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I guess you could short-sell gold if you really wanted to.
No riskier than buying coins on Ebay.
Rammer Jammer
Member
Good luck eating, shooting, or getting a good trade on that goldmif SHTF.
For me, it's hard to justify a one ounce Gold Eagle or Gold
Buffalo at that price. The last Gold Buffalo I bought early last
year was just a little over $2100.00 with the premium. I live
in Utah, and I have been buying 1 Utah Gold Backs in the
100 packs. A little more affordable for me, and legal tender in
the state.
Silver is a good buy now.
Buffalo at that price. The last Gold Buffalo I bought early last
year was just a little over $2100.00 with the premium. I live
in Utah, and I have been buying 1 Utah Gold Backs in the
100 packs. A little more affordable for me, and legal tender in
the state.
Silver is a good buy now.
Pork bellies!!!
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I guess you could short-sell gold if you really wanted to.
No riskier than buying coins on Ebay.
There's a short ETF: DGZ
I bought a gold dollar from the US Mint a few years ago, just because of the allure gold has always had and because I like the historical aspect of coins. It's neat, but it doesn't do much for me as far as wanting more.
I wonder if I should cash in gold scrap at this point (again).
The last time I did was when gold was around $1300 or so.
Sent it to a refiner that I buy the stuff from in wire and sheet form from originally.
Maybe if I wait a little longer, gold will ...!
The last time I did was when gold was around $1300 or so.
Sent it to a refiner that I buy the stuff from in wire and sheet form from originally.
Maybe if I wait a little longer, gold will ...!
OP
No riskier than buying coins on Ebay.
From the big outfits on eBay not much of a risk buying a U.S. Mint gold coin if you pay with a credit card
Oldengineer
Member
It seems to be a store of value rather than an investment. Same with silver and S&W revolvers. There is a lot of central bank buying of gold these days — especially China. I think those who Buy Gold don't Sell Gold.
