THE PILGRIM
Member
I'm sorry I didn't buy more at $2,270!
One of my Fav Willie Songs.
https://youtu.be/9v2PK7_NMZ4?si=2xFCVRidKGGJeJq1
One of my Fav Willie Songs.
https://youtu.be/9v2PK7_NMZ4?si=2xFCVRidKGGJeJq1
Will anyone regret not buying gold at $2,270 ?
- Thread starter bushmaster1313
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Hindsight is 20-20..
Speaking of Tesla ;-) I bought some shortly after the ipo ,though better of it and bailed two weeks later lol
Just for some perspective. We're talking about a 30% profit. Not doubling or tripling your money. 30%. Yes that's a very nice profit. But if you bought Amazon shortly after the split you nearly tripled your money if you sold at $240.
The really good news is my investments have dropped from an 11% annual return to 3.48%. Woo-hoo.
Always.Hindsight is 20-20..
And most people trying to "time" or predict the market loose their shirts.
Sorry about your earnings drop. Gold is up 15% this year…for now. Went up 26.3% last year.
Most of what little gold I've got was purchased under $2k/oz. I'm done buying gold, and keeping what I have..
I don't regret not buying gold ever. When times get bad it is worthless. Think through the process of disposing of it. All it will get you is dead. Better off to invest in things that sustain life. Not foolish dreams of greed.
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This is why I keep an allocation to gold, it often will go up when everything else is going down. I don't consider it much of an investment, but it is a good hedge. I don't buy the physical, the spreads are too wide, storage and disposal is too cumbersome.
My grand father and father bought gold at $35. I started buying at $500.
Gold is going to $5,000 because deficit is $36 TRILLION.
Gold is going to $5,000 because deficit is $36 TRILLION.
Today's close $3084.20
Realistic prices or just FOMO? Unfortunately no crystal ball...But I'm a little squeamish about buying at the top.
My investments are now at an annual 2.33% yield. Credit union 6-month CDs here are at 4%.
WE sold the second house I built May 5th 2022 for $430k. Cleared $406,176 and that was tax free, after real estate commission, not a penny to anyone else. Law passed in 1998, did two houses and pocketed that as my retirement fund. Gold is taxed as a profit when you sell it. Got to love paying taxes on inflation. Now we owe no one anything over a monthly credit card bill. I bought an ounce of gold when it was $285 and sold it not long afterward for what I paid for it. Wife was a county employee, so she gets social security and a pension. I get a small social security benefit so we do fine having never carried any significant debt unless it gave us a good return and we could live in it while it was appreciating. I grabbed cars and motorcycles that needed love and we drove for free for the last 35 years. Over a hundred salvage vehicles as a hobby.
If you bought Mattell stock in 1955 your return was 1000 fold ten years later. Only problem is it's too late by the time you figure it out.
Getting housing and transportation basically for free is eliminating two of your greatest debt expenses. Now we rent our money to banks.
When Armageddon hits, the best investment will be water and ammunition.
Never bought any gold after that one ounce.
Tried the stock market, every instinct of mine is the opposite of good choices in the stock market.
If you bought Mattell stock in 1955 your return was 1000 fold ten years later. Only problem is it's too late by the time you figure it out.
Getting housing and transportation basically for free is eliminating two of your greatest debt expenses. Now we rent our money to banks.
When Armageddon hits, the best investment will be water and ammunition.
Never bought any gold after that one ounce.
Tried the stock market, every instinct of mine is the opposite of good choices in the stock market.
News reports this is the biggest 1st quarter jump since 1986. Of course the big question - does this price reflect accurate value or fear? I'm still squeamish.
I'd say caution with some fear driving it. Central Banks worldwide are stockpiling gold.
I did sell a bit of my stash on yesterday's close, needed some extra $$ for some needed work around the house and yard.
Currently gold is down, stocks are up. But that could change at any given time
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...and it keeps on going... $3400+ at the moment. I sold half of mine but not because I think it's going down. Just banking some of the gain. For all I know it's going to $5,000. It's done its job as a hedge.
Sure makes you wonder what's going on.
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The economy seems to get more precarious day by day.
LVSteve
Member
I don't regret not buying gold at $2270. I do regret not buying it at under $300 in 1998 as my father suggested I should. Had I not got married in '01 and instead ploughed all my money into gold from '98 to '05, I'd be pretty well set up.
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So far all this hasn't actually shown up in the numbers. But all this volatility is saying it will. You probably won't actually see any bad numbers from companies until July when they report second quarter performance. Bad news may show up in government statistics a bit sooner than that. The markets are discounting it.
Foreign entities own 30% of our debt and 20% of our equity markets (roughly). Mostly because they ended up with a lot of dollars selling us stuff. They had to do something with them. Financial instruments are a couple of our biggest exports.
The conventional wisdom on Wall Street is that due to the current trade environment foreigners no longer need to hold so many dollar assets. Gold looks better. It's called the "Sell America Trade". Sell U.S. assets and buy gold or other non-dollar assets.
It's not so much done with malice or out of retribution, more of a currency exposure realignment and they are refocusing on domestic issues just as we are.
THE PILGRIM
Member
What we probably should mentioned is buying Gold is probably the last step in your Economic System failure plan.
The first financial step you should take is to hold some cash.
That's in your hand, out of the Banking system.
How much? Depends on your situation.
Probably as much as you can reasonably afford.
Since most of the checking accounts don't pay interest anyway, just put some of that cash in your Gun Safe.
Back to the Metal.
It's Silver before Gold.
Silver has been a primary exchange metal forever.
It was here in the USA until 1964.
So an excellent choice for Barter Silver is 1964 and older 90% US Dimes, Quarters and Halves. $1.40 Face Value is approx 1 Ounce Silver.
It's easily recognizable and explained.
The first financial step you should take is to hold some cash.
That's in your hand, out of the Banking system.
How much? Depends on your situation.
Probably as much as you can reasonably afford.
Since most of the checking accounts don't pay interest anyway, just put some of that cash in your Gun Safe.
Back to the Metal.
It's Silver before Gold.
Silver has been a primary exchange metal forever.
It was here in the USA until 1964.
So an excellent choice for Barter Silver is 1964 and older 90% US Dimes, Quarters and Halves. $1.40 Face Value is approx 1 Ounce Silver.
It's easily recognizable and explained.
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GypsmJim
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Easier said than done. I regret not buying as well.
But in 1998 I had a mortgage, 2 kids in college and 2 car loans. At the time I was "trying" to manage a 401K, and as it turned out 4 years later I was out of a job.
Hindsight is nice, but having the resources ain't so easy.
