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FYI, gold is stable right now, time to buy?

Discussion in 'Money Talk$' started by Wingman68, Oct 13, 2019.

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  1. Wingman68

    Wingman68 Well-Known Member
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    #1 Wingman68, Oct 13, 2019
  2. InTheLight

    InTheLight Well-Known Member
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    Gold is stable right now? Do you mean gold prices are stable right now?

    No, the price of gold is having a nice run up right now. This is why you keep seeing and hearing the ads to BUY GOLD NOW!!! The gold dealers that bought gold in the last couple of years want to unload it for a profit. It's probably been the most unstable year for gold prices since 2011 when gold went from $1,350/oz. to $1,889/oz. Or in 2013 when it went from $1,650/oz. to $1,200/oz.

    Gold Price 5 years Oct19.JPG
     
    #2 InTheLight, Oct 16, 2019
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  3. Wingman68

    Wingman68 Well-Known Member
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    I watch the price every day. It has been around 1500, give or take, depending on the stock market. Right now it’s $1489.
     
    #3 Wingman68, Oct 16, 2019
  4. InTheLight

    InTheLight Well-Known Member
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    Yes, 1,500 is a six year high. Unless you think gold is going to continue upward, there likely isn't any growth to be had. If you are buying it as a hedge against inflation, that might make sense except we haven't had any significant inflation for 15 years.
     
    #4 InTheLight, Oct 16, 2019
  5. Wingman68

    Wingman68 Well-Known Member
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    Gold is always a hedge, that is why I continue to buy & hold it. It is not the major part of my portfolio, but frankly it gives me more peace of mind than paper holdings. You don’t want any? I don’t care. I’ve been a buyer since it was in the 300 range. As I said, IF the gold standard were to be instituted..........
     
    #5 Wingman68, Oct 16, 2019
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  6. Wingman68

    Wingman68 Well-Known Member
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    Today the stock market is at an all time high. Is that a time to buy stock? I read an article within the last week that if the gold standard were instituted, for whatever reason, gold would then have to be 40,000 to 50,000 an ounce to cover the paper ‘money’.
     
    #6 Wingman68, Nov 4, 2019
  7. InTheLight

    InTheLight Well-Known Member
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    And therein lies the problem with a gold standard. There's not enough gold on the planet to cover the increasing population, increasing products, increasing services that people want to purchase.
     
    #7 InTheLight, Nov 4, 2019
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  8. Wingman68

    Wingman68 Well-Known Member
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    Gold price today, 1671, without any major crisis going on. Trump must be good for all things financially, heh. The democrat’s answer to this? Try a little communism, with a side of homosexuality, & next year we could even progress to having Sharia law, or maybe they can tell us how many kids we are allowed due to global warming. Selling insanity must be hard.
     
    #8 Wingman68, Feb 24, 2020
  9. InTheLight

    InTheLight Well-Known Member
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    No major crisis going on?

    Coronavirus is spreading to South Korea and Italy.
     
    #9 InTheLight, Feb 24, 2020
  10. Reynolds

    Reynolds Well-Known Member
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    #10 Reynolds, Feb 24, 2020
  11. Wingman68

    Wingman68 Well-Known Member
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    Manufactured virus. What was the objective?
     
    #11 Wingman68, Feb 24, 2020
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  12. InTheLight

    InTheLight Well-Known Member
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    Objection. Question has no foundation.
     
    #12 InTheLight, Feb 24, 2020
  13. Wingman68

    Wingman68 Well-Known Member
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    Never mind. Rush is on today, & answered the question. Rush is right 99.9% of the time, don’t ya know.
     
    #13 Wingman68, Feb 24, 2020
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  14. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    To scare & to kill
     
    #14 Earth Wind and Fire, Feb 24, 2020
  15. Wingman68

    Wingman68 Well-Known Member
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    #15 Wingman68, Jul 27, 2020
  16. InTheLight

    InTheLight Well-Known Member
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    #16 InTheLight, Jul 27, 2020
    Last edited: Jul 27, 2020
  17. Wingman68

    Wingman68 Well-Known Member
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    Where did you go to school, looks like 30% to me. Again, no one is berating you to buy gold, but the other opportunities you speak of will get you broke in a real crisis. Got ammo? That one could be a sage investment, as well, or you could just hoard 30 round mags, they weigh less than ammo or gold, hahahaha.
     
    #17 Wingman68, Jul 29, 2020
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  18. InTheLight

    InTheLight Well-Known Member
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    University of Minnesota, Institute of Technology. Six semesters of advanced calculus. A couple semesters of statistics. How about you?

    Well, no wonder you like gold so much. In your head it's returning twice as much as it does in reality.

    Take a look:


    On February 24th you said:
    On July 27th, at 9:37am, you said:
    The price of gold at 9:00 am, Monday, July 27th was $1,931.

    Gold-Price-072720.jpg


    So start price of $1,671.
    End price of $1,931.

    And you say that's a 30% gain. Okey-dokey.

    I get 15.5%.
     
    #18 InTheLight, Jul 29, 2020
  19. Wingman68

    Wingman68 Well-Known Member
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    The thread was based on 1500. That’s 30% up from 1500 where it sat for awhile. Doesn’t really matter, does it? Your view will not change. Nice to see how hard you will work to be ‘right’ though. Grit, I like it.
     
    #19 Wingman68, Jul 29, 2020
  20. Reynolds

    Reynolds Well-Known Member
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    At market high yesterday it was up 27.42% from its lowest price of 2020.
     
    #20 Reynolds, Jul 29, 2020
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