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I don't consider gold or silver as "investments." I don't try to time the market to buy and sell. I do consider gold and silver to be a store of wealth for use if the normal economy goes belly up. So, I have some.
In much of the world, gold is considered "money." Over in Asia, for example, there seems to be a gold store every block or so. They post the buy and sell prices in the store window every morning. The gold jewelry they sell is almost pure gold. For many people, their gold jewelry is their savings account.
Just the other day I was going to buy some more gold or silver. Maybe I'll do that today.
Gold isn't only a wondrous investment; it's a whole life. Some of us like to go right to the source in addition to buying physicals, derivatives, mining stocks, etc. Here's my favorite Youtube celebrity doing his stuff.
There's so much to learn and enjoy about gold nvestments, but these two videos are great. Remember: gold bugs never die poor.
Here's another one. It's almost as much fun as sorting dollar bills was when the silver certificates were worth $1.30. The wild days are over for now, but there's still plenty of money to be made.
Gold, like many investments is a matter of timing. If you asked now, it doesn't look so good. But I'm not selling now. Now its a secure investment, and imho, will go much higher in the future. So then, I'm betting, it will be a great investment.
Remember, Apple at one time was a lousy investment, going nowhere. Then the iphone and other products came out. Then it turned into a great investment. Timing is everything.
Gold, like many investments is a matter of timing. If you asked now, it doesn't look so good. But I'm not selling now. Now its a secure investment, and imho, will go much higher in the future. So then, I'm betting, it will be a great investment.
Remember, Apple at one time was a lousy investment, going nowhere. Then the iphone and other products came out. Then it turned into a great investment. Timing is everything.
You are comparing apples and oranges --- excuse the pun....
Apple is a company that makes products, it has economic value. God bless those that bought in when the stock was trading for a few dollars.
Other commodities like oil or natural gas at least help run the economy.
Gold doesn't do anything. It sits there. It doesn't run machinery, you can't burn it to produce electricity. It has no value other than that you are hoping someone else will agree to pay more than what you bought it for.
Read what Buffett (the greatest investor of our time) says about it.
the problem with gold is over these extended periods of time that gold is supposed to be a store of value it always ended up being bested by something else .
in the end just about anything would have been a better place to put cash .
i can see a 5 or 10% position but the reality if all turns to crap gold may be worth little as who in the right mind would spend money on non essentials investing in gold when they lost everything .
yeah , i know we all know someone with a story of buying their way to freedom and most are likely just story's . most folks had their valuables confiscated or were robbed and murdered for them .
in fact in germany when they had soaring inflation bartering was the way of doing business .
if you want something to protect in total chaos learn a skill you can barter with .
You are comparing apples and oranges --- excuse the pun....
Apple is a company that makes products, it has economic value. God bless those that bought in when the stock was trading for a few dollars.
Other commodities like oil or natural gas at least help run the economy.
Gold doesn't do anything. It sits there. It doesn't run machinery, you can't burn it to produce electricity. It has no value other than that you are hoping someone else will agree to pay more than what you bought it for.
Read what Buffett (the greatest investor of our time) says about it.
There are MANY better options than gold.
One of the ironies of gold is that invariably the people who hold or advocate holding gold as an investment are almost always fearful of currency and equities and often refer to the modern financial system as a "ponzi scheme" ... and yet they themselves are pouring money into an ultimate ponzi scheme: something that has absolutely no use or value unless they can convince somebody to buy it from them because they're afraid the modern financial system is a "ponzi scheme".
i would be surprised if there are more then 1 or 2 retirees here who would even buy gold at any point in the past . as you see most are gun shy of even main stream investing .
There may be more than you think.
I accidentally bought gold below $300 in 2001, and silver below $5. A lot of it, all physical. It was the first time I'd ever owned anything like that. I just stashed it in my business safe, and let it sit for 11 years.
I missed the peak in 2011, but not by too much. I sold it all but a core posirion, in early 2012. The gold was a 5-bagger, the silver a 6+ bagger for me. Took the profits and plowed them into some energy stocks, which also did well for me, until I sold to buy...well, you get the idea.
All in all, I'm not sorry I took that ride. It was a fun trip!
like we said gold is about timing the market not time in the market .
if you held it a typical accumulation stage spanning decades like you do conventional investments you would have lagged way behind with that money . you could have picked almost any typical accumulation time frame and it would have played out the same .
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