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Lot's of fear and anxiety in late 2008 after the election and the collapse on Wall Street during the campaign. Lots of ads spewing fear and Gold as a solution. Lots of swings in Gold prices after lots of sales folks hawking Gold as your safety out let and security in retirement. With all the swings in prices and different entry points how is this working out for folks? Good decision? Not so good decision? A source of retirement related joy or perhaps grumpiness? Thoughts and stories welcomed.
Lot's of fear and anxiety in late 2008 after the election and the collapse on Wall Street during the campaign. Lots of ads spewing fear and Gold as a solution. Lots of swings in Gold prices after lots of sales folks hawking Gold as your safety out let and security in retirement. With all the swings in prices and different entry points how is this working out for folks? Good decision? Not so good decision? A source of retirement related joy or perhaps grumpiness? Thoughts and stories welcomed.
I probably posted this quote by Warren Buffett before, but it bears repeating.
Buffett said, "Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
I am not asking about the value of Gold for investment or retirement purposes but the reality of how it has worked out for retirees or those near retirement. Surely their are those who bought in previous years below a $1,000 or years ago at much lower prices. If they sold at or near the peak they may well be in the Islands on a Winter tour before heading back to their 3,000 sq ft retirement community home. On the other hand there may be those who got in at the $1,400 or higher point and are still holding. How has Gold worked out for those in retirement. If they bought early in the current cycle and sold at the peak they are doing well.
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 .
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 .
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
Hmmm remember Gold was hawked as a safe alternative to main stream investing for those who were fearful of current events so we might be surprised. Also it is rarely discussed for folks to chime in on and perhaps just perhaps it is a source of some of the bitterness we witness here there and everywhere. If they were fearful of mainstream investing and went the Gold route as a safe alternative they still aren't probably going to invest equites now. If they took a beating they aren't likely to jump up and shout it and if they made a killing well you know about bragging around here. So perhaps this is a thread where discussing how Gold has played out in real time and not in the future for ourselves or those we know. You along with others here at one time owned the GLD and that was a what ever for folks. I remember our discussions as I tend to remember much.
i trade in and out of gld . that is the only use i have for it .
gold has been about timing the market not time in the market .
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