steve7stud 0 Posted May 9, 2009 Share Posted May 9, 2009 Curious to see if anyone knows about gold or precious metals as an investment. Thoughts? Link to post Share on other sites
El Guapo 8 Posted May 9, 2009 Share Posted May 9, 2009 This is a really ambiguous question. What information are you looking for?Yes I do.Yes Gold and other precious metals are investments. Link to post Share on other sites
steve7stud 0 Posted May 9, 2009 Author Share Posted May 9, 2009 This is a really ambiguous question. What information are you looking for?Yes I do.Yes Gold and other precious metals are investments.Well it is a pretty general question.But I wanted to know what people that about it as an investment.......likes, dislikes, etc. Nothing complicated. Link to post Share on other sites
GWCGWC 83 Posted May 9, 2009 Share Posted May 9, 2009 My questions about gold:Is it still illegal to hoard gold?What's the minimum amount of money someone could invest buying gold on the stock market?Would it be possible for the US or any large economy to go back to the gold standard? Does any country still use the gold standard? Link to post Share on other sites
aucu 3 Posted May 9, 2009 Share Posted May 9, 2009 This is my area, I have worked in the gold industry the last 15 years in the mining and exploration end.Good advice on investing in gold is rare.There are five basic ways to play gold-Physical gold-gold pool or certificates where you don't have to worry about starage-shorts-mining companies (medium to large producers will move up and down with the price of gold except more so)-exploration companies (able to go to zero or the moon)I don't give out advice personally to gold newbs as they can get hurt bad. Link to post Share on other sites
El Guapo 8 Posted May 9, 2009 Share Posted May 9, 2009 Well it is a pretty general question.But I wanted to know what people that about it as an investment.......likes, dislikes, etc. Nothing complicated.OK, well here is the quick quick explanation.Gold is typically looked at as a Cash alternative and inflation hedge. It typically acts inversely to the strength of the dollar. People view it as a safe investment. I think this is incorrect, gold trades as a commodity which is highly volatile.I would never hold more than 5-10% of a portfolio in gold. I also think buying physical gold, unless you own a jewelry business is silly.I think the ads that it is going to 2000 an ounce are highly inflammatory and don't know how they can legally be put on the radio. Typical rule of thumb with any investment, if the general public is screaming buy, sell. And vice versa. Link to post Share on other sites
El Guapo 8 Posted May 9, 2009 Share Posted May 9, 2009 My questions about gold:Is it still illegal to hoard gold? No ideaWhat's the minimum amount of money someone could invest buying gold on the stock market? You can buy gold ETF's GLD is currently 89.88 per shareWould it be possible for the US or any large economy to go back to the gold standard? NoDoes any country still use the gold standard? Not sure Link to post Share on other sites
steve7stud 0 Posted May 9, 2009 Author Share Posted May 9, 2009 OK, well here is the quick quick explanation.Gold is typically looked at as a Cash alternative and inflation hedge. It typically acts inversely to the strength of the dollar. People view it as a safe investment. I think this is incorrect, gold trades as a commodity which is highly volatile.I would never hold more than 5-10% of a portfolio in gold. I also think buying physical gold, unless you own a jewelry business is silly.I think the ads that it is going to 2000 an ounce are highly inflammatory and don't know how they can legally be put on the radio. Typical rule of thumb with any investment, if the general public is screaming buy, sell. And vice versa.Very cool, thanks for the info. Link to post Share on other sites
steve7stud 0 Posted May 9, 2009 Author Share Posted May 9, 2009 This is my area, I have worked in the gold industry the last 15 years in the mining and exploration end.Good advice on investing in gold is rare.There are five basic ways to play gold-Physical gold-gold pool or certificates where you don't have to worry about starage-shorts-mining companies (medium to large producers will move up and down with the price of gold except more so)-exploration companies (able to go to zero or the moon)I don't give out advice personally to gold newbs as they can get hurt bad.Thanks. Link to post Share on other sites
grocery_mony 8 Posted May 9, 2009 Share Posted May 9, 2009 Gold couldnt really break to far past $1000 an ounce even with one of the most uncertain times we have seen in 25 years or maybe longer. Cant really see it going to $2000 or higher like some are suggesting now that things seem to be calming down. If I wanted it as a short term speculation I would buy a double or triple exposure etf. Link to post Share on other sites
Ron_Mexico 4,219 Posted May 9, 2009 Share Posted May 9, 2009 I'm going to give my thoughts on gold as an investment in a day or two, so stay tuned Link to post Share on other sites
Sal Paradise 57 Posted May 9, 2009 Share Posted May 9, 2009 I'm going to give my thoughts on gold as an investment in a day or two, so stay tunedDIDN'T SEE THIS COMING Link to post Share on other sites
grocery_mony 8 Posted May 9, 2009 Share Posted May 9, 2009 I'm going to give my thoughts on gold as an investment in a day or two, so stay tunedlol. you do know that maybe 2 people will get this joke? Link to post Share on other sites
Ron_Mexico 4,219 Posted May 9, 2009 Share Posted May 9, 2009 Yeah, but those two people will enjoy it. I'm breaking down comedy barriers two posters at a time.also, my thoughts on Gold as an investment.It may or may not be a good idea.When something is bought and sold exclusively as an investment, sometimes the price can get inflated. Everything like that is a bubble. Gold may be in that stage right now. There might be a point when people buying and flipping gold will get caught when the bubble bursts just like they did with real estate. It's a possibility. Nothing is sure thing when it comes to investments. I read this somewhere. Link to post Share on other sites
El Guapo 8 Posted May 9, 2009 Share Posted May 9, 2009 Securities offered through Ron Mexico are not FDIC insured and may lose value. Investments are not guaranteed, member FINRA and SIPC.FYP Link to post Share on other sites
Ron_Mexico 4,219 Posted May 9, 2009 Share Posted May 9, 2009 I will suck off old men and go downtown on old ladies to secure my financial futureFYFMP Link to post Share on other sites
savagerebel 0 Posted May 9, 2009 Share Posted May 9, 2009 lol. you do know that maybe 2 people will get this joke?I got it and I thought it was great. Link to post Share on other sites
hank213 1,823 Posted May 10, 2009 Share Posted May 10, 2009 lol. you do know that maybe 2 people will get this joke?I think you seriously underestimate Ron's fanclub membership.*Seriously=an estimated 5 or 6 members. +/-2 Link to post Share on other sites
Balloon guy 158 Posted May 10, 2009 Share Posted May 10, 2009 I don't know about gold, but some rich guy here bought up like a LOT of diamonds as an investment about 2 years ago. Like..a LOT of diamonds.He is really rich, so maybe he knows something.It's hard to trust anyone who makes a commision to give you good advice.Except El Guapo of course, because he's dreamy Link to post Share on other sites
steve7stud 0 Posted May 10, 2009 Author Share Posted May 10, 2009 I got it and I thought it was great.I thought it was funny. Link to post Share on other sites
vbnautilus 48 Posted May 10, 2009 Share Posted May 10, 2009 I did not get it, and thought it was funny. Link to post Share on other sites
gobears 0 Posted May 10, 2009 Share Posted May 10, 2009 This website likes gold right now. microcap speculatorAlso, another writer, Lance Lewis, mentioned that GTU is a better buy than the GLD at present if you want to just buy gold on paper rather than buying the physical metal.Most of the technical guys seem to think that gold is on the verge of breaking out to new highs. Link to post Share on other sites
chrozzo 19 Posted May 10, 2009 Share Posted May 10, 2009 diamonds imo Link to post Share on other sites
aucu 3 Posted May 10, 2009 Share Posted May 10, 2009 I don't know about gold, but some rich guy here bought up like a LOT of diamonds as an investment about 2 years ago. Like..a LOT of diamonds.He is really rich, so maybe he knows something.Amazingly bad investment, cultured/synthetic diamonds will kill the market. Link to post Share on other sites
aucu 3 Posted May 10, 2009 Share Posted May 10, 2009 Gold couldnt really break to far past $1000 an ounce even with one of the most uncertain times we have seen in 25 years or maybe longer. Cant really see it going to $2000 or higher like some are suggesting now that things seem to be calming down. If I wanted it as a short term speculation I would buy a double or triple exposure etf.No sane person really thinks Au is going to US$2000, the down side is really no lower than US$750, thats the price that most advanced pojects in the pipline are using as an average price. We are at $900 gold right now it could make a run at $1000 or $1200 but that would be about it for the short term (1-6 months) downside not less than $700.I have no problem with someone like Steve putting away 10-30 oz in a safe beposit box, but the real money is in the stocks.I work in the world of high risk mining stocks and know many of the big players, even with the best information possible I can still get burnt big time. That's the kind of advice I won't give out to anyone not in the biz and doesn't understand the risk. Link to post Share on other sites
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