GOLD-is now the time to buy or sell?

GOLD-Is this the time to buy or sell? I would like to have all the different opinions on this subject.

 

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As a collector I bought one each Unc. and Proof Monroe First Spouse coins. As an investor I would not buy gold now.l

 

I own all of the First Spouse Gold coins, but most I bought at much lower prices. I am a collector, not a flipper. I bought them because I like them.

I personally would like to see it drop a bit so I could buy more. Do I think it is going to $700/oz any time soon? Absolutely not. I do believe long term, that it will go MUCH higher.

I hear that way more people are buying than selling now.

 

Sell!!!!!!

 

now is the right time to buy! Everyone who held gold coins as an investment is taking their profits at the moment, which means that there is an abundant supply of gold on the market right now. This means that the premiums that coins had a year or two ago have been thinned out (i.e. a generic Saint in 64 is selling for about $1250 right now which is only 275 above it's melt price, for a nice coin; whereas 2 years ago when gold spiked over $650 they were selling for about the same price which was double the melt price). The value has increased on this coin because 2 years ago you could only get $650 worth of gold in your MS64 saints and now you can get nearly $1000.

The other reason to be buying is that there is no indication that the politics governing the ongoing devaluation of the US$ are changing anytime soon meaning that inflation will continue and gold is a good store of value during inflationary period.

 

People too young to remember the mid to late 70s will probably tell you to sell now. I remember when gold went from $35 to $100 the first time, the few people lucky enough to own gold were selling. Of course, gold went on to $850 with many scarey dips along the way. Now we have a similar situation. The price of gold is only about 18% higher than the old high price. You can use any of the inflation calculators on the web and quickly discover that gold isn't really that high at all. Another thing to consider is that institutions and individual have not, for the most part, even begun to buy gold. In the late 70s there were news stories on TV showing people lined up around the block in New York City waiting for hours to get into a coin store for the chance to buy a Krugerrand. The mother of a young woman in my office took all of her money out of the bank and bought gold coins and Ceasars World, the hot casino stock of the time that ran up from $2 to $80 and back to $2 all in about one year. So when you start hearing stories about people cashing out their savings accounts and mortgaging the house to buy gold, that will be the time to sell. And there is a good chance that by then, the price will be higher than you ever thought possible. Your friends and acquaintances who know you collect coins will beg you to sell them a little gold at prices that will make you wealthy. It's something to look forward to.

Of course, this is only my opinion and comes with no guarantees. It should be considered a fairy tale until proven otherwise.

 

It sure is!

The problem is that without a very good crystal ball, there's no way to tell which way to go.

 

I'll be selling some gold and silver on Tuesday or Wendesday, there is a Fed rate cut expected.

 

how many kilos did you put away

 

here is my moneu back gurantee one of the following i ssure to happen

gold will go up
gold will go down
gold will remain the same

 

Explanation Desired!

Please educate this forum on how and why U.S. Fed rate cuts/raises both directly and indirectly affect gold, silver and other precious metal prices. I have a fair understanding, but far from really knowledgeable about prime, discount and money market rates, funds, etc. I have a feeling at least some other forum members may be in the same boat. Thanks for your help!

 

Aww man, you must know someone on the iniside!

 

If the Fed cuts again on Tuesday, and unfortunately they probably will, inflation will continue to rise, and the price of commodities, including precious metals will continue to rise. I won't be selling Tuesday, Wednesday, or any time soon.

 

I hope you people arnt selling yet. Gold is going to go higher.

 

That's like saying, "Rain is predicted for today, so I plan to leave my umbrella home."

 

Another Fed cut, more money into the system, printing presses at the BEP working fast and furious to load the tools for inflation into the system. And precious metals, foods, oil products, all imported goods save Chinese all ascent precipitously in value.

Good job Bush administration.

 

gold headed $1,400.00

gold still consider a good buying opportunity. strong buy recommended. of course silver will be better than gold. right now since dec.31,2007 silver up 40% while gold up 20%. the ration is 2 : 1.

 

Nice!!! The government announced today that inflation for February was 0 (zero). Is it just me, or hasn't the cost of everything been going up like crazy? Oh, that's right....core inflation takes out food and energy. The two things we use EVERY DAY.

 

Well milk is like $3.99 a gallon, bread has gone up to $1.17 a loaf, petrol is $3.35 a gallon. Sounds like the government accounting has a lot in common with the folks in Zimbabwe, where they have no inflation either, but their dollar is now 12.5 million to one US$ and seems to be the only currency declining in value more precipitously than the US$.

Sounds like they have their heads rammed up their posterior regions.

 

Notice I said some, gold and silver always spike pretty high after a rate cut. Cash out some at the right time and then buy some more once the market over correction comes. I was also suggesting that anyone looking to sell should at least wait until then.