Half gram gold. Can that be popular?.

I'm in the process of selling off all my gold.

If society didn't collapse with all the stuff that happened over the past few months, then it never will.

When silver starts pushing close to $20 an ounce again, I'll sell off all of that too.

There are too many factors in place that will prevent the insane spot prices that some people have been predicting. Yes, there will be $2000 an ounce gold and $50 an ounce silver, just not in our lifetimes.

 

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do not sell gold and silver. it will gradually go up again. this year and next. it should hit $1,200.00.

 

In my lifetime, I have seen gold rise from $35/ounce to the current $900/ounce. The powers that be tried to keep the price at $35/ounce, but in the end, they had to give up on that idea. Then there was an intensive effort by central banks to keep the price in the $200-300 range, but in the end they had to give up on that, too. Now they're trying to put the dampers on gold at the $800-900 range. How long that will last is anybody's guess. But today things are getting trickier, with nouveau riche countries like China and India buying gold, and various movements that are suggesting a move away from the US dollar as the world's sole reserve currency.

 

It WILL go up again, but as to when it will happen is pure speculation.

I was here a year ago when people were saying to buy all the gold you can because it will hit $2000 before the end of the year, and we all know what actually happened.

Your predictions are just that, predictions, and they are not based on anything other then speculation.

 

Inflation plays a big part in all of this.

How much could $35 buy when you were born? How much do the same goods cost today?

If you look at the history of gold prices once they've been adjusted for inflation, there's highs and lows for sure, but the numbers are nowhere near as impressive as the unadjusted numbers.

I know this is comparing apples to oranges, but in 1971 my dad bought a Dodge Charger for $3000. Today, that car would most likely sell for over $100,000 (if he still had it and it was in pristine condition... lol).

In 1971 gold was $40 an ounce and $3000 would get you about 75 ounces. Today, that gold would be worth roughly $70,000.

Should my dad have spent his $3000 on gold or a classic car?

 

Wow-- as you said, apples and oranges.
Most of the '71 Dodge Chargers I looked up on the Internet in pristine condition (if there is such a thing) were far below the $100,000 price level. And considering that weather and elements play havoc with the steel in a car, you would have had to have stored your car in a nice, safe place for nearly 40 years. The same amount of gold would have taken far less space and required far less attention to the elements.

At the same time, you couldn't buy gold bullion per se in 1971, just coins. Of course, your profit would have depended on what coins you bought-- and chances are, if you had bought $3000 worth of generic gold coins in 1971 as an investment, you would probably have sold them during the gold run-up of 1979-80, for a nice profit.

One more thing about gold-- it's fungible and liquid. If you have a gold bar or bullion coins made by a reputable refiner/government, you probably won't have to quibble too much about the price when you sell. Selling a car, on the other hand, requires a lot of negotiation and patience, and chances are you'll get far less than what you expected when you finally are able to unload it.