Do you think the Obama administration will be good for gold?

Will Obama make us PM hoarders wealthy? I guess we can only hope!

 

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It's not his admin but the ones since 1960 that created the economic conditions that he will be reacting to.

For the economy to be good for us PM hoarders will mean it will also be bad for us, and many others.

 

Once you understand that there is no significant policy difference between the republicans and democrats, that is the beginning of wisdom. Republicans such as Bush II can be great for gold, and so can democrats such as Carter. Gold doesn't vote. Right now, I think the economic situation is good for gold and bad for paper assets. This would be true regardless of who was in the White House or Congress. But be careful what you wish for. If conditions get so bad that PM hoarders are "wealthy" in dollar terms, it is also likely that those dollars won't purchase much.

 

So did Bush make you PM hoarders dirt poor?
I don't know if it matters who is in office, for PM's to rise and fall.

 

I agree Gold has no party its just Gold. but the fact are that mining in down no new mines have been opened or found, & China & other country's are tiring to obtain as much gold as they can makes the $$$$ rise.

1 more thing can anyone tell me how much Gold USA owns????

 

Obama will not make PM hoarders wealthy because even if PMs go up in value, the dollar might be plunging in value at the same time. A falling dollar will cause PM's to rise in $ value but all other prices of goods and services will also go up in. Obama will just make the situation worse because he has certain ambitions (i.e. gov't universal healthcare) that will cost a lot of money and we do not have that money. What that means to me is that more money will be printed to fund these programs and that will cause the dollar to lose purchasing power. More money printing by the gov't will cause more $'s to chase the same number of goods and services and that will lead to price increases in everything (including PM's).

If the U.S. dollar completely collapses and goes the way of the Zimbabwe dollar than PM hoarders will be able to barter for food and other necessities to survive.

 

EDITED - Off topic

 

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Man I was bidding on that baby...

 

EDITED
I guess I better stop, as I am getting off the gold subject, sorry.
Thank you!
I do see gold rising as we get deeper in debt to China,printing more money every day with nothing to back it up. I'm keeping my gold!

 

Oh I'm with ya' 100% of the way
Gold and Silver, and Kokapowa Tribe, is staying with Chief T$...
Well soon most people will realize, that the things in their wallet, is a piece of paper with ink... Nothing more.

 

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Hey! Hey! Hey! No politics/free speech!

 

Gold does not change but only lightly fluctuates. An ounce of gold today will by the same value it did in 1850. Only the dollar changes. Use gold to hedge against inflation.

 

Gold & silver will probably rise but not enough to take most folks to Treasure Island.

Actually, the price of oil has risen faster than gold this year because in addition to being a limited resource, it also has a practical use as a source of energy. This has attracted some investors who would normally be buying PM's.

Other than a store of value, practical applications for gold are limited to jewelry and a few industrial uses. Silver has more industrial uses, but in spite of arguments that silver should be much higher due to supply constraints, there seems to be no real shortages. If silver were in greater demand as a metal for currency, this could narrow the wide spread between the price of silver vs. gold. This is unlikely to happen however.

Arizona Jack has it right. PM"s are not a vehicle for getting rich, they're a a way to hedge against inflation.

In addition, PM's can be used as "insurance" to protect other parts of a portfolio (stocks & bonds) from "Black Swan" events. Black Swan events are unlikely occurences that cannot be mapped or included in predicting future investment returns. Examples of Black Swan events are natural disasters (earthquakes, floods, etc), wars, terrorist events and plagues (flu epidemics, etc.).

Most successful money managers with good long term results think a 10% position in PM's would be a reasonable allocation.

 

Good write ups. I've probably got a little bit too much gold in ratio to my stocks. My gold is about 10% of my portfolio, and could be argued I should have about 7%, but most of us are coin collectors, and there's my difference.

I am hoping that our stock markets have actually tanked and on the way back up, but I see possiblilties we could be in for another fall before the year is over. If my first hunch is right, then I should be okay, because I loaded up on stocks mid-March. I've been very fortunate, and made a lot of money so far this year in the stock market. Fortunes turn in times like these, and millionaires are made every day. Stock will rise again, and those that were lucky enough to have cash to buy now, will reap the benefits from those that lost it all, when their $80 stock dropped to $2.

Only time will tell.

None of us really own anything, we just borrow things while we are here on earth. Some of our borrowed items we feel that are priceless. Some of us have nice coin collections, and if we don't pass the art of coin collecting on to our heirs, then one day they will probably be sold for pennies on the dollar. Most all of us have been to estate sales, and found those bargains at one time or other.

I'll quit ramblin' now, haha.

 

This is correct!
Here on CT politics are NOT allowed....if you want to talk about that, then go to the PRWE forum.

I know that this topic could go off topic very quickly, and so I'm going to keep a close watch on it. Let this be a warning.

Speedy
Moderator

 

AHHHH Speedy I see RED!
lol

 

Anyway along with the price of gas rising, you can see that a few years ago one silver quarter would get you a gallon of gas. Now that quarter is worth 2.50 in silver and what's the price of gas? It's all relative

 

Gold is a hedge against inflation, but it does have its ups and downs, IOW inflation can rise ten percent in a year and gold might go up 25 percent, over time it balances out pretty well, so when you see gold outstripping inflation then there will probably come a time when gold will not rise as much as inflation.
People tend to chase trends, and arrive as the trend starters are leaving, one of the money collections that I have prepared for is credit card collecting, I feel that at some date people will collect old credit cards, since most old cards were cut up after expiration there might not be many of them around, so some could be rare.