Gold hits highest price in at least 5 years

I fell on my head when I was 2 and I haven't recovered yet.

 

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I can't wait to read all the scholarly posts once gold crests $2000/Oz.

 

Your grandfather is correct. Hang onyobthem for now.

 

Is it the coronavirus?

 

Or the collapse of the US political system? It's not the stock market. What is it?

 

It's a hedge against "the potential" of rising inflation and weaker Q1 earnings due to Coronavirus-related supply chain disruptions. There are a lotta container ships that are being quarantined.

 

Some folks like the security of bullion...should a currency crisis wipe out their paper "wealth".

 

I'm not talking about bullion or a currency crisis wipe out. I'm talking about grandfather.

 

Your grandfather was a wise man. Be sure you and your father are aware of the tax event when selling that much gold. The cost basis at his passing should be documented. See your own advisor

 

When gold hit $ 2000 oz this year , you will see more crazy price on gold .

 

Imagine $3,000 an ounce !!

 

It is fun imagining any wild price the market may reach.... But who on earth would buy?

 

When a feeding frenzy starts the buyers go crazy. Maybe none on here but enough. Seen it before.

 

Yes, if the price goes high enough , maybe the gobermint will take it away

 

Yeah, who the heck would ever pay over $35 an ounce for silver? Oh wait, TONS of people who came here predicting $100 an ounce.

No one ever said markets are rational. Human emotion takes over at a certain point, and movement begets movement. I prefer being unemotional, and buying when no one cares and it's boring, then simply holding the position long term. I do this with stocks, real estate, all investments. I am weird though.

 

Well, the last time gold doubled in price, there was no shortage of buyers...

 

Yeah.... After I made the comment I remembered the last time silver went thru the roof. And sadly, I was a buyer..... I suppose I wanted to conveniently forget my learning curve.

 

Yeah, gold is up to $1643 and change, what's up? I hope it keeps going up, up up!!

 

Highest since 2013 in fact. Prices were averaging around ~1300 in the mid 2010's.

 

How are we supposed to discuss gold without SOME reference to the political situation when that is what is driving the upward move ?

This reminds me of the late-1970's and the Carter Administraiton and the political folks prohibited the economic folks from using the word "recession." So Alfred Kahn and others had to call any slowdown or GDP drop "a banana."

Other sites have Off-Topic places where sensitive stuff can be discussed, do we have that here at CT ?