Gold hits highest price in at least 5 years

Discussion in 'Bullion Investing' started by myownprivy, Feb 19, 2020.

  1. fretboard

    fretboard Defender of Old Coinage!

    Exciting days ahead if it keeps going up! smiley-laughing024.gif
     
    xCoin-Hoarder'92x likes this.
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  3. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    Unfortunately every bit of PM gain is diminished and overshadowed by the loss to millions of 401-k's.
     
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    It's disaster insurance...it pays off if gold goes over $3,000/oz. with a move of $1,000 in a week.
     
  5. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    EXACTLY! I'd rather have status quo on the PM prices and avert the disaster. ;)

    My 401-k is exceedingly more important to my retirement than my minuscule PM hedge.
     
    GeorgeM, tibor and GoldFinger1969 like this.
  6. Two Dogs

    Two Dogs Well-Known Member

    ...and loss of lives.
     
    GoldFinger1969 likes this.
  7. Two Dogs

    Two Dogs Well-Known Member

    Maybe a couple nukes could go off and PMs would really go up. Or tens of thousands of deaths. Be careful what you wish for.
     
    GoldFinger1969 likes this.
  8. -jeffB

    -jeffB Greshams LEO Supporter

    And then what? Do you sell, locking in a 100% gain (assuming you bought at 1500), or do you hold on for $4K? $8K? What if it drops back to $2K?

    Even today, with markets down 3% or more, I'm happier holding dividend and growth producers than inert metal. (I am happy to be holding some of the latter, of course.)
     
    masterswimmer and GoldFinger1969 like this.
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Ask me Wednesday November 4th. :D

    Agreed, but if the market falls 57-83% as I recently wrote (hoping to get on CNBC or FBC to discuss), the dividend yields won't help you.

    And I can tell you some great stuff about "hanging on" after 1929 and how it worked out great but most people have problems holding on for a few weeks or months, let alone a decade or more. :D
     
  10. -jeffB

    -jeffB Greshams LEO Supporter

    Well, they'll certainly decrease.

    Oh, you don't have to tell me, I'd be a child of wealth if Mom's parents hadn't been wiped out in the bank holiday. But it's been going on 90 years since that happened, millions have been born, lived, saved, retired, and died without ever seeing a big crash. That might be luck, or it might be that modern policies actually do help to keep crashes at bay...?
     
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  11. fretboard

    fretboard Defender of Old Coinage!

  12. GoldFinger1969

    GoldFinger1969 Well-Known Member

    If gold is rising (or falling) because of politics, how are we supposed to reference it without mentioning the political issue or individual ?
     
  13. -jeffB

    -jeffB Greshams LEO Supporter

    If we can't talk about a topic without bringing in political contention (which I think is what the rule seeks to avoid), then we can't talk about the topic here. Yes, that curtails some discussion of numismatic topics.

    I've decided I much prefer a forum where politics and 10% of on-topic issues are off limits, because politics tends to completely consume any forum that doesn't exclude it. We've lost higher-profile posters than me who disagreed.
     
  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    If political discussion is appealing the partisanlines.com forum has all a person could ever want. I am absolutely with you, Jeff. Keep my coins separate from bombshell topics. Even if it means we have to tip-toe around certain subjects.
     
  15. fretboard

    fretboard Defender of Old Coinage!

    Gold up to $1668 give or take a few bucks but still, if you're holding a little, that's enough to make you smile! :D
     
  16. -jeffB

    -jeffB Greshams LEO Supporter

    Over $1671 now. All things considered, I'd still rather be watching the value of my gold sink.
     
  17. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I'm with you. My gold won't be cashed in until after my demise anyway. And the factors that seem to be creating this chaos are rather chilling.
     
  18. desertgem

    desertgem Senior Errer Collecktor

    As mentioned, you don't, if you have to be more specific than just saying "due to politics" . if you mentioned your opinion of the individuals or government action, etc. You will have problems. If you favor someone for an office or action that is part of a political action group or even political slogans or avatars, you have problems. The owners are serious, so the staff is also. Many would hate to see friends 'disappear ' off the forum, but every 4 years it happens and everyone has been warned so much there is little sympathy for them as they have shown they will not cease claiming it's their "right", but this is a membership forum. Please be around in 2021, stay cool or well medicated, so we have no reasons. Jim
     
  19. -jeffB

    -jeffB Greshams LEO Supporter

    I'm of two minds about it, but if gold hits a peak in the next year or two, I'm hoping my demise does not coincide with it.
     
    fretboard and Randy Abercrombie like this.
  20. Santinidollar

    Santinidollar Supporter! Supporter

    Gold is proving its value as a hedge with stocks and bonds both sailing south. That’s why it’s worth keeping around in the proper proportion.
     
  21. desertgem

    desertgem Senior Errer Collecktor

    Tomorrow is still another day to crash PM down again this week. The people who wish the market to stay at highest level for reasons we can't discuss will be dumping cash and incentives into to pump it back up and that drives PM back down. Who has the most cash?? PM principles and dealers , or Stock principles and skyhigh marketeers? IMO, Jim
     
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