Is it time to sell gold at $1340 per ounce?

Discussion in 'Bullion Investing' started by myownprivy, Feb 19, 2019.

  1. myownprivy

    myownprivy Well-Known Member

    Brian Calvert strikes me as the sort of guy who walks into the middle of a group of people talking about football at a party and then begins lecturing them on the "dangers" of fluoride in their water.

    It seems that $1340 would have been about the right time to sell for the short term. It did nudge up a few dollars more since then, but has now fallen to below $1325 and continuing to drop. In the intermediate term, through the rest of this year, what do you think we can expect for gold prices?
    Last edited: Feb 27, 2019
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  3. medoraman

    medoraman Supporter! Supporter

    Yeah...its never that simple. For any precious metal to only retain value, it has to go up as much as inflation plus carrying cost. This is excluding the buy/sell spread. So, for most people, it has to it has to go up inflation+1%+1% being conservative. So today that would mean it has to go up like 4-5% a year to only break even. Looking back and saying I could have bought in 1990 for $300, (just making up numbers, I do not recall the actual price then), and adjusting for only 5% growth, that would give you $1234 today. No one got rich buying gold for the investment return.

    PM is INSURANCE. It is not an investment. THe money you lose holding it versus investments is the money you pay for the "oh crud, this country is going to heck, I need portable wealth to get the heck out of here" risk. Short of that, its pretty, my wife loves jewelry made from it, and some cool coins were made out of it. As a standalone investment, it really is garbage long term. Its fine to hold short term, and many of us are either in retirement or nearing it, so that has some value.
  4. almostgem

    almostgem Junior Member

    I agree with Brian, this country is headed for a major crash. When that happens the whole world will suffer. I too am close to retirement and worry primarily about healthcare, so have passports renewed. My wife is fortunate, her heritage allows her to have two passports so she can travel on a European passport. Americans are not well liked around the world, and after a crash will probably be less liked. Where gold is concerned, dollar cost averaging is the way top go, buy at regular intervals and keep track of what you paid. Again, we're fortunate that most of our collection was amassed before 2008 and was purchased well under 500/ounce. Keep in mind that even if gold declines something will eventually happen to make it go back up again. I had a friend that got caught up in the silver frenzy in 1980. He bought several hundred ounces of silver at about 11/ounce. When it came back down he lamented that he couldn't get sell because of the loss he'd take. I hope he held out until it hit 40/ounce in 2011, but I'm guessing probably not.
  5. imrich

    imrich Supporter! Supporter

    We all have individual goals when collecting/investing. One of my goals has been to retain my collection value while determining reliability of the premier TPG. While submitting only previously TPG certified coins to the 2 premier TPG, if a grade is received, submit the graded coins to CAC. This process establishes an independent opinion whether any were representative "respective TPG average grading condition". Many previously Double Eagle coins returned without visual evidence of cleaning, etc., but labeled such, often being resubmitted to realize a grade, even occasionally greater than initial slab statement/assignment.

    When I locate either CACed, PQ, or undergraded "technically graded" Double Eagle coins, I've a major seller who will purchase any of my NGC or PCGS "details" coins at melt "sight-unseen". I've recently sold many believed improperly labeled "top-tier TPG" coins at melt, replacing them with believed more credible valued coins.

    I suggest you consider the relative "value" of your sales to those of future purchases.

  6. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    Regarding the leaving the US, when I asked my father what country we would move to, he said, he isnt leaving, he said past and present Americans worked too hard for this country for him to abandon it, he will always protect it.
    -jeffB likes this.
  7. ToppCatt

    ToppCatt ToppCatt

  8. imrich

    imrich Supporter! Supporter

    I'd suggest you strongly consider/investigate/visit Asia. JMHO
  9. ToppCatt

    ToppCatt ToppCatt

    "Some can't handle it, or chose to ignore it because they could care less ...". The expression is "COULDN'T care less."
  10. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    There is only one place in the entire world I would consider living besides the US, Tel Aviv Isreal
  11. kanga

    kanga 65 Year Collector Supporter

    My 1 oz .9999 gold bar is going to the Whitman show to be sold.
    The current gold spot will give a small profit, and that includes all markups and other fees I paid.
    With that money I should be able to buy 2 or 3 Early Commems in MS that I need.
  12. Daniel Lowery

    Daniel Lowery Active Member

    I say buy. So you should sell.
  13. Kentucky

    Kentucky Supporter! Supporter

    I won't ask why, but just realize that you would be living in a country under a state of siege.
    imrich likes this.
  14. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I know.
  15. myownprivy

    myownprivy Well-Known Member

    $1340 was the time to sell.

    Down to $1287 today.
  16. slackaction1

    slackaction1 Supporter! Supporter

    to late to sell the gold leave dog poop[
  17. Brian Calvert

    Brian Calvert Active Member

    Hopefully you unloaded all your GOLD and those smart enough to stay in are reaping the benefits... AUY bought at $2.34 today at $5.50
    Barrick Gold bought at 13.00 today roaming around $27.00 that is a double 100% gain and a 150% gain.
    This market of GOLD and SILVER is only starting.

    I know what is posted here as the END of fiat currency. Never did I mean to say that "A" fiat currency wont be used. Over 500 years many currencies have come and gone while the bankers ran away with the riches.
    It is happening again, and no, it isnt the SICKNESS causing this. Our country and the lack of sound financial policy has done this... I hope everyone ELSE does great...
    From me... blah blah guy
  18. Brian Calvert

    Brian Calvert Active Member

    LMAO ! From the Fluoride guy. So funny watching people post from their computers things they would never have the nads to say in person. Pathetic
  19. FryDaddyJr

    FryDaddyJr Junior Member

    why what are you gonna do about it if I call you a kook to your face?
  20. CoinBlazer

    CoinBlazer Numismatic Enthusiast

    I’ve been slowly accumulating silver, if I can get around $1000 in Silver value, I’ll try to dabble a bit into gold but I’m less knowledgeable on gold than I am on silver.
  21. Collecting Nut

    Collecting Nut Borderline Hoarder

    It's best to have a little of both.
    CoinBlazer likes this.
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