Next Level: GOLD $1,350.00

gold high - $1,228.60/oz.

 

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CURRENTLY:

GOLD: $1,227.80 -- High so far today $1,228.60
Silver: $18.48 -- High so far today $18.51
Platinum: $1543
Palladium: $487

 

Hmm....some group of people decided to up the ante on PM's this weekend. A joint effort.....

I'm seriously starting to think about ETF's now, with these kinds of swings I wonder how much I can make....

 

I like SLV. Even though it's a lot easier to liquidate quickly if you get that opportunity, making a quick flip isn't really prudent investing what with all the fees, taxes, risks involved.

edited to add: Morningstar has a series of articles on ETF investing and related tax topics you might like to peruse.

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CURRENTLY:

GOLD: $1,225.10 High so far today $1,228.60
Silver: $18.42 -- High so far today $18.51
Platinum: $1539
Palladium: $487

 

Thanks, looks like we had a pretty good day today in the world of PM's.

Off topic, would you happen to know if it is possible to invest in ETF's with your 401K?

 

Not entirely sure. The 401k plans that I've been offered by my employers in the past did not allow employees to select individual ETFs but instead offered an array of regular mutual funds that were already blended and sorted according to risk. In IRAs you can usually select individual ETFs like buying equities as well as buy into a fund.

 

I'll have to look into it. It's so funny, cause right now, I just don't care at all about mutual funds. I want to go all out into silver ETF's....

I found this.....

http://www.investopedia.com/articles/retirement/07/ETF_401k.asp

 

That link is a general source of terminology. Very helpful. Those 'trends' scare me about ETFs though. Too many people are piling on for safety and expecting to be rewarded with the bad economic climate. I'd be afraid to get in to ETFs now at this point, especially risky, as you said "go all out into"... that's putting too many eggs in one basket, along with everyone else's eggs too! Yikes! you know? I've been playing with SLV for a while, sold most of it off and still have a little toe in, just in case. There seems to be mountains of pros and cons on these things and it's hard to play it safe given this climate. They are risky and volatile but yet easy to unload compared to physical. Do lots of reading before you buy into them. Maybe Cloud will step in with some advice on these. He's spoken about them in the past briefly, but talk of these things always draws heat from the physical-only crowd and talk gets mired.

 

I actually remember what Cloud said about ETF's, basically be careful and READ THE PROSPECTUS. It is indeed scary, I suppose it's that I really don't trust anything out there to be honest with you. I don't trust blue chips, actually, I think I trust oil more than anything else.....

I don't know where there has to be a ETF crowd and physical crowd, at the end we are all really on the same side, just different mentality. The physical crowd are the long term holders and ETF's for the most part are looking for flipping...at least that's my take on it. No harm in doing both!!! But as you've said, the fees may take a bite out of any potential profits that make it even worth your time to bother doing it.....

 

Well, you know, the physical only crowd usually stands behind the notion that if you ain't gripping the gold and silver bars with your cold dead hands in the middle of a gun battle with the Man, then you ain't in possession of said investment! LOL! They don't trust 'paper'.

 

Oh yeah, I don't trust paper either. I'm sure some of the physical crowd are a bit too hardcore, I mean, if they are holding gold in one hand and ammo in the other, then we are in much bigger trouble than what a couple rounds fired off can get you....when it comes to that, I'm much more conservative in thinking....

I suppose it's because I look at 401K's, Roth's, anything that invests in Wall St. as throw away money. I don't count on it and I don't want to have to survive on it, so I look at it as icing on the cake if the ETF's do well. For example, I don't even bother looking at what I'm suppose to get from social security when I retire....I absolutely believe whatever it is, won't be nearly enough. Probably will only cover my cable bill!!!!!

 

I was grossly generalizing with my stereotype of course, by you know what I was jesting about if we talk about paper investing in bullion forums we draw attention to the contrary, but it is still a legitimate investment vehicle to consider for some interested in commodities.

 

I look at physical holders as more conservative and hobbyists. Like our member here who collects silver art bars. I'm sure there are many that just love the beauty of these coins....and as a side effect, they hold value!

 

So true! where is 1970SilverArt? Been off a few days...

 

Prices are back up, maybe he'll return....just like a certain lady.....

 

LOL! Hope he brings more art bars to show... we need to get Elaine working with a camera too!

 

She can't afford it, every cent goes to her outstanding gold/silver collection.

 

She'd love that excuse! LOL!

 

CURRENTLY: In UK/EU markets for Tuesday 8/17/10...

GOLD: $1,228
Silver: $18.59
Platinum: $1550
Palladium: $495

US market opening in approximately ninety minutes....

 

CURRENTLY: In the US market for Tuesday 8/17/10...

GOLD: $1,226.10
Silver: $18.58
Platinum: $1549
Palladium: $497