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Is Gold the right choice?

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highgoals

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This was interesting reading about gold at the moment.

"In the midst of recent share market turmoil, it seems more and more people are turning to the glimmer of gold.

The price of gold has increased by 500 percent in the past ten years, and experts say its the comfort of putting their money into something tangible that has seen a sharp spike in its demand......"

http://www.howto-tradestocks.com/is-gold-the-right-choice/#comment-153

Gold is an oldie, but goodie, but The Daily Reckoning thinks differently.
 

Because there are no fees or money to take from you if you invest in gold.

The banks and fiancial industry detest gold.

In our two major Victorian daily papers business sections there was not a mention of gold yet overnight it was hitting all time highs in all currencies.

Banks cant get interest out of you and financial advisers cannot pick up any trailing fees. Not hard to figure. And of course a rising gold price says that the value of money is in trouble.
 
Should prpbably be pasted over to the gold thread. Have a read of that other thread highgoals, your answers will be found there. Called "The gold price where is it heading" put it into the search function at the top of the ASF page and it will come straight up.
 
Gold was the right choice in 2006/7 and 8 now i feel its a little late in the game.

i sold out of TRY _ Troy resources today, 3 parcels.

  • Parcel 1 Purchased in 2007 ~ profit 63.80%
  • Parcel 2 Purchased in 2008 ~ profit 368.97%%
  • Parcel 3 Purchased in 2009 ~ profit 102.84%
 
I agree with the above... Gold while is safe when this type of scenario is going on seems really really high... personally I believe oil is a bit underdone at the moment and maybe going long on oil shortly would be a good thing... this is obviously tied closely with the US. However, OPEC has a way to keep oil high too so that's a plus.
 

Wouldn't say it's late in the game. When it correct, you should buy some.

I've heard from several commentators that the DOW/Gold ratio will reach 1:1 or 1:2 (ie. 1 or 2 ounces of gold will be worth the value of the DOW)

Silver is a better play IMO
 
Wouldn't it all depend on what your goals are?

I see gold running way higher against the USD, way way way higher. Doesn't necessarily mean it will do so against other currencies.

And then of course there is the group of people who buy gold for the eventual collapse of current fiat currency.
 
Gold has been the wrong choice for the last 10 years and look whats its done...

No doubt it will pull back shortly and when it does it will be a good time as ever to be on board.

I cant see the economic problems facing the world going away for the next few years, and if gold is considered a safe heaven then surely it will keep up with this uptrend?
 
Speaking of silver... ever heard of Macquarie Mint? Selling silver coins. I don't think they are 999, though.
 

Right on IMO. Long term gold will do well so long as investors have the mentality that it's a safeheaven from all the crap that's going on in the financial world right now.
 
highgoals said:
Speaking of silver... ever heard of Macquarie Mint? Selling silver coins. I don't think they are 999, though.
Click to expand...

I got some junk mail from them .333 I believe. Did not talk much about the content or weight just how collectable they are. Stick with perth mint, ABC or similar.
 
Macquarie Mint deals in numismatics. Although they have some .999 products, those are more expensive than regular bullion.
 
IMHO, Gold is consider safe. It is used to hedge against currency. In the future, gold will continue to go up. But that's just my opinion.
 
Hold Holdings in ETPs Gain to Record as Demand Advances
By Glenys Sim and Debarati Roy - Jul 4, 2012 5:57 PM ET


http://www.bloomberg.com/news/2012-...n-etps-gain-to-record-as-demand-advances.html

excerpt

 
MCX GOLD last week showed downward movement after made new life time high as dollar weaken against rupee now it is around its crucial support of 31400 if it gives closing below this then next support is seen around 31100. On higher side 31800 is seen as strong resistance for it only above this strength is expected.
 
Forum Commodities(23 April at 4.00 pm)
The top 10 threads:
On gold and silver: 5 threads
Copper: 1
Iron: 1
Other: 3
 
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