Most people don't actually buy physical, they buy paper gold.

I'd trust paper gold as much as a fiat currency in a crisis, maybe even a little less if you believe the alleged COMEX scam (tin foil hat firmly on head).

 

So you have NO experience of investing in gold? Or investing in anything by the sounds of things

 

Would not surprise me that if Flash was still chancellor he would be buying all that gold back now which he sold at the lowest possible price!

Les

 

If it suits you to believe that, so be it.

 

Tell me if I'm wrong. What investments have you made in gold?

 

Two views make a market DD, just be glad there are sellers out there for you to be able to buy! It's all about who is the most informed party out of the two making the transaction!

FYI Goldman Sachs upgrade gold to £1650/oz

 

Wish I'd bought some last year when I was thinking about it

Never mind, you win some you lose some.

On the flip side, I invested in a JPMorgan fund 2 weeks ago and I'm already 4.73% up

 

I think you pressed 3 instead of 4

 

??

Edit i'm with you now, correct $1650 not £

 

If we're talking defence against an apocolyptic economic collapse the only assurance is small unregistered (exec. order 6102) denominations, in a fireproof safe under the house. That's assuming you have a small, loyal army by your side as you venture out into the terror dome to trade. I don't have a private army, yet, and as such view gold as being nice to look at and a sound investment vehicle in this climate.

 

If you believe the hyper-inflation scenario then gold will not be much use I don't think. Food tends to be the most highly valued commodity. The tables are turned and people end up flogging every kind of precious metals they have just to get by. I suppose one option would be to try and sell it abroad and maybe move into some other country.

Having said that, I'm looking to buy either gold or basket precious metals ETFs, but only if there's a pretty substantial correction. It must have run miles ahead of any kind of average purchasing power historically. Something will probably come along soon and shake up or decouple the markets. Biding my time!

 

I don't think it's going to happen mate. It's a race to the bottom in terms of currencies, so gold will only continue to rise against them. QE2 is on its way and China has signaled again that it wants to diversify its foreign reserves into gold. Hence todays leg up in prices in £ as well as $ (ie not just $ debasement).

I probably going to buy more now, which is saying a lot as most of my existing gold was bought around $650. So I'll now be paying more than double what I paid before.
It sounds like a mad thing to do, but I think there is more bad news to come from the banks, which means they will require further capitalisation and hence printing of paper money by all major nations ie USA, UK, Japan,Eurozone etc

I presume you've been reading about the mortgage fraud in USA that runs into billions? I'll start a new thread on it, people may find it interesting

 

Can't be bothered to start a new thread that will just attract morose comments from the likes of Lewis and that new plonker TDW, so here is the link

http://www.businessinsider.com/forec...market-2010-10

 

My hesitation is that the market is showing that view now - everyone is talking about currency wars, quantitative easing, etc. I'm just reluctant to buy with that in mind and when there has been such a good run. Every so often something unexpected comes along and shocks the market. If I miss out I miss out, but I couldn't bring myself to buy now. Being Scottish probably has something to do with it...

We obviously agree with regards to the ongoing mismanagement of the 'free market' in western economies. That's why the mortgage thing isn't surprising in the slightest; Everywhere you look it's a mess.

 

Who holds then and what did you buy at?

 

I'm holding quite a bit, bought at different stages starting from $650/oz to $850/oz. I've been prattling on about gold for years to anybody who will listen. I've annoyed quite a few people on here as a result!

 

Not my view or analysis but for those that care;

"Gold - Sell signal on TD Sequentail (Tom DeMark)
TD Sequential has hit a red13 (sell signal) on GOLDS comdty .
We have seen a 22% move up since the end July and of late the
rise has been stalling. This could be the time to sell your
Gold Stocks, ETFs."

 

Thanks Alloy, it's genuinely nice of you to keep us informed. As a gold addict I'd look at a correction to buy more

Btw, could you briefly explain how a sell signal is generated?

Thanks again and hope you have a prosperous new year

 

Cheers, Alloy.

 

We owe the man a drink.

 

 

 

Speculators and idiots.
Mostly the latter, though.

 

What idiots who buy gold ???


Or idiots that have faith in paper money which could lose its value overnight ?

Have a look into the history of it from Greeks using it as coins to America coming off the gold standard.

Every paper currency ever used has failed eventually,
Everytime it does Gold is where it's at.

Rather have a gold brick under my bed than a bag of cash.

 

Classic cars?

 

be very, very careful with your gold! I have seen Captain Jack Sparrow around here somewhere, you know what these dam pirates are like! Matey!

 

Yes, a much better investment, no capital gains tax on them

 

I sold property in 2006 and bought gold. In 2011 I sold gold and used debt to buy property. In 2016 I've got rid of all my debt and a little property.


I would like to swap some property for stocks soon.


Partly driven by cycles, partly by circumstance.

 

Hi,
We bought gold when it was much lower priced than today - both coins and bars.
It is so satisfying to hold such small, dense, shiny items in your hand and realise how much they are worth!
Cheers
Steve

 

As I said: idiots.


Asset test 1: an asset increases in value over the long term:
In 1978 when gold last peaked you paid $930 per ounce spot.
Today, 50 years later, an ounce of gold will set you back $1,273.
That's less than a quarter of what it was worth 50 years ago in real terms.
It's hard to think of any 'asset' that's performed worse over the long term.
FAIL


Asset test 2: holds its value:
Go and buy some actual gold, coins, ingots or whatever.
Wait 1 week and then go and sell it.
You'd be lucky to get back half of what you bought it for.
FAIL


Asset test 3: It's rare:
They mine more and more of it every day.
FAIL

Gold as an investment/asset is a worthless hang over from olden days.
The days before you could shift money around the globe in seconds.

Speculators like it though.
They can make money guessing whether it's going to go up and down and bit from day to day.

As I said...