View Full Version : Investing in Gold & Silver
secret squirrel
06-14-2011, 01:39 PM
Are you investing in gold and/or silver? I do watch the news and know that the dollar effects the gold market so do alot of you purchase gold coins? I did start buying silver, but I have slacked up on that and I am not sure if I need to continue.
Also, if I am posting in the wrong place please tell me where to go (And be nice) to post my newbie questions.
Thank you,
Secret Squirrel
tsptalk
06-14-2011, 01:47 PM
This was on CNBC's website today...
Gold to Reach $5,000 Due to Supply Shortage: Report (http://www.cnbc.com/id/43396080)
"An exhaustive report by Standard Chartered predicts that gold [GCCV1 1524.20 http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_up.gif 8.60 (+0.57%) http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif] (http://data.cnbc.com/quotes/GCCV1) will more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand that most bullion bugs cite in their bullish calls."
konakathy
06-14-2011, 03:21 PM
This was on CNBC's website today...Gold to Reach $5,000 Due to Supply Shortage: Report (http://www.cnbc.com/id/43396080)"An exhaustive report by Standard Chartered predicts that gold [GCCV1 1524.20 http://media.cnbc.com/i/CNBC/CNBC_Images/componentbacks/watchlist_up.gif 8.60 (+0.57%) http://media.cnbc.com/i/CNBC/CNBC_Images/backgrounds/realtime_icon.gif] (http://data.cnbc.com/quotes/GCCV1) will more than triple to $5,000 an ounce because of a lack of supply, not just because of a surge in demand that most bullion bugs cite in their bullish calls." I hope it does go to $5000. I bought gold coins in 2005-2007 average @$700 and silver @$9. I'm already in a sweet spot.
tsptalk
06-14-2011, 03:39 PM
Good for you for hanging on for so long during the volatility!
ArchAngel
06-14-2011, 04:03 PM
Physical silver yes, gold no. Too rich for my blood (shoulda started 10 years ago!). I am doing PSLV and PHYS however.
nnuut
06-14-2011, 08:41 PM
Gold $5,000 My Butt! Good bye Mr. America!
konakathy
06-14-2011, 10:52 PM
Gold $5,000 My Butt! Good bye Mr. America!
What are you saying exactly? That your butt is better looking than Mr. America's? ;)
Warrenlm
08-23-2011, 07:13 AM
Marc Faber interview this am: Hold off buying gold now until correction; hold physical gold but not in the hands of US custodians or US bank safe deposit boxes. Use Canadian, Singapore, Australian, Swiss banks. This was questioned by the interviewer as in "don't you trust US banks?" and he answered I don't trust anyone.
I guess it's possible that the USG could seize physical gold held by its citizens and exchange it for USG promises. Something to think about.
Peter Schiff was pushing an overseas custodian last May.
KevinD
08-23-2011, 07:35 AM
I have a couple of gumball machines on location and the past 2 times I have serviced the machine at this one location I have found a single silver quarter each time. I only service the machines every 6 weeks and so far have only found 2 silver quarters but it's a start. :D The first one was a 1944 and the second was a 1935.
These finds have piqued my interest in "junk" silver. Anybody know anything about junk silver?
Happy_Trails
08-23-2011, 07:36 AM
Marc Faber interview this am: Hold off buying gold now until correction; hold physical gold but not in the hands of US custodians or US bank safe deposit boxes. Use Canadian, Singapore, Australian, Swiss banks. This was questioned by the interviewer as in "don't you trust US banks?" and he answered I don't trust anyone.
I guess it's possible that the USG could seize physical gold held by its citizens and exchange it for USG promises. Something to think about.
Peter Schiff was pushing an overseas custodian last May.
Faber is an extreme perma bear. I was surprised that he said to hold 25-30% equities. Also, why hold physical gold if it's going to correct. Sell it at an all time high if it's going to correct, right?
KevinD
08-23-2011, 07:57 AM
All this talk of gold and silver being in a bubble has me wondering if "all yall" think the dollar has bottomed.
clester
08-23-2011, 08:27 AM
What is the best way to hold gold in a Roth Ira?
KevinD
08-23-2011, 09:23 AM
What is the best way to hold gold in a Roth Ira?
This guy wants money to tell you how. I listen to his (free) podcast...
http://financialsurvivalradio.com/goldsilver/
Warrenlm
08-23-2011, 10:00 AM
Faber is an extreme perma bear. I was surprised that he said to hold 25-30% equities. Also, why hold physical gold if it's going to correct. Sell it at an all time high if it's going to correct, right?
I don't think he thinks the current price is an all time high, in the context of the question he was asked, "should people buy gold now?" The thing I took away was the relative higher risk in ETFs (he called them only "claims" on gold) and physical gold held in the USA. A lower risk to hold the physical gold in specific countries. I seem to recall the USG doing something about gold held by citizens before. And in the context of the future need of the USG to have its citizens more "invested" in its debt.......maybe just invested and maybe in exchange for annuities.....
clester
08-23-2011, 10:22 AM
I don't think he thinks the current price is an all time high, in the context of the question he was asked, "should people buy gold now?" The thing I took away was the relative higher risk in ETFs (he called them only "claims" on gold) and physical gold held in the USA. A lower risk to hold the physical gold in specific countries. I seem to recall the USG doing something about gold held by citizens before. And in the context of the future need of the USG to have its citizens more "invested" in its debt.......maybe just invested and maybe in exchange for annuities.....
That is really my question. How could you do what Faber says with IRA funds?
Warrenlm
08-23-2011, 10:33 AM
http://commoditybullmarket.blogspot.com/2009/03/how-to-own-physical-gold-through-your.html
I saw this 2009 article through google and it says how, but for most investors the answer to is it a good idea is 'no'. I guess that is unless, you believe you need physical gold, and that physical gold better be outside the reach of the USG .....new laws.
Happy_Trails
08-23-2011, 10:51 AM
Gold - this time it's different. It will go up and up and up. Buy, buy, buy! Just kidding folks. Gold reminds me of real estate a few years ago. When it pops, it's going to be ugly. It could keep going up though - it is hard to figure out what it is time to hit the exits. Bubbles don't always burst when we expect them to.
Birchtree
08-23-2011, 10:57 AM
When I bought my 15 one ounce gold coins in 1980 it was right at the top of around $800 - the price then bottomed around $360. I've held my coins all these years because they are simply beautiful and will someday be gifts to grandchildren. I've been coaching my daughter to wear her gold Woodstock bird but so far she doesn't realize the value and lacks courage. I think she would get positive comments.
Warrenlm
08-23-2011, 11:06 AM
Everything depends on your investing horizon. If you are concerned for the wealth of your prospective grandchildren, that's one view. If you're concerned about the costs of membership fees for boutique doctors and disallowed tests, that's another view. :)
Birchtree
08-23-2011, 11:30 AM
I remember buying three gold rope chains in the mid 1990s that were part of an estate jewelry sale - two for my wife and one for my daughter. They didn't look that good initially but once cleaned they were perfect - heavy gold chains. My wife never takes her's off unless I'm cleaning them. I have all the gold I need.
Happy_Trails
08-23-2011, 11:33 AM
When I bought my 15 one ounce gold coins in 1980 it was right at the top of around $800 - the price then bottomed around $360. I've held my coins all these years because they are simply beautiful and will someday be gifts to grandchildren. I've been coaching my daughter to wear her gold Woodstock bird but so far she doesn't realize the value and lacks courage. I think she would get positive comments.
What percentage (if any) of the Oceanic is invested in gold or silver? With your time horizon and buy & hold approach, I could see you having a limited exposure to gold in the Oceanic.
Birchtree
08-23-2011, 11:37 AM
I own Jaguar mining (JAG) in silver - other than that I'm trying to turn my coal positions into diamonds. If Bernanke floats a QE3 commodities will rip.
law87
08-23-2011, 12:01 PM
I own Jaguar mining (JAG) in silver - other than that I'm trying to turn my coal positions into diamonds. If Bernanke floats a QE3 commodities will rip.
chances that will happen? i dont think so..
if QE3 were to happen i think fed would announce it at the begining of the week so the market can rally on the news.
whats the point of announcing the day before the weekend?
Birchtree
08-23-2011, 12:07 PM
I do own Signet Jewels (SIG) just incase diamonds begin to appreciate again. I bought a .96 carat pigeon blood ruby back in the early 1970s and my wife wears it instead of the standard diamond center. Her ruby is surrounded by two .25 carat vvs quality diamonds. I doubt that I could even come close to affording a ruby of that caliber today. When my original fiancee left me for a married doctor I demounted the stones and just waited years for the right woman to wear them again. The problem was I had three .25 carat vvs diamonds and her ring finger would only hold two. So what to do. I consulted my local jeweler to try and trade three diamonds for even higher quality - I was told I was already there. I could put one in my ear - nah, not me. So I bought a gold rose and had the diamond embeded into it and my wife wears it every day on one of her chains - simply beautiful. So I like gems.
malyla
08-23-2011, 12:14 PM
I own Jaguar mining (JAG) in silver - other than that I'm trying to turn my coal positions into diamonds. If Bernanke floats a QE3 commodities will rip.
But isn't QE1-2 and possible QE3 a handout from the federal government and tax payers to wall street and the banks? Aren't we suppose to be against entitlements including the newest one that is designed to 'float' the market but did nothing for the economy?
Oh yea, Jon Stewart said it best... "See, this is the problem with entitlements. They're really only "entitlements" when they're something other people want. When it's something you want, they're a hallmark of a civilized society, the foundation of a great people.
http://garthright.blogspot.com/2011/08/entitlements.html
If we want to get rid of entitlements, lets start with the ones that benefit wall street at the expense of the economy. Then work on the entitlements for those who do not need them like the Bush tax cuts entitlements...
My two cents:D
tsptalk
08-23-2011, 01:51 PM
The gold and silver discussion went off track from here. I moved the posts in The Economy Forum:
http://www.tsptalk.com/mb/showthread.php?9859-Taxes-and-the-Economy
tsptalk
08-24-2011, 02:30 PM
I'm guessing that this has been mentioned in other threads today, but I thought I would post it here as well...
Gold is down over $100 an ounce today! That's it. :blink:
I can only images the fortunes that are being lost and gained in the gold futures market on a day like this. Trading just one lot would see massive moves in your account balances.
clester
08-24-2011, 02:39 PM
I'm guessing that this has been mentioned in other threads today, but I thought I would post it here as well...
Gold is down over $100 an ounce today! That's it. :blink:
I can only images the fortunes that are being lost and gained in the gold futures market on a day like this. Trading just one lot would see massive moves in your account balances.
That's why I am not in those markets. Feels like 1999 when NASDAQ went through the roof.
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