Is NOW a Good Time to Buy Gold?

Discussion in 'The Okie Corral' started by Short Cut, Feb 9, 2010.

  1. Short Cut

    Short Cut PatrioticMember CLM

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    Who thinks it is a good idea to buy gold right now?

    On a somewhat related note; what's with the bombardment of "buy gold" commercials these days?
     
  2. stravis

    stravis

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    Buying at a high point is rarely a good idea. The reason you see all the commercials is because the folks who own gold know that now is the time to sell (buy low sell high), so they run these ads to sell what they bought cheap.
     

  3. JBnTX

    JBnTX

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    Exactly!

    If they REALLY thought Gold was going to double in price,
    don't you think they'd be wanting to buy Gold from you instead of trying to sell it to you?

    Think about it!:whistling:

    Buy low and sell high is solid advice:
    Right now Stocks are low and Gold is high!

    It's not rocket science.
     
  4. JBnTX

    JBnTX

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    Check the long term price history of Gold.
    Ignore the last five or six years and focus on the long term.

    You'll see periods of time where Gold has lost almost 50% of it's value
    over a period of about five years. (Yes, despite what you're told Gold
    can and does suffer major price declines just like Stocks.)

    The average price of Gold in 1987 was 486.50 an ounce.
    The average price in 2001 was 271.04 an ounce.
    http://goldinfo.net/yearly.html

    The best kept secret about Gold is that many people believe it's
    on the verge of another major price decline.

    That's why they want you to buy it from them.
     
    Last edited: Feb 9, 2010
  5. mitchshrader

    mitchshrader Deceased

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    is it a good idea to buy gold?

    i will happily construct a budget for you if you'll give me access to all your financial data and pay me 45$ an hour.

    Otherwise, make your own financial decisions. Or did you think that you'ld get relevant advice for free?
     
  6. Kkille1LSU

    Kkille1LSU

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    I'll give it to you for free.
    It is a bad time to buy gold for invesment. It is highly inflated.
    Good time to buy gold if you think the the USA and its economy is on borrowed time and it will all crash soon enough.
    I would wait a few years and see where it drops back down. I think Glen Beck is doing a very good job trying to scare the hell out of people into buying gold.
     
  7. Short Cut

    Short Cut PatrioticMember CLM

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    Regretful remark withdrawn.
     
    Last edited: Feb 9, 2010
  8. the iceman

    the iceman Proud Veteran CLM

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  9. marlinfan

    marlinfan

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    I try to keep 10% of my savings in silver and gold.
    I'm not in it to make money, I'm in it as a small part of my long-term savings plan. I've got 30 or 35 years til retirement so I plan to keep plugging along at the precious metals thing along with the 401k, savings account, kids college account etc. I don't get too excited about price fluctuations.
     
  10. mitchshrader

    mitchshrader Deceased

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    you ignored the idea that what's smart for one is stupid for another. sarcasm definitely intended.

    however, your vagueness isn't cause for my discourtesy. l was wrong to respond rudely. I'm sorry, and will attempt in future to think first and comment second.
     
    Last edited: Feb 9, 2010
  11. devildog2067

    devildog2067

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    I don't need access to your financial data, I've seen your 1911 collection :wow:
     
  12. 220-9er

    220-9er

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    Question #2. They have large transaction costs built in for people like us. The people doing the ads are making money if you buy or sell, anything but hold.
    Question #1. Unless you are sure that gold will go up in value more than the amount of the transaction costs (buying AND selling) plus some amount you would accept as your profit, then no.

    The people doing the ads have more insight as to future gold prices than most of us. If it is likely to go so much that it would be a good idea for you, why wouldn't they just hold onto it like they are telling you to?
     
  13. JBnTX

    JBnTX

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    Smart Plan!:wavey:

    You'll be rewarded very well one day.
     
  14. I'M Glockamolie

    I'M Glockamolie

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    Sounds like someone has listened to Dave Ramsey. I don't always agree with him, but in this case I do.
     
  15. cdog533

    cdog533 Zombie Killer

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    Based on the US Debt Load and the inflationary pressures on the dollar, I think it IS time to buy gold.

    According to Peter Schiff, a well-recognized economist, an oz. of gold should about equal the DJIA. If the Dow is at 10,000 and gold is at 1,000, it's likely these two will meet somewhere closer to 5,000 than 1,000.

    Is it time to buy gold for the short-term? I don't know, that's technical analysis. It could drop $200 tomorrow or be up $200 tomorrow. Who really knows?

    If you buy gold now, will you be ahead in 5 years? Yes, I think so. Simply based on the US Debt load and impending inflation.

    The only thing that would kill gold prices is the election of a common sense economic libertarian in 2012, someone like Ron Paul, who will actually bring the dollar back.
     
  16. jhoagland

    jhoagland That's right! Lifetime Member

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    Buy brass and lead instead.
    Food too.
    SHTF and gold won't mean much.
     
  17. marlinfan

    marlinfan

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    Everything in moderation. The idea that the s can htf hard enough that we'll never return to a "normal" where gold is worth zero is the stuff of tinfoil addicts.
     
  18. Atlas

    Atlas transmogrifier

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    So much wisdom here...
    Almost all of it based on a time prior to the proposed U.S. gov't budget of $3.8 trillion or anything near that magnitude.


    Hm-m-m.
     
  19. RedTop

    RedTop

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    +1

    I also have to agree with Marlinfan... Everything should be in moderation unless you have the basic essentials covered.

    Where is CertifiedFunds when you need him? :cool:
     
  20. certifiedfunds

    certifiedfunds Cosmopolitan Bias

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