Investing in Gold
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  1. #1
    Rookie CardinalAndGold's Avatar
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    Investing in Gold

    How many of you invest in gold? I'm thinking about buying some but think it might go down in the future. If it drops to $1000-1050, I'll probably buy. But the current price of $1127/oz. is a bit overinflated right now, I think.

    Gold does seem like a fairly safe investment in the long-(long)-term.

    What say you?



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    Re: Investing in Gold

    I may or may not know a person who bought three ounces in gold coins when it was around $950 an ounce. This person may or may not wear a tin foil hat. I think that person may think that gold is a good hedge against inflation, but is only likely to appreciate considerably given a really bad economic situation.



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    Re: Investing in Gold

    I hate to invest in anything that everybody says to invest in. I figure that by the time they are running commercials for it, it's probably overvalued. But what do I know.



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    Re: Investing in Gold

    I'm going to say find something else. High gold price = safeguarding during bad economic times.

    Since buying my wife's ring 4 years ago the price of gold has gone from $700/oz to now ~$1100/oz and the economy tanked between these two figures. Once the economy gets stronger the value of gold will go down as people sell and start investing in the stock market/commodies/etc.



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    Rookie CardinalAndGold's Avatar
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    Re: Investing in Gold

    Quote Originally Posted by isuaggie View Post
    Once the economy gets stronger the value of gold will go down as people sell and start investing in the stock market/commodies/etc.
    That makes sense - I've never thought about it that way before.



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    Re: Investing in Gold

    Quote Originally Posted by CardinalAndGold View Post
    That makes sense - I've never thought about it that way before.


    if u watch the stock markets they even give huge warnings that once the economy booms, gold will drop a considerable amount



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    Re: Investing in Gold

    I'm thinking of getting some too. With the amount of debt the US has and with other countries buying it by the ton, it might be worth having. If the economy starts doing better, I've still got a majority invested in other areas.


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    Re: Investing in Gold

    Quote Originally Posted by dmclone View Post
    I hate to invest in anything that everybody says to invest in. I figure that by the time they are running commercials for it, it's probably overvalued. But what do I know.

    Generally a good principal. It's impossible to ever know with 100% certainty when you are approaching the top of any market (see real estate 3 years ago, the NASDAQ in 2000, etc) I think gold could just as easily go higher or lower from here in the near term. Holding gold is essentially an insurance policy against economic catastrophe. Do your homework, and decide if it is right for you. For more information, check out kitco.com.



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    Re: Investing in Gold

    Quote Originally Posted by isunomad View Post
    Generally a good principal. It's impossible to ever know with 100% certainty when you are approaching the top of any market (see real estate 3 years ago, the NASDAQ in 2000, etc) I think gold could just as easily go higher or lower from here in the near term. Holding gold is essentially an insurance policy against economic catastrophe. Do your homework, and decide if it is right for you. For more information, check out kitco.com.




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    Re: Investing in Gold

    Quote Originally Posted by isuaggie View Post
    the value of gold will go down as people sell and start investing in the stock market/commodies/etc.

    Yes, generally the commodities and stock markets have an inverse relationship (stocks up, commodities down; stocks down, commodities up). Jim Rogers' "Hot Commodities" contains all kinds of charts and data on this phenomenon.



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    Re: Investing in Gold

    I certainly wouldn't go and put your life's savings into gold. I see it as a safe emergency fund if the **** hits the fan as far as inflation, or in the event of an economic disaster (or combination of both).



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    Re: Investing in Gold

    Why not take a cue from your moniker and invest in Cardinal and Gold?!


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    Re: Investing in Gold

    the thing with gold is, it is currency anywhere, anytime, so to speak. Its much better than keeping too much cash in your safe. Gold kept us afloat when I was laid off. You don't pay taxes on it, and its a good thing to pick up here and there when you have a little extra money. Even if it devalues, consider it a long term investment for bumps in the road. If your in a situation and you need money now, you don't have to pay taxes on it for using it early either. It can be an asset on paper, or not . As they say, diversity is the key.



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    Re: Investing in Gold

    Dave Ramsey says no.



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    Re: Investing in Gold

    Quote Originally Posted by isunomad View Post
    Yes, generally the commodities and stock markets have an inverse relationship (stocks up, commodities down; stocks down, commodities up).
    Ah yes, the "Gz up, hoes down" phenomenon discovered by Dr. Dre and widely disseminated by his research assistant Snoop Dogg.


    TRUE AND VALIANT

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