I'm going to Alaska this summer and one of the side trip "gimmicks" includes panning for gold. Sure would be nice to find a big hunk, ha, ha. I think gold is over $1500 an ounce right now.
Lots and lots of 'goldies' are pumping up the stuff, saying it could hit $2000/ounce.
Did you notice that silver just took a big dump? Is gold next? 'NOOOOOO,' all of you goldies cry. This could NEVER happen to the price of gold. No chance. No siree.
Buy gold now, you just bought high. And it may not reach these levels again after it dives for ten years, twenty years, or maybe more.
As long as you can hold onto your gold for a few decades, you are really taking your chances.
Fredd, you could very well be right and it could crater next week, even though a lot of the stocks have already cratered. It's pretty oversold so we'll see what happens.
As far as the intrinsic value. What is the intrinsic value of that piece of paper in your wallet? or the stock of a company that might blow apart next Qtr.
In fact, there is quite a bit of demand from India even at these prices, and China is ramping up quite a bit on their demand for gold based on hedging their dollar 'investments' as well as cultural value from the population like India. The bank of Mexico recently bought 100 tons of the stuff to hedge against inflation and the Univ of Texas's endowment fund owns almost a Billion worth of the metal.
I don't think the move is done yet, but none of us know of course.
Like the jewelry part the best!!
ReplyDeletecarol-CS
Carol-CS, As do many others! haha
ReplyDeleteI'm going to Alaska this summer and one of the side trip "gimmicks" includes panning for gold. Sure would be nice to find a big hunk, ha, ha. I think gold is over $1500 an ounce right now.
ReplyDeleteJust FYI, Kid:
ReplyDeleteLots and lots of 'goldies' are pumping up the stuff, saying it could hit $2000/ounce.
Did you notice that silver just took a big dump? Is gold next? 'NOOOOOO,' all of you goldies cry. This could NEVER happen to the price of gold. No chance. No siree.
Buy gold now, you just bought high. And it may not reach these levels again after it dives for ten years, twenty years, or maybe more.
As long as you can hold onto your gold for a few decades, you are really taking your chances.
That is a very good article.
ReplyDeleteI don't feel so bad after all those days of drinking goldschlager in my youth. (Everything before age 40 is considered youth.)
TCL, Sounds like fun; have a good time. I'll keep a good thought on that nugget.
ReplyDelete1,494.00 at them moment :)
Fredd, you could very well be right and it could crater next week, even though a lot of the stocks have already cratered. It's pretty oversold so we'll see what happens.
ReplyDeleteAs far as the intrinsic value. What is the intrinsic value of that piece of paper in your wallet? or the stock of a company that might blow apart next Qtr.
In fact, there is quite a bit of demand from India even at these prices, and China is ramping up quite a bit on their demand for gold based on hedging their dollar 'investments' as well as cultural value from the population like India. The bank of Mexico recently bought 100 tons of the stuff to hedge against inflation and the Univ of Texas's endowment fund owns almost a Billion worth of the metal.
I don't think the move is done yet, but none of us know of course.
I thought the info was fun reading anyway.
Hey Admiral, I forgot all about that stuff.
ReplyDeleteYes, under 40 is youth.