Root Admin Phil Lilley Posted August 17, 2007 Root Admin Share Posted August 17, 2007 Am seriously thinking about pulling some money out mutual funds and buying gold... not necessarily because of the bear market but just for stbility sake. I know gold is high right now but I don't think it's going to drop much if at all for quite some time. Anyone investing in gold lately? Link to comment Share on other sites More sharing options...
Thom Posted August 17, 2007 Share Posted August 17, 2007 Every time I get interested this is the kind of feed back I have gotten back from my broker and other sources in the market. "I would not buy gold as a means of investing due to temporary calamities," says Leonard Kaplan, president of Prospector Asset Management in Evanston, Ill. "Those tend to be a temporary rally, which soon quits. When we invaded Iraq in the early '90s, the gold market dropped almost $30 the minute the first bomb fell. "But right now, if all goes well in the world -- Iraq and North Korea go away, there are no sensationalistic terrorist events -- we'll still see gold's price rise in 2003," he adds. The key seems to be keeping up with the trends and gold market daily. I don't have the time to do that so I diversify heavily. Bonds go one way and stocks balance etc. It has gotten me 10 to 15 percent after broker's fees for the last 20 years even in the year of 9/11 when the gold market went real sour. Thom Harvengt Link to comment Share on other sites More sharing options...
Quillback Posted August 18, 2007 Share Posted August 18, 2007 I view owning gold as a form of insurance in case of run away inflation, or an economic disaster. But as far as a money making investment, I would stay with the stock market. If you think gold is due for a rise you can also play it by buying stock in gold mining companies, and I believe you can find mutual funds that are targeted towards the gold mining industry. Link to comment Share on other sites More sharing options...
Thom Posted September 7, 2007 Share Posted September 7, 2007 Phil: In regards to your previous post: Interest unexpected occurance in the failing gold market this AM. "Long-term investors are piling into gold, gold producers are buying back their hedges and the funds are going with the flow," said Julian Phillips, an analyst at GoldForecaster.com. "It looks like the see-saw has tipped in gold's favor." Against that backdrop, gold for December delivery rallied $8.40, or 1.2%, to $713 an ounce on the New York Mercantile Exchange. It climbed as high as $716.50, the contract's strongest intraday level since April 20. The contract closed at $681.90 a week ago, so it's trading more than $31 higher for the week. Notice they said long term investors. Who knows with the idiots in the middle east what will happen tomorrown or next week though. Remember that one of the largest losses in the twin tower disaster was stored gold bullion. Most of which was reported not recovered. Can we believe that????? Thom Harvengt Link to comment Share on other sites More sharing options...
troutchaser Posted September 7, 2007 Share Posted September 7, 2007 Thom, the COMEX gold is listed as not recovered, but that really should read "not recovered YET." It's buried under 107 stories worth of debris in a massive vault. It's still there. Besides, it's only about 2% of the daily traded volume of precious metals, so just a drop in the bucket for the market. Phil, I would be very cautious of jumping into precious metals for stability. I'd opt for a money market fund, first. It's more stable and it earns more while it sits there. The only way I'd personally invest in gold is to buy a couple of ingots and put it in a fire box under the bed, then sell it in 10 years when gold prices are way up. Paul Rone Link to comment Share on other sites More sharing options...
gonefishin Posted September 7, 2007 Share Posted September 7, 2007 Investing in gold, or any metals, has been used as a hedge for ages. It can be a good plan. The thing is I dont know that gold is that good of an investment for this purpose any more. I would be more inclined to invest in copper, aluminum or platinum group metals. Just my two cents worth. I would rather be fishin'. "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." Benjamin Franklin, 1759 Link to comment Share on other sites More sharing options...
Danoinark Posted September 8, 2007 Share Posted September 8, 2007 I have a buddy who grew up in Greece and remembers when during one depression a wheel barrow full of drachma wouldn't buy a loaf of bread. He says its better to invest in silver since it's more universal. Dano Glass Has Class "from the laid back lane in the Arkansas Ozarks" Link to comment Share on other sites More sharing options...
taxidermist Posted August 22, 2008 Share Posted August 22, 2008 I have sold some gold , reason not high prices, but the govrnement can take the bullion away at anytime. Yes they sure can!! Gold coins over 40 years old are considered collector items and dont fall under the law. Next is the fact that every August gold bullion prices drop. Gold good investment for long term 30 year or longer bad for short term under 30 years. Gold not readily traded, should the world fail then if you are walking down the street and someone takes your gold you loose a lot. silver you loose a lot less. US government tracks gold closly, not so with silver. Lastly stay away fro the crook in Branson dealing coins and gold, you can buy anything gold, silver or coins for a lot less in Little Rock or Kansas City. Link to comment Share on other sites More sharing options...
Guest kevinkirk Posted August 22, 2008 Share Posted August 22, 2008 My aunt made money in gold coins for sure. But can you eat gold if things really go to hell? I dont think it will be worth any more than anything else. Better to invest in fishing tackle so you can catch your supper...hahhah... Hard to know what to do these days for sure. I have pulled outof the stock market for now. Feel a bad wind blowing personally. Link to comment Share on other sites More sharing options...
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