Precious Metals
Jud
$1257. Silver made it to a benchmark, can $1300 gold be far behind?
Bremick
"Jud" <numis...@aol.com> wrote in message
news:8482ea7e-7c2b-4a71...@j18g2000yqd.googlegroups.com...
> As of right now, noon EDT, silver is at $20 per oz, and gold is up to
> $1257. Silver made it to a benchmark, can $1300 gold be far behind?
Saw gold up to $1264 before settling back. "They" say that as the price of
gold increases, more smaller investors will switch their attention to the
cheaper silver. Makes sense I guess. Time will tell. Now if only Wall
Street could make up its mind.
Robert Hairgrove
The price of gold relative to the US-$ is presently being driven by
various uncertanties in that currency ... especially since the Euro is
at an all-time low (and the US-$ is more or less at parity against the
Swiss Franc right now, also pretty close to the low it recently hit
where the Swiss Franc was actually valued higher than 1 dollar).
Other factors, such as the disastrous off-shore drilling incident, will
of course have a positive effect on gold.
If the dollar drops much lower, Asian countries (and others) will
increase gold purchases which will drive gold up even higher.
This is a good time to buy, IMHO ... especially since many people are
selling right now.
YMMV
oly
> Bremick wrote:
> > "Jud" <numismat...@aol.com> wrote in message
The Euro is at an "all-time low" in terms of what??? Certainly not
against the USD. oly
Bremick
"Robert Hairgrove" <rhair...@bigfoot.com> wrote in message
news:7733f$4c87bebb$50daf2d9$11...@news.hispeed.ch...
Personally, I would be wary of buying now as gold flirts with new highs. If
many others are selling as you claim, wouldn't the price likely go down?
IMO, there's much more liklihood of a retreat now and then a yoyo period
rather than a continued climb. The last time I bought silver, after a year
of yoyo-ing the price was a tad less than when I bought it. For every
"expert" who can justify $1300+ gold by 2011, there's another who sees $1150
instead. That's the fun of the game for many people.
Robert Hairgrove
> The Euro is at an "all-time low" in terms of what??? Certainly not
> against the USD. oly
>
Against just about every other major currency except for the US dollar.
Peter
> "Robert Hairgrove" <rhairgr...@bigfoot.com> wrote in message
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> > Bremick wrote:
> >> "Jud" <numismat...@aol.com> wrote in message
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Well, I don't know what gold will do, but I keep asking myself about
China's interest in natural resources. If I had the chance to hold $2
Trillion in US treasury debt, would I be tempted to buy some gold,
instead? In particular, at $1250/oz, the US entire stock of gold (ca.
8000 metric tons) is worth about $300 Billion. That's only about 15%
of $2 Trillion ... why wouldn't they prefer a little (?!) more gold?
Frank Galikanokus
>
> As of right now, noon EDT, silver is at $20 per oz, and gold is up to
> $1257. Silver made it to a benchmark, can $1300 gold be far behind?
http://images2.layoutsparks.com/1/124130/bubbles-animated-transparent-glossy.gif
JAM
Bremick
"Robert Hairgrove" <rhair...@bigfoot.com> wrote in message
news:7733f$4c87bebb$50daf2d9$11...@news.hispeed.ch...
Ouch! Only two days later and gold has retreated by $30. Those darn
profit-taking sellers. Glad I didn't buy. Maybe *today* is a better time.
Or next week. Or last year.
oly
> "Robert Hairgrove" <rhairgr...@bigfoot.com> wrote in message
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> > Bremick wrote:
> >> "Jud" <numismat...@aol.com> wrote in message
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Divide $30 by $1250. If you are math capable, of course.
If you can't stand that kind of a small fluctuation, you shouldn't
collect numismatic coins where the markups and haircuts are much much
bigger.
oly
dlhii
Well the lasts Red book has the 'value' of a 1999 silver proof set
$100 lower than the 2010 edition. That's a lot bigger percentage than
gold.
BTW: Gold isn't getting more expensive rather it's the dollar is worth
less except in US housing.
Don
Bremick
"oly" <oly...@aol.com> wrote in message
news:4c70768c-6ad0-4c3d...@c13g2000vbr.googlegroups.com...
____________
At today's prices, my gold buying is strictly in a fantasy league. Fun to
watch everyone else. Gold may be a sound investment for a young person
saving for retirement, but not as great for someone already retired. My
comment involved why gold at a lofty $1,264 would be a particularly good
deal, especially if many people reportedly are selling. Otherwise, I can
stand much more than you might think, including the tone of your comments.
oly
> "oly" <oly2...@aol.com> wrote in message
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Thirty bucks is tiny.
Of course, one can buy 1/2 sovereigns or 1/10 oz AGE or 1/10 oz
Maples. But it may indeed be better to buy silver (and it may give
you more bang for your buck in the long-run).
I have frequently alluded to the babushkas and the retired generals'
widows in the former USSR. You can still take steps to have a gold
and silver hedge, no matter what point you are in one's life cycle.
There is no need to be a sitting duck or to have that mentality.
oly
Bremick
Thirty bucks is tiny.
_____________
Silver is indeed more in my range. There does appear to be more chance
for making money from $10K in silver than with the same amount in gold, but
probably that's just a psychological thing. I don't have enough time left
to wait for gold (or silver) to double in price. I was fortunate and lucky
enough to have selected several of the "right" stocks at the right price at
the right time in March 2009 that since have increased from 100% to 500% and
left me comfortable for a while. It also lets me watch gold today from the
sideline, although I can't stay away from silver.
______________
I have frequently alluded to the babushkas and the retired generals'
widows in the former USSR. You can still take steps to have a gold
and silver hedge, no matter what point you are in one's life cycle.
There is no need to be a sitting duck or to have that mentality.
______________
Agreed. Although I now find I get more real benefit from a handful of
fifties and hundreds than from a safe box with some gold $20's. As a
collector, it's too hard to part with those pretty $20's, so they'll
probably just sit there for my heirs to dispose of. I'm assuming the
apocalypse will wait until after I'm gone.
oly
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I think the important thing in the future is that people shouldn't get
hung-up over the nominal "number" of dollars that an item costs. The
numbers are most likely to get bigger and bigger with the passage of
time, and one shouldn't freak out as the process unfolds. Nor should
one be decieved about one's income. If it doesn't go up steadily,
realize that it is going down. I mean this all in a general way,
without a personal reference to you, Mr. Remick.
I was in a small town (Central IL) IGA grocery today, and their
"gourmet" flavored coffee (Dunkin' Donuts brand) was like $8.88 for a
10 ounce bag. This seems like highway robbery, until you look at what
has happened to the price of coffee in the last three months.
oly
Bremick
________________
I do understand what you're saying. In my retirement, as long as my
income goes up to at least match the increase in expenses, I feel happy.
The intangible in my case is that I make adjustments in my expenses when
necessary to ensure this happens. Maybe that's "cheating", but it has
worked for me.
________________
I was in a small town (Central IL) IGA grocery today, and their
"gourmet" flavored coffee (Dunkin' Donuts brand) was like $8.88 for a
10 ounce bag. This seems like highway robbery, until you look at what
has happened to the price of coffee in the last three months.
_______________
What a rip! On the other hand, from my own experience, the price of the
average new car seems to have generally remained at about the same
percentage of the average annual wage for at least the last 50 years. As
prices rise, so have wages, but then I believe we've discussed my backward
view on this before. I DO love donuts, though, and I just can't pass up a
dozen mixed big ones at Shoppers Warehouse for $4.98. As for my morning
coffee, I long ago found that I could be happy with a spoon of instant with
some hot tap water, but luckily I'm able to boil the water now. Gourmet is
a subjective term and one of the hypes I try to avoid.