This trade seems to tough. Like most trades. You would think with paper being worthless gold would be the spot. But with paper being worthless and people don't have jobs, who the hell is going to pay up for gold. Many times I thought about buying gold for safety. So I get in - now what - gold could go to 300 or 1500 who knows what the real value of gold will be without knowing the future economic picture. We it be run away inflation like a banana republic or will it be soup lines. The oil market seems to be saying soup lines.
Gold has been, and still is, the biggest Ponzi scheme out there...makes poor Bernie look like a piker.... It has no real value other than what a jeweler will pay...it is not, repeat not, a SAFE store of value.....very few people will actually buy the stuff from you when you want to sell.... You paid $800/oz in 1980? and now someone will bid $600/oz...that is a 25% loss after 30 years!!!! Gold is more akin to a work of art.....sounds good to pay $100,000 for a painting, but try to sell it when you need to...lots of luck SteveD
Do a little research on gold. Gold has been and always will be money. It is NOT a commodity for jewerly. Just because there was a 20 year disinflationary period and gold performed poorly doesn't mean gold has changed. Gold will always be a store of value. Nations store gold and it ain't for jewelry.
Timeframe is everything. Instead of your 25% cumulative loss, if you bought in 1971 (at $35) and still hold today ($800), you would have an 8.8% compound annual return. Every market (stocks, bonds, etc) goes to sleep for secular, 20+ year bear markets, then wakes up to go higher than people can imagine in the secular bull wave. Gold will be around and valuable when we're all dead; the dollar might not be. Austin
muhamed(spell check) stored grain around ,way before christ, mesopotamia i think,and a whole civilization migrated north for food and water and adopted a religion,food is very valuable,all the gold in that drought ridden civilization couldnt buy an ounce of water or grain,gold is worthless,it is akin to any other false belief,when the shit hits the fan ,it won't hold water,great to trade,just dont for a second beleive it has any real value
Gold is worthless huh. Why have Nations risked heavy seas just to transport their gold? Yes, we all know that you can't eat or drink gold.
anyone? it may only take 3 of us but with some explosives and a taser gun we may be able to randomly aquire alot of gold and alot of rich people putting it under their mattresses maybe randomly misplace their gold.....