sundance-communications.com Forums Member Forums Phone Booth Who's got gold fever

Well my savings were not doing anything so i bought gold last week at $1740 per ounce its at $1786 now apparently its gonna reach 2grand,anyone else trying it

All of our savings have been tied up in Georgia Tech and Johns Hopkins. Although I suspect the result will be golden.
Mike

The only reason gold becomes more 'valuable' is inflation. Personally, I'd rather put spare cash into edible commodities that have a lllooonnnggg shelf life.

Yep, Gold is very pretty, but it cannot be eaten, and it makes terrible ammunition. If one has lots and lots of money, then gold will preserve your wealth. A person of my means should instead make sure that they have long term food, a source of water and either a darned good water filtration system or distillation system. Then I would make sure that there is at least one long arm and one side arm for every adult in the family, and a thousand rounds of reserve ammo for each weapon. I also strongly suggest that everyone gets regular practice with said weapon.

Just my two yen worth.

Joe

I have been in and out of it several times. In 1972 I bought it at $35 per oz, and sold it at $835 in 1980. That's $800 per oz profit within 8 years, but I only had 30 oz. Shoulda bet the whole pile on gold, but didn't have the guts. It paid for my first house, though.

I got in, the most recent time, in 2009 when it was at 900 per oz. Today it's at 1760. I hope you're right about where it's going, because I've got one third of the 401K pot riding on it now.

There is a misconception about actually holding the metal in your house. You don't do it that way. You let somebody else keep it in their house. Each share of GLD stock equals one tenth of an ounce of the real thing.

GLD

TTY Joe, you romantic devil...

I live on a beautiful island, just two hours from Fun City. I have crystal clear well water, a generator, a year's worth of dehydrated food, a bunch of rifles and shotguns, and a few pistols. Only 1,000 rounds for the sidearms, total, so I'll need to make every shot count. Before I nearly cut off my left trigger finger when a chain saw attacked me, I shot expert with both hands.

"Glock...because when seconds count, the police are just minutes away."

Just remember, stocks are only guaranteed to go up, AND down. So buying in is only half the battle.

It's a lot like gambling, just without a limit on the pot.

Buy low and sell high. When the economey turns around gold goes down in value. Be careful.

Now he tells me. I've been doing it the other way! ;-)

Sam

@ TTYJOE. :toast:


@ Arthur. :rofl:

"Buy low, sell high"
From my favorite movie, Trading Places!