Gold

[CoachKandSportsguy]

For people wanting a bit of a banking / inflationary hedge in case the banking system gets overly stressed at the moment, GOLD at a 5-10% portfolio weighting is a good short term investment

DYODD

two months to go future former finance guy

[dewilson58]

"inflationary hedge"????

But since inflation has jumped (December 2020 thru today), gold is DOWN double digits.

:shrug:

[ThirdOfFive]

"inflationary hedge"????

But since inflation has jumped (December 2020 thru today), gold is DOWN double digits.

:shrug:
I love those TV commercials of people touting the investment value of gold. My thought has always been: if gold is that good, why are they trying to SELL it?

[retiredguy123]

FYI, I once called a gold coin dealer who advertises on television and asked the question, "if I buy $1,000 worth of gold coins, and then sold them back within a few days, with no change in market value, how much money would I receive? He said I would end up with $920, or 8 percent less. So, if you buy gold coins, the market value would need to increase by 8 percent in the first year just to break even. I don't know if there are more efficient ways to buy and sell gold.

[dewilson58]

fyi, i once called a gold coin dealer who advertises on television and asked the question, "if i buy $1,000 worth of gold coins, and then sold them back within a few days, with no change in market value, how much money would i receive? He said i would end up with $920, or 8 percent less. So, if you buy gold coins, the market value would need to increase by 8 percent in the first year just to break even. I don't know if there are more efficient ways to buy and sell gold.

ouch!!

[MrFlorida]

Gold is only good if you can find somebody to buy it when you need it. Otherwise its just fishing weight.

[Stu from NYC]

FYI, I once called a gold coin dealer who advertises on television and asked the question, "if I buy $1,000 worth of gold coins, and then sold them back within a few days, with no change in market value, how much money would I receive? He said I would end up with $920, or 8 percent less. So, if you buy gold coins, the market value would need to increase by 8 percent in the first year just to break even. I don't know if there are more efficient ways to buy and sell gold.

Or buy stock in a gold mine.

[charlieo1126@gmail.com]

I love those TV commercials of people touting the investment value of gold. My thought has always been: if gold is that good, why are they trying to SELL it? I wish Gordon Liddy was still around , his financial wisdom was priceless

[retiredguy123]

I wish Gordon Liddy was still around , his financial wisdom was priceless
My favorite is William Devane. I also liked him in Space Cowboys. Best movie ever.

[CoachKandSportsguy]

"inflationary hedge"????

But since inflation has jumped (December 2020 thru today), gold is DOWN double digits.

:shrug:

because that was not the time to buy. . gold is not a buy and hold and hope for a reserve currency meltdown . . its for situations when currency meltdowns have a higher probability.

GLD, or IAU are gold proxies you can buy without buying physical, but closely relate to the physical

[Velvet]

I thought about gold. In Europe during hyper inflation, I mean as a true story (probably where the story came from); my grandmother went to the chicken coup, pulled out 2 eggs and paid off her mortgage. So people invested in items, especially gold. My mother bought gold bars which she put in safety deposits box, 99.98 % pure. Too heavy, too much trouble for me. I thought, well gold is good, so why not wear it at the same time? Now I have beautiful, heavy 24k gold bangles, rings, necklaces etc. But it’s awfully soft for jewelry. You have to be careful not to dent it, but it’s fun! For weddings etc too much trouble for the pool or something. So there it is in the safety deposit box to be admired when I want to and ready for sale (by weight) when I want to. Uncle had gold krugerrands for similar reasons.

[retiredguy123]

When I lived and worked in Saudi Arabia, they had huge gold jewelry markets where they sold 18 karat gold. Unlike this country, you just picked out the jewelry you wanted, they put it on a scale, and you paid by the gram. It didn't matter whether you were buying a necklace, a ring, or a bracelet. It was all the same price.

[coralway]

PT Barnum was right

[Worldseries27]

my favorite is william devane. I also liked him in space cowboys. Best movie ever.
robert duvall is 92.

[Worldseries27]

pt barnum was right
W. S. All that glitters is not gold. Ps. Gold is created in the dying moments of a star.

[MidWestIA]

try jepi for dividend

[JRcorvette]

Gold is only a good investment if you can hold it a long time like 20 years. Most of us will not live another 20 years. Worst case scenario happens who are you going to trade gold with>? There are many other commodities that would be much easier to trade.

[BlueHeronFan]

The negative comments on gold is unformed. Do some research.
Then while inflation eats away your purchasing power you will soon discover that the lifespan of the US dollar is reaching it's end. Don't trust me. Go to the FED website and do some research.

[Captainpd]

Gold is only good if you can find somebody to buy it when you need it. Otherwise its just fishing weight.

If times are tough. You won't be able to buy my food with your gold.

[oneclickplus]

If times are tough. You won't be able to buy my food with your gold.

If times get that tough, expect some people to offer you bullets for your food. Make sure you have some of that to trade as well.

[oneclickplus]

Gold is only good if you can find somebody to buy it when you need it. Otherwise its just fishing weight.

The SAME can be said for the US dollar. We are way past the point of no return with the US debt. There is no way to recover and the dollar WILL become worthless in the relatively near future. Gold will always have value.

That being said, if things get really bad, you won't be able to buy food with even gold. So ... gold, food, water, guns, ammo are the future essentials.

[Worldseries27]

if times are tough. You won't be able to buy my food with your gold.
ain't that the truth

[retiredguy123]

robert duvall is 92.
Robert Duvall was not in Space Cowboys. Space Cowboys starred Clint Eastwood, Tommy Lee Jones, Donald Sutherland, James Garner, William Devane, and James Cromwell. Excellent movie.

[Tom M]

"inflationary hedge"????

But since inflation has jumped (December 2020 thru today), gold is DOWN double digits.

:shrug:

What? Where did you get your numbers? Looks to me that gold is up since Dec 2020 and up over 50% since Jan 2019.

[Velvet]

If times are tough. You won't be able to buy my food with your gold.

That is where you are wrong. When times are tough - very tough - currency is worth nothing, bonds are worth nothing, the stock market, well you get the picture. People go back to bartering and gold.

[BrianNotFromNYC]

But it in any investment account. GLD but do know, it is a commodity. So profits are taxed like cash instead of like stock

[ron32162]

Gold may have a spot price of $1,000 while its futures price may be $1,300. That's how its bought and sold. Do you go into a car lot pay exactly what the dealer paid for it? No, the only thing different is gold goes up in the long term. Right now in May 2023 its the highest gold has ever been .

[charlieo1126@gmail.com]

My favorite is William Devane. I also liked him in Space Cowboys. Best movie ever.I don’t know whether that’s sarcasm, but mine about Liddy certainly was lol

[retiredguy123]

I don’t know whether that’s sarcasm, but mine about Liddy certainly was lol
Not sarcasm. His gold ads are my favorite.

[rsmurano]

When times get tough? Are you talking about in 2000? How about 2007/2008? I didn’t have gold then and those 2 events were pretty bad.
If you look at gold for the last 10/11 years, gold is up 10% or a little more. If you bought meta/Tesla within the last 6 months, you are up 100% in meta and Tesla is up close to that.
I would not buy gold from anybody on those commercials, I would buy a fund of gold or silver.

[ThirdOfFive]

If times get that tough, expect some people to offer you bullets for your food. Make sure you have some of that to trade as well.
Agreed. Just make sure that those bullets being "offered" to you for your food are still attached to their cases and are NOT flying out of the end of a 9 mm barrel. Which if things get really tough is more than probable.

Right now I have the feeling that if the SHTF the only things that will be worth anything are the things in your possession that other people value. Post #21 pretty much nailed it.

[jimjamuser]

FYI, I once called a gold coin dealer who advertises on television and asked the question, "if I buy $1,000 worth of gold coins, and then sold them back within a few days, with no change in market value, how much money would I receive? He said I would end up with $920, or 8 percent less. So, if you buy gold coins, the market value would need to increase by 8 percent in the first year just to break even. I don't know if there are more efficient ways to buy and sell gold.
I would NEVER buy physical GOLD unless I thought an apocalypse was about to break out. But, in the interest of being fully DIVERSIFIED then 5% or so in gold or silver would make some sense. I would look into an ETF for gold or gold or silver mining. I believe that I used to own one with the call letters (GLD).
......A good time to own something like that as opposed to (SPY) would be if you are expecting a recession. Which is something I expect this year.

[Pairadocs]

"inflationary hedge"????

But since inflation has jumped (December 2020 thru today), gold is DOWN double digits.

:shrug:

Yep ! And, if you are a long term investor, W.B. type, but with no special skills or expertise, you can go back 40 years and compare what a simple index 500 mutual fund would have produced compared to what the same investment in precious metals would have produced ! The post did refer to a "hedge", and we all have our ideas about the best "hedge", but it's very difficult to make a case for the precious metal investment companies with their paid entertainer "spokes people", especially the actor who warns "us" about "all that PAPER MONEY floating around".....lol, lol !

[Pairadocs]

PT Barnum was right

definitely !

[Velvet]

During hyper inflation in my native country, gold took on the role of currency. Physical gold speaks an international language as well. Remember when the value of the dollar was backed up in gold.

[CoachKandSportsguy]

Until there was bitcoin, gold was the thieve's / smuggler's laundering currency, with the same identity less ability to be turned into any currency . . gold is a useful hedge when there is a currency crises. .

currencies are a relationship, one against another. . . that's why most currencies are range bound, until a collapse in that one currency against the others. So if that currency is your home currency, gold is the homeland hedge.

[CoachKandSportsguy]

During hyper inflation in my native country, gold took on the role of currency. Physical gold speaks an international language as well. Remember when the value of the dollar was backed up in gold.

When a young newbie at lunch yesterday was asked "Do you know who Paul Newman was?" He said, yeah, the salad dressing guy. . we asked, "Anywhere else?" he said "No, why?"
:popcorn: :1rotfl:

How many were alive for Bretton Woods and the abandonment of the gold standard?

beuhler , beuhler. .

[Bwanajim]

I bought 40 or 50 ounces of gold at $300 an ounce decades ago. I sat on it for 10 years and sold when I got divorced for about what I paid for it. Of course two years later it was up to $1500 an ounce.🙄

[Tom M]

When times get tough? Are you talking about in 2000? How about 2007/2008? I didn’t have gold then and those 2 events were pretty bad.
If you look at gold for the last 10/11 years, gold is up 10% or a little more. If you bought meta/Tesla within the last 6 months, you are up 100% in meta and Tesla is up close to that.
I would not buy gold from anybody on those commercials, I would buy a fund of gold or silver.

It's not too hard to look up gold prices before you guess at a number. Try Google or Goldprice.org

It's up about 44% in the past 10 years, not 10%. That's a little more than inflation over that timeframe.

Missed by quite a bit on Tesla too...

[Fastskiguy]

Physical gold is kinda more of a doomsday investment, isn't it? I mean....currencies have gone down the tubes in the past but societies keep on going, don't they?

Joe

[Velvet]

Physical gold is kinda more of a doomsday investment, isn't it? I mean....currencies have gone down the tubes in the past but societies keep on going, don't they?

Joe

Yes, but once you’ve been there, you never forget. Sort of like the tornado that hit Mallory, probably will never again but I got nice Husky card size table that’ll hold a collapsed roof up (in an interior room) should it come to that. In the mean time the table is just perfect with a nice table cloth for games.

[Worldseries27]

Idk why posters do not read carefully before they answer another op.

[Sharon5]

Invest in gold ETF. I like Clark Howard’s common sense advice. Clark Howard's Advice on Buying Gold (https://clark.com/personal-finance-credit/investing-retirement/buying-gold/)

[Worldseries27]

physical gold is kinda more of a doomsday investment, isn't it? I mean....currencies have gone down the tubes in the past but societies keep on going, don't they?

Joe
you can have gold on your person but you better be armed to keep it when you try negotiating with it

[CoachKandSportsguy]

Idk why posters do not read carefully before they answer another op.

dude, do you now know where you are posting and who the audience is?

This is facebook / meta without the face and without the meta for retirees who have lots of free time during their day, who don't give a crap most of the time, most who are losing part of the hearing, their sight, their comprehension, their logic and their senses. .

who live in the middle of a huge swath of cow pastures, in the middle of central rural FLORIDUH

[retiredguy123]

When a young newbie at lunch yesterday was asked "Do you know who Paul Newman was?" He said, yeah, the salad dressing guy. . we asked, "Anywhere else?" he said "No, why?"
:popcorn: :1rotfl:

How many were alive for Bretton Woods and the abandonment of the gold standard?

beuhler , beuhler. .
LOL. I would have said the pizza guy.