Forum Home | Log in | Signup | My Page | Rules | FAQ | Boards | Members | Search
« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next

Re: Gold value

By: Decomposed in 6TH POPE | Recommend this post (0)
Sun, 28 Aug 22 5:13 PM | 24 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 35028 of 60008
(This msg. is a reply to 35023 by micro)
Jump:
Jump to board:
Jump to msg. #

micro:

Re: “From an investiing standpoint however, 3.5% is not much of a gain on an annual basis..”I can't let that go without pointing out some things...

First, gold isn't an investment. It's insurance against loss of wealth. One shouldn't expect to get rich off of insurance.

Second, the quote at the bottom of my posts happened to be made shortly after gold had reached a major TOP. If you'd instead used the price at which I first purchased gold, $300 about twenty years ago, you'd have a far better per annum increase. But that, too, would be unfair since gold had just reached a major BOTTOM. The reasonable thing to do is to look at a long-term gold chart and see what it does over time.

Third, there's nothing honest about the price of gold. If you disagree, try to purchase an ounce of gold for today's spot price of $1,735. I don't think you'll have much luck. (Orion gold has one ounce American Eagles for $1,933.50 today.) More importantly, just as we routinely see the Fed leap into the stock market to reverse large selloffs, it's also clear that large climbs in the gold price get nipped by ... someone. World governments are heavily invested in paper money and don't want people developing an interest in alternatives. One day, their control over gold's price will loosen and, I assure you, interesting things will occur.








Avatar

Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


 - - - - -
View Replies (2) »



» You can also:
- - - - -
The above is a reply to the following message:
Gold value
By: micro in 6TH POPE
Sun, 28 Aug 22 2:35 PM 		Msg. 35023 of 60008

Just as a small token of input, I decided to use De's reminders on his posts about the gold valuations and nmumber of years from the starting point..

If one divides the total increase in price by the 7.5 years, the answer is 3.53 percent per annum increase.

Now then, there are some good reason to have physical gold in your possession.

From an investiing standpoint however, 3.5% is not much of a gain on an annual basis..

So the only other reason to buy it is for whathappens when paper money becomes only good to start a fire in the fireplace...

Its a tough decision but remember just as precious metals can go up at various times, they also can come back down..

Just some food for thought.. Thumbs Up


« 6TH POPE Home | Email msg. | Reply to msg. | Post new | Board info. Previous | Home | Next