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| 35035 |
Re: Gold value/De
my comment was not intended as anything ill toward you.
I like stea...
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micro |
6TH POPE |
29 Aug 2022
12:55 AM
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| 35029 |
Re: Gold value
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.
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 |
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