Will you now buy gold?

Who is up for it?
1300 per Oz... can you see it going much higher?
this time last year I started a thread entitled "is now the right time to buy gold?" it was 950 so no need for comments on that. I was lucky enough to be able to take a sizable position on physical gold but since then I have lost my job and had to sell 15% of my holding. If I was liquid now, I would be buying on dips expecting 1.75K in the next 12 months.... How do you guys see the gold index going?
any comments?
PEACE.
RK

WARNING: THE BULLION BANKS ARE LOSING CONTROL OF SILVER & GOLD!!! www.youtube.com...

I guess if I had money to invest, gold or silver might work .

When I get a little extra cash, I plan to invest in some supplies to refine my own gold. I've got a lot of scrap and I know where I can get more. I bought most of my current stockpile when gold was in the $500 to $800 range and silver was about $8 to $11. I just don't have the spare cash to buy bullion right now.

For me, personally, physical silver is where I'm heading. I'm only at about 30lbs but that will grow. Sure the allure of gold is great and the price is skyrocketing but I think silver has more to gain. Rumors of silver shortages and a confirmed story this week regarding the US mint gives me reason to smile. Once QE2 is announced that should further devalue the US dollar and presumably inflate precious metals, at least that's my line of thinking. There is definite panic out there.

brill

reply to post by brill


I agree, I think there is much more potential on the upside for silver. If I remember correctly you could get it for about 8 dollars Oz a year ago. It has already outperformed Gold over the 12 month period.

PEACE,
RK

why buy gold on the market? In 2 years time you will be able to stop by any ATM and get gold instead of dollars.

If you want to cash in on the gold rush, you no longer need a passport to get in on the action. The maker of gold ATMs will debut its gold-dispensing machines in two U.S. locations next month.

Twenty ATMs have already popped up in hotels, airports and stores in tourist destinations like Abu Dhabi, Munich and Madrid. And 20 more are waiting in the wings.

Starting next month, Vegas gamblers and Florida beach bums will be the first to get their hands on the machines in the United States.

Gold to go won't reveal exact locations. But Thomas Geissler, CEO of Ex Oriente Lux AG, which owns Gold to go, told CNNMoney that the ATMs will open in "a well-known Las Vegas casino" and a Floridian resort city -- most likely Boca Raton.

The ATMs, which dispense gold coins and bars weighing up to eight ounces at prices updated every 10 minutes based on the real-time spot price of gold, churn out 20 to 100 gold pieces a day depending on traffic.

"When there's a feeling of a crisis, our gold ATMs will make ten times more money," Geissler said. And with gold on a record-breaking streak (prices are above $1,300 an ounce), now is the perfect time to expand the ATM's presence, he added.

money.cnn.com...

You guys should know that in 1933, the govt confiscated all gold and silver from citizens and made it illegal to have them. People who didn't give it up were threatened with 10000 dollar fines and many years in prison. If they did it once, they might do it again as we head into this new depression. I think tangibles are a much better investment in this economy.

The higher the price goes the less likely i am to buy gold.
the bubble will break. when it get down to about $600 a ounce i will start buying again.

Now that is not saying i will not increase my gold holding.

I have a gold master v-sat metal detector and live about 20 miles from a good nugget hunting area.
As soon as the tempatures here in the desert cools down i will be out nugget hunting.
instead of just the profit from a miner change in gold price.
My profit will be the price of the gold i find. if i find one ounce i will make going gold price

In a 5 year period when i was a mine superintendent in northern Calif i found over $100,000 in gold in the mine i was working with my metal detector.

My doctor said i need to get out and walk more.

Originally posted by ANNED

In a 5 year period when i was a mine superintendent in northern Calif i found over $100,000 in gold in the mine i was working with my metal detector.

My doctor said i need to get out and walk more.

You too bro? Last year, I found about 500 oz just laying around while hiking up near yosemite. I was using a bf950x metal detector, when it started going crazy. I also found an old stash full of gold, silver, and platinum rounds that were about 500 years old. It was even in the local news. Once I started living close to the Source and opened my chakras, my entire life changed for the better and good stuff just happened to me. Even now, I find money just laying around at places like restaurants and water fountains.

Originally posted by kadyr80
You guys should know that in 1933, the govt confiscated all gold and silver from citizens and made it illegal to have them. People who didn't give it up were threatened with 10000 dollar fines and many years in prison. If they did it once, they might do it again as we head into this new depression. I think tangibles are a much better investment in this economy.

here's some detail:

en.wikipedia.org...

www.the-privateer.com...

note that people were allowed to "keep" $100 (5 ounces in 1933).

the big deal then was that the u.s. govt was allowing "major transfers" of gold in the form of "loans" to

guess where?????

GERMAN factories!!! (and other european interests with heavy duty american investment)

www.thirdworldtraveler.com...

this was the main reason for 1933 gold confiscations and limits,
the american companies "got the gold back" as payment in an unstable world war II environment!

it was big business as usual ... much like today's central banks (jewish controlled) "handling" central banks in Islamic Nations! i.e. Iraq, Afghanistan, etc (and soon to be Iran - "the last bastion of hope" for Islam)

Originally posted by kadyr80
You guys should know that in 1933, the govt confiscated all gold and silver from citizens and made it illegal to have them. People who didn't give it up were threatened with 10000 dollar fines and many years in prison. If they did it once, they might do it again as we head into this new depression. I think tangibles are a much better investment in this economy.

I do not think your average citizen will be so honest when asked if they have physical gold this time around...
I mean who in their right mind is gonna give it up?

PEACE,
RK

I'm with brill on this one... silver coin, Either US or Canadian is what i'll be trying to hoard
even if i need to pay $25 per eagle or maple leaf........................ they are heading for $50+ by 2012

I just got under the wire on Monday, thats when a measly $50 check cleared and my gold fund
credited me with another 2.0601 shares.....
the less good news is that i still need to purchase another 27.4 shares to get to this years goal
of shares owned in my ROTH account...... i dont think i'll make my personal goal this december

but i will keep investing $50-$100 whenever i can this Oct/Nov/Dec


better buy canned/dry pantry good too... thats as good as hoarding metal coins

++++++++++++++++++++++++++


oh yeah ... the law your all speaking of is :

Executive Order 6102 - - - - Wikipedia, the free encyclopedia

Effect of ...Executive Order 6102 is an Executive Order signed on April 5, 1933 by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates" by...
en.wikipedia.org/wiki/Executive_Order_​6102 -

they, the USSTreasury along with the FED reserve. will not press Obama to renew the implementation of
EO-6102... because they along with most bullion banks need to play the bullion & physical metals markets
---mostly to cover up the 100-1 fraud on issuing PM receipts for orders that are 'paper only' ie sans Gold
the vaults have perhaps 10% of what they claim.... Now after they have worked the cash from everyone but the diehard gold-bugs... then they will pull the EO-6102 string
by either Obama or the next usefull idiot in the oval office

The object to investing is to buy low and sell high.

Therefore, anyone who is advising someone to buy Gold when it is high is either high themselves, or more likely has caught the wave to the Gold peak late and wants to over-inflate it a little more so as to unload what they bought at a meager profit, rather than break-even (or at a loss) after trade costs and taxes.

Anyone who buys Gold right now, especially if they can't afford to lose the majority of their investment, is either reckless or a fool.

That's at least my two pence worth. Feel free to take it as it is worth if you so choose.

Originally posted by Rigel Kent


I do not think your average citizen will be so honest when asked if they have physical gold this time around...
I mean who in their right mind is gonna give it up?

I heard that ObamaCare has a provision in it that tracks all sales of gold. They'll know you have it.

Odd that they would have a provision like that, don't you think?

Originally posted by JonInMichiganI heard that ObamaCare has a provision in it that tracks all sales of gold. They'll know you have it.

Odd that they would have a provision like that, don't you think?

Do you have a source for that statement?

Patient Protection and Affordable Care Act [Public Law 111–148] and Health Care and Education Reconciliation Act of 2010[Public Law 111-152
] have no such mention of anything of the sort.

The only mention of Gold in either of the two Bills ratified into Law as "ObamaCare" is mention to Levels of Health Care Coverage being Bronze, Silver, Gold, or Platinum. There exists no rider that tracks all sales of Gold (although there was a rider for Student Aid and Fiscal Responsibility that was included but no such clause is found there either).

Originally posted by fraterormus
The object to investing is to buy low and sell high.
[snip]
Anyone who buys Gold right now, especially if they can't afford to lose the majority of their investment, is either reckless or a fool.

Well that all depends on why you’re buying it. A person buying it for profit would be a fool to buy it now, but a person who is buying it as "insurance" is not.

The likelihood, one would hope, is that someday the economy will recover and the dollar will be worth more, thus gold will go down in value relative to US currency. So… not a good investment.

But the case for insurance is where the dollar completely becomes worthless and gold becomes the only viable currency is another story. In this situation you won't be selling your gold for 1000's of worthless US dollars so you can go to the store and buy a $100 loaf of bread. No, in this case you will be using the gold itself to trade and barter.

The flaw, I will admit, with this plan is that everyone will be taking care of their immediate needs like food and shelter in the beginning and no one will want your gold. As new bartering systems spring up from the grass roots like trading seeds, tools, blankets, gas, etc., eventually people look for a commodity in which they can use to trade as an intermediary and precious metals will emerge as a solid system of currency. It has before and all through history and will again.

So will gold save your butt in the case of a post-apocalyptic-money-meltdown or zombie attack…probably not. If you do survive it though, you’ll have a huge leg up on money to spend once things settle down.

In looking through history and what people have done with gold stashes in this situation, they usually use them to pay their fare to get the heck out of where they live. i.e. Jews with gold using it to flee Germany during WWII. Now that is good insurance!

As for those of you who are talking about having gold in paper form….uh…ok? I see no benefit to that at all!

Incidentally I have been thinking about buying some but I’m going to limit myself to like $3000 in small coins. Just enough so I can buy things I might need or to get out of Dodge, but I should also buy some bags of beans and some seeds while I’m at it. I think tools would be a good commodity to have too, like farming implements. I fully expect that we will recover someday and my investment will probably be worth less than half of what I pay for it. The loss I would incur would be viewed as the equivalent of paying $1500 for apocalypse insurance.

reply to post by fraterormus


Ok...thanks for clearing that up. I said I HEARD it, as to say I did not have a citation nor had I checked into it. Someone posted it on ATS but I never bothered to look it up.

Thanks for clearing it up.

Unless you're buying the cold hard metal in hand itself, it's just paper. No different than any other paper "investment" in my opinion. Even then if, as some here seem to want to happen, the "SHTF", what good would having gold do you unless you can find people willing to trade goods for it. If suddenly we found ourselves in Mad Max-land, would you rather I traded a bag of rice for that nice warm blanket you just made or would you rather have some shiny metal?

reply to post by fraterormus


well call me foolish.... i just bought more gold equities monday...just a hairsbreath before the $25 increase in gold
that translated into a increase in my funds NAV of .82 cents a share.


next, call be stoopid for expecting the FEDs QE2 to further decline the USD & resulting in gold going up against the depreciating dollar...as citizens and foreigners quit buying Treasuries that don't even break even with the devaluation rate.


next, im stone cold foolfish for think i can preserve amy meager money in appreciating gold (even at $1,350)
when the 'smart money' was ranting that $800 gold was due to fall to $600 real soon in 2008-09


i cwazy for even thinking that the gold vaults are near empty of bullion & when the SHTF on the paper ETFs of gold & PMs...that physical gold will explode to more than $2,000 in days...for many different reasons


glad your imparting you analysis here on ATS for me/us to benefit from

Originally posted by St Udio
reply to post by fraterormus

 

well call me foolish.... i just bought more gold equities monday..

i cwazy for even thinking that the gold vaults are near empty of bullion & when the SHTF on the paper ETFs of gold & PMs...that physical gold will explode to more than $2,000 in days...for many different reasons

glad your imparting you analysis here on ATS for me/us to benefit from

You bought equities, which as others stated is a paper INVESTMENT and not physical gold retained for purposes other than Investment. In a SHTF scenario, having a piece of paper or an electronic transaction showing you bought into an equity fund is just as meaningless as Monopoly Money.

As for buying physical Gold Bouillon for security or piece of mind during a SHTF scenario, you might be wiser to buy Ammo, TP, or Campbell's Soup, but that is a different situation from the one I commented on. Physical Gold Bouillon is a matter of personal preference, but one that can leave you out some hard earned cash for twenty or thirty years if you bought high instead of back between 1981 to 2007 when it was low.

The only universal law to the Market is that what goes up *WILL* come down. The market ebbs and flows, rises and falls. It abides by the Law of Cycles. As such, Gold will *NOT* stay at it's over-inflated state forever. It is only a matter of time before it falls. It is inevitable and cannot be denied. The only question is to "when". Therefore, as an investment it is a fool's game at it's current price. Sure, you might be able to make a couple of bucks after market costs and taxes are deducted when you cash out that investment at just the right time before it peaks and falls, but there are stronger markets with higher potential if risk is your game (and there are far more strong and stable markets without much risk, such as "Old World" Market Funds).

What you do with your money is your business and no one else's. However, the difference between the "Haves" and the "Have Nots" in our society is entirely based upon knowing when to hold 'em and when to fold 'em. Gold, IMHO, is at the point of fold 'em (and I certainly would have been saying the opposite to that advice before 2008).