gold?????????

[Gwhiz]

inquiry from a novice investor:
What is the outlook for the gold market at this point?
seems to a novice such as me to look good given how cheap it is.
Hoping to glean some pearls of wisdom from the graybeards.
Comments?

[Rob]

inquiry from a novice investor:
What is the outlook for the gold market at this point?
seems to a novice such as me to look good given how cheap it is.
Hoping to glean some pearls of wisdom from the graybeards.
Comments?Gwhiz. Sorry I can't give you any advice on investing in gold other than to say that as the dollar weakens, typically gold strengthens. So if you think the dollar is going to get weaker in the future, gold would be, in most cases, a good shelter.

I was going to ask you if you were the same “Gwhiz” who used to moderate a music trivia contest that I participated in on a computer bulletin board system (before the Internet days) 15 years ago. But your profile says that you're only 15 years old, so I guess it wasn't you. :)

[billyjoe]

Gwhiz,
Why do you think gold is cheap? For many years it was $35 an ounce. Now that's what I call cheap. Many years ago it went to $800 an ounce and people bought it thinking $800 was cheap. Maybe in the future you can look back and say " wow, gold was cheap then" or "geez, gold sure was high in 2006".

----------billyjoe

[IIC]

I don't like gold, but my personal opinion aside, if you want to trade gold I suggest a gold ETF like GLD.

You could try your hand at mining stocks I guess.

Here is the IIC Gold Index:

ABX AEM AGT AU AUY AZK BAA BGO BVN CAU CBJ CDE CGR CLG DEZ DROOY EGI EGO GBN GFI GG GLE GLG GOLD GRS GRZ GSS HMY IAG KBX KGC KRY LIHRY MDG MFN MNG MRB NEM NG NGD NSU NXG OZN PDG QEE RBY RGLD RIC RNO SA TRE VGZ

[peanuts]

inquiry from a novice investor:
What is the outlook for the gold market at this point?
seems to a novice such as me to look good given how cheap it is.
Hoping to glean some pearls of wisdom from the graybeards.
Comments?

Gwhiz,

I wanted to invest in gold, also. I've done it in a different way, however. I have purchased several of these:
http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/BA6_large.jpg (http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=13730&langId=-1&parent_category_rn=14239)
It's an unconventional way to invest in gold, but I think it is also less risky. The collectors value puts a premium on the actual gold contained within, so even if the price of gold declines, the value of these should not decline to the same degree. It's hard, sometimes, to invest this way- you don't really get a good feel for the market price of this investment, and the liquidity of it is fairly low and unregulated.

ps. you can click on the coin (it's also a link)

[billyjoe]

Gwhiz,

I wanted to invest in gold, also. I've done it in a different way, however. I have purchased several of these:
http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/BA6_large.jpg (http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=13730&langId=-1&parent_category_rn=14239)
It's an unconventional way to invest in gold, but I think it is also less risky. The collectors value puts a premium on the actual gold contained within, so even if the price of gold declines, the value of these should not decline to the same degree. It's hard, sometimes, to invest this way- you don't really get a good feel for the market price of this investment, and the liquidity of it is fairly low and unregulated.

ps. you can click on the coin (it's also a link)


Peanuts,
I'm so old I remember when the Buffalo Nickels were still given in change . When they started disappearing I started saving them and got about 300 before they went bye bye.

-------------billyjoe

[Websman]

Gwhiz,

I wanted to invest in gold, also. I've done it in a different way, however. I have purchased several of these:
http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/BA6_large.jpg (http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catalogId=10001&storeId=10001&productId=13730&langId=-1&parent_category_rn=14239)
It's an unconventional way to invest in gold, but I think it is also less risky. The collectors value puts a premium on the actual gold contained within, so even if the price of gold declines, the value of these should not decline to the same degree. It's hard, sometimes, to invest this way- you don't really get a good feel for the market price of this investment, and the liquidity of it is fairly low and unregulated.

ps. you can click on the coin (it's also a link)

Very cool.... Those coins are quite pricey, but are still cool. I wouldn't mind buying a few if gold prices take a dip.

[peanuts]

Peanuts,
I'm so old I remember when the Buffalo Nickels were still given in change . When they started disappearing I started saving them and got about 300 before they went bye bye.

-------------billyjoe

Wow! Did you ever get the collection appraised? I think you would be surprised at the value. They make excellent gifts.... :) ;) :D

[billyjoe]

Wow! Did you ever get the collection appraised? I think you would be surprised at the value. They make excellent gifts.... :) ;) :D


I know about what they're worth. Not the rarest , but my favorite, is an almost perfect 1919 that showed up in my grandparents change box when they came back from spending the winter in either Arizona or Florida. It was their bingo money.

------------billyjoe

[Rob]

I'm so old I remember when the Buffalo Nickels were still given in change .Yeah I remember those still being in circulation too, and Mercury head dimes. I saved a number of both, but nowhere near 300. I also remember the silver certificate bills. I started saving some of those when I was a kid, but one day I wanted to do something or buy something so badly that they, being the only money I had, got spent. :(

[JohnHenry]

Hoping to glean some pearls of wisdom from the graybeards.


Nice...Where did you learn this? LOL...I like it.

[mimo_100]

Everbank sells gold certificates. I never bought them, nor am I recommending them. Here is the link if you want to do some DD.

http://www.everbank.com/main.asp?affid=eb

[sowersnc]

Gold does seem to move opposite the dollar. I think the dollar will weaken when the fed begins to cut rates again.

One other thing gold investors need to fear is elected officials who want to balance the budget and reduce the deficit. But I don't think we need to worry about this with either of our parties.

I own some (GLD) and believe it will go up in a time frame of a few years, but I have been wrong many times before so do your own DD.

[Gwhiz]

thanks for all the input

[Gwhiz]

I've done some research over the past few days, and I really think gold is lloking attractive right now.
because:
1) When the fed starts lowering rates the dollar will weaken.
2) Gold is near long term support
3) None of the factors that kicked off the current bull market have changed a bit.
4) Commodoties bubbles usually last for a decade or more.
5) The US continues to run huge budget deficits.
7) Oil is currently so low, probably dragging gold down, and that will probably rise in the future as well, also relative global calm in terms of international affairs.

Being the novice investor that I am, It's very possibly that I have completely misread the situation. If I have let me know.

Afterthought: Opinions on Uranium? Crazy bull market if you don't already know.

P.S.:cramersmiley: :cramersmiley: :cramersmiley: