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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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 Posted: Fri Oct 01, 2010 6:51 am Post subject: Gold: Should I Sell? |
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A few years ago I inherited a troy ounce of gold from my grandfather, and since then, I've been watching the value go up. Even though I didn't pay for it, I'd like to maximise the investment. Now, I know everyone here is going to tell me to keep it for very logical reasons, so my question is: what will be the signs indicating gold to decrease in value?
It's possible for gold to increase in value forever, but presumably there will be an event or events in the future that will cause the value to go down. Even if it won't happen in the near future, I'd like to know: what should I look out for? |
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caniff
Joined: 03 Feb 2004
Location: All over the map
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| Posted: Fri Oct 01, 2010 7:06 am Post subject: Re: Gold: Should I Sell? |
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| cdninkorea wrote: |
| Even if it won't happen in the near future, I'd like to know: what should I look out for? |
A wave of governmental fiscal responsibility sweeping the planet, but I wouldn't hold my breath. |
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Capo
Joined: 09 Sep 2007
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| Posted: Fri Oct 01, 2010 5:31 pm Post subject: |
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when talk of double dip and and QE has gone away.
Set a target maybe $1500. Gold is volatile it could very quickly swing either directioin |
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Seoulmann
Joined: 27 Aug 2010
Location: Seoul
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| Posted: Fri Oct 01, 2010 5:41 pm Post subject: |
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Gold will always be gold. hold onto it.
when currencies dive, and economies crash. people turn to Gold. |
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El Exigente
Joined: 10 Sep 2010
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| Posted: Fri Oct 01, 2010 6:46 pm Post subject: |
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| Seoulmann wrote: |
Gold will always be gold. hold onto it.
when currencies dive, and economies crash. people turn to Gold. |
There's your answer: when the economy starts booming again, sell. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Fri Oct 01, 2010 6:48 pm Post subject: |
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| Seoulmann wrote: |
Gold will always be gold. hold onto it.
when currencies dive, and economies crash. people turn to Gold. |
and when economies boom and the stock market is on fire, people turn away from gold. |
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jaykimf
Joined: 24 Apr 2004
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| Posted: Fri Oct 01, 2010 6:53 pm Post subject: |
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| But anyway, hang onto it. Since you inherited it from your Grandfather, its sentimental value should be much greater that its investment value ever will be. Make it into a pendent or a ring. That's what gold is good for anyway.' |
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cdninkorea
Joined: 27 Jan 2006
Location: Seoul
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| Posted: Fri Oct 01, 2010 10:44 pm Post subject: |
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| jaykimf wrote: |
| But anyway, hang onto it. Since you inherited it from your Grandfather, its sentimental value should be much greater that its investment value ever will be. Make it into a pendent or a ring. That's what gold is good for anyway.' |
My grandfather was an investing tycoon, and bought quite a bit of gold when it was really cheap, many years ago (one ounce was given to each grandchild), but since he didn't attach any sentimental value to it, I feel the best way to honour him would be to treat it the same way he did: as an investment. You're right that it'd make very nice jewelry, but I don't want to think of it that way. |
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beck's
Joined: 02 Aug 2006
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| Posted: Sat Oct 02, 2010 3:48 am Post subject: |
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| Many people involved with gold do not consider it as an investment. To them, Gold is not an investment. It is value. It is insurance against economic collapse. If the economy collapses and the politicians start printing fiat like Mugabe in Zimbawe and the paper becomes worthless, then you can use your gold to buy goods and services. |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Sat Oct 02, 2010 4:22 am Post subject: |
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| beck's wrote: |
| Many people involved with gold do not consider it as an investment. To them, Gold is not an investment. It is value. It is insurance against economic collapse. If the economy collapses and the politicians start printing fiat like Mugabe in Zimbawe and the paper becomes worthless, then you can use your gold to buy goods and services. |
yup. You see, if the OP's grandfather had left him money, by now it wouldn't be able to buy you much. But because he left you gold, you can actually use that to buy some stuff. Gold stores your money's value. The OP's grandfather could of stored money in his safe, but that wouldn't protect it against Greenspan's and Bernancke's printing press. |
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mises
Joined: 05 Nov 2007
Location: retired
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| Posted: Sat Oct 02, 2010 7:31 am Post subject: |
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| jaykimf wrote: |
| Seoulmann wrote: |
Gold will always be gold. hold onto it.
when currencies dive, and economies crash. people turn to Gold. |
and when economies boom and the stock market is on fire, people turn away from gold. |
Haha. Yeah, the stock market. 10,000 dow since 1998 (and this required a change in the composition).
The price of gold dropped when PV raised interest rates to the teens. That won't happen again. Far too much debt in the society. Gold will appreciate and depreciate in the short term but in the medium and long run it will appreciate until the price is fixed when we return to some form of a gold standard. |
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Cici88
Joined: 18 Sep 2010
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| Posted: Sun Oct 03, 2010 12:09 am Post subject: |
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| It's obvious most of the posters here have no idea what they're talking about. Gold is going to 5000 - 10000 within 5 - 10 years... |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Sun Oct 03, 2010 12:17 am Post subject: |
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| Cici88 wrote: |
| It's obvious most of the posters here have no idea what they're talking about. Gold is going to 5000 - 10000 within 5 - 10 years... |
check this out,
http://www.youtube.com/watch?v=Gk5aRIz17fk |
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Fox
Joined: 04 Mar 2009
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| Posted: Sun Oct 03, 2010 12:49 am Post subject: |
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| recessiontime wrote: |
| Cici88 wrote: |
| It's obvious most of the posters here have no idea what they're talking about. Gold is going to 5000 - 10000 within 5 - 10 years... |
check this out,
http://www.youtube.com/watch?v=Gk5aRIz17fk |
Most people probably just think he's trying to scam them; people generally do not try to sell things at a loss, especially to strangers on the street. At one point he says something like, "They're scared of gold." A more reasonable hypothesis would be, "They're annoyed by me and don't trust me." His near desperation to sell it makes him seem especially untrustworthy. |
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recessiontime
Joined: 21 Jun 2010
Location: Got avatar privileges nyahahaha
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| Posted: Sun Oct 03, 2010 1:33 am Post subject: |
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| Fox wrote: |
| recessiontime wrote: |
| Cici88 wrote: |
| It's obvious most of the posters here have no idea what they're talking about. Gold is going to 5000 - 10000 within 5 - 10 years... |
check this out,
http://www.youtube.com/watch?v=Gk5aRIz17fk |
Most people probably just think he's trying to scam them; people generally do not try to sell things at a loss, especially to strangers on the street. At one point he says something like, "They're scared of gold." A more reasonable hypothesis would be, "They're annoyed by me and don't trust me." His near desperation to sell it makes him seem especially untrustworthy. |
While that is true, it's also pretty clear that the people in the video had no idea what 1oz of gold was worth. Sure, he is smirking and acting goofy and people are suspicious of his body language but it's also true they have no idea what 1oz of gold is worth.
I think even if he didn't try selling something you'd have people still taking the money. If he posed a hypothetical to people:
"Would you rather have $50 or a 1oz bullion gold coin like the one in my hand?"
I can see people choosing the $50 paper money over the gold. |
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