Gold breaks a $1000.00

[Tandem160]

How does that effect your purchases?

 

[Tandem160]

New to this blog thing..anyway, I am wondering how since gold went above a thousand dollars an ounce is it still the way to go? I've read alot of guys saying the dollar is will continue to go down the tube and that I should turn to gold but, I think now is not the time to buy because it is so high. What are your thoughts, buy now are wait for a sell-off?

 

[Chefcook]

I have been buying silver not gold. Mostly because of cost. If you spend $40 or $50 on gold you get what looks like nothing. I just bought a roll of silver quarters on Ebay for $100 that's approx. 5oz of 90% pure silver if dated before 1964. I also buy silver quarters, half's and dollars when I can find them at close to spot. Another reason I like to get the silver coins is if you were to find yourself in a barter type situation, your not going to be chipping pieces off of a silver or gold bar to use as currency. At current prices a silver dime is kinda like a dollar bill a quarter like a 3 dollar bill a half like a 7 dollar bill and a dollar like a 14 or 15 dollar bill. It just seems that it would be easier to deal with and less to second guess or have to quarrel about...

 

[Prometheus]

New to this blog thing..anyway, I am wondering how since gold went above a thousand dollars an ounce is it still the way to go? I've read alot of guys saying the dollar is will continue to go down the tube and that I should turn to gold but, I think now is not the time to buy because it is so high. What are your thoughts, buy now are wait for a sell-off?

Watch the glen beck post about the currency inflation and then talk to us about how "high it is".

I can say with certainty that DOW and NASDAQ stocks will go down much farther down and it will be decades before they even start to be anywhere near worth while... assuming you pick stocks that don't go bankrupt before then.

Gold and Silver... who knows. We've seen gold stagnate or slide when everything said it should rise. One reason is people taking a bath in the non metals markets having to sell gold and silver positions to cover other losses causing that temporary depression when gold had hit 1,000 last summer.

These are NOT simple answers. It you buy physical gold or silver, the price of it from day to day doesn't matter much. It's not like you are losing any physical ounces of metal. Should you need to cash it in at any specific time... well timing is everything.

If there wasn't other physical things I needed to buy now, I wouldn't let 1,000 gold scare me off. Not at all.

That said, do you have a couple years of food set aside? How about your ammo needs for the next few years? Land? "beans Bullets Bandaids". Do that before going with the metals.

Good luck.

 

[ruger7722]

sit outside pawn shops and offer 5 dollars more than they will give.works when work is slow,dont know how i know.works in bad weather,dont know about good weather.weather related profit without plowing

 

[blainepoe]

How does that effect your purchases?

That's easy....I've just started buying gold guns ....

~Poe

 

[blainepoe]

Is this thing on???



Hah...I've been wanting to use that icon for a long time....

~Poe

 

[Kingrat]

its been an usual couple of weeks for precious metals, they have decoupled from their inverse correlation to the dollar (dollar goes up metals go down, vice versa)

both gold and silver are overbought and due for at least a minor pullback, but it could keep on going too, gotta be careful unless you buy and hold physical and dont worry about it

that said i also think silver is the place to be, current ratio is 68:1 silver:gold, it was up to 84:1 last october i believe and 50ish:1 this time last year, with rumors of there being less actual available silver above ground than gold that would make it even more of a steal

 

[mospeada]

Its a gold bubble that will eventually collapse like all bubble leaving those who came late in ruins.F irst the tech bubble, the housing bubble, the oil bubble, now the gold bubble, what's next? I need to start my own bubble and be in on the ground floor. How about the milk bubble?

 

[4sarge]

I'm sticking with hard goods and barter-able commodities. So far this is my first and last precious metal commodity

 

[barber613]

Silver is where its at, it is up about 5.00 an ounce over the past two months. If buying rounds or bars, the cheapest place I found was northwest territorial mint. You get physical delivery in about 12 weeks. You have to wait, but like I said it is a lower over spot price.

 

[Glock21]

Its a gold bubble that will eventually collapse like all bubble leaving those who came late in ruins.F irst the tech bubble, the housing bubble, the oil bubble, now the gold bubble, what's next? I need to start my own bubble and be in on the ground floor. How about the milk bubble?

...or the DOLLAR bubble. Perhaps that one will pop first.

 

[Annie Oakley]

Years ago I bought some silver. Not sure that it or gold will be that good if everything goes down the drain. Still think that as someone said, bullets and beans, is where it's at. If I am wrong and need more silver I have a huge collection of southwestern jewelry---pop the stones, melt it down and watch me cry!

 

[rhino]

I don't want to sound like a smarta** here, because I'm being serious. I know the topic is about gold, but this kind of conversation reminds me of how serious our current situation is.

Given that, if you have money to buy gold or silver, you should be buying non-perishable food, fuel, and securing a clean water supply instead.

I would put the priority well ahead of guns and even ammo in fact, especially since most of us have more than enough of either.

And if things get better, you can always consume your stores (or part of them) at your leisure. If they get bad or worse, you can't eat gold or silver or ammo, and food may be worth more than any objects you care to acquire.

Sorry for the threadjack, but I think it needed to be said.

 

[Flaregun]

Gold is a bubble. I will not be a buyer at $1k. If you were really really wanting to maximize every dollar you could turn off your internet connection,cable TV,phone & cell phone and put that into other more "real" resources.

Just my .02