gold over $1,000 again

[BSH]

linky

Notice the soft-pedaling in the article. Nothing to worry about, no problems to report, it's all business as usual, move along peasants.

Given that the government has been monetizing the debt and debauching the currency... and given that when adjusted for inflation the current price is half of its all-time high... gold is still a very good investment. If only I had money to invest.

[kht428]

Amazing how they completely missed the fact that the UN officially called for a new currency standard yesterday other than the dollar. I'm sure that had nothing to do with the increase in gold prices though.

[FormerUser123]

Amazing how they completely missed the fact that the UN officially called for a new currency standard yesterday other than the dollar. I'm sure that had nothing to do with the increase in gold prices though.

Gold's been on the up and up since 07, it had little to do with the UN.

[Mr_Tom]

It can buy so many dollars now, they are going cheap like they are going out of style.

[H.E. Pennypacker]

... gold is still a very good investment. If only I had money to invest.

Gold really isn't an investment...it's more of a hedge against a weak currency and inflation. Dollar goes down (or inflation expectations go up) and gold goes up.

Gold is a relatively finite thing, and unless half the gold supply gets nuked, you really won't see supply-side pricing dynamics. Of course, once gold gets this high, jewelery becomes expensive and demand will peter off, thus bringing prices back to Earth somewhat.

In real (inflation-adjusted) terms, you probably won't make much - if any - money off of gold over a long period of time. Your dollars get weaker, but your gold is worth more of those weaker dollars...you probably break even. So it's more about preserving wealth than amassing it...and just a few months ago, people were more interested in wealth preservation than wealth proliferation. That's why gold (and government debt) was, and still is, attractive (nevermind deflation).

If you want actual gains, you go somewhere else - stocks, for example.

[Elmar]

I've made good money on gold. I've made great money on silver.

If I had the resources I would have made a killing on palladium (which still has a roof it has not yet hit).

[edstephan]

I prefer loan sharking, Oh thats right, that is what the mortgage companies do. Look at the rate of return of a 30yr fixed mortgage. You actually pay 4x to 6x the amount borrowed. Your $100,000.00 house cost you $400,000.00 to $600,000.00. Then you sell it for $120,000.00 and you pay capital gains tax on $20,000.00 What a deal.



An OC Activist and 1 of the 3%
Ed Stephan

[kht428]

I prefer loan sharking, Oh thats right, that is what the mortgage companies do. Look at the rate of return of a 30yr fixed mortgage. You actually pay 4x to 6x the amount borrowed. Your $100,000.00 house cost you $400,000.00 to $600,000.00. Then you sell it for $120,000.00 and you pay capital gains tax on $20,000.00 What a deal.

An OC Activist and 1 of the 3%
Ed Stephan

Your negative vibes are bringing me down man

[edstephan]

Your negative vibes are bringing me down man

just trying to help LMAO




An OC Activist and 1 of the 3%
Ed Stephan

[mojo]

Gold's been on the up and up since 07, it had little to do with the UN.

Gold has actually been going up since it bottomed around late 2000

Gold really isn't an investment...it's more of a hedge against a weak currency and inflation. Dollar goes down (or inflation expectations go up) and gold goes up.

Gold is a relatively finite thing, and unless half the gold supply gets nuked, you really won't see supply-side pricing dynamics. Of course, once gold gets this high, jewelery becomes expensive and demand will peter off, thus bringing prices back to Earth somewhat.

In real (inflation-adjusted) terms, you probably won't make much - if any - money off of gold over a long period of time. Your dollars get weaker, but your gold is worth more of those weaker dollars...you probably break even. So it's more about preserving wealth than amassing it...and just a few months ago, people were more interested in wealth preservation than wealth proliferation. That's why gold (and government debt) was, and still is, attractive (nevermind deflation).

If you want actual gains, you go somewhere else - stocks, for example.

Correct. Historically gold is a storage of wealth and an inflation hedge. However, over the last few years, you could actually speculate on gold and make money even in real terms.