Why is there stuff about spas and pokemon on your lens?
I bought through Bullion Direct and APMEX.
Buying gold
- Thread starter Dan Grossman
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Why is there stuff about spas and pokemon on your lens?
I bought through Bullion Direct and APMEX.
I'll freely admit that I don't know dick about gold, but what little I do understand about investing says that buying high is not a sound strategy. Anyone care to set me straight on this?
@ dogfighter - Consider Precious metals as stores of value, not so much investments. Meaning that you will always be able to get your value back out of your metals even if the paper currency we trade now collapses or rampant inflation sets in. IE that chart listed above shows that you could pretty much get the same amount of gas for the same amount of gold regardless of time.
I remember reading somewhere than an Oz of silver will buy you enough food for a week if this shit really goes bad! I just picked up 520oz of silver for around $15.65 each delivered which was better than my last order which was closer to $18 so you can certainly buy in at better times than others, problem will be if indeed supply runs out or the price makes a ridiculous run up and just doesn't come back down then it's too late.
I think that even if there is a 10% chance of runaway inflation, or stagflation, that storing a percentage of my current paper moneys value into metals is probably not a bad move. I'd recommending buying smaller amounts over time than just one big time lump sum purchases, and IMO silver is the best to get into to start because the entry to market is much lower.
But yes, you want to buy metals when you can exchange fewer of your paper dollars for them and vice versa when selling. IMO you have to decide whether or not you think the dollar is going to continue to inflate or not. If it is, then it stands to reason that it's going to take more and more of them to purchase an oz of gold or silver.
I've been buying it over time for about a year now and the most i've paid was like $1100 for oz of gold, which kinda sucked when it dipped below 800 not too long ago, but my avg price is probably around $850 an oz. I suppose that if the dollar rebounds and gas gets back down to $2 / gallon and food and energy prices come back down to "the good ole days" pricing that the price of precious metals would also go down... Sad thing is that in almost every industry I hear people talking about prices are going up and we all know that the Fed is just printing money with nothing to back it except promises so I don't think we have that great of a chance of the value of the dollar rebounding any time soon.
I remember reading somewhere than an Oz of silver will buy you enough food for a week if this shit really goes bad! I just picked up 520oz of silver for around $15.65 each delivered which was better than my last order which was closer to $18 so you can certainly buy in at better times than others, problem will be if indeed supply runs out or the price makes a ridiculous run up and just doesn't come back down then it's too late.
I think that even if there is a 10% chance of runaway inflation, or stagflation, that storing a percentage of my current paper moneys value into metals is probably not a bad move. I'd recommending buying smaller amounts over time than just one big time lump sum purchases, and IMO silver is the best to get into to start because the entry to market is much lower.
But yes, you want to buy metals when you can exchange fewer of your paper dollars for them and vice versa when selling. IMO you have to decide whether or not you think the dollar is going to continue to inflate or not. If it is, then it stands to reason that it's going to take more and more of them to purchase an oz of gold or silver.
I've been buying it over time for about a year now and the most i've paid was like $1100 for oz of gold, which kinda sucked when it dipped below 800 not too long ago, but my avg price is probably around $850 an oz. I suppose that if the dollar rebounds and gas gets back down to $2 / gallon and food and energy prices come back down to "the good ole days" pricing that the price of precious metals would also go down... Sad thing is that in almost every industry I hear people talking about prices are going up and we all know that the Fed is just printing money with nothing to back it except promises so I don't think we have that great of a chance of the value of the dollar rebounding any time soon.
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