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investing in gold

Posted on 7/23/13 at 6:17 pm
Posted by robot55
Member since Dec 2008
870 posts
Posted on 7/23/13 at 6:17 pm
as a sole source of retirement planning other than my roth ira. good idea/bad idea.
Posted by Lsut81
Member since Jun 2005
80099 posts
Posted on 7/23/13 at 6:32 pm to
Bad and I'm not even one of the gurus here
Posted by NC_Tigah
Carolinas
Member since Sep 2003
123780 posts
Posted on 7/23/13 at 6:36 pm to
quote:

retirement planning
quote:

as a sole source
T E R R I B L E ! ! ! !
Posted by robot55
Member since Dec 2008
870 posts
Posted on 7/23/13 at 6:42 pm to
ok. was thinking it was a safe bet for "investing for dummies," but i guess not
Posted by mahdragonz
Member since Jun 2013
6931 posts
Posted on 7/23/13 at 6:57 pm to
Bad. Gold is a weak investment for growth.
Posted by LSU alum wannabe
Katy, TX
Member since Jan 2004
26964 posts
Posted on 7/23/13 at 6:58 pm to
From all the BS
Cash for Gold" places and websites I assume that gold has more or less peaked. With nowhere to go but down?

What says the money gurus?
Posted by ThaBigFella
baton rouge
Member since Apr 2006
2043 posts
Posted on 7/23/13 at 7:09 pm to
you'll be the smartest man in the room when SHTF and we're all being wiped off the face fo the earth by the illuminati and their secret army. When that happens, you will be able to grade your gold bars for essentials and you will look like a genius. Meanwhile guys like me with stocks and tinfoil hats will be swept under the rug and we will be crying,starving, and killing each other over tomato plants like the movie waterworld

Meanwhile those who own gold will be in private jets, vacationing like the elite.

If you can't sense my sarcasm, Im here to tell you that if and when SHTF, I, along with other people with guns will take your gold which will ultimately be worthless in an end of times scenario. Gold is up about $500 over the last 33 years, so aside from the gold bugs who tell you how gold is the greatest investment ever, run away. There are no dividends, and literally any dividend paying bluechip over the last 33 year timeframe has beaten gold soundly in terms of total return with dividends reinvested.

Posted by RidiculousHype
St. George, LA
Member since Sep 2007
10191 posts
Posted on 7/23/13 at 7:43 pm to
I like to long and short gold depending on conditions. Look into NUGT when gold is in recovery and DUST when gold appears overbought. But long-term buy and hold, I wouldn't recommend.
Posted by fishfighter
RIP
Member since Apr 2008
40026 posts
Posted on 7/23/13 at 8:20 pm to
Look at it this way. You can't eat it.
Posted by Bunk Moreland
Member since Dec 2010
53029 posts
Posted on 7/23/13 at 9:38 pm to
Dude, I am kind of a goldbug guy, and I think that is a bad idea. You diversify with gold and hold for some level less than armageddon, say a Weimar or Argentina situation. But if TSHTF, you're better off with bullets and beans. I have found that goldmoney is very trustworthy. I have never heard one bad thing about Apmex other than being out of coin in the last year or so. I know nothing about ETFs or gold IRAs. Good luck!
Posted by Anfield Road
Liverpool Fan
Member since May 2012
1940 posts
Posted on 7/23/13 at 11:45 pm to
What's your take on gold miners (especially those with solid dividend yields)?
Posted by ThaBigFella
baton rouge
Member since Apr 2006
2043 posts
Posted on 7/23/13 at 11:49 pm to
solid yield? gold miners cut dividends when prices drop, there is no solid yield in gold miners. If the price goes low enough, the companies can go bankrupt.
Posted by TheHiddenFlask
The Welsh red light district
Member since Jul 2008
18384 posts
Posted on 7/24/13 at 12:55 am to
quote:

investing in gold


There is no such thing.

There are only levels of speculation on gold.
Posted by brbowhunter
baton rouge
Member since Apr 2013
851 posts
Posted on 7/25/13 at 3:41 am to
the only reason to have gold is if the dollar gets too weak and you need cash, the gold can spend in any county in the world. its wise to have at least 100k in gold. but i wouldn't go buy it. I would mine it myself and save it all. you come out way cheaper and its not so hard to do as im a avid prospector.

with a good plan and decent equipment you could get a half ounce of gold to a ounce of gold a day and have minimal expenses.
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