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Started By
Message
Gold hits all time high, $2500/oz, this AM
Posted on 8/16/24 at 8:08 am
Posted on 8/16/24 at 8:08 am
Who's gay now?
Probably plummets before the day closes, but pretty nice to see it up there.
Probably plummets before the day closes, but pretty nice to see it up there.
4
Posted on 8/16/24 at 8:09 am to FatMan
quote:Someone staked their sexuality to the price of gold?
Who's gay now?
Posted on 8/16/24 at 8:14 am to beaverfever
I'm fat and insecure...
Posted on 8/16/24 at 8:19 am to FatMan
"All time high" doesn't mean much.
In 1980 gold was $850/oz. It would need to be nearly $3500/oz today to have kept up with inflation.
In 1980 gold was $850/oz. It would need to be nearly $3500/oz today to have kept up with inflation.
Posted on 8/16/24 at 8:28 am to juice4lsu
That’s kind of disingenuous since gold was in a big bubble in 1980. It’s steadily beat inflation. It has probably tracked very closely with the debasement of the dollar which is really all you can ask from it.
Posted on 8/16/24 at 8:29 am to FatMan
Posted on 8/16/24 at 9:40 am to beaverfever
quote:
It’s steadily beat inflation. It has probably tracked very closely with the debasement of the dollar which is really all you can ask from it.
Considering the aggravation involved in buying, storing, and selling gold, I would argue that it needs to do vastly better than beat inflation to be worth holding.
Posted on 8/16/24 at 1:50 pm to Joshjrn
I can make one phone call and have $2 Million in gold delivered to my door by Monday. I can carry that to my bank and put it in a safe deposit box that cost $40/year. That weighs 50 pounds
Not really difficult
Not really difficult
Posted on 8/16/24 at 2:33 pm to OccamsStubble
quote:
I can make one phone call and have $2 Million in gold delivered to my door by Monday. I can carry that to my bank and put it in a safe deposit box that cost $40/year. That weighs 50 pounds Not really difficult
What premium above spot will you pay? What value below spot will you have to take to find a buyer at a moments notice?
Posted on 8/16/24 at 2:57 pm to juice4lsu
And silver would be well over $100 too not 1/2 of ATHs
Posted on 8/16/24 at 3:06 pm to beaverfever
quote:
That’s kind of disingenuous since gold was in a big bubble in 1980. It’s steadily beat inflation. It has probably tracked very closely with the debasement of the dollar which is really all you can ask from it.
Is it? Take a look at the chart below. Aren't parabolic moves followed by crashes how gold historically moves? Where do you think it's going this time? Maybe $3K or $3.2K /oz? Then it will crash and consolidate to half it's price for the next 10-20 years if history is any indication. So I'm sure now is a great time to buy and hold.
Posted on 8/16/24 at 3:40 pm to juice4lsu
When in history have we been $35,000,000,000,000 in debt?
Posted on 8/16/24 at 3:42 pm to Dawgfanman
I don’t know, give APMEX a call and ask about their spread on a 2M purchase
I don’t know about the buyback spread either, and don’t care since I’m not making a short term investment
I don’t know about the buyback spread either, and don’t care since I’m not making a short term investment
Posted on 8/16/24 at 3:53 pm to FatMan
I can’t think of many things less enticing to me than investing in gold. Id rather take that money to the casino
Posted on 8/16/24 at 4:17 pm to rocksteady
quote:It’s not sexy but in times when people are desperate to find a decent place to put their money, it’s not too bad over the long haul. I bought some between 2020 and 2022 and it’s up 44%. I’ve had far worse investments.
I can’t think of many things less enticing to me than investing in gold. Id rather take that money to the casino
Gold and IMO Bitcoin are going to stay hot as we keep printing and running up the deficit. Bonds are a joke and going to get worse, stocks are already unbelievably expensive and we’re entering a cutting cycle. The cash has to go somewhere.
Posted on 8/16/24 at 4:37 pm to OccamsStubble
quote:
When in history have we been $35,000,000,000,000 in debt?
What's your argument?
Posted on 8/16/24 at 6:57 pm to juice4lsu
quote:
What's your argument?
Unlike the dollar gold will hold its value?
Posted on 8/16/24 at 7:01 pm to mikeytig
quote:Everybody bitches about the dollar "not holding its value", but is that even relevant? It's not like wages over time have not kept pace with (most) inflation. Are we seriously arguing that it's overly relevant that the dollar has "devalued" by 98% since George Washington? What alternate world of even more plenty than the vastness of riches we have now are we positing in the absence of any inflation over time?
Unlike the dollar gold will hold its value?
Posted on 8/17/24 at 6:14 am to Dawgfanman
quote:
What premium above spot will you pay?
< 1% premium on good for delivery bars, .9999 purity. Includes shipping , insurance, and it’s non-taxable …. assuming the parameters given
This post was edited on 8/17/24 at 6:42 am
Posted on 8/17/24 at 6:24 am to juice4lsu
quote:
quote:
When in history have we been $35,000,000,000,000 in debt?
What's your argument?
The more dollars we print, the less value dollars hold.
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