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Started By
Message
Gold now over $2700/oz.
Posted on 9/26/24 at 6:58 am
Posted on 9/26/24 at 6:58 am
How high does this go?
7
Posted on 9/26/24 at 7:32 am to SloaneRanger
I think it has to hit $3000 or so to match inflation adjusted highs. Not out of the question if war breaks loose all over the world.
Posted on 9/26/24 at 8:58 am to SloaneRanger
Many on this board laughed at buying gold 
Posted on 9/26/24 at 9:01 am to SDVTiger
quote:
Many on this board laughed at buying gold
Over the last 5 years despite it growing 77%, the S&P 500 has grown 95%
Over the last 20 years gold has grown 550% while the S&P 500 has grown 636% roughly
It's not a BAD investment, there's just better/easier ones out there like throwing money in the S&P 500 in retirement accounts, especially ROTH retirement accounts where you pay zero on the gains
With gold you are always subject to capital gains tax
This post was edited on 9/26/24 at 9:10 am
Posted on 9/26/24 at 9:50 am to thunderbird1100
quote:
Over the last 5 years despite it growing 77%
Yet everyone of you geniuses said not to buy it
Posted on 9/26/24 at 9:51 am to thunderbird1100
Gold can be sold privately/under the radar. Do you think ol boy selling his 1oz gold coins on FB marketplace is reporting the gains? Doubtful
Try selling your S&P stocks on Craigslist
**This is not financial advice**
Try selling your S&P stocks on Craigslist
**This is not financial advice**
This post was edited on 9/26/24 at 10:24 am
Posted on 9/26/24 at 10:23 am to SloaneRanger
Gold miners on the TV shows are very happy.
Posted on 9/26/24 at 10:36 am to SloaneRanger
I've been talking myself out of buying some gold since it was 2K because I didn't want to physically own it and didn't find an ETF that didn't have downsides. FML
Posted on 9/26/24 at 10:57 am to SloaneRanger
The global bond market is like 300 trillion and it’s basically a big pile of trash. So yeah, It can go much higher particularly as we enter a monetary expansion cycle. Bitcoin is the vehicle to watch though in the next few months. I think it’s got another parabolic move in it like 2016-2017 and 2020-2021.
This post was edited on 9/26/24 at 10:59 am
Posted on 9/26/24 at 11:33 am to FAT SEXY
quote:
Gold can be sold privately/under the radar. Do you think ol boy selling his 1oz gold coins on FB marketplace is reporting the gains? Doubtful
Sure, you can cheat the system and hope not to get caught. Good luck continually doing that in any significant quantity.
Even then, having cheated the system and hoping to not get audited by the IRS you still didnt make as much as someone who had the S&P sitting in a ROTH account. Is that worth it? Not really
This post was edited on 9/26/24 at 11:34 am
Posted on 9/26/24 at 12:11 pm to thunderbird1100
Most stackers don't look at Gold as an "Investment"
They view it as an alternative form of savings/wealth protection.
They view it as an alternative form of savings/wealth protection.
Posted on 9/26/24 at 12:40 pm to SloaneRanger
If bitcoin can hit 70,000 then why can’t gold?
Posted on 9/26/24 at 1:14 pm to FAT SEXY
quote:
Most stackers don't look at Gold as an "Investment"
Any asset you buy and hold for a good length of time would be considered an "investment" by definition.
Posted on 9/26/24 at 1:22 pm to thunderbird1100
I get that, I'm just saying that we view it as something different than how we view equities.
Posted on 9/26/24 at 1:31 pm to SDVTiger
quote:
Yet everyone of you geniuses said not to buy it
quote:
Over the last 5 years despite it growing 77%, the S&P 500 has grown 95%
Why get 77% when you can get 95%?
Literally no one on this board has said to hold cash instead of buying gold; they have said buy things other than gold because those other things are better investments.
Posted on 9/26/24 at 2:35 pm to Joshjrn
quote:
Why get 77% when you can get 95%?
Why not both clown
Posted on 9/26/24 at 2:43 pm to SDVTiger
quote:
Why not both clown
That makes no sense. Every dollar you invest in gold is a dollar you didn’t invest in a more productive asset, which means you make less money overall.
I know you’re not a serious person, but this is a level of dense that’s still somewhat surprising.
Posted on 9/26/24 at 4:44 pm to Joshjrn
In 2008 the S&P was down 38.5% and gold was up 5.5%. Food for thought for anyone that doesn’t think gold adds anything to a portfolio.
Posted on 9/26/24 at 4:49 pm to beaverfever
quote:
In 2008 the S&P was down 38.5% and gold was up 5.5%. Food for thought for anyone that doesn’t think gold adds anything to a portfolio.
And prior to that point, gold performed far worse. After that point? Gold performed far worse. Anyone who would try to time that out and back in is a fool.
Now, if you understand that you have a psychological weakness that needs to be compensated for, and holding something like gold keeps you from panic selling during crashes, by all means. It’s certainly less than ideal, but it’s not foolish.
But for anyone who can buy and hold without panicking? Gold serves no purpose.
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