Anybody buying gold now?

[Jeff95531]

It just went up $25 an ounce but whoa what a year it's been. (Click on the year tab at the lower left of graph)

Commodity: Quote and summary for Gold-Dec 2015 (@GC0Y NY Commodity Exchange (COMEX))

 

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[johnedoe]

There are sellers on sites like eBay selling at 30%, or more above spot, and they are getting it.

Ebay is probably one of the better outlets to maximize your profit.
I have a friend that went into the mining areas and bought raw gold from the miners in the area at a fair price and resold it for nice profit that way.
We have talked about doing that again this summer.

 

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[Jeff95531]

There are sellers on sites like eBay selling at 30%, or more above spot, and they are getting it.

REALLY? Hmmm...

Buy it now! .25 grams of genuine Smith River gold recovered by an actual CA gold prospector! Only $250.00 with FREE shipping.

I like it!

 

[johnedoe]

If you think thats good.... Check out eBay for sellers of black sands.....

 

[Tony_agr]

I bought some gold, my intention is to hold on to it forever (or until economy crashes) it really is not a very good investment, more of a hedge against our devaluation of the dollar, if the economy somehow survives this insane reckless printing of money and manipulation of the markets, I'll pass on the AU to my Girls.
I do have a question though, How does one go about selling a specimen ? I have approx a 10lb chunk of quartz with a visible nugget? 1/8" attached to it, along with some visible spots on the underside. Using an Ohm Meter I'm able to detect a circuit in 3-4 locations on the quartz using the nugget? as the anchor..is it worth just gold value or ??
Thanks in advance for your help,advise,input

 

[meMiner]

oh man! Those videos are priceless. Especially, the comments that a one ounce Canadian gold coin is worthless. However, I could only watch the first two. The stupidity was painful.

 

[Reed Lukens]

Why buy it when you can dig it

 

[Terry Soloman]

Buy low.

The problem with amateurs buying commodities, like gold, is they tend to buy when the price is up and excitement is high then sell when the market is falling or stagnant and full of doom and gloom. That is exactly what you don't want to do - Buy High Sell Low.

If you can resist that very human impulse you will buy when there is blood in the streets (horrible market conditions - like now) and sell when the hype of big profits in a rising market are being shouted out everywhere.

Part of being an amateur investor is believing there is a bottom or a top to any given market. The exact points those bottoms and tops might occur become the focus point for amateurs. To the point they become hypnotized and are afraid to make a move either way. No person can predict the exact top or bottom consistently. The key is to:

Buy Low Sell High.

Forget the bottom or the top and realize that right now the price of gold is very low.

BUY

When the price becomes unimaginably high should you sell? The thing with gold as a commodity is, unlike wheat or pork bellies, it doesn't shrink, burn or rot. The gold you buy today will be exactly the same when your great grandchildren hold it. Unlike a 401k, stocks or a bundle of paper dollars gold will still have value in the future.

This brings me to my theory of gold for the common man. If you can afford to buy gold you can afford to keep it for a rainy day - no matter what the market prices are. Unlike modern fiat money, gold will be there in generations to come, steady, compact, beautiful, divisible, portable, rare and valuable. The ultimate form of savings.

On the other hand if you are considering gold as an investment to make a profit - I'm not a prophet and neither are those folks who try to convince you gold is going up in value. Buy some pork bellies, everybody likes bacon and we all have to eat.

And there you have the market according to Barry. With that and $1.25 you can get a cup of cheap lukewarm coffee.

Heavy Pans

I don't have anything to say, I just wanted to repost this.

 

[bill from lachine]

Terry,

Good post....trying to time the top or bottom is a mugs game....be it gold, stocks, house prices, etc...

Regards + HH

Bill

 

[KevinInColorado]

I predict the price drops even further (in US dollar terms) as this month unfolds. Why?
1. US Federal Reserve Bank raises rates this week
2. This causes more foreign investors to buy US dollar denominated bonds
3. This demand for dollars drives up the dollar vs. other currencies AND vs. gold.
...so gold looks cheaper to those in the US even though it's just as expensive as before to everyone else.

Longer term I do expect it to go up as Chinese and Indian consumption/jewelry/hoarding continues to accelerate.

 

[Hard Prospector]

I bought some gold, my intention is to hold on to it forever (or until economy crashes) it really is not a very good investment, more of a hedge against our devaluation of the dollar, if the economy somehow survives this insane reckless printing of money and manipulation of the markets, I'll pass on the AU to my Girls.
I do have a question though, How does one go about selling a specimen ? I have approx a 10lb chunk of quartz with a visible nugget? 1/8" attached to it, along with some visible spots on the underside. Using an Ohm Meter I'm able to detect a circuit in 3-4 locations on the quartz using the nugget? as the anchor..is it worth just gold value or ??
Thanks in advance for your help,advise,input

Specimen gold is usually worth at least 20% over spot price. I would keep it as a family heirloom to pass down to the kids. Keep it someplace safe (in the gun safe) and every so often take it out and admire it while having a cold beer or sipping a shot.... only sell in the most dire financial emergencies.