will gold stay high? Or will gold buyers be out of buisness??

[blai745]

Hi so if the dollar gets better within 2-5 years from now, and gold goes back to like at $200-$600 an oz... Can us independant scrap gold buyers still be in buisness? or will we not find any gold around and not make any money. Lol my girlfriend and other people have been bugging me with this questions for months now and I just wanted some input. Thanks...

I also know gold wont go down to like $300/oz in a few years, but it might by the time Im like 45 which is 20 years from now. So can scrap gold buying really become a career??


BTW I buy scrap gold like old jewelry.. and make around $2-$3 per gram I buy

 

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[Slugrusher]

$2200 - $2500 next year.

 

[bigscoop]

Gold will always be in demand. Question is, will you be able to continue to buy low and sell high in enough volume to realize a good return on your investment? Personally, I think gold prices will stay very healthy for quite some time, might even get as high as $1600 - $1700 by this time next year, but I don't know that I would invest in gold right now with any long term goals. But I certainly think short term investing in gold is a pretty sure thing over the next year or two. Good Luck!

 

[Woodland Detectors]

It's going up lads.

 

[Iron Patch]

It's a lose - lose at this point, generally speaking. Either the economy comes back, and if strong, the price gets crushed. But if gold continues to rise it means that double dip recession probably happened, the dollar has dropped even lower, unemployment is still high, and China has gained even more influence in the world economy. So I hope it falls, and falls hard.

To answer the question, I'd probably choose to be optimistic about the future and not buy gold.

 

[Slugrusher]

Silver Silver Silver. "SLV" on the market.

 

[Smudge]

We're entering a kind of economy I don't think anyone has ever experienced before. Its not like the Great Depression. But the Great Recession we are in right now is rewriting the history of economic downturns (can't call it a collapse).

Gold, like any other investment or commodity, will come down. How far and when is anybody's guess. But I don't see anything on the horizon yet that would lead me to believe gold is coming down anytime soon.

 

[jeff of pa]

at this point I think copper has a Better chance of
getting High returns in the future.

& More like Buying Penny stocks.

will cost you well over $1338 with the premium
added to buy an OZ of gold.

Say you pay $1400 you can't make a profit till it goes
well over that, because they will probably only
pay you $1200 Buy Back at $1300 Melt.

Copper on the other hand
you can Probably buy under $4.00 a pound

& Can easily Double in the future

Better off waiting for Copper to hit $3.00 again
& Buy $1000.00 worth
when it hits $7 sell


Just my opinion




Your going to wait a longer time to double your money
on Gold.

 

[Relichunter1]

Don't worry ....keep buying. Bernekes Q.Easing will not work but thats all he has in his arsenal. Look at the economic situation globally. We have major competitors in the world that do no rely on us any more. A country of paper pushers that are producing less cannot have a great economy. China, Germany are running on exports for the moment, but when that slows down and a possible currency war, which can lead to trade wars, and a depression which no one wants can lead to anything. Greenspan, Soros, and Berneke all say Bla, to the economy. Have a good day.

 

[falcolnx]

I would definatly have a backup plan in place and enough money saved to pay your expenses for afew months. You can stay in business as long as your comfortable with the profit margin. Personnally I don't see gold going much over 2100 in the next 5 years. But...

All anyone can give you is speculation.

 

[falcolnx]

You may consider once you sock away enough to be comfortable and gold hits a high enough price selling the gold buying business to another speculator and investing in another turnkey operation with alittle less volatility you can live off of comfortably.

 

[blai745]

at this point I think copper has a Better chance of
getting High returns in the future.

& More like Buying Penny stocks.

will cost you well over $1338 with the premium
added to buy an OZ of gold.

Say you pay $1400 you can't make a profit till it goes
well over that, because they will probably only
pay you $1200 Buy Back at $1300 Melt.

Copper on the other hand
you can Probably buy under $4.00 a pound


Better off waiting for Copper to hit $3.00 again
& Buy $1000.00 worth
when it hits $7 sell


Just my opinion





Your going to wait a longer time to double your money
on Gold.

I think you got me all wrong... I actually buy scrap gold like jewelry..I pay fair prices per gram and only make about $2-$3 every gram I buy from locals around my area...So Im not buying gold bars and hoping that the market will go up so I can make money

 

[blai745]

It's a lose - lose at this point, generally speaking. Either the economy comes back, and if strong, the price gets crushed. But if gold continues to rise it means that double dip recession probably happened, the dollar has dropped even lower, unemployment is still high, and China has gained even more influence in the world economy. So I hope it falls, and falls hard.

To answer the question, I'd probably choose to be optimistic about the future and not buy gold.

I really dont think its a lose - lose situation becuase Ive been doing Gold buying full time and doing pretty well... If I get $23 per gram for 14k then Ill pay my clients from which I buy $20 per gram...I only make money if I accumalate alot of gold.. Now if Gold goes down 50% and I only get $12 for 14k.. I would probably pay $9 and etc etc.. I have no need of opening a store and hiring employees so the risk of me going bankrupt is low.

 

[Iron Patch]

It's a lose - lose at this point, generally speaking. Either the economy comes back, and if strong, the price gets crushed. But if gold continues to rise it means that double dip recession probably happened, the dollar has dropped even lower, unemployment is still high, and China has gained even more influence in the world economy. So I hope it falls, and falls hard.

To answer the question, I'd probably choose to be optimistic about the future and not buy gold.

I really dont think its a lose - lose situation becuase Ive been doing Gold buying full time and doing pretty well... If I get $23 per gram for 14k then Ill pay my clients from which I buy $20 per gram...I only make money if I accumalate alot of gold.. Now if Gold goes down 50% and I only get $12 for 14k.. I would probably pay $9 and etc etc.. I have no need of opening a store and hiring employees so the risk of me going bankrupt is low.

The lose-lose I mean in general as a country. On a personal level you've been doing well because gold has constantly gone up for years, and as you said yourself you need a lot to make money, so what happens if it starts to go down? It's just like a stock that you have to guess the right point and sell, or ride out the bad times and hope it comes back but risk losing more. What's really in your favor is whether it goes up or down it's a very slow process so you can't lose your shirt. I sure wish I had started buying it 10 years ago!

 

[Eric Willoughby]

Let me be frank here guys. Gold isn't going up in value, its the dollar that's crashing. The higher gold and silver goes, it means one thing..... inflation. The dollar is becoming less valuable, so it takes more of it to buy anything.... in another 2 or 3 weeks the cost of car and truck tires is going up in cost at 8%.

Don't take this as a "conspiracy theory" in any way, but the economy is controlled, and not by our own government either. It is controlled by private banking interests who swindled thier way into our society under false pretenses back in 1913-1914, with the added help of J.P. Morgan, Senator Nelson Aldrich, and one naive Woodrow Wilson who got duped into signing the Federal Reserve Act as an agreement in exchange for campaign support. This is actual documented history and any economist that is worth his salt will tell you this is a fact. We lost our power to regulate our own dollar and the economy a long time ago. Since we have let private banking cartels print and loan us money to run our economy instead of printing it for ourselves, we have to keep borrowing money to run our economy and to pay the interest on the loans of previous years past. It's like paying off a huge credit card with another credit card, and doing this every year since 1914 until now, and add on top of all the extra loans for "special projects" wars, and "humanitarian aid"...... this is where the National Deficit comes from. The dollar will not recover, they are blowing out the dollar in order to get us desperate enough to accept another form of currency and a more stream-lined form of political control.

You think its tough now? Just wait, its going to get a whole lot worse.

 

[bigscoop]

It's a lose - lose at this point, generally speaking. Either the economy comes back, and if strong, the price gets crushed. But if gold continues to rise it means that double dip recession probably happened, the dollar has dropped even lower, unemployment is still high, and China has gained even more influence in the world economy. So I hope it falls, and falls hard.

To answer the question, I'd probably choose to be optimistic about the future and not buy gold.

I really dont think its a lose - lose situation becuase Ive been doing Gold buying full time and doing pretty well... If I get $23 per gram for 14k then Ill pay my clients from which I buy $20 per gram...I only make money if I accumalate alot of gold.. Now if Gold goes down 50% and I only get $12 for 14k.. I would probably pay $9 and etc etc.. I have no need of opening a store and hiring employees so the risk of me going bankrupt is low.

I think you're playing "a very safe" gold game. Keep it short term, don't get yourself tied into anything too big, change with the tide. Even as gold starts to decline there will always be scrap gold out there for the buying.

 

[liftloop]

And as soon a every buddy sells because their all greedy... It will fall fall and fall and every thing will cl apps... because the only reason its is going up is that their are buying it...look out..

 

[Chuck-N-Detroit]

Gold going up or down has very little to do with buying scrap gold

I think you are missing the point and I can see you are new to the game. In round numbers you buy at 50% of its value at the moment and sell right away. it has nothing to do with it's value.

If you buy with the expection of gold going up you are an investor. If you buy off the street at 50% and sell right away (within a week or two) you are a scrap gold Buyer/Dealer

The advantage of high gold is that you can make more money for any particular buy providing you are making 50%, such as just one ring

Chuck

 

[s.c.shooter]

I saw on the news the other day where Uncle Sam is geting ready to hold his hand out for the scrap gold industry like he does with everything else and is going to require some kind ofpaperwork for any sales over $600.

 

[blai745]

Re: Gold going up or down has very little to do with buying scrap gold

I think you are missing the point and I can see you are new to the game. In round numbers you buy at 50% of its value at the moment and sell right away. it has nothing to do with it's value.

If you buy with the expection of gold going up you are an investor. If you buy off the street at 50% and sell right away (within a week or two) you are a scrap gold Buyer/Dealer

The advantage of high gold is that you can make more money for any particular buy providing you are making 50%, such as just one ring

Chuck

I think that really sums it up chuck, and informs the folks that get confused with Gold investing and Scrap Gold buying... As for buying scrap gold at 50% melt value, Im not one of those scam Cash for gold store waving sign guys... I usually pay 80%-85% melt and alot in volume and also repeat customers.. And I suppose if gold fluctuates..so will may cash payouts.. but No matter what the gold price is I will never make more than $3 per gram..unlike like CASH FOR GOLD which only Pays 25% melt.