Investing in Gold, Silver, etc.

Lord of Lies · 01-13-2008, 05:16 PM

Does anyone buy gold or silver? I do the normal savings stuff (401k, Roth IRA, savings account, stocks, etc.) but I'd like to buy some precious ****ls every so often.

I don't know much about it, so I'm just looking for some advice.

AFanNotAFighter · 01-13-2008, 05:21 PM

They are both mean-reverting commodities which means they always tend to go back to the price from whence they came. Gold is roughly where it was 30 years ago. Not much of an investment. The time to buy is when it's below 300 bucks an ounce. That's not to say it won't go up some more but I'd steer clear of it now. It's had a heck of a run already.

Mithra · 01-13-2008, 05:46 PM

Well...Gold is at a record high

The whole "buy low sell high" is a good rule, buying something at a record peak probably isn't the best idea

Lord of Lies · 01-13-2008, 06:52 PM

I agree, but I wouldn't be looking to sell anytime soon. I'm looking at long term (30 years).

Quote:

Originally Posted by Mithra

Well...Gold is at a record high

The whole "buy low sell high" is a good rule, buying something at a record peak probably isn't the best idea

Diyako · 01-13-2008, 08:53 PM

i dunno but when all the fake money we have that isnt backed by anything becomes worthless , precious ****ls will be the only valuable things.

amhlilhaus · 01-13-2008, 09:07 PM

Quote:

Originally Posted by Diyako

i dunno but when all the fake money we have that isnt backed by anything becomes worthless , precious ****ls will be the only valuable things.

it is backed by something, the full faith and credit of the united states, but then stop and consider how far in debt we are, how far the states are in debt, then you local county, city, townships...........oh fuck we're doomed.

Soma · 01-13-2008, 09:20 PM

If you're talking about buying gold in the physical form, meaning you can hold it in your hand, I can't help. If you're talking about buying/controlling commodity options and/or contracts, I can help. Gold is at one of the highest points it's been in years. Buying it now, speculating that the price will rise isn't likely to pay off anytime soon. Perhaps not for another 10-20 years. It's better to sell it right now. Which you can do with commodities. You sell it at the high price it's at now, speculating that the price will drop (which is likely since it's so high right now), then buy it back when the price goes down which makes you a profit.

Before asking, "How do I sell something I don't own?", no worries. Just think of it as the opposite of buy low sell high. If you want more info let me know.

Lord of Lies · 01-13-2008, 10:07 PM

Yeah, I'm looking to buy gold in the physical form. But thanks for the info, that's good to know.

Quote:

Originally Posted by Soma

If you're talking about buying gold in the physical form, meaning you can hold it in your hand, I can't help. If you're talking about buying/controlling commodity options and/or contracts, I can help. Gold is at one of the highest points it's been in years. Buying it now, speculating that the price will rise isn't likely to pay off anytime soon. Perhaps not for another 10-20 years. It's better to sell it right now. Which you can do with commodities. You sell it at the high price it's at now, speculating that the price will drop (which is likely since it's so high right now), then buy it back when the price goes down which makes you a profit.

Before asking, "How do I sell something I don't own?", no worries. Just think of it as the opposite of buy low sell high. If you want more info let me know.

Mithra · 01-14-2008, 01:38 AM

Quote:

Originally Posted by Soma

If you're talking about buying gold in the physical form, meaning you can hold it in your hand, I can't help. If you're talking about buying/controlling commodity options and/or contracts, I can help. Gold is at one of the highest points it's been in years. Buying it now, speculating that the price will rise isn't likely to pay off anytime soon. Perhaps not for another 10-20 years. It's better to sell it right now. Which you can do with commodities. You sell it at the high price it's at now, speculating that the price will drop (which is likely since it's so high right now), then buy it back when the price goes down which makes you a profit.

Before asking, "How do I sell something I don't own?", no worries. Just think of it as the opposite of buy low sell high. If you want more info let me know.

Are you talking about shorting Gold?

ElKarlo · 01-14-2008, 04:01 AM

Don't. The price of gold is at an all time high. Investing in precious ****ls now is like buying internet stock in Feb 2000. Commodities, such as fuel and oranges are hard to figure out. Buy some Roth IRAs as they are tax free when you cash em out. That's your best bet for now.