Gold hits record as investors opt for safe haven

@hoorta said:

Ergo, if you have 1,000% inflation, an ounce of gold will still be worth $20,000 in inflated dollars.

Um, just let me know when the U.S. hits a 1000% inflation rate.

@canton-dawg said:

Gold is a shitty investment.

Um, should we go into a hyper inflation spiral- and don't count that out- printing a few trillion dollars we don't have. Gold will never be (relatively) worth less than what it is, along with silver, (and diamonds- the Jewish WWII inflation hedge). Platinum has plenty of value- not only in coins- but the commercial industrial value is there too....   Ergo, if you have 1,000% inflation, an ounce of gold will still be worth $20,000 in inflated dollars.  

Keeping say 10% of your portfolio in precious metals or outright numismatic collectibles is wise- IMHO....  

@texasag1969 said:

Very true. What made it a good investment this year was the long term inflationary affects of the economic stimulus packages into the trillions of $. But an etf is something that you can buy & sell quickly making gold/silver easier to jump in and back out. I bought a few NGC rated gold coins when the market was well down from the previous high. There was no reason to sell them with $1tril / year deficits that I knew would eventually drive it back up. I of course did not anticipate the many more trillions added this year which is fueling this now. I originally intended to sell around $1750/oz for a nice 50% profit. Now I'm getting greedy awaiting $2300-2500 range. I'll sell through a broker if it looks like it is about to fizzle out though. Right now that does not seem to be the case.

I don''t look at it that way Ag- my gold and silver are my last lines of defense if things go totally haywire....  

PS- I do have minor positions in both gold and silver ETFs besides....  

@canton-dawg said:

Silver is up 80% for the year, the bad thing is how long someone must hold on to precious metals before they can capitalize on it?

History has shown that stocks typically perform better over time.

Very true. What made it a good investment this year was the long term inflationary affects of the economic stimulus packages into the trillions of $. But an etf is something that you can buy & sell quickly making gold/silver easier to jump in and back out. I bought a few NGC rated gold coins when the market was well down from the previous high. There was no reason to sell them with $1tril / year deficits that I knew would eventually drive it back up. I of course did not anticipate the many more trillions added this year which is fueling this now. I originally intended to sell around $1750/oz for a nice 50% profit. Now I'm getting greedy awaiting $2300-2500 range. I'll sell through a broker if it looks like it is about to fizzle out though. Right now that does not seem to be the case.

@axe said:

I don't know if you know this but 5lbs of quarters is exactly $100

At present I have 14-25lb bags in a safe.

How pure are the quarters?

WSS

@texasag1969 said:

Maybe and maybe not. If you go the etf route it is easy to buy and sell like any commodity. Silver is the one that is far more iffy. Remember when the Hunt brothers tried 

to corner the market but failed to account that people would melt down their silverware when it got near $50/oz.? They got burned badly when that happened. But if it hits $2500

per oz on gold, I'm selling some of the collectibles I put away for a grandson's college education that will likely start 6 years from now.

https://www.newsmax.com/finance/markets/gold-price-bofa-citibank/2020/07/28/id/979343/?ns_mail_uid=6d52df85-236f-4a8f-8332-d84fdb5d6ebf&ns_mail_job=DM132954_07282020&s=acs&dkt_nbr=010502buw7s8

Silver is up 80% for the year, the bad thing is how long someone must hold on to precious metals before they can capitalize on it?

History has shown that stocks typically perform better over time.

@kvoethe said:

Ive been sitting on 75lbs of silver quarters...might be a good time to sell for melt value.  Yes I have picked thru all of them for collectibles and quality coins.  These are all circulated coins.

I don't know if you know this but 5lbs of quarters is exactly $100

At present I have 14-25lb bags in a safe.

WSS

@canton-dawg said:

Gold is a shitty investment.

Maybe and maybe not. If you go the etf route it is easy to buy and sell like any commodity. Silver is the one that is far more iffy. Remember when the Hunt brothers tried 

to corner the market but failed to account that people would melt down their silverware when it got near $50/oz.? They got burned badly when that happened. But if it hits $2500

per oz on gold, I'm selling some of the collectibles I put away for a grandson's college education that will likely start 6 years from now.

https://www.newsmax.com/finance/markets/gold-price-bofa-citibank/2020/07/28/id/979343/?ns_mail_uid=6d52df85-236f-4a8f-8332-d84fdb5d6ebf&ns_mail_job=DM132954_07282020&s=acs&dkt_nbr=010502buw7s8