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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
What gold have you been buying recently?
    #20556491 - 09/12/14 06:24 AM (9 years, 5 months ago)

If any?

Are there any particular coins or anything to stray from? I use APMEX so sky's the limit at this juncture.

I'd really like to stay in US currency, but in the event I have more money to play with after financed are smoothed out, I'd like to know if there's more risk to some than others.

Going to stay away from generics. Krugs still hold more value? So many choices. Haven't bought gold in like 15 years.


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OnlinegeokillsA
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Re: What gold have you been buying recently? [Re: Adden]
    #20556751 - 09/12/14 08:30 AM (9 years, 5 months ago)

I would be careful buying too much gold right here.  Not saying this isn't a good place to add a little bit to a long term asset allocation strategy, because the metal is at multi-year lows.  But the fact is, the metal is at multi-year lows, there is a lot of downward pressure on the complex, because of the fact that the Fed is signaling to raise interest rates in 2015 and that is putting upward pressure on the dollar, which has an inverse relationship to the price of gold.


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InvisibleAdden
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Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: What gold have you been buying recently? [Re: geokills]
    #20556830 - 09/12/14 08:58 AM (9 years, 5 months ago)

If the Money Manipulator wouldn't buy now then I'm not going to... unless someone else has something to throw out there?


Edited by Adden (10/24/14 11:06 PM)


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InvisibleStonehenge
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Re: What gold have you been buying recently? [Re: Adden]
    #20567016 - 09/14/14 03:43 PM (9 years, 5 months ago)

Asteroid mining is not going to bring down the price of gold. Even if asteroids were solid gold, which they certainly are not, the cost of going out there and bringing it back would be probably more than if you bought the gold at spot. When you add in mining, it becomes prohibitive.

I have enough gold for right now, I bought when it was very cheap and I'm still way in profit territory even if it drops some more. I happen to think the over supply of dollars will lead to inflation which will push up the price of all goods. China and Russia are determined to undermine the dollar and are making deals in local currencies rather than dollars just to bring that about. No amount of fiddling by the fed will stop that from happening. It won't happen overnight but it will happen along with the euro and many other currencies. England would be well advised to pull out of the eu, it does not look too healthy at the moment. Germany seems to be propping them up but how long can they do that?

When usa and Europe tank, china will tank because they are almost 100% export driven. Russia is circling the drain with recent sanctions and putin's bluster can't help him. His one big ace in the hole is gas supplies but he needs the money too badly to withhold it for long. The Russia china pipeline will take years to build.

In the long term, gold is golden. I just have better investment opportunities right now. Plus its not good to have too many eggs in one basket.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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