Anyone Else Missing the GOLD RUSH?

[Skid Row Joe]

Talked to my baby Brother the other night - the Brother that is presently cash-flowing $71K annually out-of-pocket in private colleges for his three oldest kids away from home.

He related to me that his gold fund in an IRA leapt by nearly $90K+ for just September. He's been in this gold fund for many years - he's not a newby to it. He asked me my opinion; I told him that his longtime financial advisor he hired 15+ years ago that turned him onto gold, has done so well for him - that he would be a fool to back off from or fire the guy after such a good run with him.

Gold continues it's upward charge. Now I'm fairly sure that gold has another 33%+ in upward gain to go - just a wild guess on my part.

What is certain, is that I decided long ago never to again fool with gold, gold futures or gold funds. 30 years ago I played around long enough to actually break even on my speculations.

Anyone else missing out on this sure thing GOLD RUSH?!

[MTI]

Long live the bubble.

[Brian Carlton]

Originally Posted by Skid Row Joe

What is certain, is that I decided long ago never to again fool with gold, gold futures or gold funds.

Anyone else missing out on this sure thing GOLD RUSH?!

Yep.

Only a fool bets on gold..........totally unable to predict long term.

I had this conversation with a coworker today, I think all the cash is running to gold because it has no place else to go. Fixed return funds are flat and the stock market is too unstable. Eventually, someone big will decide it's time to get out and the whole house of cards will collapse.

[MS Fowler]

Isn't Gold simply a measure of the devaluation of fiat currency? Gold has intrinsic value.

No, I'm not invested in Gold.

Originally Posted by MS Fowler

Isn't Gold simply a measure of the devaluation of fiat currency? Gold has intrinsic value.

No, I'm not invested in Gold.

I'm sure it does have some intrinsic value, but I doubt that value is close to it's current price. The price of gold seems to being driven up by speculation at the moment. The only meaningful way to measure the value of a currency is against other currencies.

[Hatterasguy]

Its in a bubble, when the economy starts to present other areas to earn money it will deflate. Now would be a good time to sell gold and lock in your profits.

[TheDon]

I'd invest in some silver as well. It goes up, not as much as gold, but it trends like gold.

[hill]

If professional investors thought that the current gold prices were sustainable. Old mines would be opening up by the dozens in Cali foothills

[Hatterasguy]

Its nothing but speculation, when an investment hits CNN its already tapped and all the smart money is already looking for the exit.

Now if you bought gold at $900, than you would be in the black, time to cash out and move on.

[Matt L]

Just think how nice it would have been to have bought some gold in 1980 and held it to today.

Accounting for inflation, you would have lost more than half of your money. This bubble will end the same way. They all do.

[panZZer]

if you bought when gold was $900 you still would have had to pay $100 over spot--and when you were selling at that exact time you would most likely lave had to take Less than $900 pr ounce. The double whammy that kept me out when it was at $685 in march of 09 .

[panZZer]

But For Sure I wish I had at $685 oz!

[Hatterasguy]

Tell me about it, gold is a horrible investment. My grandfather always played in it because he found it fun, and never made much. I think he bought a new truck with his earnings once in awhile, but it was a hobby to much work for the return.

The best ROI is still real estate, stocks, and investing in your own business. The fundamentals have not changed.

OTOH if you like owning shiny metal go nuts, I can certainly think of dumber things to buy than gold bars.

[mattc]

Jumped in Nov. '99 @ $313/oz. I suspected, at that time, that the
Y2K 'frenzy' might have made a quick profit then; turns out I was wrong. Price at present is irrelevant to me. I will, most likely, die with it - my kids will then split it.
With that being said; Best investment ever!
Considering silver - even at todays price. Not for long term, but more of a jump-in, jump-out fast profit.