Ok you guys above sound experienced & Knowledgeable in this stuff.
Can you put it in plain English for the rest of us by giving us advice & pointing us in the right direction if we are interested in dabbling in gold?
(<)<
Can you put it in plain English for the rest of us by giving us advice & pointing us in the right direction if we are interested in dabbling in gold?
(<)<
ok heres the deal...i am bullish on gold but i would still wait for a pullback....its not going to pullback to 800 or anything like that but a pullback to 1060 isnt out of the question and it would save ya 30 bucks. if you want to buy actual physical gold then APMEX.COM or GAINESVILLECOIN.COM is where its at....if you feel ok with digital gold (which is supposed to be backed by physical) GLD is the place to be. as far as miners are concerned there a ton of them BARRICK, GAMMON, AGNICO, NEWMONT are big players...smaller players ELDORADO, NEW GOLD, GOLD STAR...
dont forget to diversify and maybe show silver a little love. any questions lemme know.
Thanks Tanner
Couple more questions if it's ok.........
Do the majority of you guys buy actual or digital?
You mentioned they are supposed to be equal.
Have you or anyone else here had any problems with digital?
And about the prices.
If we aren't familiar with actual going rates at this time, can you give a simple explanation what going on right now with prices per whatever weight it's broken down or sold for, like the actual prices, and is it only sold at one lump weight or amount?
Thanks Again..(<)<
electronic gold is MUCH better than physical gold for the following reasons.
1)the transaction costs are much lower to buy and sell.
2)the difference between the the price you can buy or sell
the electronic gold at any particular moment is MUCH less
than physical gold.
3)you can buy or sell your electronic gold at a fair price in
a nanosecond when the market is trading.
4)you can use margin on electronic gold (GLD) in the stock market.
this leverage allows you to control (own) more of an asset
while tying up less money. for the ultimate leverage open an
account in the futures market in chicago, but don't be underfunded
or overinvested there as you can be right long term, but short term
fluctuations can wipe you out.
5)your electronic gold doesn't have to be stored thus it doesn't incur
storage costs and can't be stolen.
6)you can sell out of the money options on your electronic gold so
that it pays you cash for owning the metal which you can't do with
physical gold unless you do separate and convaluted transactions.
if one knows how to dynamically hedge one can earn this money with a
very little chance of not getting 100% of gold's appreciation.
hope this helps
1)the transaction costs are much lower to buy and sell.
2)the difference between the the price you can buy or sell
the electronic gold at any particular moment is MUCH less
than physical gold.
3)you can buy or sell your electronic gold at a fair price in
a nanosecond when the market is trading.
4)you can use margin on electronic gold (GLD) in the stock market.
this leverage allows you to control (own) more of an asset
while tying up less money. for the ultimate leverage open an
account in the futures market in chicago, but don't be underfunded
or overinvested there as you can be right long term, but short term
fluctuations can wipe you out.
5)your electronic gold doesn't have to be stored thus it doesn't incur
storage costs and can't be stolen.
6)you can sell out of the money options on your electronic gold so
that it pays you cash for owning the metal which you can't do with
physical gold unless you do separate and convaluted transactions.
if one knows how to dynamically hedge one can earn this money with a
very little chance of not getting 100% of gold's appreciation.
hope this helps
the majority of my holdings and folks i mingle with are physical holdings....digital is the way to go unless you are a conspiracy theorist and think the world is ending or obama is going to steal all your gold....digital is much more liquid and you dont have to deal with the storage issue....if you decide to go with physical i suggest you also figure out where your going to put it, dont tell anyone and have some protection vs. a robbery scenario. to my knowledge theres never been an issue with digital however the GLD is hot right now and they would need literally TONS of gold in possesion to actual back with physical soooo i think they are bullshitting some but its a problem if the music stops...
the spot price is always going to play off of TROY OZ which is a slight variation of the standard oz.....physical can be had from a gram up to kilo's obviously with the smaller stuff your going to pay a higher premium cuz your not buying in bulk and it does cost money to mint coins and bars. GLD is one price only..and moves with the market.
try to view gold as a store of wealth and not a money maker...if gold is going up your purchasing power in dollars is probably going down...if gold is going down then your purchasing power is probably going up....its a protection of wealth in my eyes
goldismoney.info is a great site with great folks....a WEALTH of knowledge...
if you have a 1 year outlook i'd wait
if you have a 5 year outlook you'll do fine
if your looking for a quick trade....
think gold nearing the tail end of a bull leg that'll end around the 1300 area...
and than will undergo a year+ consolidation as it has done in the past with a pullback to 1000 or so....
time to build up long term positions was 6-12 months ago.....
time to build up long term positions will be in 6-12 months from now...
not right now IMO
that said regardless of the short term fluctuations with the shit that's goin down right now i'd be surprised not to see 2000 an ounce down the road....higher than that....we'll have to see how things evolve on the fiscal front as this mess proceeds
also...
it always seems like all the gold treads seem to pop up right near the tail end of the bull legs......
also my favorite chart as it relates to gold
no clue what the numbers will be
but gold will continue to buy you more dow before this mess is over....
and based on how high that chart got last time chances are the dip will be just as low as the past if not lower
once you start seeing a 3:1 dow/gold ratio it might be time to start thinkin' gold's run may end in the not too distant future
