is the gold rush over?

Discussion in 'Financial Cents' started by CATO, Aug 5, 2012.


  1. CATO

    CATO Monkey+++

  2. melbo

    melbo Hunter Gatherer Administrator Founding Member

    I sure hope so, would love to get more ozs for my quarterly purchases. Interestingly they reference the COMEX, which is paper Gold and not necessarily indicative of real Gold.

    Here's a 10 yr chart from kitco:
    Screenshot-22.
     
  3. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Here's 1985 to date:
    Screenshot-23.
     
  4. TnAndy

    TnAndy Senior Member Founding Member

    Most of what is published by the lame stream media is baloney. They pretend not to understand gold or why it goes up in relation to fiat money.

    Gold is money. ACTUAL money. The "rush" won't end until the printing press is take away from central banks.....and that is likely to never happen.

    As a result, over the long term, you'll see gold hit 2500.....3000...10,000.

    Those won't be gains of fantastic profit.....for the most part, they will merely hold wealth in preservation as the price of a loaf bread goes to 5, 10, 50 "dollars".......and those saving in paper dollar denominated instruments are screwed, glued, and tattoo'ed.
     
    VisuTrac likes this.
  5. TwoCrows

    TwoCrows Monkey+

    I read the entire article and near the bottom is probably the real reason, people have used up their disposable income or the part of it that they were willing to spend on gold, and buying has slowed because of that.
    You can't eat it, you can't shoot it, if you keep spending money on it then you don't have money to spend on things you can.
     
    oldawg and tulianr like this.
  6. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    DING DING DING, We have a winning explanation here ladies, gentlemen and simians!
     
  7. melbo

    melbo Hunter Gatherer Administrator Founding Member

    I'll eat my food and shoot my firearms and ammo. My Gold will be an attempt at holding on to some wealth on the other side of the curve.
     
    VisuTrac likes this.
  8. VisuTrac

    VisuTrac Ваша мать носит военные ботинки Site Supporter+++

    Again, another winner! I'm gonna run out of cupie dolls!

    Gold and other PMs are just a method to hedge against inflation and currency instability/inflation. It's a vehicle to protect your assets in uncertain times. Best part is, if you don't need to use it, you can will it to your children/grand children to protect them in the future when you are gone.

    PMs/Money are just a leg of a chair, just like food and water, shelter, security are. You should have your basics down first before you start adding PMs to your mix as if you are not prepared with food / water, shelter and security, all the gold and silver aren't going to be of much help in the long term.
     
    ozarkgoatman likes this.
  9. ozarkgoatman

    ozarkgoatman Resident goat herder

    Once I get rid of my debt then I will buy PMs. Right I have most things under control but wife and I want to be out of debt before we start buying PMs. I believe as others have stated that food and supplies come first once you have good staces of those then the PMs come as wealth presuvation

    OGM
     
    VisuTrac likes this.
  10. TXKajun

    TXKajun Monkey+++

    Yes, the gold rush is definitely over! I say that, backed by my decade of prospecting, watching the PM markets, doing research for years and years. So, folks, sell me all your gold now for $250/oz and avoid the rush or regrets. biglaff

    Kajun
     
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