Gold prices

[Kevin]

Who thinks that gold prices are another bubble that will burst in the next couple of years versus a good investment that it should stay close to the same price if not continue to rise a bit more in the next few years or so? I say at this point it's a bubble. If inflation doesn't greatly rise, I think in the next couple of years the bubble will burst. That having been said, I wished I had purchased a good bit about 5 years ago!

 

[tsv_1]

too tantalizing to not comment on... depends on how well Fox News does going forward. The higher their viewership, the more people are going to buy (you have to love how they do a news piece on the economic tailspin and immediately follow it up with a buy-gold commercial). Yeeesh. Then of course there's uncle Rupert's recent little skidmark - hard to say how that'll play out, but I don't see FN going anywhere anytime soon.

OK, now with the just-couldn't-help-it out of the way, I think it's actually a very good question. Seems incredibly high right now at >$1600/oz, bubble-high. Interesting to see what the outcome of the debt-ceiling debate might do to gold prices as well.

It's like anything else investment related really... depends on how well polished your crystal ball is. Major world events, congressional retardation, weather disasters, oil, war... all these (mostly)unpredictable things can impact the price. It's all about the gamble (IMO).

 

[Len44]

Interesting thoughts. I, too, wish I had purchased gold five years ago...but I would be selling it all today. While this lunatic congress may still find a way to really screw up the world, and the U.S. in particular, I have to think we will not default...somehow. I think that gold is indeed a [big] bubble, and one that is about to burst. This is especially true if we follow up resolving the the debt ceiling crisis with some actual adult behavior...

 

[Kevin]

Like I said, I think at this point it's a bubble, but I also thought the same thing when it reached $1200 an oz, so I wouldn't be surprised to see it still go a good bit higher.

 

[Rich]

Definitely a bubble. I expect sub $500 per ounce prices within two to three years. That's my prediction.

 

[churchill]

Yes, might be time to short GLD!

 

[Kevin]

I remember starting this thread years ago. I don't have any investments in gold currently, but it drops below $1000 ounce, I might have to seriously consider getting in this time around.

 

[Kevin]

Had to bring this back up with gold dropping, even here near Christmas time when historically prices generally go up a bit. I recently read where around $750 an ounce is about as low as gold could currently go and still remain profitable to the average miner. So should it continue to drop and get anywhere near $1000 or lower it should be a bargain. I am going to switch some of my mutual funds into gold after the first of the year, still debating how much though. Also, platinum right now is selling lower than gold, one of the few times in the last hundred years that has been the case.

 

[stuwee]

I have 20 Krugerrands stashed that I bought in 1980, when I graduated from HS, can't remember what I paid way back then...maybe $300 a piece?? I've since bought some nice Canadian Loonies and a buttload of silver too. I have mutual funds doing very well. I'll wait to see how the market does under the new administration, I might move some things around. Not selling my gold though.

I'm looking into some nice bullion to add to my stash. Get ya some Kevin!!

 

[Kevin]

I have 20 Krugerrands stashed that I bought in 1980, when I graduated from HS, can't remember what I paid way back then...maybe $300 a piece?? I've since bought some nice Canadian Loonies and a buttload of silver too. I have mutual funds doing very well. I'll wait to see how the market does under the new administration, I might move some things around. Not selling my gold though.

I'm looking into some nice bullion to add to my stash. Get ya some Kevin!!

My stocks have been doing so good, that it's hard to pull money from a true investment source to put money into metals which is not so much an investment as it is an insurance policy against bad times. I think I'll purchase some gold here and there when the prices are down with money I manage to save on hand, and leave my stocks alone. It's just that gold dropped so much in the last year that it's hard not to take a chance on it. It is starting to climb up some though, but that might be just people taking advantage of it having dropped so low compared to what it once was just a couple years back.

 

[stuwee]

My stocks have been doing so good, that it's hard to pull money from a true investment source to put money into metals which is not so much an investment as it is an insurance policy against bad times. I think I'll purchase some gold here and there when the prices are down with money I manage to save on hand, and leave my stocks alone. It's just that gold dropped so much in the last year that it's hard not to take a chance on it. It is starting to climb up some though, but that might be just people taking advantage of it having dropped so low compared to what it once was just a couple years back.

Sell high buy low! Here's another thought... I know the auto market very well, I was recently floored that early '70's Ford Bronco's were hitting $70,000 for extremely nice restored examples, I predicted that VW 21 window vans would hit $100,000 years ago, now they're hitting $125,000. I said the same for old station wagons... 4 door hardtop sedans are next to bring top dollars, especially the flat top sedans from GM in the early '60's with a V8 and A/C. The Buick Special's from the mid 50's are a coupe with easy access to the rear seats, lovely lines, check out the prices. Lot's of rust free examples out here in the west. Just to wet your whistle :bowdown:

 

[Gordon Gray]

My stocks have been doing so good, that it's hard to pull money from a true investment source

Hi Kevin,

Given my age and proximity to retirement, I've sold most of my high risk stocks and gone into index funds.

Have a good friend who is into restoring older cars and he has done quite well.

Gordon

 

[timm]

Sell high buy low! Here's another thought... I know the auto market very well, I was recently floored that early '70's Ford Bronco's were hitting $70,000 for extremely nice restored examples, I predicted that VW 21 window vans would hit $100,000 years ago, now they're hitting $125,000. I said the same for old station wagons... 4 door hardtop sedans are next to bring top dollars, especially the flat top sedans from GM in the early '60's with a V8 and A/C. The Buick Special's from the mid 50's are a coupe with easy access to the rear seats, lovely lines, check out the prices. Lot's of rust free examples out here in the west.View attachment 19047 Just to wet your whistle :bowdown:

Stuwee... what do you say about a 99 BMW M Roadster?? limited in production (wiki says 15K total).... I had a car group go gonzo over my car... and I was like.... really??

 

[emery]

The BMW will be worth alot because they were rocket ships and super limited production...probably not as much as the M* but certainly a rare car

By the way Gold is going to skyrocket within two years...probably double

 

[stuwee]

timm, that BMW is a rare car and that and being a Bimmer makes it a smart choice to expect to see a big hold in value for now...not like the Ford GT40's that actually went up over list in recent years, it will just hold, gold is a much better investment right now than the roadster...and like Gordon says index funds should be looked at and see if they fit in your portfolio. I'm looking into some since reading lately.
If your looking into vintage autos, like I mentioned, early 60's GM 'flattop' 4 door sedans from the rust free west with a V8 and A/C, optioned up and well cared for in the $3,000 range will double in the next year or so...Chevy being the most popular, don't count out a nice Olds, Buick or Pontiac sedan, usually better optioned but, with harder to find parts to bring top dollar later.

 

[Kevin]

Hi Kevin,

Given my age and proximity to retirement, I've sold most of my high risk stocks and gone into index funds.

Have a good friend who is into restoring older cars and he has done quite well.

Gordon

Thanks for the information Gordon. I have a brother who is a financial planner. He's done very well for me over the years, I usually go with what he's suggesting at any given point in time. I don't think I am at the age of having to scale down my risk, but knowing how time seems to be flying by now, it will be here before I know it. I started contributing the maximum amount towards an IRA with my first paycheck out of college, and 20 years ago when Roth IRA's were first started I rolled my traditional IRA over into a Roth. Had to pay back a good amount of taxes at the time when I did it but it should be worth it in the long run. I suspect the Roth IRA will be my main source of income once I do retire, and my other mutual funds and investments will be there to help.

Stuwee- Since moving to my current location a bit over 15 years ago, I have not owned a vehicle that wasn't either 4wd or AWD vehicles, they are the only things that can make it up the hill without getting beat to death. I do like older vehicles though. I have told my wife that at some point my wish is to get an older Jeep CJ7 that has been fixed up. Not as an investment, just as a vehicle we could enjoy driving more so than the mundane vehicles we have been driving over the past years.

 

[timm]

timm, that BMW is a rare car and that and being a Bimmer makes it a smart choice to expect to see a big hold in value for now...not like the Ford GT40's that actually went up over list in recent years, it will just hold, gold is a much better investment right now than the roadster...and like Gordon says index funds should be looked at and see if they fit in your portfolio. I'm looking into some since reading lately.
If your looking into vintage autos, like I mentioned, early 60's GM 'flattop' 4 door sedans from the rust free west with a V8 and A/C, optioned up and well cared for in the $3,000 range will double in the next year or so...Chevy being the most popular, don't count out a nice Olds, Buick or Pontiac sedan, usually better optioned but, with harder to find parts to bring top dollar later.

Thanks Stuwee and Emery..... I'm not a car collector... just so happens I bought the M roadster brand spanking new back in 1999...... it was a gift to myself.... I had been divorced for a year - and let me tell you.... I DESERVED IT!!!! haha....