Buying gold as an investment

DiggerUK

purch wrote: »

"It's not my calculation.
Those are the words of Shadowstats"

So were did the figure of (edit)$71750 come from?
A fertile or a feral imagination.

edit,typo, $7150

purch

$ 7,150 not $ 71,750 :rolleyes:

A fertile or a feral imagination

Yes you do have.....and the inability to read basic text !!!

As I said, that is what the bloke from shadowstats has calculated, using his data which he claims is far more accurate that the under reported figures released by the US Government.

Even if you wish to disregard the opinions of the man held in such high esteem by Gold Bugs and Conspiracy Theorists worldwide, the question as to why Gold has not kept pace with Inflation over the last few years stills needs to be answered.

Caveat - I hold gold (both physical and in gold company shares) and believe the short-term outlook is generally positive for all commodities, including gold

Ditto.........probably far more than the Digger will ever own, but I don't feel the need to continually post nonsense on the subject.

bendix

DiggerUK wrote: »

So were did the figure of (edit)$71750 come from?
A fertile or a feral imagination.

edit,typo, $7150

You need to look more closely at the quote. It clearly states that if the methodologies used to calculate inflation in 1980 were still being used, it would be worth $7000+ today. Obviously, the factors used to calculate inflation change continuously - new components are added, old ones taken out.

Obviously though, the original author (not purch) is using something to support his argument - needlessly, in my view. By stretching the argument to his degree, he has undermined his main point - that even by normal measures of inflation, gold has failed to keep pace, not just with your 1980 'peak', but the general rate of inflation for much lengthier periods.

Noone is denying gold - like any other commodity - has a place in a balanced investment portfolio. It has a small place in mine. But taking such an extreme position as you do doesn't support gold's merits - it actually detracts from them.

It's a shame you don't have the intellectual subtlety to see that.

billyjojimbob

If you two want to argue, sod off and do it somewhere else.

This is MY thread and I wanted some advice.

And not reading about 2 kids bickering.............. OK?

Biggles

billyjojimbob wrote: »

This is MY thread and I wanted some advice.

And not reading about 2 kids bickering.............. OK?

Fair enough, Billy, but the advice that is pretty clearly coming through in between the bickering is: Don't even think of buying gold as an investment. It isn't one. It's a high-risk gamble. Fine, if you like that sort of thing.

bendix

billyjojimbob wrote: »

If you two want to argue, sod off and do it somewhere else.

This is MY thread and I wanted some advice.

And not reading about 2 kids bickering.............. OK?

How can you have advice without being exposed to the different opinions about gold?

There is no 'fact' about gold - so called facts can be shaped and intepreted to form completely different viewpoints and conclusions.

This forum is about debate on financial subjects. If you don't like it, might I suggest you take your own advice.

And it is NOT your thread.

dunstonh

If you two want to argue, sod off and do it somewhere else.

This is MY thread and I wanted some advice.

And not reading about 2 kids bickering.............. OK?

Digger is the forum "gold" troll. Unfortunately, he pollutes threads with a load of BS about gold and it requires others to balance it up. What you perceive to be bickering is not. It is responsible forum members pointing out some of the negatives.

It's a shame as on non-investment issues, Digger is far more sensible and useful in his posting.

Io07

oh dear, I am utterly confused now....

DiggerUK

billyjojimbob,
Apologies for the annoyance.

Gold is a good saving/investment, best there is. You need to keep in mind you wont find a short route to riches with it, it's a long term hold that serves you best. But don't go large on it until you have cleared debts, including the mortgage.

On it's past performance you can see that there is a time to buy, and a time to wait to buy. Have a good study of the LBMA site.

Once again my apologies.

purch

Gold is a good saving/investment, best there is

:rolleyes:......................:rolleyes:

The physical Gold I own was paid to me as my Bonus in 1991 when the price of Gold was about $ 360 oz

I elected to keep the physical Gold, wheras many of my work colleagues took the money. A few of the guys decided to buy stock in Cisco Systems as they were a 'hot' stock pick at the time, about 12 months after their IPO.

The Cisco stock would have cost them about 25c at the time, so I know who did best out of the deal, and it wasn't me.