Anyone know about investing in Gold, after advice

BananaRepublic

atush wrote: »

If you want to Grow your money why gold? Sure, it can be a place to put some money in hard times, but it does not give a good return, so is not a retirement bet IMHO. It basically doesnt grow.

It doest do anything, and has no yield/income. It can rise and fall in price, but to my mind, is still too expensive.

Dont get me wrong, I own gold. But I bought it when no one wanted to own it.

But still too pricy for me to buy any now.

I had similar thoughts. It sounds like the OP needs to look into what drives the gold price and then ask if they have the knowledge to work out what the future holds. They might wish to look at historical gold prices:

http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

To my eye it looks like a bad move, but then again I've never bought gold as an investment.

There are of course other investments such as classic cars, antique furniture and wine, but all will require specialist knowledge, and will need looking after as well e.g. humidity controlled garage or a wine cellar. How about buying artwork by young artists before the price for their works potentially rockets? High quality mechanical watches can appreciate in value, although these have to be by renowned makers such as George Daniels, or his protege Roger Smith. I'll stick to 'boring' funds.

kidmugsy

Of course buying gold is speculation - but so is buying insurance.

masonic

kidmugsy wrote: »

Of course buying gold is speculation - but so is buying insurance.

Buying gold is less speculative when you also buy insurance. There are more risks than it just falling in value.

markj113

BananaRepublic wrote: »

I had similar thoughts. It sounds like the OP needs to look into what drives the gold price and then ask if they have the knowledge to work out what the future holds. They might wish to look at historical gold prices:

http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

To my eye it looks like a bad move, but then again I've never bought gold as an investment.

There are of course other investments such as classic cars, antique furniture and wine, but all will require specialist knowledge, and will need looking after as well e.g. humidity controlled garage or a wine cellar. How about buying artwork by young artists before the price for their works potentially rockets? High quality mechanical watches can appreciate in value, although these have to be by renowned makers such as George Daniels, or his protege Roger Smith. I'll stick to 'boring' funds.

Its all well and good looking at the historical price of gold but we are currently entering a new financial world. One of never ending QE, ZIRP, NIRP, insolvent countries, record debt across the world and the push towards a cashless society (paired with bank bail in laws). Sooner or later something is going to go belly up driving the price of gold to record highs.

atush

True, which is why I have a small holding bought sub $700.

But if it all goes t*ts up, i want a shotgun and tinned food/beans/rice thanks. I already have a generator (cuz i live in the boonies and our power was cr*p) , and know how to sterilize water using UV light lol.

brendon

kidmugsy wrote: »

Of course buying gold is speculation - but so is buying insurance.

You need neither gold nor insurance in a portfolio.

BananaRepublic

markj113 wrote: »

Its all well and good looking at the historical price of gold but we are currently entering a new financial world. One of never ending QE, ZIRP, NIRP, insolvent countries, record debt across the world and the push towards a cashless society (paired with bank bail in laws). Sooner or later something is going to go belly up driving the price of gold to record highs.

That is why I advised the OP to "look into what drives the gold price and then ask if they have the knowledge to work out what the future holds". I don't. Time will tell if you do.

Apodemus

atush wrote: »

I already have a generator .... and know how to sterilize water using UV light lol.

Hmmm. I have a felling axe and know how to boil water...I think that will outlast your generator and your uv light!

Superscrooge

Warren Buffett quote..........

"Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."

Read more: http://www.minyanville.com/trading-and-investing/commodities/articles/Warren-Buffett-brka-gold-investing-investing/10/3/2012/id/44617#ixzz42oX65pSS

atush

Apodemus wrote: »

Hmmm. I have a felling axe and know how to boil water...I think that will outlast your generator and your uv light!

I have an axe, a chainsaw, and 2 acres of trees.

But UV light comes free from the sky, so wont be running out anytime soon? Unless you are talking nuclear winter, but none would last long with that (although we two might last longer lol).