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Gold Broke through 1300 Hundred Dollars Today
serf
Member Posts: 9,217 ✭✭✭✭
Looks Bullish as the straws drop in the camel's back!
serf
http://www.kitco.com/news/2017-08-28/Gold-Hits-10-Mo-High-On-Weak-Greenback-Bullish-Charts.html
Gold prices were ending the U.S. day session solidly up, well above the key $1,300.00 level, and hit a 10-month high Monday. A slumping U.S. dollar index that hit a 15-month low today worked in favor of the precious metals market bulls. Silver prices notched a 2.5-month high today. Also, the bullish near-term technical postures for gold and silver suggest still more upside price action for those markets in the near term. December Comex gold was last up $14.70 an ounce at $1,312.60. December Comex silver was last up $0.338 at $17.47 an ounce.
serf
http://www.kitco.com/news/2017-08-28/Gold-Hits-10-Mo-High-On-Weak-Greenback-Bullish-Charts.html
Gold prices were ending the U.S. day session solidly up, well above the key $1,300.00 level, and hit a 10-month high Monday. A slumping U.S. dollar index that hit a 15-month low today worked in favor of the precious metals market bulls. Silver prices notched a 2.5-month high today. Also, the bullish near-term technical postures for gold and silver suggest still more upside price action for those markets in the near term. December Comex gold was last up $14.70 an ounce at $1,312.60. December Comex silver was last up $0.338 at $17.47 an ounce.
Comments
On July 8th I bought a roll ($10 face) of Walking Liberty halves on {elsewhere} for $126.92 including shipping. Today the best price I saw was $146.60 for Franklin halves. That's a Dollar a coin more. I have been buying small amounts of silver whenever the price drops below $16/oz.
I have found the {elsewhere} prices to be as good as buying direct from the dealers & NO extra charge for credit cards. I get a 2% rebate on my card & the dealers all add 4% for a card.
Storing money, though, not investing. One does not get compounded interest from gold or silver, but one does have an asset that will always be worth something.
I'll probably dump a couple of pounds if it hits $ 2,000.00 again, but as noted by Ricci Wright, the best way to make money on gold is to sell it to people that are going to hold it.
Brad Steele
No, I just keep the big coins around, I love to play with them. Want to get a few more.
You can trade it, you say? Uh huh. How many pounds are you willing to give me for this can of beans?
"Fools learn from their own mistakes. I learn from the mistakes of others"
Otto von Bismarck
EvilDr235
I am certainly no expert but from what I can see investing in gold seems to be a good idea for the companies selling it. I can buy and sell used guns and make so much better return. Gold makes nice jewelry though.
Very hard to make money buying retail & selling wholesale. Add in sales tax & in Kalifornia the DROS fee & you have to be very lucky to break even. I have sold some recently at a nice profit but I had them for several years.
quote:Originally posted by Ricci Wright
I am certainly no expert but from what I can see investing in gold seems to be a good idea for the companies selling it. I can buy and sell used guns and make so much better return. Gold makes nice jewelry though.
Very hard to make money buying retail & selling wholesale. Add in sales tax & in Kalifornia the DROS fee & you have to be very lucky to break even. I have sold some recently at a nice profit but I had them for several years.
Forgetting about hurricanes and floods, the good thing about Texas is that it didn't require tax on gold for purchases over $1000. In 2013 all tax for any amount of purchase was removed from gold, silver, platinum.
https://www.jmbullion.com/local/texas/
In the late 1970's ... gold was about $300 a ounce
I bought some in 2003 or so for $338/oz. But its all gone. I ate it all.
I can see metals as a "buy and sell" investment. What I can't see is sitting on a pile of it for the Apocalypse. You can't eat it; you can't burn it. Nor can you carry it around. When you're hungry and cold, it's pretty much useless.
You can trade it, you say? Uh huh. How many pounds are you willing to give me for this can of beans?
A lot of folks say this. Gold is much like the dollar. No you can't eat, burn, drink or smoke either one but you can trade it for something that you can like we do today with dollars.
quote:Originally posted by Rocky Raab
I can see metals as a "buy and sell" investment. What I can't see is sitting on a pile of it for the Apocalypse. You can't eat it; you can't burn it. Nor can you carry it around. When you're hungry and cold, it's pretty much useless.
You can trade it, you say? Uh huh. How many pounds are you willing to give me for this can of beans?
A lot of folks say this. Gold is much like the dollar. No you can't eat, burn, drink or smoke either one but you can trade it for something that you can like we do today with dollars.
Like Ricci (Rocky, Ricci, Rookie; whatever), I am curious as to how many wheelbarrows of cold, shiny metal lumps it takes to swap for a loaf of bread, a gallon of milk, and a jar of peanut butter?
Gold is nothing like a Fiat paper representation of wealth because you can't burn it to stay warm or make coffee, or wipe with it.
quote:Originally posted by Hunter Mag
quote:Originally posted by Rocky Raab
I can see metals as a "buy and sell" investment. What I can't see is sitting on a pile of it for the Apocalypse. You can't eat it; you can't burn it. Nor can you carry it around. When you're hungry and cold, it's pretty much useless.
You can trade it, you say? Uh huh. How many pounds are you willing to give me for this can of beans?
A lot of folks say this. Gold is much like the dollar. No you can't eat, burn, drink or smoke either one but you can trade it for something that you can like we do today with dollars.
Like Ricci (Rocky, Ricci, Rookie; whatever), I am curious as to how many wheelbarrows of cold, shiny metal lumps it takes to swap for a loaf of bread, a gallon of milk, and a jar of peanut butter?
Gold is nothing like a Fiat paper representation of wealth because you can't burn it to stay warm or make coffee, or wipe with it.
But you do have to dig it up to increase the gold money supply and of course it conducts electricity very well and it is a noble metal used in electronics. Now this new graphite lattice they can make could supersede it for some purposes.
However Gold has been a store of wealth for centuries and most central banks store it and hoard it.It's better than paper or digit's in your micro chip where ever that might reside and gold cannot be turn off if you refuse the mark or don't want to pay taxes at the point of sale.
serf