Precious Metals

[olbriar]

I'm not an investor of precious metals but I wish I had been. The prices have increased dramatically in the last few months. Silver was at $48 an oz. at the beginning of November and is now $110 an oz. I don't have any gold beyond jewelry but I do have some silver dollars. We just kept them because they are old. I should have bought some. Gold has gone crazy too. In the same time frame as above, gold was $4,003 an oz. and today $5,015. I would say that now would be the time to sell and not buy but who knows. It might be at the beginning of the rise.

I've not followed the metals market but what little I have read eludes to the financial institutions recent increased demand for having metal assets. I'm sure the big guys know what's going on and are way ahead of the average investor. They are likely the very reason for the sudden inflated trade prices.

 

[Rush]

olbriar, we are truly alone on this platform.

 

[rootabaga]

I'm not an investor of precious metals but I wish I had been. The prices have increased dramatically in the last few months. Silver was at $48 an oz. at the beginning of November and is now $110 an oz. I don't have any gold beyond jewelry but I do have some silver dollars. We just kept them because they are old. I should have bought some. Gold has gone crazy too. In the same time frame as above, gold was $4,003 an oz. and today $5,015. I would say that now would be the time to sell and not buy but who knows. It might be at the beginning of the rise.

I've not followed the metals market but what little I have read eludes to the financial institutions recent increased demand for having metal assets. I'm sure the big guys know what's going on and are way ahead of the average investor. They are likely the very reason for the sudden inflated trade prices.

I recall back in the 70s when gold suddenly jumped to like $800 and there were stories in the news about people in big cities being bludgeoned and having their gold dental work crudely extracted. I guess that's one reason to be happy it's not used anymore!

I'm like you, I have some old silver dollars and half dollars and quarters, but not enough to be considered an investment. I was in Costco the other day and they were selling gold bars for around $5K with a limit of four and I was just shaking my head wondering how many of them they were selling. If you're serious about investing $20K doesn't really mean a lot, and if you aren't serious about it you probably don't have $10 or $20K just sitting in your checking account waiting for Uncle Troy (times 2 or 4).

OTOH, lots of people will shell out serious cash to watch a bunch of millionaires run around in a football stadium in Santa Clara (and other overpaid entertainers during halftime), and if I had the cash for the super bowl I think I'd rather have gold. It would sure last longer.

 

[olbriar]

I had to work far too hard for my money to speculate with what I managed to gather about me. I do not gamble. I realize that I will never be rich but I have no intentions of being desperately poor as I once was.