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10-10-2008, 10:05 AM
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#1
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Full time employment: Posting here.
Join Date: Oct 2002
Posts: 717
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Gold / GLD
I've never quite understood what affects the price of gold and therefore I've shunned it over the years. I made a tidy sum when the Hunt brothers tried to corner the silver market, but every time I played with Gold, I lost. Almost all the opinions about gold come from "gold bugs" and it's hard to separate the facts from fiction. Has anybody here had any insights into the gold market or can anyone point me to a relatively "unbiased" dissertation on the gold market ?
__________________
Random Reinforcement is Highly Addictive.
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10-10-2008, 11:21 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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Uhhhh, what's the question exactly?
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10-10-2008, 12:25 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jun 2005
Posts: 1,543
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Whole Foods Market does not accept gold as payment. and neither does any other supermarket i've been to
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10-10-2008, 12:50 PM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,708
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Quote:
Originally Posted by riskadverse
I've never quite understood what affects the price of gold and therefore I've shunned it over the years.
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Good decision. Nobody else understands what affects the price of gold either.
__________________
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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10-10-2008, 01:07 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 7,109
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I have some gold jewlery that I haven't warn in years (a charm bracelet when you are kicking 70 isn't as charming as it once was). Has anyone sold gold through the places found on-line?
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Duck bjorn.
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10-10-2008, 01:38 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Nov 2007
Posts: 1,052
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I'm gonna take a stab at your question even though I'm not sure what you're getting at.....
actual gold is tangible. If the market tanked, it could stil serve directly as currency. Whereas owning a certificate for XOM in a grocery store ain't gonna get you much. With that said, many people will assume that owning gold stocks or gold indexes will work as well, but it really doesn't. It's just trading on those who are holding the gold. If the market tanks, gold stocks also won't be worth much.
I had a friend who, as a hedge, bought up silver quarters. His theory, that in a worst case scenario, he could at least buy a Coke. My grandfather bought diamonds during the Depression and actually did quite well for himself. I'd buy diamonds over gold. I also would like to have a windmill in my backyard and solar panels on my roof. Oh yeah, I'd suggest putting in a water tower in your backyard. I think that's the ultimate commodity. JMO
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