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Is Gold Good?
Old 04-05-2011, 07:31 AM   #1
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Is Gold Good?

Is real gold really good for an IRA? There is too much on TV saying to buy gold NOW. Should I sell some stocks and buy gold now or is it too late?
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Old 04-05-2011, 07:35 AM   #2
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Should I sell some stocks and buy gold now or is it too late?
Yes.
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Old 04-05-2011, 07:39 AM   #3
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There is too much on TV saying to buy gold NOW. Should I sell some stocks and buy gold now or is it too late?
I don't buy what is advertised on TV, be it a product (two for the price of one - shipping extra ) or an "investment".

IMHO, if gold is considered from the standpoint of doing research and it makes sense to you based upon your personal current IPS (Investment Policy Statement), then purchase it - to the limit outlined in your IPS.

Otherwise, you're just falling for "advertiser claims" and there is no relationship to your personal goals.
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Old 04-05-2011, 08:06 AM   #4
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Here's a 10 year gold chart:

Gold Chart - Last 10 years

IMO, that buying opportunity has passed.
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Old 04-05-2011, 08:19 AM   #5
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Man, talk about a leading question!

10 Charts, 10 Stories of the 'Real' Gold Price - Seeking Alpha

Personally, I like to keep a very small percentage (under 5%) of my portfolio in gold, to serve as a counterweight and a moderator. This practice has served me well for many years, but no guarantee for the future.
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Old 04-05-2011, 09:19 AM   #6
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Over the long term, gold is a store of value, not an investment.

It can go up and down a lot as speculating sentiment changes, but over the long haul it should not buy more or less for you in the future if you make it a regular part of your portfolio.

Generally, when lots of people are suggesting it is a good time to buy gold, it isn't.

Frankly, I'd rather invest in enterprises that can increase their output pay that out to me in increased earnings.

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Is real gold really good for an IRA? There is too much on TV saying to buy gold NOW. Should I sell some stocks and buy gold now or is it too late?
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Old 04-05-2011, 09:44 AM   #7
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Back in 2001, I was buying & selling silver. Making a profit, the spot price was around $4+. I remember that gold was at $275, and thinking there's no way I'm paying THAT much for an ounce of gold! Just another of my great financial decisions lol! I shoulda loaded up....but who knows? Apparently not me.
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Old 04-05-2011, 10:37 AM   #8
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Is Gold Good ?
Yes gold is... as good as gold. And you can take that to the bank.
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Old 04-05-2011, 10:47 AM   #9
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I wouldn't put gold in an IRA but I believe in buying a little silver or gold each year. I've been buying an ounce of gold each year for the past 20 years. And, I give each of my kids and grandkids an ounce of silver each birthday and Christmas. Over the years it has added up. Looking ahead I don't know and haven't every known the best time to buy gold. And, if you do a little each year it doesn't matter, you'll love it if you ever need it and your heirs will all love it if you never needed it. And, none of my kids or grandkids have ever sold any of their gifts......they treasure them much more than any toy or other gift I could have given them. And, buy coins with little premium if possible, the internet will offer many choices, I stay away from all those "collector" gold ads that you see advertised on TV and radio.
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Old 04-05-2011, 10:48 AM   #10
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I would buy Goldschlager, and drink my gold...........
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Old 04-05-2011, 11:08 AM   #11
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Around this time last year, I bought some shares of a gold fund. GGN. Gaebelli Gold something-or-other. Been happy with it so far. It's been paying 14 cents per share, per month, currently trading around $19/share.

So far, it's appreciated about 9% in the share price since I bought it, and when you add in the dividend, I figure I'm up around 17%.

Now, I've had individual stocks and other mutual funds that have shot up more than that in the past year, but I'm happy with it. I figure it gives a bit of consistency to my portfolio.
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Old 04-05-2011, 11:25 AM   #12
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Although there is nothing wrong with having, say, 5% of your portfolio in gold, I do not have gold in my portfolio, and I do not plan to buy any. I knew so many people back in the 1980's who put everything into gold at its peak and regretted it.

I wouldn't suggest buying gold until you know enough about it to make that decision on your own. Especially, I wouldn't buy anything simply because it was being hawked on TV.
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Old 04-05-2011, 11:28 AM   #13
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I have a few gold mapleleafs bought when gold was around $300/oz. At the current prices I would not consider buying any gold or silver now. Don't necessarily consider it an investment, but do like the much higher prices now compared to when I bought.
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Old 04-05-2011, 02:07 PM   #14
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Is it a good time to sell gold?
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Old 04-05-2011, 04:16 PM   #15
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Is real gold really good for an IRA? There is too much on TV saying to buy gold NOW. Should I sell some stocks and buy gold now or is it too late?
Wait until gold bottoms out, then sell some of your stocks that are about to tank and buy gold. Otherwise, I'd sit tight with my low cost index funds.
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Old 04-05-2011, 07:53 PM   #16
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We have about 10% of our portfolio in USAA Precious Metals.
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Old 04-05-2011, 09:37 PM   #17
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Back in 2001, I was buying & selling silver. Making a profit, the spot price was around $4+. I remember that gold was at $275, and thinking there's no way I'm paying THAT much for an ounce of gold! Just another of my great financial decisions lol! I shoulda loaded up....but who knows? Apparently not me.

During this period, silver was a better play than gold. With the spot on gold now at $1,452.90 that would have been a price increase multiple of 5.28. With the spot on silver now at $39.24 the price increase multiple of 9.81 ($4.00 silver) or 7.85 ($5.00 silver).
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Old 04-06-2011, 01:10 PM   #18
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DW's regret about gold is that we did not buy any when it was $20 an ounce in the early '70s and we were living overseas. Of course, it was "illegal" for Americans to own non-antique gold (not the right term, but means very old coins) so I said it was a bad idea. Probably would have gotten 100 oz as that would have been all we could have afforded. Never would have kept it this long - probably would have sold when it hit $200 or so.
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Old 04-06-2011, 03:28 PM   #19
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I think gold is very good. Last night I was watching an old Jean Arthur movie, Arizona. Everybody paid for stuff with gold coins. I think that world would suit me.

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Old 04-06-2011, 04:04 PM   #20
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The gal was making me frantic by telling me we (I) bought Total Stock Market index wrong, because it was down some percentage while other TSM we own is up 40%.

Asked her if there was some point at which we should sell our physical gold or if we would watch it go up past $1640 and then hold all the way to the $400 we paid for it back in 1998(?). Trying to get her to ignore timing a bit. She did her normal end run around me and said there was no point at which we would sell our gold short of a national SHTF event. Not having a sell point sure cuts down on the decision screw-ups by about 50%.
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