Gold / GLD

[riskadverse]

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 ?

 

[Art G]

Uhhhh, what's the question exactly?

 

[al_bundy]

Whole Foods Market does not accept gold as payment. and neither does any other supermarket i've been to

 

[cute fuzzy bunny]

I've never quite understood what affects the price of gold and therefore I've shunned it over the years.

Good decision. Nobody else understands what affects the price of gold either.

 

[Brat]

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?

 

[Art G]

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