Gold woke up

[calmloki]

Where we track it it was $1779 on 11/3. Today, 11/11, Philharmonics are $1866.

 

[erkevin]

Gold just seems to meander these days. Once upon a time, you could pretty much count on an inverse relationship to the stock market or general economic conditions (inflation, unemployment). Now, I'm not sure it is used as a hedge against anything any more (at least not by the under-50 crowd).

 

[Spock]

Where we track it it was $1779 on 11/3. Today, 11/11, Philharmonics are $1866.

Where do you get Philharmonics for that close spot? Online they're $1961 today.

 

[38Chevy454]

I don't think gold is anything more than an approximate measure of the US $ value. With inflation that is now documented higher, the value of the dollar goes down and subsequent price of gold increases.
So gold isn't a good investment IMHO. All you might get is a lucky timing bump if you sell at the right time, but over long term it is just equal. I'll take stocks that increase relative to the dollar including inflation.

 

[calmloki]

Where do you get Philharmonics for that close spot? Online they're $1961 today.

We've used AJPM.com in the past and use them to track prices. I agree that gold is bumping up as a response to inflation talk. Think the stock market is zooming up for the same reason - that and people just are desperate to find somewhere to stash there cash that could go up.

 

[Perryinva]

Anyone have opinions on the best way to sell physical numismatic gold? I have a fair number of old gold coins, bought many years ago, long before I was investing, as a way to “diversify” and put some cash where I couldn’t easily touch it. (IIRC 1oz Double Eagles were $4xx back then.) Maybe $20k worth now. I never considered what I would do with them once retired, but the “allure” of just owning it is pretty much over. Also a bunch if silver coins, maybe another $5k worth. I’d rather put it all towards a new Porsche….

 

[sengsational]

^Just call around coin dealers and pawn type places and ask what they'd give you. Be sure to ask about out the door, because they often quote a good rate, then hit you with fees. My Dad had a bunch to sell and worked a deal with Kitco or one of those. They'll tell you exactly what they'll pay, fees, shipping, insurance, etc. It was better than any local shop, but not worth it for a few coins. A coin show might work too...you might play the various buyers off each other quicker than calling around.