Mr Lee Posted March 2, 2011 Posted March 2, 2011 Gold and Silver Prices, anyone been investing in them? Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted March 2, 2011 Forum Support Posted March 2, 2011 Gold and Silver Prices, anyone been investing in them? And OIL!:emostrongbow: Link to comment Share on other sites More sharing options...
Art2ro Posted March 7, 2011 Posted March 7, 2011 If that's the case, shouldn't the U.S. Government sell off some of the gold that's in Fort Knox in order to reduce the "National Debt" and dig for more gold, oil that is like in Alaska so the U.S. wouldn't have to rely on these Arab jerk-offs? Ain't it? Link to comment Share on other sites More sharing options...
Mr Lee Posted July 18, 2011 Author Posted July 18, 2011 In case anyone is interested, Gold is now just about $1600 an ounce and went over $1600 for a little while, and silver is over $40 an ounce. My link Live Gold Prices $6.17 Link to comment Share on other sites More sharing options...
JJReyes Posted July 18, 2011 Posted July 18, 2011 For developing countries, the recommendation is 2% to 4% of your investment portfolio should be in precious metals as a hedge against political unrest and inflation. In the United States, gold holdings through depository certificates or bullion (coins) traditionally is only around 1%. With the declining value of the US dollar, there is renewed interest in buying gold. The problem is we don't know if the spectacular price increases during the past few year is value or speculation. Look what happened to silver when it was above $50 an ounce just a few months ago. A rules change required buyers to increase the cash amount in margin calls. Silver prices plunged overnight. Another problem is the commission. You pay around 4% when buying and another 4% when selling gold coins, assuming it is from a legitimate dealer. At $1,600 an ounce, the future price has to climb to $1,728 just to breakeven. If you respond to commercials claiming they pay good prices for old gold jewelry, you will receive about 50% of the meltdown value. Again, these are by legitimate dealers. The scammers will ask you to ship the gold jewelry to an address and that's the last time you hear from them. By the way, if you purchase gold coins, buy coins issued by a government like the U.S. Mint or Bangko Centrale ng Pilipinas. The advertising are for coins issued by private mints with commissions larger than 4%. The selling market is huge. The secondary market or resale is small. The private mint claims it is 99.9% pure gold. Are you sure? Link to comment Share on other sites More sharing options...
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