Gold & Silver

[CrazyFinn]

Anyone notice gold lately. At $966 this morning on it's way back up over a $1000 (I think). Silver is at $14. As the market continues it's downfall and Obama prints dollars up and away we go. Also the rest of the worlds banking is worse off than here so the scramble to safety is on.

I don't know the top but I'm guessing another 25% higher. Bought back in a couple of weeks ago and so far so good. :2thumbs:

I subscribe to an investment newsletter and the dude says stay out of everything but gold.

[JP]

When the dollar drops, gold seems to skyrocket. Gold investors were talking about this years ago on how everyone should start buying gold, especially because the cost wasn't nearly what it is today.

[Scott P]

When the dollar drops, gold seems to skyrocket.

Yes. When the stock market or dollar drops gold rises because people (including overseas investors) buy gold instead of stocks and dollars. I worked in a gold refinery 1995-1999. Whenever the Dow dropped it was actually good for us because we knew our gold would go up.

In 1998 and 1999 I could buy gold at $250 around an ounce. Unfortuantely when I got a new job I rolled everything over to the 401K at my new job. If I would of kept my gold investments (even though I only had a few years worth) I would have a lot more money now. :evil:

[Deathcricket]

You should visit the time travel thread. We can reminisce.

[Iceaxe]

So how do you invest in gold? The wife bitches about a lumpy mattress when I stick gold bars under the bed.

[CrazyFinn]

So how do you invest in gold? The wife bitches about a lumpy mattress when I stick gold bars under the bed.

Your doing it wrong. :roflol: Keep it on your side only. You'll move up in the world. :roflol:

Actually, I bought a gun safe and keep the coins in there. I have nothing bigger. And I buy GLD and SLV stock shares via Scottrade. Also own some KGC (Kinross Gold Corp - Miner).

[denaliguide]

So how do you invest in gold? The wife bitches about a lumpy mattress when I stick gold bars under the bed.

she could maybe (if you asked politely) sleep on the couch? :roflol:

[CrazyFinn]

You should visit the time travel thread. We can reminisce.

Now is when that thing would really come in handy. :haha: I would go ahead a year from now and see whats up. :five:

[rockgremlin]

Our economy is f****d. They keep referring to it as a "deep recession." Isn't a "deep recession" a depression by definition?

Gold tops $1000 an ounce today. Article link from www.Kitco.com


Gold Tops $1,000, First Time Since March as Recession Deepens
By Nicholas Larkin

Feb. 20 (Bloomberg) -- Gold rose to more than $1,000 an ounce in New York for the first time in almost a year as investors, spooked by plunging stocks and a deepening recession, sought to protect their wealth.

Gold futures for April delivery rose as much as $23.80, or 2.4 percent, to $1,000.30 an ounce and traded at $995.10 at 9:40 a.m. on the New York Mercantile Exchange

[UTJetdog]

They keep referring to it as a "deep recession." Isn't a "deep recession" a depression by definition?

Recession is when you lose your job. Depression is when I lose my job. :frustrated:

[rockgremlin]

They keep referring to it as a "deep recession." Isn't a "deep recession" a depression by definition?

Recession is when you lose your job. Depression is when I lose my job. :frustrated:


:haha: It's funny because it's true.

We got ourselves into this mess because of irresponsibility, overindulgence, greed, and reckless consumerism. I find it disturbing that in the midst of all of this the gov't swoops in and attempts to remedy the situation by proposing a massive dose of the very thing that landed us in this mess to begin with. :roll: Obama signs off on the stimulus package and the DJIA plunges 300 points. Ummm...hello? :roll:

[DiscGo]

Recession is when you lose your job. Depression is when I lose my job. :frustrated:


:haha:

[Don]

I'm all about making deposits in gold...

[CrazyFinn]

I'm all about making deposits in gold...

By the looks of your avitar you did better than me today! :2thumbs: