Sold my gold – Piggington's Econo-Almanac

This topic has 60 replies, 9 voices, and was last updated 16 years, 8 months ago by Anonymous.

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February 5, 2008 at 1:28 PM #11717

Eugene
Participant

Finally got my lazy ass to the post office and mailed my gold coins to the dealer.

It’s been a good run but I think that the gold bubble is over. I expected it to hold for a few more months, but Jan 30 rate cut failed to give it another adrenaline shot and gold is already trending down. It would have been pricked anyway when U.S. recession reached China and India.

I may be wrong, it may yet to hit $1000 before imploding. The thing is – it’s better to get out of the bubble a month too early than a month too late. Especially when your gold is in such an illiquid form as coins. Better get rid of them while dealers are still paying spot price.

If you own gold coins – I urge you to sell or convert into GLD before it’s too late.

February 5, 2008 at 1:44 PM #148439

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:44 PM #148792

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:44 PM #148692

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:44 PM #148709

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:44 PM #148722

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:45 PM #148443

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:45 PM #148797

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:45 PM #148695

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:45 PM #148727

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 1:45 PM #148714

scaredyclassic
Participant

well. No one knows anything. However. Gold’s not done. I did get nervous right at 900 and sold all i had. just kinda hoping to catch a downdraft. but it’ll be 1200-1500 before a couple years. Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold. And booze and firearms. I’ll buy back when it hits $820 or $1020. either way, there’s noweher else to go.

Drink Heavily.

February 5, 2008 at 2:08 PM #148741

Eugene
Participant

“Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold”

Gold does not have enough intrinsic value to justify $900 per ounce. It costs that much because someone on the market is willing to pay that much for it. Think dot-com stocks. Maybe we’re still in 1998, or maybe it’s already February 2000. No one knows.

If you want to put your stored value somewhere – try euros, swiss francs, yen, oil, corn futures.

February 5, 2008 at 2:08 PM #148812

Eugene
Participant

“Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold”

Gold does not have enough intrinsic value to justify $900 per ounce. It costs that much because someone on the market is willing to pay that much for it. Think dot-com stocks. Maybe we’re still in 1998, or maybe it’s already February 2000. No one knows.

If you want to put your stored value somewhere – try euros, swiss francs, yen, oil, corn futures.

February 5, 2008 at 2:08 PM #148728

Eugene
Participant

“Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold”

Gold does not have enough intrinsic value to justify $900 per ounce. It costs that much because someone on the market is willing to pay that much for it. Think dot-com stocks. Maybe we’re still in 1998, or maybe it’s already February 2000. No one knows.

If you want to put your stored value somewhere – try euros, swiss francs, yen, oil, corn futures.

February 5, 2008 at 2:08 PM #148711

Eugene
Participant

“Here’s what’s gonna happen; there aint gonna be nowhere else to put any stored value. Nowhere to run. Just gold”

Gold does not have enough intrinsic value to justify $900 per ounce. It costs that much because someone on the market is willing to pay that much for it. Think dot-com stocks. Maybe we’re still in 1998, or maybe it’s already February 2000. No one knows.

If you want to put your stored value somewhere – try euros, swiss francs, yen, oil, corn futures.
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