[quote=deadzone]Gold was under $1000 in 2009. And it was a good investment. In hindsight sure RE would have been better investment. But hindsight is 20/20. And frankly I am not and never was interested in being a landlord so it is a moot point and under no circumstances would I have been interested in living in a suburban NC housing tract.
Anyway, the point now is to address the current situation and possible bubble popping. My personal investment decisions 10+ years ago are completely irrelevant to the current situation. Not sure why you insist on bringing that up other than to deflect from your fear of the prospect of a market crash? I really don’t understand why the idea of it bothers you so much.[/quote]
It’s really convenient you picked Gold price in 2009 because that doesn’t tell the entire story of gold. Gold was $1000 in the beginning of 2008, dipped as low as $750 and ended 2008 around $800ish. In 2009, it bounced around $1000/ounce throughout 2/3 of 2009 and towards the end of 2009 there was a lot of gold speculation by folks that we running for cover to safety that pushed gold prices at the end of 2009 to $1200/ouce before settling somewhere around $1150…Gold hit peak prices in middle of 2011 around $1900/ounce… But since hitting that peak middle of 2011, gold went into a decline from 2011 to 2016 when it hit $1050/ounce.
Between 2016-2019, gold didn’t do shit. It moved between $1100-$1400/ounce back and forth.
It reached another peak in the middle of 2020, around $2100/ounce before falling back and now hovers around $2000….
You only made sizable gains on gold if you market timed and sold close to the peaks, but holding long term, it hasn’t really done that well relative to everything else…
It’s not really that great of an investment. It’s “safe”, but falls well short of what the stock market and real estate markets did…no doubt about that…. For example, here’s a subset of what prices of 1 ounce bullion was. It’s not that great of an appreciation.
Also, I don’t know about you. But unless you spend money to store your physical gold in an escrow account, it’s a pain in the ass to store it at home….
Also, oil is only good because of the war. It was in decline. You’re market timing…versus people like my parents my parents who had CVX since the time Texaco filed for bankruptcy in 1985 and keep them for the good dividends. Which is a great thing..
