When folks starting talking When folks starting talking about precious metals on a daily basis, I’m convinced now it’s cooler talk ==> the bubble is here.
NicMM
December 3, 2009 @
1:00 PM
Last year when Gold was Last year when Gold was $1000, platinum was about $2000 (or 2 oz gold per oz). Today gold rose over $1200, but platinum is around $1500 (1.25 oz gold per oz).
NicMM
December 3, 2009 @
1:03 PM
I bought a couple of gold I bought a couple of gold coins at a price around $850 a piece early this year. Today I sold them at $1217 a piece. Pretty good interest for one year as a special “CD”.
NicMM
December 3, 2009 @
1:05 PM
Sorry folks, after I Sorry folks, after I corrected some typo, your votes were gone. Please vote again!
Nor-LA-SD-guy
December 3, 2009 @
3:38 PM
I kind of think I could find I kind of think I could find small amounts of Gold if I put my mind to it,
(Right now I am looking through old text about turning Lead into Gold, trying to get this set-up in the garage, but wife wants the car back in so I may have to give up).
Platinum I have no clue how to find, but I think it actually does useful industrial stuff.
(former)FormerSanDiegan
December 3, 2009 @
3:50 PM
Since the relative price of Since the relative price of platinum versus gold is so low why not take the strategy of being long Platinum and short Gold ?
I believe that gold is currently in a bubble, fundamentally. The problem is that it could go considerably higher from here on speculation before returning to fundamental value or alternatively the fundamentals could catch up to the speculation via decline of dollar and/or increased inflation (this is what the speculators are banking on … or hedging against)
poorgradstudent
December 3, 2009 @
4:02 PM
While I don’t think gold is a While I don’t think gold is a “bubble” per say, given the long term prospects of the dollar, I don’t think it’s a great investment right now either. To put it in terms of the housing bubble, Gold looks to me like it isn’t quite at the peak yet, but that peak will come soon and rop off fast when it hits.
Platinum does have more commercial application than gold and looks less overvalued. Given that stocks look a little overvalued right now I wouldn’t consider it too crazy for someone to throw a little money into platinum, especially as diversification.
Coronita
December 4, 2009 @
11:19 AM
Gold just took a 4% hit Gold just took a 4% hit today…
(former)FormerSanDiegan
December 4, 2009 @
11:24 AM
flu wrote:Gold just took a 4% [quote=flu]Gold just took a 4% hit today…[/quote]
ANd platinum dropped ~ 2.5%.
Short Gold/ Long platinum would have been up today.
“An ounce of gold was down a further 2.2 percent at $1,143.60, way lower than last week’s record high above $1,225.”
If you bought a few days ago at top and watched your value fall 6+% in just a few days, my condolences…..
Crude is getting hammered too… $74ish.
Arraya
December 7, 2009 @
5:01 AM
Time to sell Time to sell
Coronita
December 7, 2009 @
6:33 AM
Like I Like I said…Bbbbbbbbubbbble…
Arraya
December 7, 2009 @
6:39 AM
We have a whole lot of
We have a whole lot of deflation before dollar problems.
Coronita
December 7, 2009 @
6:40 AM
Arraya wrote:I don’t know how [quote=Arraya]I don’t know how you have a bubble in Gold. It’s not used for anything. Demand pushes it up, then down. Herding behavior. It’s not like you need a certain income to support prices or anything.
We have a whole lot of deflation before dollar problems.[/quote]
Too much speculation and fear about collapsing economies. And now that it seems Fed, retail, co’s are going to prop up the markets (again), some of this fear I’m guessing in the short term will subside…
Even shitty tech companies like AMD are getting some of this action of euphoria. $4/shares were the best speculations to make a few months ago.
Nor-LA-SD-guy
December 7, 2009 @
7:13 AM
flu wrote:Like I [quote=flu]Like I said…Bbbbbbbbubbbble…[/quote]
Must have had enough suckers on board so it was time to pull the rug I guess.
Too bad I was looking forward to selling Dry dredges .
Coronita
December 7, 2009 @
7:42 AM
Nor-LA-SD-guy wrote:flu [quote=Nor-LA-SD-guy][quote=flu]Like I said…Bbbbbbbbubbbble…[/quote]
Must have had enough suckers on board so it was time to pull the rug I guess.
Too bad I was looking forward to selling Dry dredges .[/quote]
I’m sure you’ll get your chance when the retails numbers come in after christmas.
hehe… Let me guess flu? hehe… Let me guess flu? You were irritated you did not buy in on it when you were pondering it a few months ago and now you are relieved to see happen what you thought would happen.
I sold a substantial portion last week that I had bought in early 07, leaving me with essentially a nice chunk of free gold.
The dollar with have problems, but it’s not 2010s problem. IMHO
I think Gold could make it down to the 700 range again.
Coronita
December 12, 2009 @
8:27 AM
Arraya wrote:hehe… Let me [quote=Arraya]hehe… Let me guess flu? You were irritated you did not buy in on it when you were pondering it a few months ago and now you are relieved to see happen what you thought would happen.
I sold a substantial portion last week that I had bought in early 07, leaving me with essentially a nice chunk of free gold.
The dollar with have problems, but it’s not 2010s problem. IMHO
I think Gold could make it down to the 700 range again.[/quote]
Honestly, irritated yes. But more so, because I wish all the cooler talk about buying gold would stop, especially from the same people that a few years ago talked about buying investment property and a few years before that about the stock bubble.
I’m not complaining though. I’ve picked up my fair shares of “bargains”. Can’t complain about picking up Citibank for a buck, AMD for a tres bucks, or American Express in the twenties. But Rich is right, stocks are overpriced again.
December 3, 2009 @ 12:59 PM
When folks starting talking
When folks starting talking about precious metals on a daily basis, I’m convinced now it’s cooler talk ==> the bubble is here.
December 3, 2009 @ 1:00 PM
Last year when Gold was
Last year when Gold was $1000, platinum was about $2000 (or 2 oz gold per oz). Today gold rose over $1200, but platinum is around $1500 (1.25 oz gold per oz).
December 3, 2009 @ 1:03 PM
I bought a couple of gold
I bought a couple of gold coins at a price around $850 a piece early this year. Today I sold them at $1217 a piece. Pretty good interest for one year as a special “CD”.
December 3, 2009 @ 1:05 PM
Sorry folks, after I
Sorry folks, after I corrected some typo, your votes were gone. Please vote again!
December 3, 2009 @ 3:38 PM
I kind of think I could find
I kind of think I could find small amounts of Gold if I put my mind to it,
(Right now I am looking through old text about turning Lead into Gold, trying to get this set-up in the garage, but wife wants the car back in so I may have to give up).
Platinum I have no clue how to find, but I think it actually does useful industrial stuff.
December 3, 2009 @ 3:50 PM
Since the relative price of
Since the relative price of platinum versus gold is so low why not take the strategy of being long Platinum and short Gold ?
I believe that gold is currently in a bubble, fundamentally. The problem is that it could go considerably higher from here on speculation before returning to fundamental value or alternatively the fundamentals could catch up to the speculation via decline of dollar and/or increased inflation (this is what the speculators are banking on … or hedging against)
December 3, 2009 @ 4:02 PM
While I don’t think gold is a
While I don’t think gold is a “bubble” per say, given the long term prospects of the dollar, I don’t think it’s a great investment right now either. To put it in terms of the housing bubble, Gold looks to me like it isn’t quite at the peak yet, but that peak will come soon and rop off fast when it hits.
Platinum does have more commercial application than gold and looks less overvalued. Given that stocks look a little overvalued right now I wouldn’t consider it too crazy for someone to throw a little money into platinum, especially as diversification.
December 4, 2009 @ 11:19 AM
Gold just took a 4% hit
Gold just took a 4% hit today…
December 4, 2009 @ 11:24 AM
flu wrote:Gold just took a 4%
[quote=flu]Gold just took a 4% hit today…[/quote]
ANd platinum dropped ~ 2.5%.
Short Gold/ Long platinum would have been up today.
December 7, 2009 @ 3:48 AM
http://finance.yahoo.com/news
http://finance.yahoo.com/news/European-markets-drop-as-apf-1278960831.html?x=0&sec=topStories&pos=4&asset=&ccode=
“An ounce of gold was down a further 2.2 percent at $1,143.60, way lower than last week’s record high above $1,225.”
If you bought a few days ago at top and watched your value fall 6+% in just a few days, my condolences…..
Crude is getting hammered too… $74ish.
December 7, 2009 @ 5:01 AM
Time to sell
Time to sell
December 7, 2009 @ 6:33 AM
Like I
Like I said…Bbbbbbbbubbbble…
December 7, 2009 @ 6:39 AM
We have a whole lot of
We have a whole lot of deflation before dollar problems.
December 7, 2009 @ 6:40 AM
Arraya wrote:I don’t know how
[quote=Arraya]I don’t know how you have a bubble in Gold. It’s not used for anything. Demand pushes it up, then down. Herding behavior. It’s not like you need a certain income to support prices or anything.
We have a whole lot of deflation before dollar problems.[/quote]
Too much speculation and fear about collapsing economies. And now that it seems Fed, retail, co’s are going to prop up the markets (again), some of this fear I’m guessing in the short term will subside…
Even shitty tech companies like AMD are getting some of this action of euphoria. $4/shares were the best speculations to make a few months ago.
December 7, 2009 @ 7:13 AM
flu wrote:Like I
[quote=flu]Like I said…Bbbbbbbbubbbble…[/quote]
Must have had enough suckers on board so it was time to pull the rug I guess.
Too bad I was looking forward to selling Dry dredges .
December 7, 2009 @ 7:42 AM
Nor-LA-SD-guy wrote:flu
[quote=Nor-LA-SD-guy][quote=flu]Like I said…Bbbbbbbbubbbble…[/quote]
Must have had enough suckers on board so it was time to pull the rug I guess.
Too bad I was looking forward to selling Dry dredges .[/quote]
I’m sure you’ll get your chance when the retails numbers come in after christmas.
December 12, 2009 @ 1:16 AM
http://www.kitco.com/charts/l
http://www.kitco.com/charts/livegold.html
$1115 and falling..
December 12, 2009 @ 4:17 AM
hehe… Let me guess flu?
hehe… Let me guess flu? You were irritated you did not buy in on it when you were pondering it a few months ago and now you are relieved to see happen what you thought would happen.
I sold a substantial portion last week that I had bought in early 07, leaving me with essentially a nice chunk of free gold.
The dollar with have problems, but it’s not 2010s problem. IMHO
I think Gold could make it down to the 700 range again.
December 12, 2009 @ 8:27 AM
Arraya wrote:hehe… Let me
[quote=Arraya]hehe… Let me guess flu? You were irritated you did not buy in on it when you were pondering it a few months ago and now you are relieved to see happen what you thought would happen.
I sold a substantial portion last week that I had bought in early 07, leaving me with essentially a nice chunk of free gold.
The dollar with have problems, but it’s not 2010s problem. IMHO
I think Gold could make it down to the 700 range again.[/quote]
Honestly, irritated yes. But more so, because I wish all the cooler talk about buying gold would stop, especially from the same people that a few years ago talked about buying investment property and a few years before that about the stock bubble.
I’m not complaining though. I’ve picked up my fair shares of “bargains”. Can’t complain about picking up Citibank for a buck, AMD for a tres bucks, or American Express in the twenties. But Rich is right, stocks are overpriced again.
December 30, 2009 @ 7:39 AM
Ouch…..
http://www.kitco.co
Ouch…..
http://www.kitco.com/charts/livegold.html
$1090 and falling…..
If purchased around thanksgiving, thats close to a 10% loss….
December 30, 2009 @ 9:54 AM
all of these damned things go
all of these damned things go up and down. i prefer straight up.