In retrospect I wish I had bought gold a couple years ago.

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LuxLuthor

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Got some play on it, but didn't buy enough when it was at $400. Looks like its going over $2,000.
 
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PCC

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Re: In retrospect I wish I had bought gold a could years ago.

:eek: Wow! I have $2000 hanging around my neck? Glad that my wife had her buying binges BITD and bought jewelry with our hard earned money. Being Chinese we mostly buy 23K gold.
 

jtr1962

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Re: In retrospect I wish I had bought gold a could years ago.

I wish I had bought some $20 gold pieces (not the 1 oz bullion coins, but the legal tender ones made before 1933) back when I could have gotten them for around $300. My thoughts at the time was gold might drop more, so I'll pass for now. If only I had known...
 

shao.fu.tzer

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Re: In retrospect I wish I had bought gold a could years ago.

I remember well when it was $360 and oz... I remember thinking even as a kid that the demand for gold would eventually outstrip supply. I've been telling people to invest in precious metals since the mid 90s but no one ever listened to me... But then again, I didn't listen to my myself... I was a kid... If I had the money I would have loaded up years ago... Oh well... It's like Apple stock before the Iphone hit though, really isn't it?
 

shao.fu.tzer

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Re: In retrospect I wish I had bought gold a could years ago.

$ 400 !!!! :laughing: :laughing: :laughing: :laughing: :laughing:

I bought mine at £170 which was about $250 at the time.

Well then, old chap, it looks like we have some business to talk... :D
 

Jay R

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Re: In retrospect I wish I had bought gold a could years ago.

I got lucky.

I was crap at saving and used to spend all my cash on the latest 'stuff' that devalued really quickly ( Before my torches took off as a hobby ). I decided that if I was going to spend it all, I may as well spend it on something that would at least retain it's value so I spent about 2-3 years buying gold with my spare money. About half bullion coins and half collectors coins. Worked out well as I have enough to get my son through university now.
 

beerwax

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Re: In retrospect I wish I had bought gold a could years ago.

you could write a thesis on the gold price. you cant eat it, its useful in electronics. looks good in jewellry. feels good to touch. percieved by many as a 'safe haven'. whats an ounce really worth? central banks still have tons. mother earth still has tons.


cheers
 

blasterman

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Yeah.....true. While obviously the price of Gold has a lot of 'investment mark-up' factored in the material isn't nearly as artificially jacked up as lets say diamonds are.

Gold could theoretically go a lot higher, but I'd rather see market money invested there than other commodities like oil futures.
 

jtr1962

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Gold could ultimately go a lot lower, also. I read that asteroids could contain large amounts of rare metals. The reason is on Earth, with its high gravity, most of the deposits of these metals sunk to the core. Once we start mining asteroids gold, silver, platinum, iridium etc. might come precipitously in price. Read all about it.
 

Marmaduke

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Gold could ultimately go a lot lower, also. I read that asteroids could contain large amounts of rare metals. The reason is on Earth, with its high gravity, most of the deposits of these metals sunk to the core. Once we start mining asteroids gold, silver, platinum, iridium etc. might come precipitously in price. Read all about it.
:thinking:
 

Viper715

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I still think it's a buyers market I've heard estimates of $2500-$3000 by years end and up to $5000 within 5 years so theres possibly still great potential. Although the bottom could drop out of it but I think your safe for the time being to buy or hold off on selling for 6 months or more.
 

beerwax

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Gold could ultimately go a lot lower, also. I read that asteroids could contain large amounts of rare metals. The reason is on Earth, with its high gravity, most of the deposits of these metals sunk to the core. Once we start mining asteroids gold, silver, platinum, iridium etc. might come precipitously in price. Read all about it.

well that makes sense - i spose - all the heavy stuff sinks to the centre. i am told that the earths core is a big pool of molten iron. all that energy just down there out of reach.
 

beerwax

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Re: In retrospect I wish I had bought gold a could years ago.

Getting less. 15 years ago you got 5g per ton of ore. Now it's down to just over 2. About 80-90% of the 'new' gold in the shops is recycled.
the 5 g and 2 g per ton probably cant be used as an indicator of how much gold there is , it might just be the economic yield cutoff - with the gold price high mines that yield 2g are economic. might also reflect new mining techniques and might also reflect the large amount of gold that is mined in the course of copper mining, where the low yeild of gold would never justify a mine but its a nice bonus if your digging copper. and we dig much more copper now than 15 years ago.

cheers
l
 

batvette

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Re: In retrospect I wish I had bought gold a could years ago.

Useless facts.. all the gold mined EVER would fit in a cube 20 meters a side. of all that gold ever mined, over 90% of it still exists in circulation. one gram of gold can be hammered into a sheet one meter square.

people now think of gold as useless outside of its use in jewelry and an asset, but consider many centuries ago it was one of very few metals the common person could melt and pour into molds, and bend and form without exotic equipment, and was free from corrosion. (unlike platinum, when the Spaniards discovered that they didn't know what the hell to make of it- and couldn't!)

Hindsight she's a bee-atch. I was looking at the duplex next to the one I rent the other day, I was living in it in the early '90's when it went up for sale for $189,000. It's worth over $800,000 now. I had the down payment for it then but had just divorced, and it was nasty, ex left the state, used the kid as a tool to mess with me. I know if I'd have bought the house I'd have lost it by now. So don't feel too regretful about not buying gold, as everything would not exist in a vacuum if you did. Maybe someone would find out you had a bunch of gold and kill you for it, so it's not for the better.

We always look back and regret lost opportunities, we should have done this or that 15 years ago. look what we'd have now. How much is it worth for you to turn the clock back 15 years?

You'll know the answer in 2026.



"Yesterday is history, tommorrow is a mystery, today is a gift- which is why we call it the present".
 

batvette

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Gold could ultimately go a lot lower, also. I read that asteroids could contain large amounts of rare metals. The reason is on Earth, with its high gravity, most of the deposits of these metals sunk to the core. Once we start mining asteroids gold, silver, platinum, iridium etc. might come precipitously in price. Read all about it.


The author of that piece is dreaming, before you revolutionize the rare metal market you'll have to revolutionize the current technologies of space launch capability. It's all about the payload, baby, on top of that putting it out in space out of earth's orbit is another stage of boost, then you've got to safely get it back.

Maybe in your granchildrens' grandchildrens' lifetimes.

(he kind of knows it he's just minimizing the obstacles)
 
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