I realize that the thread was talking about gold, however silver is also considered a precious metal and it typically tracks the price of gold percentage wise. I have also read some articles lately saying that the supply of silver may be getting somewhat low, which could help the price.
The other thing good about silver is it is good to have a lower denomination item to trade with if the time comes. It would be more likely to buy an ounce or two (of silver) worth of food (or TP) at a time. You can buy gold in small coins, but they are awful small and could get lost.
Plus it’s easier to get a big pile of silver going!
It took almost 30 years for gold to surpass its 1980 high of about $650 an ounce. I can’t imagine it’s sound advise to purchase gold now at $850 to $1000 per ounce. The yield on real estate holdings over the same period of time are off the chart in comparison to gold or any other precious metal for that matter.
I bought Washington Mutual, (WM) @$3.40 per share and General Motors, (GM) @ $8.95 per share last week. I’m up over 50% in less than a week…
What’s gold done for you guys in the last (7) days?
This is 2008, not 1928… The “Sky” is not falling! Think outside the box a little guys, with a properly placed investment in real estate you’ll be wealthy in 6-8 years.
Good luck with day trading, I gave that up years ago. As long as your asking, my retirement fund is up 400% since 2003.
Just read today that one of my holdings, Suez, did a spin out that is up 40% on it’s initial day!!!
If you are a real trader you would have sold (at least) half of your holdings if they were up 50% in a week so that your remaining holdings were free! It also looks like you just happened to buy those two stocks at multiyear interday lows. Lets see you do that again.
I won’t be day trading Wamu or GM that’s an IRA purchase, I’ll be in for the long haul on both of them.
I do day trade Quantum Fuel Technologies World Wide, (QTWW). I’ve been playing it for about a year. I started with an initial $1K buy in, it’s grown to about $5.2K now. I’ve bought and sold it maybe 20 times over the last year. I use Scottrade at $7 per trade. Except when the stock dropped below $1, then scott trade bumps the trade fee…
ps: Calm down Ralph, you sound a little tense. We’re just having a friendly exchange of ideas…
It think that looks a lot like the real estate median home price graph from 2001 to 2006. We all know how that turned out!
The bottom line is, you can work the statistics to bolster just about any point of view. One thing that doesn’t change, when you buy anything at the top of its market history, you stand a very good chance of loosing your rear end…
I’ll ask it again, why would anyone strongly recommend buying gold at its near all time historical high? The only people in real estate who are hurting are the ones that bought in over the last two plus years at all time record high prices.
Hey Ralph, please tell me you bought some Wachovia, (WB) today. It’s up 26% on the report of loosing $9B and laying off 6500 employees. You gotta love the market:roll:
And NO, I didn’t buy any, but I was thinking about it…