Investing in Gold/Silver - way too late?
- Thread starter ncmedia
- Start date
With the price drop today I just stocked up more.
I still say get rid of as much usd as you can.
Congratulations man and welcome to the club
^ Thanks brohams, just got back from wiring them so it's officially offical (well, officially let go of my funds, I'll call it officially official when I R holding bars in my hands).
Wish I did it sooner - however while at the bank I discovered the rate was pretty damn good today - so I left 10KUSD in my acct and converted the rest to CAD - a lot of it. Should have gone through a forex broker etc. but fuck it I just wanted to get rid of the USD = done. 20K in PM's and converted the rest sans 10K - should have got rid of that too but I figure I'll hold onto a bit for now and or will be using it for operational costs of biz.
If you used that same theory in 1980, it would have taken the next 30 yrs just to break even.
OP, why don't you just invest the $$ in building more information products? You will almost never see as good of an ROI in anything else in such a short time period.
*I have been doing this for 4 years now - reinvesting - it's time I did something with the money because it has accumulated fast/large and I can't dump it all back in (believe me you though I'm constantly looking for expense/reinvestment to scale my biz this is simply dealing with the surplus before I make a big move). Thanks though appreciate the advice.
Werd - hey thanks for dedicating your 1000'th to this thread
Weird, and everyone here was calling Glenn Beck crazy when he was telling people to buy gold... at $300 an ounce.
What a bunch of brainwashed retards you all are.
What a bunch of brainwashed retards you all are.
So you rely on investing advice from Glenn Beck, hellblazer? Does he cry when the market drops?
Bump
Just went market short with a small position in SDS.
Not about silver/gold but I didn't feel like making a new thread.
If $SPX goes up to 1260, I'll be adding more to my position. If it breaks through the resistance, I'll probably dump out and wait for another entry point.
Who's with me!
Edit: Two good articles:
http://www.financialsense.com/contr...1260-possible-even-if-new-bear-has-kicked-off (from 8/15... this guy is GOOD)
http://www.financialsense.com/node/6229
Just went market short with a small position in SDS.
Not about silver/gold but I didn't feel like making a new thread.
If $SPX goes up to 1260, I'll be adding more to my position. If it breaks through the resistance, I'll probably dump out and wait for another entry point.
Who's with me!
Edit: Two good articles:
http://www.financialsense.com/contr...1260-possible-even-if-new-bear-has-kicked-off (from 8/15... this guy is GOOD)
http://www.financialsense.com/node/6229
Silver will move up to 70 or 80 so there is much upside there. Gold to 2200-2400 so there is good upside there too. But, when that upside is a guess. There is a lot of movement now because the market is so crazy. The sellers are cashing in on the gains. You may have an opportunity to buy below 1600 on Gold but don't count on it. If you are looking for a quick fix there are other ways. If you want something stable for long term buy it now and put it away. 10,000 in gold is like 5 or 6 Gold 1oz coins. Very small. You can buy Gold Eagle, Kug's, Maples, Panda's. These are all equally valuable because Gold is Gold and the weight is the same. But, coin shots and internet stores will sell you these coins at the current market price plus SPOT. Spot is their mark up. You'll find SPOT between $50-80 over the cost. So if one coin is $1750/oz, you are actually paying $1830 for that coin plus the spot. Since your quantity is small your best bet is to call around local coin shops in your city. Don't buy online because you'll pay spot plus shipping costs. Call or visit the coin shops and tell them you want 5 1 oz coins. Find out what their SPOT is. They will tell you. They will have different spot for the different country coins. Eagles are probably the most expensive. Kug's the cheapest.
for those of you that have invested, how much of your savings did you invest into PMs?
this is one of the reasons i haven't pulled the trigger yet, i can't decide on the right amount to invest.
part of me wants to throw like 75% of my savings into gold and silver, then the other half is saying do 50% and keep 6 months living expenses. But at the same time, i think if i dumped more like 75-80, and i ever needed extra cash i could just sell some gold or silver.
would it be dumb of me to convert a lot of my cash sitting in my savings into gold and silver?
i'm thinking of it all as money, but when i have gold and silver i'll be watching the dollar decline instead of how it is now which is i watch gold and silver go up
this is one of the reasons i haven't pulled the trigger yet, i can't decide on the right amount to invest.
part of me wants to throw like 75% of my savings into gold and silver, then the other half is saying do 50% and keep 6 months living expenses. But at the same time, i think if i dumped more like 75-80, and i ever needed extra cash i could just sell some gold or silver.
would it be dumb of me to convert a lot of my cash sitting in my savings into gold and silver?
i'm thinking of it all as money, but when i have gold and silver i'll be watching the dollar decline instead of how it is now which is i watch gold and silver go up
Don't invest more than you can afford to lose if one of them crashes, as with anything.
Personally, I'd put more into silver, it seems like a safer bet. Alternatively, one option is to keep your money liquid, and go for occasional stock picks - you can be in and out within a few days and make a tidy profit, if you know what to look for.
For example, this won't be huge, but it'll be a reasonable boost. Rio Tinto when the market opens. (I know it's a bit last minute, and too late to invest now)
Rio Tinto plc: LON:RIO quotes & news - Google Finance
Buy some every month. Dollar cost average.
[ame=http://www.youtube.com/watch?v=pG2YzqdjvBw]Marc Faber - Buy Gold Every Month, Forever! (4-Mar-10)(SURVIVING THE NWO SERIES - Economics) - YouTube[/ame]
I never invest in stocks tho. I like having a lotof money saved up, but I mean it's just sitting there and probably losing value as the dollar declines. I was thinking investing 15k in silver/gold. If they went back to 200 prices I'd probably lose like 7k. Which I could handle, but I see that occurring as highly unlikely
You never invest in Gold/Silver either
(I assume) Never too late to start. The stock I picked will probably go up 5% at a minimum tomorrow, and that was a spur of the moment pick to demonstrate a point, found in under 5 minutes. If you looked harder, I'm sure you could find better earners. Gold, on the other hand has gone up 1% a day over the past month, and personally, I'd say it's more risky. Many very smart people never thought the housing market would have such a huge crash, and recommended it in a similar way to how gold's being recommended now.
His do you find a stock in 5the minutes and assume it will go up 5%? That's where im clueless.
I did invest in silver before when it shot up to 50$ but sold too late. But I was in it to make a quick buck. Now im looking at gold silver as a way to retain the value of my money. If I make more that's awesome, but im more worried about my 15k losing its buying power
I did invest in silver before when it shot up to 50$ but sold too late. But I was in it to make a quick buck. Now im looking at gold silver as a way to retain the value of my money. If I make more that's awesome, but im more worried about my 15k losing its buying power
I did it the rookie way to be honest, just searching for a few stocks and seeing what the news is, since at the moment I can't invest in them, since I'm not 18 (I'll be able to in a fortnight though). The best way if you were doing it more regularly would be to create a virtual portfolio, on somewhere like Google. Personally, I'd go for the mining c^%ompanies, since they're most likely to have the big increases in a day (Partly because of things like finding new oil reserves). Google picks up any news about stocks and displays them, and I believe you can set it to email you, too.
I'd be worried about investing too long term in gold/silver, to be honest. While I was happy to recommend silver a year ago, I think it's starting to bubble. While it's possible the bubble could expand further, I think that's a pretty risky way to invest.
I'd recommend reading Beating the Street, by Peter Lynch, it's really good for starting you off.
Personally, I only look locally for silver/gold/coins and buy deals when I see them. Last week I bought my largest lot of silver & old coins yet, my average cost on pre-64 US silver was around $6 per ounce.
Deals are out there if you know where to look , but I only buy when it's favorable to me. I've met too many people who jumped on the silver train to the moon @$48/oz and are still hurting. Sure it's short term, but if silver dropped to $30 tomorrow, I wouldn't shed a single tear, many out there would though.
Deals are out there if you know where to look , but I only buy when it's favorable to me. I've met too many people who jumped on the silver train to the moon @$48/oz and are still hurting. Sure it's short term, but if silver dropped to $30 tomorrow, I wouldn't shed a single tear, many out there would though.