Price of Gold and Silver on the move up.

Discussion in 'The BS Topic' started by 1970 gold, Jul 29, 2020.

  1. 1970 gold

    1970 gold Veteran Member

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    Printing all that money and gold and silver on the move up.
     
  2. Da-bigguy

    Da-bigguy Veteran Member Lifetime Gold Member

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    I've heard gold has hit an all time high.
     
  3. The Champ

    The Champ Veteran Member

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    We had a brief crash in the stock market in the first quarter. The late night TV ads immediately started running ads to promote investing in gold.

    There were some people that have been taking money out of the market (cementing their losses) and investing in gold which has fueled the temporary rise in the gold market. Now is the time to sell gold, not buy it. But obviously people are still buying it.

    I don't recommend late night TV ads as a source of financial advice (look at what else they advertise there - reverse mortgages, call JG Wenworth 877 Cash Now, Colonial Penn Life Insurance - guaranteed issue - no health questions for $9.99 per month - in the fineprint - no death benefit for the first 2 years)...

    Remember the recession back a little over 10 years ago? Look what happened to the gold price then - they shot up and then crashed.

    [​IMG]
     
  4. badazz81z28

    badazz81z28 Veteran Member

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    Don't buy gold...buy a gun...thats what youll really need if the economy crumbles. lol
     
  5. Jimmac

    Jimmac Veteran Member

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    I have a problem with tools, guns, and silver. tend to buy but never sell. I started saving every silver coin I got in change since I was a kid in the 70s. Should have sold when it hit nearly 50 a ounce but I kept collecting. a few years ago when prices tanked, I bought rolls of walking liberty and Franklin halves, silver eagles and silver dollars. Probably should sell now, but i just like old coins. Makes no sense, keep a few, get sell the rest for a profit, but just can't bring myself to sell. jim
     
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  6. 1980RS

    1980RS Veteran Member

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    My son is like that, but he says look at the charts and it's an ever increasing curve. The lows are higher than they used to be. I should have bought gold when it was $256 oz. back in 2000 but listened to my wife and did not buy, never do that again she knows nothing about money.
     
  7. danbrennan

    danbrennan Veteran Member Lifetime Gold Member

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    I'm exactly the same way :) I figure every pirate needs a stash of treasure :)
     
  8. tom3

    tom3 Veteran Member

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    Ever notice how easy it is to buy gold and silver, but where do you actually sell it for the current full price? I don't know other than Ebay?
     
  9. 1980RS

    1980RS Veteran Member

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    I would never sell any metals on feebay. We have the gold guys up here and in the last gold frenzy they were paying spot and a half for it, they will do it again if they think there is more in the market. My wife sold all her scrap gold back then and made a lot of bucks.
     
  10. badazz81z28

    badazz81z28 Veteran Member

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    That’s what’s funny...you can never sell it for market price...investing in precious metals has to be the long haul.
     

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