Gold price

[Johny]

hi what is happening with the gold price? will it continue to fall? any predictions for the next few months?

[salty_snack]

If gld takes out 111 then yes.

[azguy]

Gold was driven by fear, greed, speculators and unprecedented fed liquidity. The party is over.

I agree with Salty if GLD breaks 111, the next stop is 100 or $1,000 an ounce

[Lgear080]

I see it falling under $1.1 in the next 90-120 days.

[accce]

Originally Posted by salty_snack

If gld takes out 111 then yes.

What?

[Johny]

great information guys. thank you.

[bayerische]

I think it will fall.

[Lion]

Gold Prices should Fall to close to $1100.00 USD per ounce by years end and then will begin to climb in January 2014. Silver will follow and Fall to a Low of $16.00 USD and begin its upswing also in January 2014.......

[69mach351]

I am keeping my eye peeled. I make my money off of carbon, stainless and aluminum, but enjoy gold and silver.

[gmh1013]

The party is over and the gold bubble burst....I think it will drop below 1k unless some geopolitical fallout happens somewhere and drives it back up short term

[ARTISAN]

I see it going to 1050 .... and that would be the time to get back on the train.............. but come end of 2014,, I see it back towards 1300 -1350.

[stockjock1975]

So, when it eventually becomes time to buy gold again(attractively valued, etc), what is the best way to participate? I would prefer to own physical bullion instead of the miners or vehicles such as ETFs or funds. What is the most cost effective way to buy physical gold? Do you buy at the spot price, or is there a bid/ask spread like with stocks? Any tips would be appreciated.

[cedargrove]

Originally Posted by stockjock1975

So, when it eventually becomes time to buy gold again(attractively valued, etc), what is the best way to participate? I would prefer to own physical bullion instead of the miners or vehicles such as ETFs or funds. What is the most cost effective way to buy physical gold? Do you buy at the spot price, or is there a bid/ask spread like with stocks? Any tips would be appreciated.

Personally I prefer to physically hold bullion but store in secure, off-site, accessible location. I don't have any now but will watch prices closely.

I can buy one ounce coins, or one to ten ounce bars for 2%-4% above spot. Smaller denominations are also available (i.e. 1/20th ounce) but the premium is much higher. Premium covers cost to process into smaller denominations (below 100ozt), and dealer costs.

I like Canadian maples, American buffalos, Austrian philharmonics, and Australian gold nuggets (kangaroos) as these are all 9999 pure, easily sold, and are also interesting to look at. I also like 9999 bars minted in Canada or Australia.

I avoid on-line (although price is usually lower) but rather go to a reputable brick and mortar dealer. If buying under $10K I can give cash and avoid giving any personal information.

Edit: I am not a sophisticated buyer, so these are just my preferences

[salty_snack]

Originally Posted by stockjock1975

So, when it eventually becomes time to buy gold again(attractively valued, etc), what is the best way to participate? I would prefer to own physical bullion instead of the miners or vehicles such as ETFs or funds. What is the most cost effective way to buy physical gold? Do you buy at the spot price, or is there a bid/ask spread like with stocks? Any tips would be appreciated.

GLD, although not as exciting as bullion, is the easiest, cheapest, most liquid way to own gold. Unless you are looking to hold it for a long time I wouldn't consider the hassle of physical gold.

[77T]

Originally Posted by accce

What?

SPDR Gold Shares (GLD)
But ETFs are not equal to gold spot price - instead they are pegged to inflows and outflows. GLD also drops even when spot price rises - that's because holders can sell large blocks to move into something else.

[jvo300]

Originally Posted by stockjock1975

So, when it eventually becomes time to buy gold again(attractively valued, etc), what is the best way to participate? I would prefer to own physical bullion instead of the miners or vehicles such as ETFs or funds. What is the most cost effective way to buy physical gold? Do you buy at the spot price, or is there a bid/ask spread like with stocks? Any tips would be appreciated.

Gold Rolexes, of course!

[Trouble15]

I skimmed didn't read all the comments in this thread, but the latest inflation numbers were low suggesting it isn't something to be worried about (yet), only helping the sale of the gold commodity.

[stockjock1975]

Thanks for the ideas everyone!

[brandrea]

Originally Posted by jvo300

Gold Rolexes, of course!

[Pix]

I'm pretty sure in Dubai you can buy gold right out of a vending machine!

[kilyung]

Originally Posted by jvo300

Gold Rolexes, of course!

Exactly my thinking.

[Lion]

Personally, with Gold, I prefer, to take physical possession in the form of Bullion Gold Coins(such as 1/10 to 1 ounce of Gold in the coins) made by Countries who have a solid reputation or U.S. Gold Coins(by Denomination)which have a Monetary Value. With Numismatic Coins they have an Intrinsic Value(Bullion Value)as well as a Collector Value. But remember with Collector Coins you must invest your time in leaning how to Grade the coins because Condition effects it's value and thus it's price.....

I would not buy Bullion Bars because when you go to sell the prospective buyer will want to have them Assayed. Unless you sell them back to the dealer you bought them from and have a relationship with. And this takes time so Gold Bars are not as "Liquid" as Bullion or Numismatic Coins.....

As far as storage is concerned...you can keep them in a Safe Deposit Box in a Bank.....

Take care and good luck.....Leo

[GB-man]

As the stock market continued to chug along higher and higher, investors slowly but surely shifted assets out of gold and into stocks. The geopolitical scene has been relatively calm and inflation numbers suggest it is in check for now. Gold is a hedge against inflation, this when investors fear inflation is coming, they buy gold to combat the inflation.

I think gold is attractively priced however. If it does not blow through 111 and instead holds ground around 115 come January I may buy some gld.


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[HL65]

Originally Posted by kilyung

Exactly my thinking.

X2

[toph]

The production cost of gold is about $1100. Make of that what you will. It may drop short term but long term it will rise again.

[bayerische]

Originally Posted by toph

The production cost of gold is about $1100. Make of that what you will. It may drop short term but long term it will rise again.

But is it really, there's so much talk about production cost being at around 400 usd/oz?

[toph]

Originally Posted by bayerische

But is it really, there's so much talk about production cost being at around 400 usd/oz?

As far as I am aware. They are now needing to mine deeper and that costs more. Gold is not something I usually take a position on.. Maybe against currency but very rarely.
On another note most commodities are looking like they may start to struggle further. Markets are brEaking rEcords with no end in sight at the moment. It is what it is

[69mach351]

Originally Posted by stockjock1975

So, when it eventually becomes time to buy gold again(attractively valued, etc), what is the best way to participate? I would prefer to own physical bullion instead of the miners or vehicles such as ETFs or funds. What is the most cost effective way to buy physical gold? Do you buy at the spot price, or is there a bid/ask spread like with stocks? Any tips would be appreciated.

There are a lot of places to buy gold, silver, platinum, etc. You just have to be careful of where and when you do it. APMEX, Provident, Goldmart, Silvertowne, etc. Do your research on places. I have not heard of people getting burned, but some can take weeks to ship (GM was one, which can stress some people out), some have higher or lower premiums, shipping, or CC fees. I used to be on a precious metals board years ago and those were always some that got brought up a lot.

[SUBversive]

Gold and silver coins are nice to collect but a bad investment and a very bad investment to leave your kids. Reason being, it's very hard to easily offload say a silver coin for its true market value ... The other thing is once you make a sale greater than $600 you get a nice 1099. Hence I agree that if you want gold, buy a nice watch!

[skprd13]

Originally Posted by SteelerFan65

X2

Hmmm last time I looked Ken you were a platinum man!!! Or did you sell that beauty!