2006-11-11 20:56:40 · 8 answers · asked by binky 1 in Business & Finance ➔ Investing
i think so, the price of gold is starting to level off. and i do not think it will take a major drop anytime soon
gold and oil prices are hand in hand. since oil will prolly not go back to $50 a barrel, gold wont go back down
so, as Jim Cramer would say: buy buy buy buy buy
2006-11-11 23:22:57 · answer #1 · answered by Anonymous · 0⤊ 0⤋
And if I had to guess, Surajit is probably invested in equities - where they are near or above their all time highs. Yet, he fails to take into consideration "adjusting for inflation".
Gold just came off a 20+ year secular bear market. Sure, gold is near it's nominal highs, but about 75% below it's inflation adjusted highs. Add to that that the financial news coming out of the U.S. is not good. Gold is a store of wealth. It's protects your purchasing power. Also consider this, the Asian countries are contemplating diversifying out of dollars and dollar-denominated assets. If that happens the dollar will tank and inflation will roar in the U.S. How better to protect yourself than with gold.
Surajit thinks gold is going to go down. He's wrong, gold has made it's bottom from the drop from $733 oz. The final bottom should be in around Dec. 5, 2006. From there, this next leg up will take gold into the $800/oz. range and will most likely break above it's all time high of $850/oz.
Yes, now is a good time to buy gold while it's still cheap.
2006-11-13 01:45:30 · answer #2 · answered by 4XTrader 5 · 0⤊ 0⤋
I have never been a fan of buying gold. First, you have to pay some hefty fees to buy and to sell. Figure 3% per transaction. If you buy low and sell high, gold would have to go up 6% for you to break even.
About 25 years ago, gold was selling at about $800 per ounce. Accounting for inflation and no other increase in value, gold should be selling for $2,400 per ounce today.
Many people buy gold as a hedge against inflation or a hedge against an across the board drop in stock prices. Who can predict the future? Not I.
2006-11-11 21:12:03 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
For some top forecasts on gold’s direction, visit the site below:
I like the real GOLD nuggets.
As most gold is mined as very fine dust and tiny nuggets, the larger (over 1oz) nuggets are very rare! Actually they are as rare as large diamonds!
I would suggest you look into large nuggets!
To see the 'live' spot NY gold price and some museum size gold nuggets I suggest you visit a great site I found a few months ago. I purchase a few nuggets from them just about a month ago, and not only are they beautiful to look at but in just the last few weeks they have really moved up in value!
I'm actually saving to purchase others!
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2006-11-13 18:03:18 · answer #4 · answered by annbest711 3 · 0⤊ 0⤋
you will never make profit off of gold. It should be worth alot more than it is, but thats how it is i guess. It is a safe investment for protecting your money, but you wouldnt make any short term profits; i think you would have to wait about 20 years for that
2006-11-12 00:53:51 · answer #5 · answered by kram_7777 3 · 0⤊ 0⤋
not when the metal is trading at historical highs. It is never a good idea to buy when the market is trading near its highs--any market. This is the time to sell. Wait and you will see the prices will cool...that is the time to buy.
2006-11-11 20:59:33 · answer #6 · answered by surajit 2 · 0⤊ 0⤋
Here's a good link to watch gold http://www.kitco.com/charts/livegold.html
2006-11-12 01:34:28 · answer #7 · answered by Anonymous · 0⤊ 0⤋
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2006-11-12 04:35:51 · answer #8 · answered by dinu_pawar 5 · 0⤊ 0⤋