NEW YORK (AP) — The rush for gold just keeps coming.
Gold hit another all-time high this week. Recent gains for the precious metal are largely credited to ongoing economic uncertainty, geopolitical tensions and strong demand from central banks around the world.
If trends continue, analysts have bullish outlooks on the price of gold for the months ahead. But the future is never promised. Here’s what you need to know.
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Spot price for gold at 6:45am today was $2680 according to JM Bullion.
I have a fair amount in gold and silver(literally in hand).
ReplyDeleteI bought as a inflation hedge,would rather NOT SEE huge upticks as it means finacial winds taking a turn for the worse.
I would also add being well prepped ect. before investing in metals,but,you have a few extra dollars might want to consider it for the long haul.
Gold and other precious metals are fine for emergency value storage IF you have physical custody, IF you can parse it out in small enough amounts for other things when needed, and IF you can protect it. The problem with gold in an end of the world scenario is that you can't eat it, you can't shoot it, and it makes you a target. As an investment it sucks. I'd be more inclined to buy and store ammo.
ReplyDeleteThat's why you buy in one, five or 10 gram pieces or 1/10 ounce coins.
DeleteAs far as it sucking as an investment, I wish like hell I still had all the gold I pulled out of the streams and rivers 40 years ago instead of immediately selling it at the $300-325 an ounce it was worth then.
I'm not sure how an end of the world scenario popped into this conversation, but trust me, if that situation arose I damned sure wouldn't be selling or trading a single round of my ammo - it has to last me the rest of my life.
You can't eat your home fire insurance policy, either. Gold is a financial hedge, not a survival supply.
DeleteThank you, you nailed it.
DeleteGold & Silver are insurance, a hedge against inflation.
ReplyDeleteBuy only physical PM's & take delivery, if you don't hold it, you don't own it.
You can't eat frn's either. Guns & ammo are a given.
Buy a bit of gold but if your thinking includes any sort of SHTF situation you will ALWAYS be better off with silver. Sure, its bulky in large quantities but pre-1965 US dimes, quarters and half-dollars are 90% silver and recognized by everyone. Right now silver is way under-valued or gold is way over-valued. The ratio is 84:1whereas historically it was always closer to 15:1. As always, YMMV
ReplyDelete^^^^^
ReplyDeleteExcellent Post!!