Posted on 02/11/2009 7:37:53 PM PST by TigerLikesRooster
“I want to believe Gold Bugs sometimes, but I haven’t seen them be right yet.”
I’m a Gold Bug. I’m doing it. It took 10 years, but I’ve greatly grown my original investment. Bought physical gold & silver with my inheritance $ from Grandpa.
Of course, this doesn’t help people today when what I could buy for a hundred bucks then, is now close to a thousand bucks today. *SHRUG*
This was money that wasn’t ‘eating at my table’ as they say. I could afford this investment back then because I could cover all of my other everyday bills, and I’m a saver, not a spender. Being disciplined and patient helps, too!
“In the absence of demand for physical”
Are you suggesting that people are not demanding physical gold?
Yes.
Historically.
For years, the vast majority of the market was bank-to-bank, institutional type stuff.
So they were able to say “Look, we settled this contract for X dollars so that’s the price...”
Now, alot of people want the real thing, not the paper thing. And that’s a whole different ball game.
Yes. I would say the demand for physical gold is at an all time high
I think gold is getting ready to tank big time. It reached a double high twice today. One at $970/ozT, and another shortly after that at $973/ozT. Indian jewelers cannot sell gold , and the bottom has fallen out of sales in Saudi country. After the correction, gold could sell for $650 or anywhere in between.
Gee, your investment hunches were completely wrong.
Gold didn’t tank, it’s up another 1/3 since you wrote this.
What are you investing in now? I might want to short it.
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