Does Anyone Own Or is Currently Buying Gold Or Silver?

Never been a fan, (but know that in the past I've owned some shares in gold-related stocks), but my stepfather is convinced that a major crash is coming and recently bought a bunch of gold. He did well with it a few years ago and wants a hedge against a what he sees as a dangerous market environment.
 
We have some coins my husband bought many years ago, I think it's good to have some silver and gold on hand. Here's a pic of one coin.

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When you see precious metals being Hyped on TV, that is the time NOT to buy. I don't follow Gold, but I bought a bunch of Silver bars back in the early 1990's...after the boom/bust in the late 1980's, when the price was hovering in the 4 to 5 dollar range. I sat on them for years and sold out in 2011 at about $40....nice bonus. If the price dips below $10, I may get some more.
 
We have a gold fund that pays a decent dividend although it used to be even better until gold tanked about six or whatever years ago. Also physical gold and silver. My husband follows gold pretty closely and like Bob's stepfather, believes that a major crash is coming. Right now he's trading gold stocks (not the fund though) and when it dropped last week he bought a bunch and this week cashed them in for a nice profit of $3400.00. Not bad for work done in your 'jammies!
 
Don M. said:
When you see precious metals being Hyped on TV, that is the time NOT to buy. I don't follow Gold, but I bought a bunch of Silver bars back in the early 1990's...after the boom/bust in the late 1980's, when the price was hovering in the 4 to 5 dollar range. I sat on them for years and sold out in 2011 at about $40....nice bonus. If the price dips below $10, I may get some more.
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Quoted For Truth
 
Reviewed investments with my financial advisor on Monday and we do have some money invested in a gold ETF. It's part of an overall mix of alternative investments that form part of the total portfolio.
 
Well, buying precious metals is not for the faint of heart, but that's an old cliche, I know. I see one poster here has posted a picture of an 1881 Liberty Head silver dollar. I never indulged in buying coins for numismatic value. Here's the way that I was taught to buy precious metals. Always buy either by owning certificates. In other words, say you want to buy 50 oz. of silver or gold. You would call an investment banker, perhaps like Goldman-Sachs, who probably buys 400 oz. bars and buy your 50 oz. They would issue you a certificate and you would own 50 oz. of that gold bar. You would pay spot, plus their percentage for profit and handling the transaction. If you decide to buy the bullion, remember, you will pay sales tax. So, that means here in PA where the sales tax rate is 6%, I would already be 6% in the hole, plus GS's percentage for completing the transaction and their profit margin. Ditto for silver.

I have a friend that buys futures. Talk about risk. Not for me anymore, that's for sure.

I currently own some gold and silver certificates, but only as a hedge for any losses that I may incur in the markets. Right now, gold is having a nice little run, so I may sell a little off and reinvest it into another form of equity. Of course, we always have to be aware of paying capital gains, so that alone takes a slice out of our profits. I saw that Buffet bought a billion or so dollars of Apple not too long ago and it made me wonder, "what does he know or anticipate?" I did make a a good profit on Apple a few years back, but I just didn't own enough of it to say that I made a killing. People that bought Apple back in '09 or '10 at $88.00 and sold at 800 or 900 dollars really cleaned up.
 
oldman said:
Well, buying precious metals is not for the faint of heart, but that's an old cliche, .......

I currently own some gold and silver certificates, but only as a hedge for any losses that I may incur in the markets. Right now, gold is having a nice little run, so I may sell a little off and reinvest it into another form of equity. ...............
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So far with this Brexit vote, we made $11000.00 while we slept, on a gold fund that also gives an 8% distribution. And there are many of the top investors who are starting to turn to gold apparently. (My husband follows it pretty closely) New bull market on gold perchance? Some of them think so. Maybe it's time you gave it a second look?
 
We have some gold and silver that we inherited when my mother-in-law passed. She had it because she lived through WWII in Europe and knew times when that was the only way one could purchase necessities. We just hold onto it for that reason. We never know when we might be thrust into chaos and all our resources fail, worldwide. But now is not a good time to buy unless one is hugely wealthy and can play with the investors. We are in chaos because of speculators with large holdings. It's all b.s.
 
Lon said:
Been a lot of hype on TV about gold and silver. Whatcha think?
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Stay away from it. The upside potential vs the downside risk is not favorable, imo....it has no EPS, it's value is strictly at the crossroads of perception and reality , produces no income. I've had a lot of success shorting out of the money puts and calls on gold but it's a risky game. By shorting the options the buyer has to beat me on price , time, strike and volatility. That's not something the dice tossers can do with regularity.
 
Phoenix said:
We have some gold and silver that we inherited when my mother-in-law passed. She had it because she lived through WWII in Europe and knew times when that was the only way one could purchase necessities. We just hold onto it for that reason. We never know when we might be thrust into chaos and all our resources fail, worldwide. But now is not a good time to buy unless one is hugely wealthy and can play with the investors. We are in chaos because of speculators with large holdings. It's all b.s.
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Actually, many professional investors are starting to talk about this current run up as the beginning of a bull run for gold with forecasts so far being $1500 for gold and $30 for silver and over a longer term, much higher for both. And in this kind of climate, you don't have to be rich and buy gold itself although as a hedge in a political and financial climate of fear as we are seeing these days, its not a bad idea to have the physical, but you can also look at the various gold stocks which have been beaten down for so many years. Over the past year gold is up 17.63%. And trading the gold stocks, my husband is averaging about $700.00 a day over the past couple of months. Mind you, he's been following this pretty closely for the last ten years and he's developed a 'sense' for how it moves.

A good site to follow gold and silver and all the opinions is Kitco. ​http://www.kitco.com

And a further bonus is that in Canada we have Tax Free Savings Accounts which means that any gain that happens in those investment accounts is tax free. So guess where he's doing all his trading?
 
Back in the late 70's the big thing was purchasing 1 oz. gold Krugerrand coins and I bought several while working in Libya through my Swiss bank at the time and still have them.

Back then gold was about $210.00 per oz. so I've done alright on the investment, I just wish now that I'd bought a heck of a lot more of them.
 
i have been trading in and out of gld for 6 months now . so far so good but you never know when the tide will turn and gold will go back to its cave to sleep .
 

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