Gold

Discussion in 'The Back Room' started by Terry O'Keefe, Sep 29, 2010.

  1. Terry O'Keefe

    Terry O'Keefe Well-Known Member Administrator

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    Anybody increasing or adding Gold to their portfolio? I've seen a lot of chatter on not just buying Gold Stocks but actually taking possession of gold and silver bullion.

    Here's one way of getting some gold...other than having gold crowns made! :)

    A Gold Bar Dispensing ATM!!!

    [​IMG]


    Gold to Go
     
    Terry O'Keefe, Sep 29, 2010
    #1
  2. BuckeyeT

    BuckeyeT Well-Known Member

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    That has GOT to be a sure sign of a top in the price of gold if ever I've seen one......imho, it's a good thing for any portfolio with a long term horizon to have some exposure to commodities.....i.e., agricultural, metals both precious and industrial, natural resources, etc. Such exposure has been shown over time to reduce portfolio volatility without sacrificing growth......a good thing for diversification.

    I personally prefer a diversified index for such purposes and indeed in my IRA, I have a 5% exposure to a commodity etf - DBC - which is a "basket" of commodities.
     
    BuckeyeT, Sep 29, 2010
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  3. Terry O'Keefe

    Terry O'Keefe Well-Known Member Administrator

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    So no mini Fort Knox in your basement! 8)
     
    Terry O'Keefe, Sep 29, 2010
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  4. BuckeyeT

    BuckeyeT Well-Known Member

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    Jewelry yes, love the stuff. Investments, not for me. Never been a gold bug.....other than in small doses as part of a broader basket of commodities for diversification purposes. Just personal preference.....
     
    BuckeyeT, Sep 29, 2010
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  5. Tennessee Tom

    Tennessee Tom Well-Known Member Administrator

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    Any truth to the > $500 gold purchase generating a 1099 as part of the Obamacare package?
     
    Tennessee Tom, Sep 29, 2010
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  6. Cindy McCord

    Cindy McCord New Member

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    T
    I agree. :wink:
     
    Cindy McCord, Sep 29, 2010
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  7. Tennessee Tom

    Tennessee Tom Well-Known Member Administrator

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    Yes she does!!!!!
     
    Tennessee Tom, Sep 29, 2010
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  8. BuckeyeT

    BuckeyeT Well-Known Member

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    No surprise there.....I pegged her as a fine lady with impeccable tastes long ago..... :wink:
     
    BuckeyeT, Sep 29, 2010
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  9. JO'Co

    JO'Co Well-Known Member

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    :idea:
    I never buy gold. It's a place to hide money on a temporary basis, but it never actually increases in value. About 15 years ago, I read an article which stated that gold, when adjusted for inflation, was unchanged in value since 1803, when Thomas Jefferson was president...

    .........JO'Co
     
    JO'Co, Sep 29, 2010
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  10. Terry O'Keefe

    Terry O'Keefe Well-Known Member Administrator

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    Was it the Hunt brothers or the Bass boys who tried to corner the Silver market and lost their shirts?
     
    Terry O'Keefe, Sep 29, 2010
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  11. Sid

    Sid Well-Known Member

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    Hunt Brothers. I'll never forget. We had my wife's grandmother's silver appraised for in excess of $15,000 at the height of the run-up. And that was back in the late 70s.
     
    Sid, Sep 29, 2010
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  12. Terry O'Keefe

    Terry O'Keefe Well-Known Member Administrator

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    Gold
     
    Terry O'Keefe, Oct 5, 2010
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  13. BuckeyeT

    BuckeyeT Well-Known Member

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    It can be and is currently a strong safe haven play....I for one, am not in the armageddon camp and have always been concerned that the price has less to do with economic/financial fundamentals and more to do with government holdings/dispositions, hedge funds, dark pools and trading technicals which dominate price action.....not a game for lightweights like me, but as I have said has some value in a larger basket of commodities for diversification purposes.....just my opinion.
     
    BuckeyeT, Oct 5, 2010
    #13