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Dawood

Buying Gold and other investments

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is there any special reason you aren't all investing in oil companies? ethics aside ofcourse.

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if you adjust 950$ an ounce gold for monetary inflation that has taken place, gold is still CHEAP compared to the highs in the early 80's. although it sure would of been nice to of bought it cheap and stacked it deep in 02 or 03.

 

hell yeah

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Read today that gold broke to over $1000 per ounce... if you got in a week ago at around $958 you just made a little bit of change depending on initial overall investment. Props for money.

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does anybody know how to siphon gas out of other peoples gas tanks??

 

cause im sure getting as much free gas as you can and saving it for a rainy day would be a good investment.

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Investing now is too late. You are more likely to see loss, prices wont go up for ever. To see worthwhile returns, at over a grand an ounce, you would need to put up $10,000 minimum assuming prices continue to go up. Also have fun trying to sell that back. Im sure there are plenty of people willing to sell to you, but liquidating gold is a bitch. Gold, historically, has been a terrible investment.

 

But we are in a bull market...even so I do not suggest it.

 

If you are dying to invest, invest in the bond market. Its at least stable.

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Read today that gold broke to over $1000 per ounce... if you got in a week ago at around $958 you just made a little bit of change depending on initial overall investment. Props for money.

 

usually there's about a $35 spread, so if you got in at $958 and it just broke a G, there's not really any profit until after that $35 spread if you're dealing with gold dealers which is really the only way to buy/sell on the spot without having to look for a buyer.

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i just found out my dad has hella onces of gold in the bank...no wonder nigga just bought a brand new car and a house in Hawaii

 

 

 

 

 

 

 

 

 

 

He aint sharin any of his wealth...

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"Investing now is too late. You are more likely to see loss, prices wont go up for ever. To see worthwhile returns, at over a grand an ounce, you would need to put up $10,000 minimum assuming prices continue to go up. Also have fun trying to sell that back. Im sure there are plenty of people willing to sell to you, but liquidating gold is a bitch. Gold, historically, has been a terrible investment."

 

gold is not an 'investment' per se. while it is possible to 'make money' buying and selling gold, one generally chooses to hold gold to make a statement and to protect what you have.

gold has held the same purchasing power basically since it was adopted as money by the market.

 

once everyone is talking about something, like flipping houses, buying gold, it is usually time to sell out while you are ahead. if you buy gold, you should buy it to hedge inflation. holding gold is no different than stacking cash under your mattress. the only difference is, that gold will hold its purchasing power, where as the cash loses purchasing power. if you are buying gold now, one thing is for sure, you think the economy is headed for depression or crisis and that by holding gold it will allow you to keep some of your wealth to the other side of the crisis.

 

just remember what it is. it is money. it is not a stock that goes 'up' in value, it is a commodity chosen by the market and it still reigns the supreme sign of wealth. when the dollar goes down, gold essentially goes 'up.' but it is not really going up, the dollar is going down in regards to purchasing power.

 

if you bought lots of gold when it was cheap in terms of federal reserve notes, say 200$ an ounce... the general advice is to have a line in the sand. like 1000$ or 1500$ an ounce. then sell a percentage and put the money into tangible investments like land, or something that tends to hold its value.

 

there is no doubt gold will continue to 'go up' in terms of federal reserve notes. consider that in 1933 gold was 20$ an ounce. later it was changed to 35$ an ounce. today you need 1000$ federal reserve notes to buy that same ounce of gold. so if history is any indicator of future trends, there is one thing for sure... gold will continue to climb in terms of federal reserve notes and it indicates the inflation rate.

 

but one thing is for certain... no one ever went broke buying and holding gold.

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gold is too high to buy right now. alot of older folks ive talked to seem to think the gold bubble will burst soon and come down a bit in prices. then its time to swoop up on a couple ounces. its way better to have gold in the safetey deposit than paper with numbers on them.

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gold is too high to buy right now. alot of older folks ive talked to seem to think the gold bubble will burst soon and come down a bit in prices. then its time to swoop up on a couple ounces. its way better to have gold in the safetey deposit than paper with numbers on them.

 

lots of people think that 1000 or 1500 an ounce is a psychological high. the prediction is, as has happened in years past, was that once gold hits a certain point, people begin to sell out and it generally drives the prices back down. say this time it might get driven back down to 900 oz.

 

it all depends on your situation. gold is still relatively cheap adjusted for inflation. in 1980 gold peaked @ 850 OZ. adjust that for inflation, and todays 1000$ oz gold is still pretty 'cheap.'

 

if you have a portfolio that is worth about 50K, i'd damn sure have atleast 10% of that in gold right now and wouldnt hesitate to buy it right now, because i feel that the economy is not going to be any better any time soon. if a depression does come from this, as it looks like we might be on a slow countdown to one, i'd much rather have gold than a bunch of worthless stock certificates. people have been saying gold is 'to high' right now since it peaked 300$ an ounce during the housing bubbles formative years. then it hit 500$. everyone said it was too high. then 700$. 'too high.' now its 1000$. as long as the dollars value is in the gutter and the fed keeps inflating (generally. but they are deflating right now, ironically) gold will keep 'going up.' we are witnessing the demise of the dollar right now folks.

 

i'd much rather 'overpay' for that ounce of gold (they have been saying gold has been over valued since it hit 300$ an oz. ) to try to keep what i have during hard times. you will still be holding tangible money, not federal reserve currency.

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Gold Falls to Biggest Weekly Drop Since 1990 as Dollar Rebounds

 

By Pham-Duy Nguyen

 

March 20 (Bloomberg) -- Gold futures fell, capping the biggest weekly loss since 1990, as the dollar rallied and traders pared bets on future cuts in U.S. interest rates by the Federal Reserve.

 

Interest-rate futures show a 58 percent chance the Fed will cut borrowing costs by 50 basis points to 1.75 percent next month, compared with an 82 percent chance yesterday. The Fed has cut the overnight lending rate six times since September, when it was 5.25 percent. Gold reached a record $1,033.90 on March 17, before losing as much a $100 this week.

 

``Gold can thank the Fed and the dollar for this monstrous sell-off,'' said Matt Zeman, a metals trader at LaSalle Futures Group Inc. in Chicago. ``Right now, we are in no man's land.''

 

Gold futures for April delivery fell $25.30, or 2.7 percent, to $920 an ounce on the Comex division of the New York Mercantile Exchange. The price fell 8 percent this week, the biggest weekly drop for a most-active contract since August 1990.

 

Silver futures for May delivery fell $1.595, or 8.6 percent, to $16.85 an ounce on the Comex, dropping 18 percent for the week. Silver still is up 13 percent this year, while gold has gained 9.8 percent.

 

The dollar rose as much as 1.1 percent against a basket of six major currencies, reaching 72.922. On March 17, the index fell to 70.698, the lowest ever, according to Bloomberg data.

 

Six-Month Rally

 

Gold had rallied as much as 38 percent since the Fed began cutting the overnight lending rate on Sept. 18 as a housing slump and credit-market losses threatened to usher in a U.S. recession. The cuts sent the dollar to all-time lows against the euro and boosted the value of commodities that are priced in the U.S. currency.

 

Oil, soybeans, platinum and wheat futures all rose to records this year. Demand for precious metals soared as investors purchased gold and silver contracts to hedge against the declining dollar and commodity inflation.

 

The UBS Bloomberg Constant Maturity Commodity Index of 26 commodities fell as much as 3.3 percent to 1,384.485 today, after reaching a record 1,573.838 on Feb. 29.

 

``The psychology of the market has moved manifestly against gold,'' said Dennis Gartman, economist and editor of the Gartman Letter in Suffolk, Virginia. ``The dollar is strong. The other commodities are weak. That is putting downward pressure on gold.''

 

Holdings in the StreetTracks Gold Trust, the biggest exchange-traded fund backed by bullion, fell 2.3 percent yesterday to 648.8 metric tons from a record 663.8 tons reached on March 17.

 

Gold may drop to $850 before investors return, said Stuart Flerlage, who helps manage more than $600 million at NuWave Investment Corp. in New York.

 

`Cyclical Correction'

 

``This is a cyclical correction in a long-term secular market,'' Flerlage said. ``The fundamental underpinnings for gold remain the same. Gold has been a fiat currency play in the last five years as investors put money into gold to diversify away from dollar-denominated assets.''

 

Gold climbed 31 percent in 2007, the seventh straight annual gain and the most since 1979, when the price more than doubled. Gold broke the record of $873 set in 1980 on Jan. 8. This is the fourth weekly decline the metal has had this year.

 

``This is the correction we've long been expecting,'' said Adrian Day, president of Adrian Day's Asset Management in Annapolis, Maryland. ``It was triggered by buyer exhaustion. I would not sell and look to be a buyer again.''

 

Gartman, who sold half of his positions in gold yesterday, told clients today that gold may set fresh records by year-end.

 

``We are certain that sometime later this year, we shall see gold, and the grains and perhaps even the base metals trading materially higher than where they had traded earlier this week,'' Gartman said.

 

Platinum, Palladium

 

Platinum futures for April delivery dropped $9.70, or 0.5 percent, to $1,887.30 an ounce on the New York Mercantile Exchange. The metal fell 9.6 percent for the week.

 

Palladium futures for June delivery fell $18.40, or 4 percent, to $446.05 an ounce. The metal dropped 13 percent for the week.

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Whoever was talking about 600k for a small family home, really needs to take a look at what's going down in houston for 600k....

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shhh.

 

 

dont blow up the spot.

 

 

our cost of living/land is ridonculous compared to other cities of our size and population.

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damn im am really glad i didnt buy any bullion.

 

 

so, lately ive been hearing a few things.

 

1) invest in the INDIA hotel business. they are projected to make 25 million more this year than last year. the towel heads and hadjis are getting extremely rich off of the US, so we might as welll cash in.

 

2) the price of home developement has gone down. lumber and labor costs are very low, so it may be smarted to buy some land and buiuld a house than buy it. poesia what are your ideas on that shit? evbery day i drive by a small block that has been developed to fuck. at least 3 houses right near a very good public school, im sure each will sell for a million plus i think its one developer building the whole lot. talk about a come up.

 

 

 

I NEED MONEY.

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does anybody know how to siphon gas out of other peoples gas tanks??

 

cause im sure getting as much free gas as you can and saving it for a rainy day would be a good investment.

 

 

I know this a joke... but, depending ont eh gas tank, it can be quite difficult. Certain tanks now have all sorts of corners and openings to get through to get to the main tank, not any size hose will fit in there...

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damn im am really glad i didnt buy any bullion.

 

 

so, lately ive been hearing a few things.

 

1) invest in the INDIA hotel business. they are projected to make 25 million more this year than last year. the towel heads and hadjis are getting extremely rich off of the US, so we might as welll cash in.

 

2) the price of home developement has gone down. lumber and labor costs are very low, so it may be smarted to buy some land and buiuld a house than buy it. poesia what are your ideas on that shit? evbery day i drive by a small block that has been developed to fuck. at least 3 houses right near a very good public school, im sure each will sell for a million plus i think its one developer building the whole lot. talk about a come up.

 

 

 

I NEED MONEY.

 

The country that is really appealing to me right now for foreign investments is Dubai, it just seems like a great place and their economy is doing rather well compared tot he rest of the world. They plan to have the first fully "green" city, as well as the world tallest sky scraper. Cool stuff.

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