Skool me about gold.

[ferniesnow]

I know absolutely nothing about buying, selling, or having gold. I looked at some coins and some wafers on the banks website.
Do I assume that prices are generally competitive among the sellers?
How do I transfer gold into money/bills?
Is the presumed war going to raise the price?
The last 6 months, gold seemed a little volatile to me. Is that a fair assumption?
A good discussion without COVID interference would be great. TIA

 

[lilduke]

It has its ups and down, not really that volatile compared to crypto and stocks imo

To transfer back into cash, you have to find a buyer.

Could be a dealer or private sale.

 

[mclean]

With gold being at an all time high, would it even be worth grabbing some? I suppose it is more stable than the market but still

 

[Summitric]

The price of gold/silver always jumps during wars...

 

[lilduke]

With gold being at an all time high, would it even be worth grabbing some? I suppose it is more stable than the market but still

It will go higher, how long you want to wait though?

Think of Gold like an insurance policy, you arent necessarily trying to collect on it. Its there if you need it.

Stock market crashes, so will gold.

If the economy collapsed after the dust settles gold will still be worth something

Cash probably not.

 

[mclean]

I wonder if pano-dude will let me keep a kilo of gold in his safe

 

[lilduke]

If i was looking to get a kilo of Gold right now i might just get my hands on a Rolex Daytona.

A lil funner to own, and probably get better appreciation as well.

 

[Rhodesie]

ask parker, not todd hoffman.

 

[bjd68]

Ive been buying gold and silver one ounce maple leafs for the last couple years, find a good dealer near yourself and compare mark ups because some are more than others, I believe its good to have some coins just as a insurance policy and if u want play gold and silver with some leverage than invest in the gold and silvers miners which relative to gold and silver are sitting at there lows compared to the price of gold.

 

[pano-dude]

I wonder if pano-dude will let me keep a kilo of gold in his safe

For a fee I might

 

[broke'n'nuts]

I think of it as a fail safe. Little bit of gold and silver stashed will be the only currency IF sh$t hits the fan. Crypto may be great, but guess what, if there is no power your digital wallet is as useful as an unloaded firearm. It's not an investment to me, it's a hedge against......whatever. there is a couple online sites to buy from, or most banks will bring it in. When I first started watching gold in 1998 it was around 254$ an ounce. Buy some silver while you're at it. Easier to trade vs using gold and trying to get some change back

 

[JayT]

Gold and silver tend to keep the same relative value throughout history. Gold never really appreciates in value, our fiat currency just loses its value in relation to gold. Technically gold and silver should be higher, especially silver but it's being extremely manipulated by the paper Market. One ounce of silver has generally been worth a day's labour throughout history, so that gives you an idea of how much higher it should be right now versus what our currency is worth. One ounce of gold has generally bought a really nice suit throughout history, but again it's manipulated down. I agree buy a mix of gold and silver coins, silver would be easier to barter with and unload if all other currencies fail, because it's value is much lower for the same amount of metal. Precious metals generally will not make you much money they will just hold your wealth for you if everything else was to crash. As far as I know gold and silver have been the only currency to last over five thousand years, I see no reason why that won't continue.

 

[RGM]

If i was looking to get a kilo of Gold right now i might just get my hands on a Rolex Daytona.

A lil funner to own, and probably get better appreciation as well.

lol you can buy one at walmart!

 

[lilduke]

lol you can buy one at walmart!

Maybe a fake. A real one is 75,000$

 

[Summitric]

Maybe a fake. A real one is 75,000$

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[Summitric]

Maybe a fake. A real one is 75,000$

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[lilduke]

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www.authenticwatches.com

RolexCosmograph Daytona Diamond Dial Watch 116503-0011​

Was:$40,995.00
Sale Price:
39,995.00
Availability
In Stock - Deal of the Week
Condition
New
Reference #:
116503-BLKD

Quantity:
Add To Cart
Want it delivered Tuesday, March 1?
70 hours 16 minutes 36 seconds

I meant for a gold one. This is the gold thread.


The msrp is 40g they sell for a lot higher.

 

[lilduke]

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[lilduke]

My point was if you are looking for hard assets, there is other options than gold or silver.

Could be a exotic car too. Could be a lot of different stuff.

Gold is nice because a small amount weight wise= a lot of money.

Rolex or patek phillip ext pick your poison is similar in that it is small and worth a lot any where in the world. And Might be easier to get a watch out of the country than a brick of gold...

 

[ferniesnow]

Doesn't look good for the pricing.
The World Bank predicts the price of gold to decrease to $1,740/oz in 2021 from an average of $1,775/oz in 2020. In the next 10 years, the gold price is expected to decrease to $1,400/oz by 2030.