Has the gold rush come to an end ?

[Hum]

NEW YORK (AP) -- When the price of gold plunged $200 last month, many people thought they caught the sound of the gold bubble popping.

What Peter Schiff, the CEO of brokerage Euro Pacific Precious Metals believes he heard was a stampede of fair-weather speculators fleeing the precious metal.

Schiff and other champions of gold weren't shaken by the plunge. To them it was just a short breather in preparation for another long climb.

All the reasons they give for buying gold haven't changed: Gold remains a refuge from disaster, they say, arguing that a steep drop in the dollar and a spike in the price of consumer goods are a threat.

For speculators, buying gold was simply a way to profit from its popularity.

"That's what happens in a bull market," Schiff says. "The selloffs shake out the Johnny-come-latelies. It's healthy. Now we can have a real rally."

Gold, often touted as the most trustworthy of investments, has looked wild over the past month. After starting April above $1,600 an ounce, it dropped below $1,361 on April 15 and has steadily recovered to settle at $1,436 on Friday.

Gold was supposed to be a haven from turmoil. When the housing market started cracking and the stock market sank in 2007, the price of gold began to surge. Over the next two years, it soared from around $600 an ounce to nearly $900 in the depths of the financial crisis in late 2008.

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[Growled Member]

I wouldn't be afraid to invest in gold. It's one of those things that will only climb with time.

[neufuse Veteran]

I wouldn't be afraid to invest in gold. It's one of those things that will only climb with time.

You can invest in gold all you want, but what happens if the Gov decides to seize all the gold again? Already happened once under Presidential Executive Order number 6102 in 1933... they could find a new reason to do it all over again if they really wanted to... the basis of the act was to stop the hoarding of gold during the economic depression... sure we aren't on a gold standard now, but you know the gov could come up with a reason to seize gold... and it's pretty easy if its held in a "safe" location for you... like your investment firm...

[Ph1b3r0pt1c]

I wouldn't be afraid to invest in gold. It's one of those things that will only climb with time.

As does silver. I have started buying silver blanks for retirement instead of stashing $$. they will be worth SOMETHING even if the dollar isnt.

[Hum]

:laugh: I want to see William Devane's new commercial:

I'm William Devane, and

I Lost my ass buying Gold !

[neufuse Veteran]

:laugh: I want to see William Devane's new commercial:

I'm William Devane, and

I Lost my ass buying Gold !

my ideals for anything sold on tv... it's a scheme to milk you... the companies selling gold and silver know the more they sell the more the price goes up, so push push push and instill fear into the message to make the hoard of gold they have increase in value, oh and tack on some fees for storing your gold for you if you don't take delivery of it, oh and add on some broker fees and other stuff to get that fear we instilled "secured" in their interests...

[Buttus]

someone will always want gold and silver. can't say the same thing about our paper money...

[moloko]

You can invest in gold all you want, but what happens if the Gov decides to seize all the gold again? Already happened once under Presidential Executive Order number 6102 in 1933... they could find a new reason to do it all over again if they really wanted to... the basis of the act was to stop the hoarding of gold during the economic depression... sure we aren't on a gold standard now, but you know the gov could come up with a reason to seize gold... and it's pretty easy if its held in a "safe" location for you... like your investment firm...

Take it out of the country. I keep mine in the thailand.

As does silver. I have started buying silver blanks for retirement instead of stashing $$. they will be worth SOMETHING even if the dollar isnt.

I have several bars of gold and silver now.

[Growled Member]

You can invest in gold all you want, but what happens if the Gov decides to seize all the gold again? Already happened once under Presidential Executive Order number 6102 in 1933... they could find a new reason to do it all over again if they really wanted to... the basis of the act was to stop the hoarding of gold during the economic depression... sure we aren't on a gold standard now, but you know the gov could come up with a reason to seize gold... and it's pretty easy if its held in a "safe" location for you... like your investment firm...

True. You can't plan for everything and that includes our government acting like idiots again. But like moloko said, keep it out of the country.

[neufuse Veteran]

Take it out of the country. I keep mine in the thailand.

and what stops another country from seizing foreigners gold? problem is a country could in theory seize anything so no mater where it is, good luck... unless you burry it in the ground where no one will find it, then hold onto it until the seizure period is over...

[Jason S. Global Moderator]

True. You can't plan for everything and that includes our government acting like idiots again. But like moloko said, keep it out of the country.

i know well of the gold confiscation act of 1933, and know it can easily happen again. That being said, i doubt metal would be any safer outside the country either. The govt would just find record of the transfer or storage. The govt would threaten the overseas banks and force them to turn over the records.

That being said, investing in metal is still a good idea. I'd much rather have a tangible substance than a worthless piece of paper currency.

Also, historically, metal prices fall as the stock market rises and/or the value of the dollar changes. Stocks are clearly in a gigantic bubble right now. This same thing happened prior to the crash in 2008.

[Hum]

and what stops another country from seizing foreigners' gold? problem is a country could in theory seize anything so no mater where it is, good luck... unless you bury it in the ground where no one will find it, then hold onto it until the seizure period is over...

I guess the pirates at Oak Island had the best idea. :laugh:

[BillyJack]

I like to invest in tagible items too. I think water will be worth a lot some day so I am stocking up on water. If I wait long enough it will be worth more than gold.

[moloko]

and what stops another country from seizing foreigners gold? problem is a country could in theory seize anything so no mater where it is, good luck... unless you burry it in the ground where no one will find it, then hold onto it until the seizure period is over...

no way they gonna find it there. it not in a bank. its in a personal residence. King would never steal from him people.

[neufuse Veteran]

no way they gonna find it there. it not in a bank. its in a personal residence. King would never steal from him people.

Never say never...

[Growled Member]

I like to invest in tagible items too. I think water will be worth a lot some day so I am stocking up on water. If I wait long enough it will be worth more than gold.

Maybe one day, but how long do you think it will be before it's worth something? Will we see it during our lifetime?

[BillyJack]

Maybe one day, but how long do you think it will be before it's worth something? Will we see it during our lifetime?

I was only joking but it will be true someday. I think it is possible during our life time or our kids. Water is getting more poluted everyday as we put high demands on this earth. Chemicals from factories, farming, residential neighborhoods, street runoff, mining, oil, fracing for natural gas. Despite these problems the demand for water keeps rising. Sure we can clean the water but that takes energy and that is becoming a problem too. With iceburgs breaking off all the time you think a company would start up and harvest the rogue iceburg and store it somewhere to be sold and used.

[Hum]

I like to invest in tagible items too. I think water will be worth a lot some day so I am stocking up on water. If I wait long enough it will be worth more than gold.

I believe the Bush family is doing this in South America. :laugh:

http://www.squidoo.com/water-privatization

[Growled Member]

^ Maybe we should buy in now, before it's too late.

[redvamp128]

I know there are still gold out there it just has to be found... Not to mention just think about how the old way they processed for gold in the past didn't catch all the gold.

[thomastmc]

You know what they say about putting all of your eggs in one basket...

If you believe anything is a sure bet, you're na?ve.

Besides that, gold is being used at a profit center for those who prey on the fears of the lesser intelligent, i.e. Glenn Beck, Alex Jones, George Noory, etc.

[+LogicalApex MVC]

I wouldn't be afraid to invest in gold. It's one of those things that will only climb with time.

If you're a smart investor you would know there is no such thing as a safe investment. All investments can, and do, drop in value. If anything, there is quite possibly a very large bubble in Gold that may burst soon. There has been a large amount of Gold hording by people who irrationally believe it is some sort of safe haven (it isn't).