Originally posted by nj2day
Originally posted by redhatty
reply to post by Power_Semi
Took gold a little while then it started to go up too.
Be careful trading on that though, because when folks implode, the sell off their gold stores and the price drops hard
I second that! lol Gold is too high right now... The time for buying gold was before it went over 800/oz...
I just don't see gold being all that reliable for gains the next few months...
IMHO, if you were going to invest... wait until the market bottoms out completely...
then pick up major stocks for pennies... and wait for them to return to true-value...
I'd avoid metals... everyone who's been worried lately has already fled there, and the bottom could drop out at a moments notice..
I don't think it's quite that simple. If you think fiat is dead then gold or silver is a good bet. I have seen the value of my gold increase in GBP
by around 40% even though it's dollar value is around the same price now as when I bought it.
The problem is that major countries are effectively bankrupt & as such the currency is set for a major kicking.
I'm prepared to bet that gold is going to go significantly higher than it is now, whether you value it in Dollars, GBP, or anything else.
Picking up stocks for pennies sounds good in principle, but the economy is so out of whack that a good number of companies are going to fail, and if
we get the inflation thats likely from rampant printing then you'll be needing more than pennies to buy anything.