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What is the best way to take advantage of the gold market?

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posted on Aug, 10 2011 @ 02:57 PM
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I know there are older threads on this, but this is a call to all ATS investing experts.

I dont know a ton about investing in gold....what is the best way to do so, given the current economic situation?

Thanks in advance...




posted on Aug, 10 2011 @ 03:03 PM
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reply to post by amongus
 
Buy low, sell high.... right?

Well, if you buy gold with paper currency when the price is low, the paper currency that you get when you sell high is not worth as much, per unit of currency as when you bought the gold, something you have to factor into the equation. If everything goes to pot, the gold isn't really worth much to you at all.



posted on Aug, 10 2011 @ 03:09 PM
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Originally posted by butcherguy
reply to post by amongus
 
Buy low, sell high.... right?

Well, if you buy gold with paper currency when the price is low, the paper currency that you get when you sell high is not worth as much, per unit of currency as when you bought the gold, something you have to factor into the equation. If everything goes to pot, the gold isn't really worth much to you at all.



Thank you!

My more defined question is, what is the best outlet to invest in gold, and what is the process?

I know this sounds elementary, but Im trying my best to learn.



posted on Aug, 10 2011 @ 03:16 PM
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I wouldnt buy it and consider it an investment. I'd treat it as a long term storage medium for your wealth.

If you think the stock market will be down a long time in a depression get into cash and save.

If you think the currency will be debased and eventually be replaced by a gold backed new reserve currency buy gold to retain wealth in the transfer.

If you think society will collapse altogether buy supplies/weapons, silver for small trades and form strong community bonds.


If you try and make short term speculative gains on gold/silver you may lose out badly. Thats my take on it.



posted on Aug, 10 2011 @ 03:16 PM
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if you have the cash go to a coin store and buy american gold eagles. you will pay spot +1% but you will have it in your hand. If you buy the paper gold its worthless. you dont own it if you dont have it in your hand.

Silver is also a very good investment. silver has out performed gold this year and continue too. I own mostly silver.



posted on Aug, 10 2011 @ 03:18 PM
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I personally wouldn't buy gold at all especially at 1800 an ounce or whatever its at now.
I can't smoke, drink or eat gold so i'll skip.



posted on Aug, 10 2011 @ 03:19 PM
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OTC gold and silver have been protracted



As a result of the Dodd-Frank Act enacted by US Congress, a new regulation prohibiting US residents from trading over the counter precious metals, including gold and silver, will go into effect on Friday, July 15, 2011. In conjunction with this new regulation, FOREX.com must discontinue metals trading for US residents on Friday, July 15, 2011 at the close of trading at 5pm ET. As a result, all open metals positions must be closed by July 15, 2011 at 5pm ET. We encourage you to wind down your trading activity in these products over the next month in anticipation of the new rule, as any open XAU or XAG positions that remain open prior to July 15, 2011 at approximately 5:00 pm ET will be automatically liquidated.”


That quote came from this link, and has quite a bit of info about the techs and specs concerning gold and silver trading. That being said, gold is a highly manipulated commodity just as diamonds are. Most of the diamonds are in vaults and kept in mines in order to exploit scarcity.



posted on Aug, 10 2011 @ 03:20 PM
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Originally posted by PaulMcCartney
I personally wouldn't buy gold at all especially at 1800 an ounce or whatever its at now.
I can't smoke, drink or eat gold so i'll skip.


you cant smoke, eat or drink fiat paper money, well i guess you can smoke it, yet you still hold on to it like its worth something?



posted on Aug, 10 2011 @ 03:22 PM
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Get in a time machine and buy it about 2 years ago before the price really began to skyrocket.



posted on Aug, 10 2011 @ 03:25 PM
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reply to post by amongus
 


I would suggest you to buy silver instead of gold. In my honest opinion silver hasn't reach a peak high and is related in someway to gold. When economy goes messy, gold and silver may soar. This is not absolute, but history have shown us it is one of the good signs to count in.

My point is that honestly, gold is way too high right now and it's volatility ( going up and down ) is way too much unpredictable right now. Silver actually is much more reliable than gold because it cost much less (39$ an ounce instead of 1788 ... $ an ounce) and may eventually go up as time goes by in my opinion.

The best way I could suggest would be to get fully informed by yourself. Do some calls to dealers of silver and gold and get both side of the medal to make a clear choice. By doing this way you'll end up doing a choice by your own and will end up happy with it I am sure
.


Thruthseek3r



posted on Aug, 10 2011 @ 03:25 PM
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reply to post by camaro68ss
 


I can't stand paper money but i'm stuck with that and numbers on a computer for my wealth. That's if I want to go buy 2 hotdogs and a Monster at the local gas station.



posted on Aug, 10 2011 @ 03:31 PM
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reply to post by thruthseek3r
 


Silver demand is too closely tied to industrial consumption for use as “wealth preservation” during bad economic times. Gold is far better.



posted on Aug, 10 2011 @ 03:37 PM
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Step 1: Become a politician (either party).
Step 2: Invest heavily in gold, gold mining, and gold derivatives.
Step 3: Orchestrate a market collapse under the guise of deficit concern.

Worked for our congress!

In Gold They Trust



posted on Aug, 10 2011 @ 03:41 PM
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Originally posted by PaulMcCartney
I personally wouldn't buy gold at all especially at 1800 an ounce or whatever its at now.


The secret is this...

Wait until it is at 300 dollars an oz
BUY BUY BUY
sit on it until it is at where it is now.
and SELL SELL SELL

People buying gold now are the fools making
the people who bought it before rich...

All there is to it.

Now that will cost you an OZ of gold..
edit on 10-8-2011 by hillynilly because: (no reason given)



posted on Aug, 10 2011 @ 03:45 PM
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reply to post by SirMike
 


Which will go up and rise. I say silver is better than gold because I think the ratio will go up much farther than it is right now but that is my personal opinion.



posted on Aug, 10 2011 @ 03:49 PM
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Originally posted by thruthseek3r
reply to post by SirMike
 


Which will go up and rise. I say silver is better than gold because I think the ratio will go up much farther than it is right now but that is my personal opinion.


Only a fool would invest in GOLD now AT THE HIGHEST PRICE EVER..

Wait for it to drop in price.. BIG DROP.

The swindlers and snake oil salesman pushing gold now
are the ones who bought it then making money off...

If I owned gold of course I would be trying to get someone to buy it
at 1800 an oz



posted on Aug, 10 2011 @ 03:50 PM
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reply to post by hillynilly
 


Exactly and that is the reason why right now it is a bad move to buy gold. 1300$ an ounce was the time to buy it, even before this but right now, with this much volatility
it shouldn't even be considered



posted on Aug, 10 2011 @ 04:22 PM
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OP: I'll join the people suggesting silver over gold. Silver's historic prices have been more stable than gold. Back in the previous epic fail in America's history (the Carter Administration), gold skyrocketed far higher than it is right now when inflation is taken into consideration. When the bottom dropped out, a number of people were left with a very bad investment on their hands.


Originally posted by camaro68ss
you cant smoke, eat or drink fiat paper money, well i guess you can smoke it, yet you still hold on to it like its worth something?


This is because, under the present system, that fiat currency can be exchanged for goods and/or services. Most stores I conduct business at don't have a set of scales at the register by which to weigh out $50 worth of silver to pay for purchases.


The fiat currency argument really is meaningless in any discussion regarding spot "worth." Long term investment? OK, fiat currency is a big risk. Right here and now? If you feel that your fiat dollars have no worth, then I'd be more than happy to take them off your hands... gratis, of course.



posted on Aug, 10 2011 @ 04:28 PM
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Originally posted by thruthseek3r
reply to post by hillynilly
 


Exactly and that is the reason why right now it is a bad move to buy gold. 1300$ an ounce was the time to buy it, even before this but right now, with this much volatility
it shouldn't even be considered


Not even a consideration now correct..

OP save your money at this time..

Save the money your going to buy gold with until it drops
to at least 600$ an oz...
Buy what your going to buy,
sit on it.
Wait to sell it until you have doubled your money...

Same with houses, right now would be the time to buy up cheap houses and property (if you have any money).

housing prices are very low, gold is very high.



posted on Aug, 10 2011 @ 04:32 PM
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DON'T INVEST IN GOLD. the time to invest in gold was 10-15 years ago. notice how everyone telling you to invest in gold is selling it. gold is in a bubble triggered by fear. there can be no good outcome from investing in gold. either the market fixes itself, and gold goes down, or the market collapses and the value of gold plummets as necessities become scarce.

before the housing market collapsed people were told "buy a house now before you're locked out for good, the value of a home has never gone down!"

use your money to invest in guns, ammo, and food that will last.



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