Although prices have been going up it is not too late to purchase gold or silver... the longer you wait the harder it will be, both cost wise and psychologically.
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All investment incurs risk..
you have to watch the trends carefully and be ready to act.
That being said, with nations buying huge volumes of gold and silver right now, it will be some time before any bubble bursts, especially if part of the world returns to a gold standard if all the buzz pans out... and silver is attached to gold. It does not even require a full return...security has always been placed in posession of gold...it is psychologically deeply rooted... and unlike paper the metal does have an intrinsic value, as does silver... it has real tangible use.
India has been purchasing huge huge volumes of gold, as well as china... I don't know about China but gold in India has huge value psychologically and India being nation working hard to climb out of its economic hole of long term poverty is hedging all its bets in the economy and gold is one way they are doing it. Their economy is destined to surpass us. They have very very smart people who are highly motivated with no welfare or workmans comp to fall upon.
All investment incurs risk..
you have to watch the trends carefully and be ready to act.
That being said, with nations buying huge volumes of gold and silver right now, it will be some time before any bubble bursts, especially if part of the world returns to a gold standard if all the buzz pans out... and silver is attached to gold. It does not even require a full return...security has always been placed in posession of gold...it is psychologically deeply rooted... and unlike paper the metal does have an intrinsic value, as does silver... it has real tangible use.
India has been purchasing huge huge volumes of gold, as well as china... I don't know about China but gold in India has huge value psychologically and India being nation working hard to climb out of its economic hole of long term poverty is hedging all its bets in the economy and gold is one way they are doing it. Their economy is destined to surpass us. They have very very smart people who are highly motivated with no welfare or workmans comp to fall upon.
One thing is for sure: Inflation is coming and it will be hitting hard. Another thing to be aware of is if you do not want to buy silver or gold, US nickels are the only coin worth their face value metal (actually they are worth about 5.5 cents at the moment) Just start saving your nickels.
Any decline in gold or silver prices will either be temporary (no matter how far they fall) or they fall due to china or someplace discovering a very rich mine which would increase supply greatly!
I heard that if you go to a bank and purchase ten rolls of dimes and ten of quarters you will likely find some silver coin in them.. Has anyone done this? Perhaps enough to bother with your time,,, if not you,,, a fun project for the kids.
I heard that if you go to a bank and purchase ten rolls of dimes and ten of quarters you will likely find some silver coin in them.. Has anyone done this? Perhaps enough to bother with your time,,, if not you,,, a fun project for the kids.
Probably not, especially not now. Too many people have been looking for them. Little known fact: You know those coinstar coin macines at the stores. In canada they had them rigged to seperate the older canadian nickels (pure nickel and magnetic) from the new ones (alumninum)
I predicted 2 years ago that gold would hit $2000 per ounce. At that time it was between $700-$800. Today it hit $1400 and will continue to rise as long as the Fed keeps printing paper money. This will drive the value of the dollar down, thus, gold will continue to rise.
It would not surprise me to see the price of gold rise to $3000 per ounce over the next 2 years..
As far as pennies are concerned, they are not worthless... They can be melted down to make bullets.
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I predicted 2 years ago that gold would hit $2000 per ounce. At that time it was between $700-$800. Today it hit $1400 and will continue to rise as long as the Fed keeps printing paper money. This will drive the value of the dollar down, thus, gold will continue to rise.
It would not surprise me to see the price of gold rise to $3000 per ounce over the next 2 years..
As far as pennies are concerned, they are not worthless... They can be melted down to make bullets.
The actual value of Gold is 3500 / oz using inflationary curves. But if they keep printing money, even much higher values are not unresonable.
Good Luck finding ANY coins of value from a bank these days.....even IF you get 1000 rolls of each!
It ain't gonna happen!
I'm just glad I got mine before all these price hikes.
I withdrew another 1K from my savings acct yesterday. At least I can give my kids & grandkids
their Xmas money for 2010 on Thanksgiving Day!
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Silver up to $29 an ounce today... it was 17.50 in February.
A guy by the name of Jim Turk in London said 2 weeks ago that in 18 business days silver will het 30/0Z. he has a tendancy to be spot on in his predictions.
Gold and Silver
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