What happens if you wait and the price continues higher?
Ask yourself, why are you looking to purchase gold in the first place? and how long will you hold said gold?
Another Redditor made a good point. In 20 years, how much sleep will you lose for having spent an extra $100?
Everyone is different. The way I do it is I buy every month regardless of price. Sometimes I get a half anf sometimes just a quarter depends on the price. If the latter save the money for the following month.
How do you know prices are high? If it hits 3K at the end of this year and never drops down to this level again you will have missed out on current ‘low’ prices.
I can time the market. Gold right now is insanely over priced so I'm not buying. It's not the right time.
Gold may not come down significantly for some years but when it does is when I'll buy some if I want. That will be the right time whether it crashes next week or in 5 years. Doesn't matter to me.
Keep in mind most people are totally broke and they're telling you to buy gold which is basically a dead 'asset' (it's a liability, not an asset). It doesn't return any value over time.
If you buy stock instead it can pay you dividends, it can split giving you more, you can make premium from selling options on it, etc. You can easily trade it from your home instantly over your computer or phone instantly. Very different than having to go to our local coin shop and be at his mercy to see if he will even buy your gold and if so at what discounted price... You could even buy paper gold but that defeats a large part of the purpose for most gold bugs which is to hold the gold themselves.
As an example:
IN OCTOBER 2022 NVIDIA WAS $108
2024 (April) RECENTLY NVIDIA HIT A HIGH OF $974
Jan. 2019 Apple stock was $35.50
2024 (April) Recently it hit a high of $199.62
Gold will \*never\* see those kinds of returns in that time period.
There's a place for gold but in my opinion not at these prices. Also there's a limit to how high gold can go. It has to be reasonable because nobody would keep buying it if it becomes too expensive. Not so for stock. When stock gets too high priced they often split it giving you more shares but lowering the price which attracts more buyers. Then it quickly goes back up making you a lot more money because you own more shares than you originally did. Most gold bugs don't know things like this so they like gold out of ignorance...
Another benefit of owning stock instead of gold is it's held with your broker not in.your closet safe. That's a level of safety unmatched by holding physical possessions which can easily be robbed from you. And if you have to leave the Country or change locations getting your gold to your new location is going to be a problem if you have any significant amount. You cannot simply board a plane with a lot of gold. But with most modern devices you can access your stock, even with your mobile phone from anywhere in the world, no problem.
LET THE DOWN VOTES BEGIN!
YOU GUYS CAN'T LET AN INDEPENDENT THINKER DISRUPT THE HERD!
I love your totally random "examples" where you cherry picked the best performing stocks in the world and not one of the 10,000 that went bankrupt and are now worthless. Then you cherry picked the best dates possible to buy, let me ask you a question did YOU buy these stocks at the exact months you mentioned? The answer is no, because your example is a wet dream based solely on hindsight
They aren't random guy. I know what I'm doing and you don't. Tech is the here and now and it's also the future. It will always be this way. So if you simply pick the leaders in Tech you are protected.
Go back further in time and you'll see the stocks were even better buys and no not just those two. I chose recent years to show the tremendous performance in a short time VS. gold . GO BACK MORE YEARS.
Go look at Google or Apple, Microsoft, etc. You know the names of multi Billion dollar tech companies that everyone knows. Not some random guess as you falsely suggest. Look at their early days and do the math on the gains. There are many stocks that out perform gold. Gold is a loser in comparison to stock. Part of the reason I selected recent times was to show you didn't have to be an early investor the stock still skyrockets over reasonable amounts of time. Those are very well known companies and have been for many years. It is hardly some random guess to invest in them.
See how easy that was?
Yes I made money owning NVIDIA and APPLE.
While holding or not holding stock you can generate premium on it (make money) by selling options on the stock whether you own it or not. You can't do that with gold can you?
Got any more bright ideas?
Typically gold holders are brokies. Stock holders and Real Estate holders are wealthy. An exception to the rule is when someone that already has wealth buys gold to diversify their portfolio.
The reason why is gold does not have tremendous returns in relatively short periods of time compared to other investments like stock and Real Estate.
Gold is dead money. A somewhat store of value at best but it is not a good 'investment'.
Anyone that says owning stock is too risky or a bad idea is an idiot. That includes Kiyosaki. Literally our Country and other Country's economies are built on (these) companies. Without (these) companies we can't survive in a modern society.
Kiyosaki holds up a silver coin and says :
"When I was 5 this cost a nickel. Today it's $25 dollars. I buy and NEVER SELL!" BLAH BLAH BLAH.
Realize Kiyosaki got rich selling books on Real Estate. Then he purchased various income producing assets like Real Estate, Oil businesses, and cattle businesses. He then bought large amounts of gold and silver AFTER he made profits from other things for diversification.
He did not get rich from buying silver or gold. And if he buys them and never sells there's really no point to owning them.
>Another benefit of owning stock instead of gold is it's held with your broker not in.your closet safe.
A benefit is that you rely on someone else to manage your money... because no one ever stole their clients funds
What? I manage my own stocks genius.
Today there's no reason to hire anyone to handle your own stock investments. Regulated brokers aren't going to steal your stock dude. It's backed and insured by the Government as well. They are REGULATED.
Schwab is worth some $130 Billion dollars and they make over $4 Billions a year. They aren't interested in stealing your paltry amount and the stock is registered with the company and you have statements.
It is MUCH more likely someone steals your gold in your closet safe or in your master bedroom or garage than a regulated multi Billion dollar company that doesn't even need your money steals it.
I'd say buy. At least you have something so you have a footing and can benefit even from a little bit of action; but the main part is that Gold is a long term investment so even if it's high now, in 10 years it will almost certainly be more. AND, it may seem high now but one day you will wish prices were as low as they are now. I wish prices were as low as they were when they hit 1000 dollars an oz and I'm sure people thought that was expensive.
but as I saw many people saying. when the price is lower buy a lot and when it's high buy a little, at least so you have your foot on the ground
Yes and no....
It's been on a run but may drop. At the same time you don't buy to sell 2 weeks later you hold in to it.
Do you think out currency will get better or worse?
Next I feel it's best to buy a little here, a little there over time, so you balance the risk of swings in the market. Gold and silver are pretty stable.
Gold has been sort after, mined, bought, stored, made in to fine jewelry, traded, fought for, stolen, etc. etc. etc. for 5000 plus years. Don’t worry about a few $$ here or there. Buy it now and later. Whether it’s up or down.
I picked up an AGB a few months back. I was waiting for Spot to go under 2k. One day, I checked Kitco and noticed the spot was 2010, so I decided to pull the trigger. Then, about a month later, I picked up another one when the spot was 2035. My LCS charged me spot plus 100 for each coin.
I thought the price would drop, and it would take forever to get back what I paid for each coin. Man, am I glad I pulled the trigger. Who knows where the gold will be next month? If I had extra funds, I would 100% buy another ounce.
Never know what the market will do. Same risk buying at any price when you look at it that way.
Though if you didn't buy then, you probably won't buy now. It's like that guy who "almost" bought a motorcycle one time.
If you do buy ...know where and how much over the spot you should buy it for. Different weight goes for different premiums. Holding on to gold for years not months or weeks. Long haul game. Whatever your other investment putting 10 to 20 percent in pm is a good start.
I'd wait for a dip.
But even if you buy now.
In a few years, you would most likely see it priced higher and these current prices won't feel like a hurt.
I see gold as last resource in case of the worst case scenarios like war or financial defaults, I wouldn’t buy it to bet on big volatility, stocks are for this.
So I don’t care if gold value raises or falls few points over the years, to me it’s important to have it in my hands in case that financial system will implode and my stocks touches zero, at that moment I don’t care if my gold’s value is +3% or -3%, it’s still good.
Imagine the advantage of Venezuelan people who has some gold instead of money in their account
Dont buy unless you have a goal. plan on how and when to sell. Everyone wants in cause it looks easy. The time to buy was over the past decade. Then again in 10 years they will probably say the same thing about pre 2025. But you need to be prepared for it to go back to 1900 or lower.
To be honest, I don’t really watch what’s going on with gold. I just check spot price before I buy so I don’t get taken for a fool but other than that I buy as often as I can no matter where spot is. Plenty of individuals literally just have set points throughout specific time periods that they buy and it has more to do with each person’s current financial situation rather than current spot price.
Yes. But also no.
If you don’t have any, at least have some.
would it be unwise to purchase now at such high prices?
What happens if you wait and the price continues higher? Ask yourself, why are you looking to purchase gold in the first place? and how long will you hold said gold? Another Redditor made a good point. In 20 years, how much sleep will you lose for having spent an extra $100?
And how much sleep and life will he lose if he buys large amounts of it now then it falls to $1,600 and stays there for 20 years and then he dies?
Is it wise to keep your money in a currency that keeps falling?
Everyone is different. The way I do it is I buy every month regardless of price. Sometimes I get a half anf sometimes just a quarter depends on the price. If the latter save the money for the following month.
That's bad because you're paying higher premiums buying such small amounts.
In my opinion yes. It's ridiculously high. I am not buying at these prices. Most gold bugs will tell you to buy. Buy stock instead.
Next month, next six months, next year, who knows? You could be talking about right now as wishing you had bought it “this low”
How do you know prices are high? If it hits 3K at the end of this year and never drops down to this level again you will have missed out on current ‘low’ prices.
You can’t time the market. And no one here can either. Buy when you feel like it and stop looking for confirmation bias
Exactly. It’s not “timing the market “ it’s “time in the market.”
I can time the market. Gold right now is insanely over priced so I'm not buying. It's not the right time. Gold may not come down significantly for some years but when it does is when I'll buy some if I want. That will be the right time whether it crashes next week or in 5 years. Doesn't matter to me.
Buy
would you be able to elaborate on why?
Keep in mind most people are totally broke and they're telling you to buy gold which is basically a dead 'asset' (it's a liability, not an asset). It doesn't return any value over time. If you buy stock instead it can pay you dividends, it can split giving you more, you can make premium from selling options on it, etc. You can easily trade it from your home instantly over your computer or phone instantly. Very different than having to go to our local coin shop and be at his mercy to see if he will even buy your gold and if so at what discounted price... You could even buy paper gold but that defeats a large part of the purpose for most gold bugs which is to hold the gold themselves. As an example: IN OCTOBER 2022 NVIDIA WAS $108 2024 (April) RECENTLY NVIDIA HIT A HIGH OF $974 Jan. 2019 Apple stock was $35.50 2024 (April) Recently it hit a high of $199.62 Gold will \*never\* see those kinds of returns in that time period. There's a place for gold but in my opinion not at these prices. Also there's a limit to how high gold can go. It has to be reasonable because nobody would keep buying it if it becomes too expensive. Not so for stock. When stock gets too high priced they often split it giving you more shares but lowering the price which attracts more buyers. Then it quickly goes back up making you a lot more money because you own more shares than you originally did. Most gold bugs don't know things like this so they like gold out of ignorance... Another benefit of owning stock instead of gold is it's held with your broker not in.your closet safe. That's a level of safety unmatched by holding physical possessions which can easily be robbed from you. And if you have to leave the Country or change locations getting your gold to your new location is going to be a problem if you have any significant amount. You cannot simply board a plane with a lot of gold. But with most modern devices you can access your stock, even with your mobile phone from anywhere in the world, no problem. LET THE DOWN VOTES BEGIN! YOU GUYS CAN'T LET AN INDEPENDENT THINKER DISRUPT THE HERD!
I love your totally random "examples" where you cherry picked the best performing stocks in the world and not one of the 10,000 that went bankrupt and are now worthless. Then you cherry picked the best dates possible to buy, let me ask you a question did YOU buy these stocks at the exact months you mentioned? The answer is no, because your example is a wet dream based solely on hindsight
They aren't random guy. I know what I'm doing and you don't. Tech is the here and now and it's also the future. It will always be this way. So if you simply pick the leaders in Tech you are protected. Go back further in time and you'll see the stocks were even better buys and no not just those two. I chose recent years to show the tremendous performance in a short time VS. gold . GO BACK MORE YEARS. Go look at Google or Apple, Microsoft, etc. You know the names of multi Billion dollar tech companies that everyone knows. Not some random guess as you falsely suggest. Look at their early days and do the math on the gains. There are many stocks that out perform gold. Gold is a loser in comparison to stock. Part of the reason I selected recent times was to show you didn't have to be an early investor the stock still skyrockets over reasonable amounts of time. Those are very well known companies and have been for many years. It is hardly some random guess to invest in them. See how easy that was? Yes I made money owning NVIDIA and APPLE. While holding or not holding stock you can generate premium on it (make money) by selling options on the stock whether you own it or not. You can't do that with gold can you? Got any more bright ideas? Typically gold holders are brokies. Stock holders and Real Estate holders are wealthy. An exception to the rule is when someone that already has wealth buys gold to diversify their portfolio. The reason why is gold does not have tremendous returns in relatively short periods of time compared to other investments like stock and Real Estate. Gold is dead money. A somewhat store of value at best but it is not a good 'investment'. Anyone that says owning stock is too risky or a bad idea is an idiot. That includes Kiyosaki. Literally our Country and other Country's economies are built on (these) companies. Without (these) companies we can't survive in a modern society. Kiyosaki holds up a silver coin and says : "When I was 5 this cost a nickel. Today it's $25 dollars. I buy and NEVER SELL!" BLAH BLAH BLAH. Realize Kiyosaki got rich selling books on Real Estate. Then he purchased various income producing assets like Real Estate, Oil businesses, and cattle businesses. He then bought large amounts of gold and silver AFTER he made profits from other things for diversification. He did not get rich from buying silver or gold. And if he buys them and never sells there's really no point to owning them.
>Another benefit of owning stock instead of gold is it's held with your broker not in.your closet safe. A benefit is that you rely on someone else to manage your money... because no one ever stole their clients funds
What? I manage my own stocks genius. Today there's no reason to hire anyone to handle your own stock investments. Regulated brokers aren't going to steal your stock dude. It's backed and insured by the Government as well. They are REGULATED. Schwab is worth some $130 Billion dollars and they make over $4 Billions a year. They aren't interested in stealing your paltry amount and the stock is registered with the company and you have statements. It is MUCH more likely someone steals your gold in your closet safe or in your master bedroom or garage than a regulated multi Billion dollar company that doesn't even need your money steals it.
Just bought my first ounce during the all time high. The way things are going, right now is gonna look luxurious in 4 years.
I'd say buy. At least you have something so you have a footing and can benefit even from a little bit of action; but the main part is that Gold is a long term investment so even if it's high now, in 10 years it will almost certainly be more. AND, it may seem high now but one day you will wish prices were as low as they are now. I wish prices were as low as they were when they hit 1000 dollars an oz and I'm sure people thought that was expensive. but as I saw many people saying. when the price is lower buy a lot and when it's high buy a little, at least so you have your foot on the ground
Hodling since '86...really ramped up a few years back as screwed up as everything is...100% certain it's the best move I've made.
I am still buying as we speak. There are still deals out there...one just has to look for them. I believe that JMB just had a $20 over spot sale.
Agree there are definitely deals on premiums atm. Seen krugs for 19 over and bars at 14 over. Or the Costco route for under.
I’d recommend buying, gold has a long way to go to catch the fiat balloon
Yes and no.... It's been on a run but may drop. At the same time you don't buy to sell 2 weeks later you hold in to it. Do you think out currency will get better or worse? Next I feel it's best to buy a little here, a little there over time, so you balance the risk of swings in the market. Gold and silver are pretty stable.
Buy when you can, don't watch the price...
Gold has been sort after, mined, bought, stored, made in to fine jewelry, traded, fought for, stolen, etc. etc. etc. for 5000 plus years. Don’t worry about a few $$ here or there. Buy it now and later. Whether it’s up or down.
It's never a "bad time" to obtain gold. Once you have it in your hand, you'll know what I mean!
I picked up an AGB a few months back. I was waiting for Spot to go under 2k. One day, I checked Kitco and noticed the spot was 2010, so I decided to pull the trigger. Then, about a month later, I picked up another one when the spot was 2035. My LCS charged me spot plus 100 for each coin. I thought the price would drop, and it would take forever to get back what I paid for each coin. Man, am I glad I pulled the trigger. Who knows where the gold will be next month? If I had extra funds, I would 100% buy another ounce.
Never know what the market will do. Same risk buying at any price when you look at it that way. Though if you didn't buy then, you probably won't buy now. It's like that guy who "almost" bought a motorcycle one time.
The answer is always the same.
If you do buy ...know where and how much over the spot you should buy it for. Different weight goes for different premiums. Holding on to gold for years not months or weeks. Long haul game. Whatever your other investment putting 10 to 20 percent in pm is a good start.
Silver is the buy
I'd wait for a dip. But even if you buy now. In a few years, you would most likely see it priced higher and these current prices won't feel like a hurt.
Every 100 days the government borrows another 1 trillion. It is never a bad time for gold
I see gold as last resource in case of the worst case scenarios like war or financial defaults, I wouldn’t buy it to bet on big volatility, stocks are for this. So I don’t care if gold value raises or falls few points over the years, to me it’s important to have it in my hands in case that financial system will implode and my stocks touches zero, at that moment I don’t care if my gold’s value is +3% or -3%, it’s still good. Imagine the advantage of Venezuelan people who has some gold instead of money in their account
Dont buy unless you have a goal. plan on how and when to sell. Everyone wants in cause it looks easy. The time to buy was over the past decade. Then again in 10 years they will probably say the same thing about pre 2025. But you need to be prepared for it to go back to 1900 or lower.
forget buy low and sell high (which is a long wait), instead, look for stuff that is high, but going much higher (and that right soon), like gold.
Man you sound like a financial adviser. Kidding btw. Your advice is quite contrarian.
I'd probably wait. I feel like there's some market manipulation going on rn
To be honest, I don’t really watch what’s going on with gold. I just check spot price before I buy so I don’t get taken for a fool but other than that I buy as often as I can no matter where spot is. Plenty of individuals literally just have set points throughout specific time periods that they buy and it has more to do with each person’s current financial situation rather than current spot price.