After a high well over $1,800 per oz USD in August 1022 the price dropped and stayed somewhat flat in the $1,500 to $1,600 range. On September 6th this year gold surpassed the $1700 per oz mark. Today It rose briefly over $1,740 per Oz.
Gold prices fluctuation and there is no real pattern to it except up. It has come a long way from the $263 per oz in the year 2000! It still remains one of the best investments you can make. However it is doing so well that is getting out of reach for many people to afford to be able to by it.
I think silver is a better play than gold.
Gold may double but I'm almost certain that silver will more than double, possibly triple. It would have to triple just to reach it's traditional 16:1 ratio with gold at today's price.
Hmmm...been collecting for a while but am pretty much priced out of the gold market now and so have been getting more silver. There are a lot of different opinions over the gold silver ratio and whether it will likely reach 16:1 but that said I believe a lot of investors are invested 70% silver and 30% gold. I hope the ratio does reach 16:1 again though as it would definitely improve our finances 😉
Yes I am afraid that gold is out of most peoples reach now in price......... they could not afford to get enough of it for it to make much of a difference to them. The time to get into it for Joe average was over a decade ago.
Personally I will concentrate more on having extra toilet paper, bullets, propane and diesel in my tanks. Those will be of a lot more use to me than some gold that no one in the area is going to want to trade for.
Let no good deed go unpunished.
Hi Cares, I used to think that way about silver too. I followed along the lines the lines of your formula. Last year I bought a whack of silver and as of today I am still down almost 19%. I will be a little more cautious in future, although even so over the last five years silver has risen 163%.
Gold is again on the rise. After settling down a bit overnight it just reached $1,768 USD per Oz.
Hi Cares, I used to think that way about silver too. I followed along the lines the lines of your formula. Last year I bought a whack of silver and as of today I am still down almost 19%. I will be a little more cautious in future, although even so over the last five years silver has risen 163%.
At that time everybody was saying it was going to keep going, but it always has dips.
I presently have 81oz silver for every 1oz gold, and the most I've paid for the Silver was $31/oz.
I'm to strapped at present to even get any silver and I think I've got enough now anyway to cover what will reman of our mortgage when the prices reach say $3k and $75, which was my aim for investing in it.
Lindsey Williams says that is where it is going and I think that is pretty conservative compared with what many say, but he has said that ultimately the gold will go to $7k, no mention of silvers ultimate price, but that could still take some years to happens.
Now it comes down to the 'Bullets, Beans, and Band-aids' purchases.
Got a fellow from town who is a retired butcher coming around next week to teach us all how to butcher small and large animals...fun fun 😀
With QE3 going ahead...the fun is about to begin 😉
Gold id slowly edging up. After reaching a high of $1786 it fell back to $1772 per Oz.
The real fun is going to be when nations go broke and central banks are pretty much forced into a gold standard of some kind. When total faith is lost in fiat then the nations will be gobbling up gold as fast as they can before the fall of their currencies. I believe it may be a gold/silver backed currency. At this point I would sell the metal and pay whatever loans I have in fiat. Start the transition debt free. Its a strategy I am using. I have a set sell number per oz. I buy an oz per X owed in debt. We purchase food and hard goods as a hedge as well, not just because I prep for doom.
One thing I was contemplating was if other nations who now possess dollars would, over a period of time slowly buy up gold. Once the dollar is devalued or collapses they would be in great shape. Basically what we are doing but on a national scale.
On the rise again. Now sitting at just over $1,790 USD per Oz.
The price of gold remains turbulent. It has just taken a tumble to $1743.
The price of gold remains turbulent. It has just taken a tumble to $1743.
The price of gold remains turbulent. It has just taken a tumble to $1743.