Gold Market

[Anonymous No.12394553]

Hey guys, I know this is mainly about cryptos and such but I was wondering if it is still cool to talk about precious metals. Anyways I was wondering what you thought of buying gold atm. It is at about 1,300/oz but I have about $800 to either blow or save and I was thinking about buying around a 1/2oz of gold. Dumb idea? Bad idea? Decent idea? Wrong board? Thks

[Anonymous No.12394583]

If you're buying gold because you expect a market crash: dumb idea. Gold goes down during deflationary corrections.

The only time gold goes up is during inflation or the expectation of inflation.

If you do need to buy, just buy the etf so you're not 20% in the hole already due to dealer premiums on physical.

[Anonymous No.12394657]

>>12394583
this guy gets it.

stay away from physical, you'll end up dying with it. after which you're next of kin will sell it immediately to the local pawn shop and then blow it on a car down payment they can't afford. use paper/contracted/ETF gold as a hedge, no more than 10% of holdings. Be sure to rebalance your portfolio based on predetermined asset allocation levels.

[Anonymous No.12394718]

>>12394657
I feel that "dying with it" on a personal level inherited alot of silver but didnt sell cuz i knew the market. i get what you are saying, but isn't not physically holding it yourself fairly risky? perhaps i have been watching and reading too many conspiracy theories but still, things could go 1933 in an instant and id be fucked. Or maybe im a paranoid t. retard.

[Anonymous No.12394749]

>>12394718
>but isn't not physically holding it yourself fairly risky?
if the time comes where contract law is thrown out the window, lead is going to be more useful to you.

[Anonymous No.12394775]

>>12394657
this. physical money is useless today.

[Anonymous No.12394811]

>>12394749
I'm not talking about the fucking apocalypse, I'm talking about elaborate schemes, business practices, and the shady federal reserve. >>12394775
That is not true, maybe to make a profit it is, but not to hold stability

[Anonymous No.12394820]

>>12394583
I was more or less also asking what people thought about the current time to buy gold, its higher than the past year, but not the past 5 years.

[Anonymous No.12394836]

>>12394811
i already said to hold some paper as a hedge. personally i have $40k worth. i would suggest investing in other things before buying PMs though (i.e., typical boomer investments like low cost index funds).

[Anonymous No.12394896]

>>12394836
Wow almost a kilo worth of gold, and you don't have any of it in physical form? I have been investing in precious metals for a little bit but have also been thinking about expanding. Like I said I currently have $800 rn, I know alot of these other "smart investments" tend to require more upfront cash.