Gold - Thoughts

[K1]

Was thinking of grabbing maybe another 10oz or so (physical)...What's everyone's thoughts on the current market conditions, with two banks now failing and talk of a 3rd on the rise.

 

[NITRO3]

Silver is the better buy. the gold to silver ratio is at 90:1 right now, which is pretty high. At the end of WWII it was 16-1.

I have some gold from 5+ years ago, but have been buying silver in 10oz bars, or 20 1oz coins every month.

I believe that silver will rise in price and lower the ratio once the "silver squeeze" breaks the big banks who are currently suppressing the price by shorting.

 

[K1]

Yeah, I was thinking another 10x1oz gold coins and 20x1oz silver coins...Just thinking of diversifying a little more with how fiat is losing it's hold.

I was reading an article with Kiyosaki (Rich Dad Poor Dad author) and he believes gold will reach $5k/2025 and silver will be at $500/2025...He expects them to end the year at $3800/gold and $75/silver.

edit: Aside from the speculative price predictions (which is the same with everything theories and opinions), it also provides physical value...Can use it to pay for goods anywhere in the world. Which is a good thing!

 

[Js118]

Where do you like to purchase precious metals ?

 

[K1]

Where do you like to purchase precious metals ?

Me personally, I don't have a lot of experience in that area...So I've only used JMBullion and Kitco.

 

[NITRO3]

Where do you like to purchase precious metals ?

JMBullion, and Gainesville Coins. Gainesville usually has better prices, but its always pre-order. I just bought 20 1oz Silver Morgan Dollar rounds from Defythegrid.com. I have some of their Utah and Nevada gold backs too. Its a small shop in Utah, and their spot prices are the best.

Agree with K1 to diversify between gold and silver...even gram gold bars will be enough.

 

[DCPharma]

Me personally, I don't have a lot of experience in that area...So I've only used JMBullion and Kitco.

Stay with the big names. There is a lot of fraud in the commodities game. That's the reason I don't do gold, silver, coins, etc. You can buy fake gold that passes almost every non-damaging authenticity test like chemical, weight, resonance and even x-ray. You would have to scrape deep enough into the bar/coin/&c to get past the gold plating. http://www.tungsten-alloy.com/gold-plated-tungsten-alloy-bar.html

Fun story (German): in 2016 a then-18-year-old in Göttingen sold 259 fake bars to a local bank for a total of ~300k Euro until somebody realized it.

 

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