All that glitters...

[Breand]

I can understand that. Personally I wish I was the type that has an arsenal prepared to defend my gold stash, but I'm not. But one can look at Perth as just another form of stock that actually has intrinsic value. It's just like any other investment that is represented by 1s and 0s somewhere on a server. Companies and their stock value crash all the time, gold will always have some value.

[Grieve]

I personally don't let anyone store for me. Kinda defeats the whole reason why I invest in precious metals.

Yes, but we don't all have your personal arsenal to protect gold stored in our own homes...

[Thudz]

I personally don't let anyone store for me. Kinda defeats the whole reason why I invest in precious metals.

Yes, but we don't all have your personal arsenal to protect gold stored in our own homes...

The security of my investments has little to do with my firearms and more to do with discretion and fortification. Buy a good safe and install it properly, anyone can do this. And on that note, I've said too much.

[Slamz]

Yes.... what kind of safe did you get? What sort of combination might one put on such a safe? What time are you typically away from home...?



Incidentally, food for thought:

Wall safes -- safes embedded into your wall. They bolt into the structure of the house and can't be removed short of axes or power tools. Most are very shallow, to fit within the drywall, but are good for holding guns. I dunno that I'd buy one to store gold, though, since the ones I've seen didn't look terribly secure. I'm sure you can get the typical movie villain wall safes too but I think those are pretty rare, because who really has a 1' deep space in their house where they can mount the thing without it sticking into the next room or outside?

Floor safes -- safes embedded into your floor. These are actually dug into your concrete foundation, plopped down and covered over with cement. There's no way to remove them short of a jackhammer. There's a lot more size variety than the wall safes and they're more secure. Expensive to install, though.

Free standing safes -- aside from little safes that are literally free standing, you can get ones that bolt into walls or floors and are thus hard to remove by burglars. Additionally they tend to be extremely heavy since they are armored all around (whereas the floor safes are relatively light -- only the door is armored because the rest is embedded in concrete, and wall safes aren't overly heavy either since they seem more for convenience and to prevent idle tampering than to actually repel a dedicated burglar who knows how to use an axe).


The other advantage of wall and floor safes is that you can more easily hide them. Some are designed to help stay hidden. The other advantage of the free standing safe is you can take it with you when you move without leaving behind more damage than the safe was worth.

[Jakensama]

[youtube]http://www.youtube.com/watch?v=WndsnSs3Tu0[/youtube]

Get one like Avon and Stringer.

[Thudz]

Yes.... what kind of safe did you get? What sort of combination might one put on such a safe? What time are you typically away from home...?



Incidentally, food for thought:

Wall safes -- safes embedded into your wall. They bolt into the structure of the house and can't be removed short of axes or power tools. Most are very shallow, to fit within the drywall, but are good for holding guns. I dunno that I'd buy one to store gold, though, since the ones I've seen didn't look terribly secure. I'm sure you can get the typical movie villain wall safes too but I think those are pretty rare, because who really has a 1' deep space in their house where they can mount the thing without it sticking into the next room or outside?

Floor safes -- safes embedded into your floor. These are actually dug into your concrete foundation, plopped down and covered over with cement. There's no way to remove them short of a jackhammer. There's a lot more size variety than the wall safes and they're more secure. Expensive to install, though.

Free standing safes -- aside from little safes that are literally free standing, you can get ones that bolt into walls or floors and are thus hard to remove by burglars. Additionally they tend to be extremely heavy since they are armored all around (whereas the floor safes are relatively light -- only the door is armored because the rest is embedded in concrete, and wall safes aren't overly heavy either since they seem more for convenience and to prevent idle tampering than to actually repel a dedicated burglar who knows how to use an axe).


The other advantage of wall and floor safes is that you can more easily hide them. Some are designed to help stay hidden. The other advantage of the free standing safe is you can take it with you when you move without leaving behind more damage than the safe was worth.

Get one of these and bolt it down. Concrete slab would be best.

<!-- m --><a class="postlink" href="http://www.gunsafes.com/Liberty-Gun-Safe-Presidential-39-Gun-Fire-Safe-in-Gloss-Black.html">http://www.gunsafes.com/Liberty-Gun-Saf ... Black.html</a><!-- m -->

[Grieve]

Gold flirting with $1300...wish I'd stayed in...

[Vanraw]

SHORT IT!!!!

[Dustie]

SHORT IT!!!!

People have been saying that for the past 7 months. I tend to think you're right, but as always, its all about timing.

[Vanraw]

Yea I agree Dustie. I just dont touch it

Gold is a 100% emotional trade and has nothing to do with real demand. That scares me.

[Grieve]

People have been saying that for the past 7 months. I tend to think you're right, but as always, its all about timing.

Actually they've been saying that for the past 10 years, since it was $250 an ounce or so.

Gold is a 100% emotional trade and has nothing to do with real demand. That scares me.

I don't think that's quite true. Lots of central banks have turned from sellers of gold to buyers, most importantly China. They are trying to diversify their currency reserves, of which, as we know, they have bazillions. Plus the gold ETFs have sucked a huge amount of the gold supply out of the market.

[Vanraw]

But there is not anywhere near a lack of supply. Its an emotional trade for the sole reason that people are buying it to be "safe".

[Breand]

I own Newmont Mining stock which is up 45% since I bought it and hands out a quarterly dividend. I love the idea of owning gold, but can't bring myself to do it. And it's a market that is ripe for overpricing and taking advantage of people.

[Grieve]

I bought a big chunk of Yamana (AUY) today on the dip, so that signals a top in gold for sure.

[Breand]

Yea I agree Dustie. I just dont touch it

Gold is a 100% emotional trade and has nothing to do with real demand. That scares me.

The value of each society's currency throughout history has ended at zero. Gold has always held value for as long as organized society has existed. Put another way, if you were in the middle of a warzone and someone offered you a bribe with a bag of that nation's currency or an equal amount of that currency's current value in gold or diamonds, which would you take?

[Vanraw]

Breand, I dont trade in currencies either. But note that your example statement is an excellent example of why Gold is strictly an emotional trade. The price is not going up due to lack of supply or increase in demand. Its going up because people are saying the "sky is falling". People think if all the markets crash then gold will be safe.

Frankly the only way that is true is if you have the actual gold in your basement or vault. Because owning a chunk of paper that says you own something would be useless in a time of war or cataclysmic event.

Im not saying people aren't making money on gold. they are. They propaganda;e will make more, but if you ask me it looks like a bubble to me because its not proped up with sustainable facts, except that "its going to keep going up".

Bubble alert.....

[Dustie]

Breand, I dont trade in currencies either. But note that your example statement is an excellent example of why Gold is strictly an emotional trade. The price is not going up due to lack of supply or increase in demand. Its going up because people are saying the "sky is falling". People think if all the markets crash then gold will be safe.

Frankly the only way that is true is if you have the actual gold in your basement or vault. Because owning a chunk of paper that says you own something would be useless in a time of war or cataclysmic event.

Im not saying people aren't making money on gold. they are. They propaganda;e will make more, but if you ask me it looks like a bubble to me because its not proped up with sustainable facts, except that "its going to keep going up".

Bubble alert.....

I agree. With the number of ads on Fox and conservative talk radio about "buy gold now", I'm suprised the price isn't higher. This entire run-up is almost entirely sponsored by conservative people like me preparing for armagedon (which only has a .00005% chance of actually occuring).

[Snowreap]

gold isn't inherently valuable (aside from a few industrial uses) -- you can't eat it, or reasonably make clothing or a shelter out of it. the only reason people think gold is valuable is because they believe that other people will give them things for it. so it's a currency, just like paper money, only more durable (e.g. it doesn't lose value if it catches on fire).

if you're worried about a collapse of civilization, ammunition is a much better investment than gold.

-ken

[Grieve]

The point is not that gold is in short supply, or that armaggeddon is coming. It's that all around the world the printing presses are in overdrive, resulting in devaluation of currencies. If there is the same amount of gold but more dollars out there, the gold will be worth more when measured in dollars. Same for all commodities. Metals, grains, oil, gas...everything.

I went back and forth between gold (or gold miners) and grains (or potash companies)...I think both will be great investments in the long term. This gold play is more based on QE2 hopes.

[Dustie]

The point is not that gold is in short supply, or that armaggeddon is coming. It's that all around the world the printing presses are in overdrive, resulting in devaluation of currencies. If there is the same amount of gold but more dollars out there, the gold will be worth more when measured in dollars. Same for all commodities. Metals, grains, oil, gas...everything.

I went back and forth between gold (or gold miners) and grains (or potash companies)...I think both will be great investments in the long term. This gold play is more based on QE2 hopes.

If that's the only argument though, then why not just load up on TIPS?

[Grieve]

If that's the only argument though, then why not just load up on TIPS?

Tips protect against inflation. We don't have any inflation right now. Commodities are going up, but due to the recession most "stuff" isn't. People are still talking about deflation, and the Fed is thinking of ways to engineer some inflation to get people out of bonds.

[Dustie]

If that's the only argument though, then why not just load up on TIPS?

Tips protect against inflation. We don't have any inflation right now. Commodities are going up, but due to the recession most "stuff" isn't. People are still talking about deflation, and the Fed is thinking of ways to engineer some inflation to get people out of bonds.

I guess you're right. Devaluation is not the same as inflation.

[Grieve]

Gold is really off to the races today, after the Fed minutes yesterday. $1374, up almost $23!

[Grieve]

Gold just took out $1400 with extreme prejustice, for a new all-time high. Things could get very interesting from here...

[Breand]

I'm going the silver route...supposed to be very undervalued from what I've read. bought SLV last week, already up 15%.