I added another 5oz of gold to my stack in the short dip below $1,400 (I paid about $1,394 + 2.5% premium) and 24 hours later the NZ dollar dropped 2% against the US dollar (double win). In the grand scheme of things, when gold is trading at much higher prices in the future, none of this will matter, but it still gave me a wee buzz as I'd never timed any of my prior purchases very well. My savings are now about 55% PMs and 45% cash. The NZ dollar has really taken a hammering since the Christchurch earthquake, hence my decision to buy more gold. I can't see it getting any better in the short term. Sometimes I get a little worried that I'm too heavily invested in PMs, but with all the woeful economic news I read each day I know it's the right decision. There's a well known market commentator/investor (can't remember who) who said you don't get rich by diversifying your investments; you pick what you think is a winner and go all in (or words to that effect). I'm not expecting to get rich by investing in gold, but at a minimum I expect to maintain my wealth and there's always the wildcard Free Gold scenario, where gold is revalued overnight to <insert what would now seem like an unbelievable figure>.
Nicely done. Its not always the big wins that count and your reasoning would be concurrent with all of us.
I hear that brother ! Bought a whole bunch of non-perishable food on the weekend, the whole time I had a knot in my stomach thinking " you're going off the deepend here, you've really joined the tinfoil hat brigade", but then as I was packing it away, the TV news was on in the background and I thought, "Nah...better to be safe than sorry." And ditto, Well done on the gold buy
maybe consider diversifying investments into uranium or thorium and rare earths (energy comodities stocks) - oil is too confusing for me so i stay away
I think there's going to be strong public resistance to the construction of any new nuclear power plants.
Brought my first 10 gram gold PM and received it in the mail.....thought I would get one to show the kids....it is soooo tiny... Oh well....still pleased with myself
got my first oz au @ $560 USD....but our exchange rate killed me ended up paying $780 AUD...but that was 5 years ago. thought it was pretty high at the time
LOL, I failed again. Due to the US dollar going further down the toilet and gold trading sideways, it's actually NZ$41/oz less than what I paid three weeks ago. I know, I know, $41/oz will be meaningless in a few years time.
