Need advice: Buy gold now or over time?

Discussion in 'Wealth Creation & Management' started by SuprmeLeadr, Oct 22, 2019.

  1. Caneorange

    Caneorange Member

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    I think Rich Dad Poor Dad explained it best. The best way to create wealth is by creating businesses. It is hard to create wealth as an employee. Everyone wants to be an investor but it takes several 100K to be a real investor. (My paraphrase).

    Stacking is a hobby just like collecting anything else. If you are truly investing you need several 100K to make an impact.

    Example; WC says he gets 2% a month investing. If he has 10K “invested” he will have just under 33K in 5 years if he is “reinvesting” or he takes home $200 a month. Nothing here to change his life. Same holds true if he has 100K. However, if he has 300K now he is at almost a million in 5 years reinvesting or he takes home 6K a month.

    The problem is most people try to be an investor without the proper capital. That was my mistake about 5 years ago. I instead shifted gears 3 years ago into creating businesses. I have covered more wealth ground in 3 years than I had the previous 10 years working.
     
    Last edited: Jul 5, 2020
  2. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    Personally I like to keep minimal cash at any time and id never dream of having 15k cash sitting around daily losing value while metals keep rising.
    Physical price wont be dropping much if any and with the jump from $1200 to $1800 you've lost ALOT of purchasing power already.
    Cost averaging might work in some environments but I sure wouldnt hope for prices to drop because they have every reason not to. We are looking at an upward trend now.
    Even if paper spot drops you wont find metals for that anyway, might as well get it now and be done with it is my opinion.
    I sure wouldnt wait too.
     
    Last edited: Jul 5, 2020
  3. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Wholly crap.
    You're back!

    I remember the last conversation we had regarding your trading strategy being a statistically certain failure: Here

    How did that option-roulette-wheel thing work out for you?
     
    Last edited: Jul 5, 2020
  4. Caneorange

    Caneorange Member

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    Yep. I have kept checking the site over the last few years but never had the free time/desire to post anything. The only reason I was posting then was because of the fact I had a newborn that I was staying up all hours of the night with. You can probably guess that I have another newborn. So I’ll only be posting for a month or so and then I’ll go back to just reading the forums every few months.

    Statistics have held up with the positive expected return like a mathematician would predict. Again the problem was the small bankroll. Like I stated in the above post.

    I hope your investments have done well. Remind me what you trade. I had more important things to do over the last 4 years than remember what you said. What I quickly gathered from the link you provided is you claim a 2% per month return since 2012. My guess is you started with a small bankroll like myself and still sadly have a small bankroll.
     
  5. Jamie watson

    Jamie watson Active Member

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    Gold has outperformed, silver by somewhere in the ballpark of 5_1 over the past 50 years,buying a bit of extra gold at anytime is a very sound strategy,it's a long game.but always keep a bit of dry powder,just in case.you may find a bargain or just a rainy day.. good luck with it.cheers mate.
     
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  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    That's a shame.
    I make the effort to remember everyone.

    You're still butthurt I see. :p
     
  7. Peter

    Peter Well-Known Member

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    What do you see happening to the price of gold, silver, and bitcoin over the next year?

    Bitcoin is our boom/bust story for Uranus in Taurus. They rally to unimaginable highs in 2021-2022, and then they lose 73-93% of their value by 2025.

    Gold is due for a top by middle 2022. It may have already happened, but until it falls below 1500, I think it will have another run by mid-2022 to new highs, and then lose 50-90% of its value 2-5 years later.

    Silver… my target is 35.00 +/- 3, and if it gets above there, the sky is the limit.

    I see both metals making another low by May 2021, and then the next rally starts, but ends by mid-2022. For Gold, the bottom may be 1600 +/- 100; for Silver 19.50 +/- 1.50. And then another rally, probably the last before the big decline.
    Mma.
    Astrolgical predictions
     
  8. alor

    alor Well-Known Member Silver Stacker

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  9. wrcmad

    wrcmad Well-Known Member Silver Stacker

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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    What’s the annal fetish about?
     
  11. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    My Missus has worked in Hospital Emergency Dept's for better than 25 years. You wouldn't believe the things people get stuck up their ass.
    Better still, the excuses are hilarious. :)
     
    Last edited: Jan 13, 2021
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  12. betterinvestmentthanshare

    betterinvestmentthanshare Active Member

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    30% Real Estate
    30% Shares
    20 % Cash
    10% Alternative Investments
    10% Income

    Buy and sell and move/switch assets accordingly
     
  13. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I'm surprised it wasnt a cat pic. Fur isnt a good lubricant.
     
  14. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Y’all threading on new territories on this topic!
     
  15. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Look up ten lithium ore players trading at 2c to 25c each.
    Buy $1500 worth of shares in each company, in two years you will have 10, 20, 50 times return
     
  16. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Paper manipulation makes short term predictions random guesses.

    But regardless of the investor sentiment on precious metals, I still see an uptick in physical gold buying past couple of weeks. And this despite all the social distancing which makes buying physical gold and jewellery a problem.
     
  17. 66rounds

    66rounds Well-Known Member Silver Stacker

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    As long as central banks keeping buying, the overall trend for gold will be up regardless of any corrections in paper price.
     
  18. 66rounds

    66rounds Well-Known Member Silver Stacker

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    $15,000? You over estimate your fellow forum members. You know we dont find a spare $2 in the trolleys outside Woolworths without spending it on silver.
     
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  19. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    the op states $15k lol
     
  20. TreasureHunter

    TreasureHunter Well-Known Member

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    I see a high chance of seeing lower gold and silver prices this year, unless the US and/or EU start easing heavily. Watch the news on stimulus and on economic growth, unemployment.

    With the corona vaccinations undergoing, economies restarting, Biden getting in power, the US dollar, CHF and EUR are already gaining momentum. If you check the charts, you will see gold zig-zagging down.
    Bitcoin is also going to pop soon, it went up vertically, so the crash is natural to happen soon.

    There will be a "false economic recovery" (especially for the US) in these 1-2 years. So I expect gold to sink a bit now in 2021 and then pick up in 2022-2023.

    So basically a heavy correction is what I expect, prolly down to 1,400 USD.

    I recommend watching Marc Faber and Alessio Rastani (for the technicals) on YouTube. They seem more realistic than the gold permabulls (which I also watch - e.g. Peter Schiff).
     

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