The price of gold plunged to the lowest level in almost three years
Wednesday as traders anticipate lower inflation risk as the Federal Reserve
dials back its economic stimulus program.

On Thu, 27 Jun 2013 01:07:44 -0400, wrote:

On 27 Jun 2013 00:37:08 GMT, F.O.A.D. wrote:

The price of gold plunged to the lowest level in almost three years
Wednesday as traders anticipate lower inflation risk as the Federal Reserve
dials back its economic stimulus program.

The real value of gold is probably around $700-800 but the prices went
nuts. It is just another bubble.

===

Not sure where you got that number from but it is definitely
unprofitable to mine it at that price. Assuming no large scale
selling by central banks, a certain amount of freshly mined gold is
necessary to replace that which is taken off the market by jewelery
and hoarding. At current prices you are more likely to see buying by
central banks than selling.

http://business.financialpost.com/2013/06/26/gold-prices-miners/

http://seekingalpha.com/article/1503672-the-cost-of-mining-gold-a-101-and-a-critique

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

*If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you
suggest the purchase be made?

John (Gun Nut) H.
--

Hope you're having a great day!

On Thu, 27 Jun 2013 12:33:36 -0400, John H
wrote:

On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

*If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you
suggest the purchase be made?


=====

There are a lot of different ways although I would not recommend
bullion or coins - transaction costs are too high. In my opinion the
easiest, cheapest and safest way is via the SPDR Gold Shares ETF
(Exchange Traded Fund): GLD

http://finance.yahoo.com/q?s=GLD

If you want leverage vs the price of gold then gold mining stocks
offer an opportunity, either directly or via an ETF for greater
diversity.

AEM, GLDX, NEM, ABX, etc.

http://finance.yahoo.com/q?s=GLDX

In any case I would recommend no more than 10 to 20% of your portfolio
with the rest being in cash equivalents or high quality, low cost
index funds.

On Thu, 27 Jun 2013 13:22:42 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 12:33:36 -0400, John H
wrote:

On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

*If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you
suggest the purchase be made?


=====

There are a lot of different ways although I would not recommend
bullion or coins - transaction costs are too high. In my opinion the
easiest, cheapest and safest way is via the SPDR Gold Shares ETF
(Exchange Traded Fund): GLD

http://finance.yahoo.com/q?s=GLD

If you want leverage vs the price of gold then gold mining stocks
offer an opportunity, either directly or via an ETF for greater
diversity.

AEM, GLDX, NEM, ABX, etc.

http://finance.yahoo.com/q?s=GLDX

In any case I would recommend no more than 10 to 20% of your portfolio
with the rest being in cash equivalents or high quality, low cost
index funds.


Thanks, Wayne.

John (Gun Nut) H.
--

Hope you're having a great day!

On Thu, 27 Jun 2013 13:22:42 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 12:33:36 -0400, John H
wrote:

On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

*If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you
suggest the purchase be made?


=====

There are a lot of different ways although I would not recommend
bullion or coins - transaction costs are too high. In my opinion the
easiest, cheapest and safest way is via the SPDR Gold Shares ETF
(Exchange Traded Fund): GLD

http://finance.yahoo.com/q?s=GLD

If you want leverage vs the price of gold then gold mining stocks
offer an opportunity, either directly or via an ETF for greater
diversity.

AEM, GLDX, NEM, ABX, etc.

http://finance.yahoo.com/q?s=GLDX

In any case I would recommend no more than 10 to 20% of your portfolio
with the rest being in cash equivalents or high quality, low cost
index funds.


Forgot this. Next month I plan to remove my portfolio from the Wells Fargo management folks. They've
been consistently well under performing the S&P. My question to them is why not just invest
everything in the SPDR S&P 500? At least I wouldn't be as far behind the S&P as I've been, nor would
I be paying them for 'management'.

(Thirty years in the military did not teach me a lot about investing.)

John (Gun Nut) H.
--

Hope you're having a great day!

On Thu, 27 Jun 2013 13:43:47 -0400, John H
wrote:

Forgot this. Next month I plan to remove my portfolio from the Wells Fargo management folks. They've
been consistently well under performing the S&P. My question to them is why not just invest
everything in the SPDR S&P 500? At least I wouldn't be as far behind the S&P as I've been, nor would
I be paying them for 'management'.

(Thirty years in the military did not teach me a lot about investing.)

====

I think that's a good plan. Charles Schwab has excellent service and
low commissions, especially compared to Wells Fargo. The Vanguard
index funds (which can be purchased directly or via Schwab) are
excellent and have low management fees.

In article ,
says...

On Thu, 27 Jun 2013 09:39:49 -0400, Wayne.B
wrote:

On Thu, 27 Jun 2013 01:07:44 -0400, wrote:

On 27 Jun 2013 00:37:08 GMT, F.O.A.D. wrote:

The price of gold plunged to the lowest level in almost three years
Wednesday as traders anticipate lower inflation risk as the Federal Reserve
dials back its economic stimulus program.

The real value of gold is probably around $700-800 but the prices went
nuts. It is just another bubble.

===

Not sure where you got that number from but it is definitely
unprofitable to mine it at that price. Assuming no large scale
selling by central banks, a certain amount of freshly mined gold is
necessary to replace that which is taken off the market by jewelery
and hoarding. At current prices you are more likely to see buying by
central banks than selling.

http://business.financialpost.com/2013/06/26/gold-prices-miners/

http://seekingalpha.com/article/1503672-the-cost-of-mining-gold-a-101-and-a-critique

Gold is not a necessity and once the bubble bursts. the gold in the
market now is enough to supply actual need. When gold is a decreasing
asset, that jewelry will lose it's luster and a lot of it will be
melted down ... as it has been for thousands of years. Simply the fact
that the bubble price drove miners to exploit tapped out mines and
make that profitable does not imply that the market cost of the gold
would support it if people were not expecting a price increase and
stopped buying.

Gold is money, money is a necessity in this world today.

In article ,
says...

On Thu, 27 Jun 2013 11:52:32 -0400, Wayne.B wrote:

On Thu, 27 Jun 2013 11:42:47 -0400, wrote:

Gold is not a necessity

=======

Unless you want to protect yourself from hyperinflation. Governmental
money printing always ends badly sooner or later.

*If* I wanted to buy gold, and didn't continuously listen to Glen Beck like Harry, where would you
suggest the purchase be made?

John (Gun Nut) H.

I, like most intelligent people would go to a gold broker.....