Community Chat

[patbz]

I have started following the spot good price because (usually) gold goes higher when there are world upheavals.  Today good is at $1750, which is up $15 overnite.  That's good if you have gold to sell but not  good indicator for the rest of us.

[Silver Lining]

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@patbz wrote:

I have started following the spot good price because (usually) gold goes higher when there are world upheavals.  Today good is at $1750, which is up $15 overnite.  That's good if you have gold to sell but not  good indicator for the rest of us.

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I don't understand. Good if you have gold to sell, bad for the rest of us? 

[SharkE]

She means if your buying best hold off buying gold jewelry if you have gold to sell it's good time to sell it off.

Personally, I'm holding out closer to 1800.

[Snowpuppy]

It'll crash huge again as it did a few weeks ago. Look at 30 day pricing on Kitco. Spot is for future delivery, not the current price.

People and nations will sell again in an attempt to raise cash. Right now, cash is king. 

[patbz]

To clarify my comment (bad for the rest of us) means, of course, that you shouldn't buy gold right now but, more importantly, our economy is seriously in the toilet.  In times of turmoil, people prefer good over paper money (it is easily convertible to whatever you need it for -- food, shelter, etc).

[sunala]

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@patbz wrote:

To clarify my comment (bad for the rest of us) means, of course, that you shouldn't buy gold right now but, more importantly, our economy is seriously in the toilet.  In times of turmoil, people prefer good over paper money (it is easily convertible to whatever you need it for -- food, shelter, etc).

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@patbz- the way I see it, gold is now useless to me. I'd trade one of my gold bracelets for a few dozen eggs, a big bag of flour, and some sweet navel oranges!

[Snowpuppy]

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@sunala wrote:

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@patbz wrote:

To clarify my comment (bad for the rest of us) means, of course, that you shouldn't buy gold right now but, more importantly, our economy is seriously in the toilet.  In times of turmoil, people prefer good over paper money (it is easily convertible to whatever you need it for -- food, shelter, etc).

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@patbz- the way I see it, gold is now useless to me. I'd trade one of my gold bracelets for a few dozen eggs, a big bag of flour, and some sweet navel oranges!

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And Sunny speaks for many people! 

Even if you own gold coins, should you go to a coin dealer/pawnbroker, they will give you their price to purchase, not spot pricing.