Gold. What in the…

[dabrockster]

I used to have a cool Marvin the Martian pure gold necklace I got when I was in HS. Really wishing I didn’t toss that away thinking gold will never be worth much.

What is happening with the massive increase over the last 20-years but more so in the past year.



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[Moliere]

Since the price of gold is just a comparison to the dollar, it's likely more a factor of the government printing money like a drunken sailor. You can't just print gold like we can print dolla bills, so the value of gold goes up. Probably not much unlike bitcoin

[BigFatMeanie]

Since the price of gold is just a comparison to the dollar, it's likely more a factor of the government printing money like a drunken sailor. You can't just print gold like we can print dolla bills, so the value of gold goes up. Probably not much unlike bitcoin

Yup - people treat both gold and Bitcoin as hedges against inflation. The more that we inflate money, the higher the price of those “assets”.

[Joe Public]

Also, central banks have increased gold holdings as a portion of their reserves.

[LVAllen]

Gold is up because people, institutions, and national banks flee to stability in times of instability. It's less a function of inflation and more a function of... everything.

[Bo Diddley]

Gold is up because people, institutions, and national banks flee to stability in times of instability. It's less a function of inflation and more a function of... everything.

The way it's skyrocketed in value, I'm not touching it with a 10' pole. I still remember my dad dipping his toe in gold investing in the late 70's and losing money on it. I think he had 10-12 gold Krugerrand coins, so not a ton.

[beefytee]

I would call it perceived stability and actually more tradition.

There isn't really an inherent value to gold, especially when times get tough. There is demand for jewelry and furnishings, but not much else. So, it comes down to speculation and scarcity.

People want to have something that doesn't change value, and for some reason gold has been associated with that. The fact of the matter is the value can fluctuate as much as anything else and not just because of the change in value of the dollar or other currencies.

[LVAllen]

I would call it perceived stability and actually more tradition.

There isn't really an inherent value to gold, especially when times get tough. There is demand for jewelry and furnishings, but not much else. So, it comes down to speculation and scarcity.

People want to have something that doesn't change value, and for some reason gold has been associated with that. The fact of the matter is the value can fluctuate as much as anything else and not just because of the change in value of the dollar or other currencies.

"[Value] resides where men believe it resides. It's a trick. A shadow on the wall. And a very small [commodity] can cast a very large shadow."

[frank ryan]

Silver has also spiked. I take that mean the economy is not good

[frank ryan]

I would call it perceived stability and actually more tradition.

There isn't really an inherent value to gold, especially when times get tough. There is demand for jewelry and furnishings, but not much else. So, it comes down to speculation and scarcity.

People want to have something that doesn't change value, and for some reason gold has been associated with that. The fact of the matter is the value can fluctuate as much as anything else and not just because of the change in value of the dollar or other currencies.

Ron Paul and John Birch Society say we must have gold standard and abolish the Fed!

[Shaka]

I haven't paid much attention to gold. How does one cash it in?

[BigPiney]

I haven't paid much attention to gold. How does one cash it in?

That is my question. Costco sells gold bars, but you have to have a buyer take them off your hands. Sounds like too much work.

[Jeff Lebowski]

I haven't paid much attention to gold. How does one cash it in?

Just buy a gold ETF.

[RC Vikings]

That is my question. Costco sells gold bars, but you have to have a buyer take them off your hands. Sounds like too much work.

I've got a buddy in Idaho Falls who works for a company that buys and sells precious metals, he says they usually buy at 10% below market and sell for 10% above market so you're already 10% down when you buy. Also he has a bunch of gold his dad bought but never cashed in before he died, that seems like the other scenario with medals, they buy them and then they sit somewhere and are never sold waiting for that emergency. I'd rather have a room full of guns and vodka, if things go to hell those two items you will be able to trade with, gold won't do you any good.

[Jeff Lebowski]

I've got a buddy in Idaho Falls who works for a company that buys and sells precious metals, he says they usually buy at 10% below market and sell for 10% above market so you're already 10% down when you buy. Also he has a bunch of gold his dad bought but never cashed in before he died, that seems like the other scenario with medals, they buy them and then they sit somewhere and are never sold waiting for that emergency. I'd rather have a room full of guns and vodka, if things go to hell those two items you will be able to trade with, gold won't do you any good.

When my mother died we found two big canvas bags of silver quarters that my parents bought at some point. Sold them for $20K.

I also have a strong suspicion that they used to have more than that and some of it walked away before we could go through the house thoroughly.