Hedge with Gold?

[Pavel Svinchnik]

I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?

 

[william the wie]

I bought my gold hedge when I got out of the navy.

 

[Toro]

Gold will go down if there's another crash.

However, accumulating gold is a good idea. We are going to 0% interest rates forever, massive government deficits, and no consumer inflation. That money has to go somewhere, and it will go into stocks and real assets.

 

[ReinyDays]

I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?

I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago, up $500 from 5 years ago ... the price is close to the peak in 2011 of $1,700 an ounce ...

Crude oil is down 40% ... with the production war going on, does this have more room to fall? ... I have a tiny position in gold, I think I might sell ... I'm betting folks will think equities are a great buy now and gold prices will fall again ...

 

[The Irish Ram]

Pragmatically, what are you going to do with gold?
If you are a day trader, you could make some money, but otherwise it's up, it's down, it's up, no it's down.
To use it you have to turn it into worthless dollars. If times get bad, you wont even be able to buy a loaf of bread with it.
Junk silver is a better option. It is also a hedge, the price also fluctuates, but in harsh times you can buy a loaf of bread with it. It is legal tender.

 

[Toddsterpatriot]

I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?

I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago, up $500 from 5 years ago ... the price is close to the peak in 2011 of $1,700 an ounce ...

Crude oil is down 40% ... with the production war going on, does this have more room to fall? ... I have a tiny position in gold, I think I might sell ... I'm betting folks will think equities are a great buy now and gold prices will fall again ...

I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago,

Down $200 from a week ago,

 

[ReinyDays]

I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago,

Down $200 from a week ago,

Yeah, I'm thinking the time has passed to hedge on gold ...

 

[ReinyDays]

... but in harsh times you can buy a loaf of bread with it. It is legal tender.

I'm NOT saying we can't exchange silver for a loaf of bread ... of course we can if the bread seller is willing ... but the same is true for gold, or really anything ...

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

-- 31 U.S. Code § 5103. Legal tender

However, I believe only official silver coins are legal tender ... meaning you can't take a ounce of bar silver into a credit union and expect them to credit your account $14.69 ...

 

[Pavel Svinchnik]

I see gold dropped significantly. Is anyone buying a bit, just in case we have another crash?

I see gold closed at better than $1,500 an ounce yesterday ... up $200 from a year ago, up $500 from 5 years ago ... the price is close to the peak in 2011 of $1,700 an ounce ...

Crude oil is down 40% ... with the production war going on, does this have more room to fall? ... I have a tiny position in gold, I think I might sell ... I'm betting folks will think equities are a great buy now and gold prices will fall again ...

I started buying junk silver before Y2K and have been adding a few rolls every couple of years. I buy old coins, Mercury dimes, standing liberty quarters and halves, coins from before they debased the coinage. If things get really bad, maybe I can trade with the locals for necessary items. I also have some silver eagles.

I do have a few gold French franc pieces but was thinking of buying some GLD shares. I know they don't pay dividends but as someone posted, maybe eventually I can sell them for a lot of devalued dollars.

 

[The Irish Ram]

... but in harsh times you can buy a loaf of bread with it. It is legal tender.

I'm NOT saying we can't exchange silver for a loaf of bread ... of course we can if the bread seller is willing ... but the same is true for gold, or really anything ...

United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues. Foreign gold or silver coins are not legal tender for debts.

-- 31 U.S. Code § 5103. Legal tender

However, I believe only official silver coins are legal tender ... meaning you can't take a ounce of bar silver into a credit union and expect them to credit your account $14.69 ...

What store do you know of that will take gold for a loaf of bread? It is not legal tender. Utah tried to make it such and the feds shot that down immediately. If you did want food and handed the clerk a gold coin, it would be refused, but every one in line behind you will assume you are hording gold and will rob you that night.
Junk silver is silver dimes and quarters. Take a few dimes to the store and the clerk will take it and no one will be following you home to relieve you of your stash.