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gold closed tuesday 10/21/03 at $381.80 on the COMEX

Started by michael,

5 posts in this topic

michael

michael

Posted
Posted

are you a buyer of gold or usa gold coins?

 

will gold hit $400 by years end?

 

will it go higher in 2004?

 

are you bullish on gold?

 

any comments???

 

 

michael

 

 

nwcs

nwcs

Posted
Posted

I did recently purchase quite a bit of gold (for me) in the form of 2 double eagles, one eagle, and one quarter eagle. But now I'm staying put and waiting and seeing. I didn't buy them with the sole thought of gold going up, but for the coins 1st and then the thought of gold holding steady or increasing 2nd.

jtryka

jtryka

Posted
Posted

It's only $383 right now, so still pretty low. It was over $400 back in late 1995, and over $500 back in 89 (I think), so it could still go a lot higher. Even so, I really don't buy bullion, and the price of gold has a much smaller relative impact on the price of rare/better date gold coins. If you want to play the metal only, buy eagles or maple leafs, if you want to buy numismatic gold, buy some slightly better date Saints (14-S, 15-S, 16-S) in MS-63. These will probably get a nice bump with higher gold prices, as well as their collector appeal. The last thing I would do if I wanted to just play gold is buy any of the smaller denominations as the premiums to the gold content get absurd pretty fast (i.e. $500 for a saint is approximately $500/oz. or a 30% premium to gold content, $250 for a common date $2.50 is approximately $2,000/oz. or a 422% premium to gold content!).

chinook

chinook

Posted
Posted

As long as the dollar continues to drop as the Treasury prints more and more dollars, then gold will go up. The FED can't really drop interest rates any further so in order to keep the economy reflated it must print money. This is a situation that will not rectify iyself anytime soon. Gold will keep going up.

 

If you want to profit from this then buy gold stocks. Newmont Mining(NEM) and Barrick Gold(ABX) are the best companies. But you can get some outsized gains from the little marginal companies also like DROOY, which I own.

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