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The markets from a physical viewpoint and the theorems behind 6 replies

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Anyone own physical Gold?

  • #81
  • Jun 7, 2019 7:23am Jun 7, 2019 7:23am
Quoting DonPato
{quote}I think most of these (at least mine are) comments meant as "tongue-in-cheek".
And mine as well. I am hoping to learn a bit from all of you here. I am new to the metals trading (or any trading for that matter), so I'll listen a bit more and avoid the comedy (or lack there of) for a bit. That being said, my buy in on XAUUSD at 1333 is looking Ok at the moment headining into NFP.
If in doubt, paddle out!
  • #82
  • Edited 8:37am Jun 7, 2019 7:39am | Edited 8:37am
Quoting SurfsUp
{.... That being said, my buy in on XAUUSD at 1333 is looking Ok at the moment headining into NFP.
NFP was way lower than expected and it looks like Gold just hit a new 3 month high. I have a limit on part of my trade at 1350... keep your fingers crossed..
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  • #83
  • Jun 7, 2019 7:47am Jun 7, 2019 7:47am
Quoting bulltrap
I will say holding physical precious metals definitely isn't just for preppers. Despite the stigma that terrible infomercials put off I think it is prudent and helps an investor diversify. It is fun to exaggerate a bit when making a point about how the world values things though. Anything that can be bought/sold in some form of marketplace is an asset but the value (price) of that asset is often not tied to its utility. Gold is just one example of how the economy (humanity) is ultimately what determines something is worth. To avoid getting too sidetracked...
I have a sentry safe and love it. I did a quick search and found quite a few with the same safety specs the one you linked to has. They were all over $1k less expensive. I have no idea exactly what you're looking for but plenty of options to choose from. There out there for at least 1/8th of the Gardall safe in your post. Then after you save over a grand, You're physical gold holdings go up by a 2019 1oz american gold eagle.
We must learn who is gold, and who is gold plated
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  • #84
  • Jun 7, 2019 7:51am Jun 7, 2019 7:51am
Quoting Ef5
massive fraud or some sort of apocalyptic scenario.
you realize the majority of physical holders (at least that i've met in person) buy because they believe there will be a financial or government meltdown? even reading gold books the "professional" authors never fail to mention end times.
Keep It Simple With Sentiment (KISWS) - Trade and Profit like the Pros!
  • #85
  • Jun 7, 2019 8:15am Jun 7, 2019 8:15am
Quoting perma-bull
{quote}you realize the majority of physical holders (at least that i've met in person) buy because they believe there will be a financial or government meltdown? even reading gold books the "professional" authors never fail to mention end times.
This is most likely true...however most of us here are not among the majority of people. Without a doubt, having gold will probably be useless in "the end times". However, think of some place like Greece, or Venezuela, where the currency they all depended on became useless almost overnight. In Greece where even though they had Euros they couldn't get them from their banks because the banks were broke. Having physical Gold could alleviate the issue and keep you going until the crisis abates (however "temporary" it may be). In the US this was about to happen before Bush stepped in and put all the bankers in one room and would not let them leave until they worked something out.

It is not impossible that one day you wake up and your trading account is Zero...your bank account is worthless, and you have nothing to sustain your life until some "crisis" is resolved...by (well fed and fat) politicians. They're in no hurry to solve YOUR problems and if you depend on the "system" they establish...one day you WILL be sorry.

IF you have enough now and have a savings account "for emergencies"... why not also have a small stash of something that will never go to zero? To me...that just makes good sense.
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  • #86
  • Jun 7, 2019 10:49am Jun 7, 2019 10:49am
Quoting DonPato
IF you have enough now and have a savings account "for emergencies"... why not also have a small stash of something that will never go to zero? To me...that just makes good sense.
I can see some sense in a "doomsday fund", but if the economy and systems their built on collapsed then I'd expect something else entirely to take over as a form of currency purely because so few will have that nest egg. We'll be trading bottle caps instead
  • #87
  • Jun 7, 2019 11:11am Jun 7, 2019 11:11am
Quoting Metallurgy
... We'll be trading bottle caps instead
I like it!! I must start my collection today!! What do you think...the old metal ones? or the more modern plastic?
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  • #88
  • Jun 7, 2019 11:12am Jun 7, 2019 11:12am
Quoting DonPato
{quote} I like it!! I must start my collection today!! What do you think...the old metal ones? or the more modern plastic?
Without a doubt metal all the way!
  • #89
  • Jun 7, 2019 4:30pm Jun 7, 2019 4:30pm
Quoting perma-bull
{quote}you realize the majority of physical holders (at least that i've met in person) buy because they believe there will be a financial or government meltdown? even reading gold books the "professional" authors never fail to mention end times.
I was just talking to a buddy about that today - anyone that talks about gold has at least some prepper in them, all of us probably included! Anyone preaching about it though (books, websites, etc.) seem to believe more than they probably should.
  • #90
  • Jun 7, 2019 4:30pm Jun 7, 2019 4:30pm
Quoting Metallurgy
{quote} Without a doubt metal all the way!
Could double as a weapon, sharp edge, utensils, etc. Good thinking!

... wait. Who's the nutjob prepping for doomsday?
  • #91
  • Jun 7, 2019 5:07pm Jun 7, 2019 5:07pm
Quoting DonPato
However, think of some place like Greece, or Venezuela, where the currency they all depended on became useless almost overnight.
If I lived in Venezuela and had 100 Gold Buffalos I still think I would have a hell of a time acquiring food, water, and utilities.

I may have more money to my name, but it would be extremely hard to use it. I would still be way better off than the average José holding worthless Venezuelan bolívars.
If you have faith in our leaders of commerce, don't buy gold.
  • #92
  • Jun 8, 2019 5:24am Jun 8, 2019 5:24am
One must also note that if you have physical gold, you should make strategy on how to convert it to money (in an emergency, since some give Venezuela as an example). For example, it would be unwise to have all gold in one shape, for example if you had 1kg gold, it would be risky to go to somewhere to get some goods/services/cash... in a risky/chaotic situation. I would much prefer to have SOME emergency gold stored in for example "50 gram Gold CombiBar which comprises 50 detachable 1 gram gold bars.".. just to get me out of the country (in an emergency) and then either come back for the rest or convert it slowly... first just something to get some basic cash, go to somewhere safe... and convert the rest from there.

Well yeah you could always CUT some chunk out of larger on your own, but it would extremely suspicious and also unpractical for shopping directly in stores (which could be done somewhere, specially with the owner of small store; with a loss but hey, in emergency...). Hence, combibars are much more suitable.

I think it would be wise to have some gold in 1 gram bars, so you can change it for quick goods/services. This Combibar that I mentioned is particulary convenient since you do not have to break it down unless you have to, so it is in one place.. I would just stock some of this till some emergency money and than I would start to buying greater and greater "chunks"


Chocholate/gold bars
Inserted Video
Can you afford to take that chance?
  • #93
  • Jun 8, 2019 9:41am Jun 8, 2019 9:41am
Quoting bigtx
... wait. Who's the nutjob prepping for doomsday?
eeem....I that that's me?
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  • #94
  • Jun 8, 2019 12:17pm Jun 8, 2019 12:17pm
Quoting DonPato
{quote} eeem....I that that's me?
That is always smart... you know what they say.. if you wan't peace.. prepare for war
I prefer being prepared and relaxed than unprepared and "happy" but then going nuts at a first correction
Best is having both worlds, a good buffer but still enjoying the peace, not worrying, be optimistic
Either extreme is bad I think. Key is having optimal ratio, at least this is what I believe at the moment..
Here's some more about the topic...

Most of the books/guidelines suggest having GOLD.. for example, "*** 2020: The Survival Blueprint" says.. very good things about gold.. for example "TIP No. 3: Gold in the Bank" and "Yes, you should own some gold and silver…", "The best thing you can do about it is to own precious metals… "... You can find/buy the rest (of the book
Can you afford to take that chance?
  • #95
  • Jun 10, 2019 10:21am Jun 10, 2019 10:21am
Just the fact that in all of human history Gold have NEVER gone to zero, is good enough for me. It is NOT an investment that I expect to make money with, it is a "store of value" that I know will never be worthless.

So...I have my direction now, thanks to auricforecas. At least a year's worth of expenses priced in spot gold. The "FU position"

Market crashes...FU
stocks worthless...FU
Government still hasn't figured out how to add or subract? FU
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  • #96
  • Jun 10, 2019 10:34am Jun 10, 2019 10:34am
Quoting auricforecas
I would much prefer to have SOME emergency gold stored in for example "50 gram Gold CombiBar which comprises 50 detachable 1 gram gold bars."
Eh, those are pretty cool!
If you have faith in our leaders of commerce, don't buy gold.
  • #97
  • Jun 10, 2019 7:31pm Jun 10, 2019 7:31pm
Quoting DonPato
it is a "store of value" that I know will never be worthless.

That's it! I think as traders we can expect some volatility while the politicians are fumbling around and causing uncertainty though. I say keep a stash for wealth preservation and have a pot to trade while the markets are riding.
  • #98
  • Jun 10, 2019 8:48pm Jun 10, 2019 8:48pm
Quoting DonPato
The "FU position"
Love it. I can figure a few other places to use that position.
If in doubt, paddle out!
  • #99
  • Jun 11, 2019 7:50am Jun 11, 2019 7:50am
Quoting SurfsUp
Love it. I can figure a few other places to use that position.
While I'd love to take credit for this expression it is not mine...auricforecas made the comment here:
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  • #100
  • Jun 11, 2019 9:42am Jun 11, 2019 9:42am
Quoting DonPato
..auricforecas made the comment here:
Good to give proper attribution. Still an excellent way to think about things!
If in doubt, paddle out!
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