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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 09/28/2009 : 20:30:08
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---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Nickelless
Administrator
USA
5580 Posts |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 10/05/2009 : 20:18:03
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"Everyone into Gold has heard it many times and some, like me, want to scream every time some mainstream financial analyst puts this comment into one of their articles or commentaries. It must be part of the Wall Street and financial planner training manual. It goes something like this, for those who haven't heard or seen it yet: "Gold was $850/ounce in 1980 and in 2009 it is only around $850/ounce."
What makes me want to scream (or at least yell out loud) is the fact gold was $850 for only one day! You can check this out for yourself from kitco.com under historical data gold prices.
During December 1979 gold averaged $455.08, January 1980 gold's average, even with the one day spike, was $675.31. It stayed in the $480-$690 range for the rest of 1980.
I do agree with the arguement that the 'buy-and-hold' strategy should be 'buy-and-hold-but-don't-hold-forever-sell-someday' strategy.
Exit strategies are more important than entrance strategies. |
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Gold was $850 in 1980
Forum Locked
Like someone said in another link I posted somewhere here on the board, once inflation starts to take off and paper money is worthless, people will figure out the value of gold very quickly.
