Top
Advertisement

Price of gold

Several months ago, thad and several others were talking about how, due to the economy in the shitter and no confidence in leadership, we should invest in gold.  I said that jumping on the gold bandwagon when it was at an unprecidented high was a bad move.  You don't jump into a commodity when it's selling for more than it ever has before.

 

I was soundly and roundly mocked.  It was also suggested that I had no idea how commodities were traded.  Several weeks after my assertation, gold continued to rise.  I believe it was Gnome who made a jab at me that time.

 

Well, if you invested $10,000 in gold when thad suggested it, you'd have $9,000 right now.  You might still want to dump it and take your $1,000 loss because it's still dropping.

 

If you bought gold when thad said and wanted to turn a profit, you had less than a month to do it.  It maxed out around the first of the year at over $1,250/ounce.  It's gotten as low as $1,050 lately and is right around $1,100/ounce as I'm typing.

 

http://www.monex.com/prods/gold_chart.html

 

Just saying...

5
Ratings
  • 1,481 Views
  • 18 Comments
  • 0 Favorites
  • Flag
  • Flip
  • Pin It

18 Comments

  • Advertisement