Comments on: Gold, Golder, Goldest?

By: is new jerssey a community property state

is new jerssey a community property state — Fri, 10 Jul 2009 06:46:32 +0000

Is it new jerssey a community property state?any ideas?

By: Steve Bell

Steve Bell — Wed, 14 Jan 2009 15:26:37 +0000

Talk about rants. But glad to see you understand gold is but another commodity.
One point you are slightly in error on though is that dealers do not “hold” gold at the top (or bottom), they hedge it until they can sell it. At a mark-up.
Like you said, it is a business so they don’t take a risk. $20 below spot on the buy, $50 above on the sell and keep it hedged so you don’t care where the price goes.
By the way, the premium is dictated by how much demand there is for the gold, not a constant % of the value.

By: destry

destry — Wed, 14 Jan 2009 14:38:31 +0000

People; It’s time for some of you to get over yourselves, and go vent with “Dear Abby”…And some others to go trolling for new clients in a different forest…

Tough times…You bet!…
Cash is “King”…No it isn’t; And hasn’t been since 1913, if ever…
If nightcrawlers could be produced in as great a quanity as USD’s…
Someone would be chorteling that
“nightcrawlers” were “King”….
“Buy and Hold”, is passe, and only
losers and dolts don’t know it.
Horse-Hockey!….That myth is screamed by those making a damn fine living, churning accounts legally, if not always ethicilly.
Go sell short-term stategies only, to the horse marines…Or to your
elderly parents and relatives, who
live off the dividends of their Dupont, or Lockhead, Exxon, Ge…
And were doing so long before you people “Discovered” the investment world.
Cash is a “convenience”….
Gold and Silver et al, are not….
They’re by-products of mining for other commodities for the most part (But not always)….
The buying and selling of precious metals, as as viable a business, as the selling of anything else…
Except that the dealers will hold gold bought at the top of the market forever, rather than take a loss…Hence, when gold prices drop…The retail market dries up……….Unless more is minted or brought to market at lower prices.
If you are suspicious or ignorant
about precious metals…Collect stamps…I mean that…More is made on stamp collecting, than in rare coins…
Now…Let’s get back to the thrill of “sleuthing”, and leave personal
anxieties at the door.

In the words of that great American philosopher; Richard Pryor…”‘Straight up the middle;And no excuses”!

By: Steve Bell

Steve Bell — Tue, 13 Jan 2009 22:09:21 +0000

I agree, people want it. Give the people what they want. As a broker, that is what I did, too.

I also will buy all the gold I can. As long as I can buy it for under spot. No, they are not dumb. They buy gold at under spot and hedge it in the futures market until they can sell it for $50 over spot to some smuck who will then sell it back to them for $50 under spot when he needs dollars. Then they do it all over again.
I think they call it a business or something like that.

What, you think they are buying and socking it away?
If so, they can call Kitco and get all they want. At a premium.
And since gold is now $820 an ounce, even with a $50 premium they would still be getting a bargin if it was going to $2,000 as some predict. And at that price it is still $13 less than some traders paid for it on Comex just last week with no mark up!

You gettin’ it yet? It is just a commodity for buying and selling and speculating. If it was something more then it would be priceless and not going down in value as it has for the last three days.

By: Steve G

Steve G — Tue, 13 Jan 2009 21:38:19 +0000

It’s true that there is a big premium to buy/sell gold but why do you think that’s so? People want it, LOL.

BTW, newspapers in my area have run ads daily for months offering to buy everything from my gold teeth to gold sorority pins. Are they the “dumb money”? I doubt it.