Why we're so in love with gold

The recipient of a gold bracelet might treasure it forever. As an investment, it might even be worth more someday. But buy gold for love, not gain.

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VIDEO ON MSN MONEY

111Comments
Feb 19, 2013 2:19PM
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No, gold won't be valuable if our world ever came to a "Walking Dead" scenario, then again neither would much else.  But if our economy completely collapsed you bet gold would be worth something.  As it is demand for gold is rising and the higher the demand the more valuable gold becomes. 

www.bulliontradingllc.com

Feb 19, 2013 12:44PM
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Gold and Silver is the ONLY investment in world that has NEVER been worth nothing.  Gold is an insurance policy against your own government from printing worthless paper money.  Remember it is not the price of gold going up in value, it is the value of the dollar going down that drives the price of gold.

Feb 19, 2013 12:07PM
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Just recall that an ounce of gold in 1933 was worth $20. An ounce of gold now goes for about $1600. Yes, gold can have its risks but it will never be as worthless as some paper currencies. The US $ is well on its way to becoming worthless as the US Government has $16 trillion in debt and growing.
Feb 19, 2013 11:57AM
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So when the dollar becomes worthless and the economy plummets, what do you use to buy your groceries with at Albertsons? Just asking.
Feb 19, 2013 11:52AM
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Think before speaking or writing. If gold goes to nothing, what has value? Maybe it's that paper stuff every country prints. I personally would hate to think that owned a bunch of stock in companies where paper dollars had more value than gold. I sort of think none of the aforementioned would last long. Also, real estate has really been a good investment lately. Pardon my facitiousness.
Feb 19, 2013 11:48AM
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Here we go...... The MSM is already denigrating the investment value of gold. Next they will be saying, "Since it is not a good investment it certainly would be better served collected and used for NATIONAL purposes.
Feb 19, 2013 11:46AM
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1 millions tons? 

 

no

 

175 thousand tons?

 

No.

 

I don't know "where" you get these ridiculous figures from but in grad school we had to come up with this at the end of year and ALL of the gold that has EVER mined if put together would be between 140,000 & 160,000 tones 

 

I literally think the gold "is not there" for these countries to have a "call" for it.

 

And yes, you NEED to buy not only gold but Silver as well, as they just stopped minting of the Silver Eagles, silver will go up like gold did, and since costs at the mine's are going up, the cost of gold is going to go up substantially. 

I live in TX and down in Houston or San Antonio they are requiring you to be fingerprinted and a mug shot taken just to buy/sell your gold, like it’s a gun.

What is it with gold and guns that the Gov wants to have a strict tally and control over? 

 

I think that the time is coming, and they are realizing it too, to where us (the people) are going to figure out that we have been duped and that the real us debt is not even close to the publicly acknowledged figure of $14 Trillion, it is really $222 Trillion, just use the  ’s realistic long-term budget forecast -- the “Alternative Fiscal Scenario” – which you will find is now $222 trillion yourself. Last year, it was $211 trillion. The $11 trillion difference -- this year’s true federal deficit -- is 10 times larger than the official deficit and roughly as large as the entire stock of official debt in public hands.

 

 

“It is well enough that people of our nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” –

 

Henry Ford

 

Feb 19, 2013 11:29AM
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Just like anything,Gold can go up more or go down more.I believe owning A small amount in your financial portfolio is A good thing.Just don't put everything ya have in it.

  The rule is don't put all your eggs in 1 basket. Remember enron?

Feb 19, 2013 11:24AM
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I bought a bunch of gold items when gold was cheap way back when, it's funny that this story comes out when maybe a week ago I searched to see how much this 18K gold bracelet was worth today that I paid $500 for several years ago.  The bracelet is 168 grams or around 5.9 ounces, 18K white and yellow gold.  It's really too heavy to wear on a daily basis.  As of a couple of weeks ago, just for it's gold content, it is worth nearly $7000.
Feb 19, 2013 10:55AM
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The up side to gold and silver, is that the US and global economy are still struggling, and every indication is that the worst is yet to come. When investors lose faith in stocks and bonds, they will move en masse to gold and silver. The price of gold and silver have backed off their highs, so now is not a bad time to by both. However, you can't eat gold or silver. Many investors have been quietly buying long term food stores and precious metals like shooting iron, hot lead and cold steel. Gold and silver are good wealth hedges for an economic downturn, but only food, water and defensive capability will make a difference in an economic collapse. 
Feb 19, 2013 10:55AM
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Mr.' Wise Shopper' is correct... !!!!
Feb 19, 2013 10:53AM
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Silver is a much better investment than gold.  Why, because it is severly underpriced vis a vis it's traditional relationship with silver.  Traditionally silver is worth about 20 ounces to 1 gold ounce, the US gov't used to pay 17/1.  Then silver is worth around $30 and Gold approx. $1500.  That's 50/1.  So, if the dollar collapsed and silver went back to 20/1 and Gold went to $3000/ounce, well you can do the math. 

 

Thing is, which would you rather approach your grocer with, given dollars don't buy much someday, an ounce of gold worth $3000 or an ounce of silver worth $150?  One would be much more tradable and manageable than the other.  And that's the thing.  Silver has always been "money" and gold the province of the rich and aristocratic.  Silver is the more valuable metal, Gold is just a big problem for economies and individuals.

Feb 19, 2013 10:49AM
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Before you buy Gold...? What if the government calls-in all your Gold...?  Who knows and at what price..??.If you bought your Gold at  $2000.00.Per Oz. and now  the government  is paying  $200.00 , that's a loss.. Real Estate goes up and down but it is a better buy...  Calling in Gold has happened before....
Feb 19, 2013 10:37AM
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"1 million metric tons."

 

I think that tops Dr. Evils $100 billion dollars.

Feb 19, 2013 10:31AM
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"The kind of economic fears that feed higher Gold prices have faded"? You mean the kind that include a 16.6 trillion dollar debt, ---those kind of fears? Simply delusional Charlie. Tell me, where could you have put your money and make 480%?
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Guidance for fools from fools......
Feb 19, 2013 10:02AM
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You can't eat gold. Stock up on beans and bullets. Water would also help.
Feb 19, 2013 10:02AM
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Could someone explain the hold gold has on people.  It has limited utility, to soft for most metal uses, heavy and hard to store, the list goes on.  In fact corn cobs seem to have more utility and valuable uses, think about it.
Feb 19, 2013 9:59AM
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Pretty certain Charley and the gang at MSN NBC are selling gold short after reading these articles.  Or they are just angry that with all their personal financial failures and inability to know any market at all, they are just really angry that they couldn't afford a present for Valentines day.  And when their partners skin turned green from the fake they tried to pass off... uh oh.   Gold will go up with more Liddy commercials, and down with fewer.  There is also starting to be a glut in the open gold market as people are out stealing grandpas gold watch and cashing in at the pawn shop from the high prices and lower personal wealth.  More commercials to buy gold... gold goes up.  Less commercials... gold goes down.
Feb 19, 2013 9:35AM
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or just because most people are stew-ped enuf 2 need excuses for sh1t:  more equity/value now than there are things to represent it...

still waiting on the zombie apokolypse
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