A question by Doug : I guess just back off till it drops some more? What do you say? ?
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“If you want the most gold, dollar cost averaging continues to work. Put in the same dollar amount each month.
If you want to ride the long-term price of gold, the dollar was at $25 dollars per ounce in 1929. Comparing that to the price today makes it clear the long-term trend is up. But that suggests a dollar cost averaging approach anyways.
If you want to ride the short-term swings there are all sorts of quantitative methods, none of which work. May as well pick one and go for it.
My longer-term play is silver. The industrial consumption has exceeded the mining supply for decades. For millennia gold hovered near 13-20 times the price of silver. For one century gold has been 50-100 times the price of gold. Eventually silver needs to go up it’s just a question of will I be alive when it happens.”
“As I’ve been posting on here for years, gold has been in a cyclical bear market since Sept. 2011, and it should decline for another year or 2 to about the $1200 level. Actually, I’m predicting that China will continue selling off treasuries and bond prices will eventually plummet, I don’t have an exact time frame but I think any time is a good time to buy gold before that happens, as gold will be the only safe haven left.”
The price of gold has fallen by almost half since it reached nearly $2,000 per ounce four monts ago. So, think, just back off till it drops some more. Gold is a hedge for other investments against runaway inflation.