these guys are paying essentially spot

http://www.apmex.com/Product/11934/1..._999_Fine.aspx

Except for all the b.s. posts, back & forth prop bet wagering & people acting like 12yr olds in the playground, it has been pretty interesting, with gold at $1800 & silver $40, to go back & read the past several years of this thread.

However, I wish the discussions in this thread would have been more similar to the OP's title (gold, COMMODITY, ALTERNATIVE CURRENCY & ASSET INVESTMENT thread) and not 95% all about gold & silver.

I was talking to a poker playing friend telling them they should put the bottom % of their cash bankroll into something liquid like gold

Let's say you want to diversify, what's something else he can buy for cash that has a semi inverse relationship to gold

Like an Index fund stock but something u can buy and sell for paper cash

.

Gold is getting beaten up a bit. Gold is coming back to the trend line and Europe is rattling the markets. Investors are liquidating their positions and I expect gold to fall a little more before bouncing back. There is a good buying opportunity here. Gold closer to $2000 by the end of the year imo.

Gold trading weird lately. It seems to be tracking the equity markets, which means that investors are seeing it less as a safe haven and more as a speculative play. I think the one inverse relationship that has held strong is the dollar.

Huh? was asking for something with an inverse relationship to the dollar

you actually said inverse relationship to gold. but for inverse relationship to dollar, how bout australlian dollar?

Sry hadn't read thread in a while and was vert late
Apologies

Now you can get your gold from ATM. Interesting to see if it will work.
http://money.uk.msn.com/blog/pounds-...a-f859354254b2


Gold and diamond ATM launched in India
Indian firm the Git****** group has launched what it claims is a worldwide first – an ATM that sells gold and diamonds.
Posted by Money team 28 October 2011 14:46
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Next time you're in Mumbai and you fancy some silver or gold or jewellery, you don't need to go to a jeweller's. The Git****** group has launched the world's first ATM dispensing gold and silver bars and coins, as well as a range of diamond-studded jewellery.

Prices will range from as little as 1,000 rupees (£13) to 30,000 rupees (£382), and customers can buy the products by cash or credit/debit card.

The company is reportedly planning 75 of the ATMs in shopping centres, airports and even temples.

Sanjeev Agarwal, CEO of the Git****** Export Corporation, says: “It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days. But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday!”

Given that the price of precious metals such as gold and silver has soared in recent years, though, it might be that this idea takes off elsewhere. You can already buy gold from vending-style machines in both Japan and China.

Will we start seeing investors check the spot price on their smartphone and, if it takes their fancy, nip to the ATM to buy an armful of gold?

The first gold ATM was in Saudi Arabia like two years ago IIRC.

The markups are outrageously hi on the ATMs

Would be sick to buy a bunch below spot tho !

lol MFG

What would the effect of a default by Greece have on pm's?

It appears that the sell-off in gold today was due to the bad news in Europe.

If you believe that the single european currency will break up, would this make pm's fall short-term? Would the long-term upward trend come to an end or would this be seen as bullish?

I recently came into some money that I need to invest (low-to-mid six figures $US), currently deposited in my bank account and being eaten by inflation. So I'd like to move this into precious metals. Primarily gold along with some silver, but I'm open to investing in other metals as well if there's a good reason to do so. I already have a small amount of physical gold and silver and I may acquire more, but I'm planning to make the majority of the investment on goldmoney.com.

Possibly relevant details. I'm in my late 30s and unmarried, no kids. I don't anticipate needing to dip into these funds for many years so I'm looking at this as a long-term investment. Currently in Michigan but I'm planning to move within the next 6 months or so, and eventually I may move out of the US, in which case I think trying to move physical gold/silver out of the country would be a huge pain in the ass (and probably expensive). Although really I don't know how that would work or what the regulations are, so maybe it's easier than I think. Whereas accessing my holdings in another country shouldn't be much of a problem if I had them on a goldmoney account - but again, I don't know what the relevant regulations on that are.

So I'm looking for advice on a few things:
1. Has anyone here had positive or negative experiences with goldmoney.com? Is there another company that would be better for the investment I'm considering?
2. Thoughts on how to balance the investment between gold and silver, or possibly another metal I should be buying instead. Goldmoney also lists platinum and palladium, should I get involved with either of those?
3. Anything I might need to know about handling a move overseas with regard to precious metals investing?

You realize gold doesn't create any value and you are not investing in gold, you are speculating in gold. Why not go with TIPS to protect yourself from inflation?

I have to admit I don't know much about investing, so I had to look up TIPS. But here's what I found:

http://www.investopedia.com/terms/t/...#axzz1gFkV2mHS
Lets just say "backed by the US government" doesn't inspire a lot of confidence for me. There's a reason I posted in this thread and not the stickied "I have money to invest" thread. I'm looking specifically to invest in precious metals. Here's how I see it. Holding cash long-term is clearly terrible because fiat currencies are inflationary. The FED is authorized to run a counterfeiting operation, which the government uses to fund itself surreptitiously as a backdoor tax on currency holders, and then government funded economists speak about inflation as if its some mysterious force of nature. If we had sound money people like me (who don't really know much about investing) wouldn't have to invest, we could just hold our money and that would work out ok. It wouldn't have an inherent tendency to lose value over time. But it does, because fiat currency is a scam, so it's necessary to invest in some way to mitigate the effects of governmental theft as much as possible.

All I'm really expecting out of a precious metals investment is that my money can more or less keep its value over the long-term (with plenty of short-term fluctuation of course, but at least it isn't inflationary). I would just like my money to not steadily disappear. I don't claim to know where the gold and silver markets are headed. If 20 years down the line or whatever, I still have more or less the same purchasing power as what I started with, I'm ok with that. Maybe there are better investments available but I don't feel confident in picking winners from losers so I'd just like to stay out of that arena.

On the other hand, if there's reason to believe goldmoney is shady or unreliable, I'd definitely like to know about that.

Because TIPS do not protect you from inflation.

I know nothing about goldmoney.com so sorry I can't comment positively or negatively on your specific question about them.

And I won't give my investing advice (because it'd mirror what you clearly don't want to follow, passively managed index funds with an emphasis on keeping costs low).

The only helpful input I think I can say, is please be aware that gold and silver are "printed" just like fiat currencies are. While a currency (like the dollar) is literally printed out of thin air, gold and silver are mined. Which puts pressure on the supply/demand.

According to kitco, (they're a precious metals dealer, so the numbers they choose to use are biased in favor of the bulls) there is currently 200 million ounces of "too much" silver mined each year.

Meaning when you factor for photography, silverware, jewlerly, etc. There is still 200 million "extra" ounces of silver each year that's going to effect the supply/demand balance. So be careful, you might just be fleeing one type of "printing" for another.

Source: http://www.kitco.com/charts/CPM_silver.html

@ Evil Steve, i would caution you gainst putting the majority of your money in precious metals. As you said yourself you have little experience as an investor. I urge you to talk to an independent (paid by the hour) financial advisor. Who can help you how to allocate capital.
Putting a large amount to precious metals is very unconventional. And because the huge recent runup (trouncing inflation) there is a risk gold will revert back to lower prices. Even though in general gold is an inflation hedge, for you it might not be from now on. i wouldn't put my faith in it.

I really hope you listen to this advice Steve.

Based on what I posted, it would appear that I'm planning to put almost all my savings into precious metals, but this is not the case. I already have substantial holdings on the stock market and my account is being managed by a financial advisor (the same guy my father uses for his account) in what I believe would qualify as a "conventional" manner. I still don't consider myself knowledgeable as an investor, and I've never taken an active role in these investments, but it's not a situation where I'm planning to go all-in on precious metals. So if gold and silver crash it would be unfortunate for me, and obviously I wouldn't be doing this if that was my expectation, but it wouldn't be catastrophic either.

ok cool Steve. as a small part i am not so much against it since it is negatively correlated with stocks, good luck.

late yesterday i put on a short GLD. nothing to do with my advice, but thought i mention it, so it doesnt look like that's the reason im advising against it.

These two clowns are probably starving in their respective bunkers somewhere, but in case they still read these forums under different screen names: bump.