Silver and Gold
Ok, it may be a bit past the Christmas season to be talking about silver and gold. However my post will not be its place as a decoration, rather on my opinion on its investment potential this year.
I started investing in stocks a few years ago. I didn't have to much money to use but I had enough to make it work and most of all, learn from it. I don't have what you call a "balanced" porftolio at the moment. I have to admit I kind of like the speculative "penny" stocks. Lets just say that it hasn't gone well and that i lost 99.5% of my value on 2 of the stocks, so I'm trying to regain these losses and get my portfolio back in the black again. Basically I'm putting all my money (not that much) into different gold mining companies. I believe that gold and other precious metals are going to see record breaking prices as foreign demand for them increases. Gold has already broken 20 year highs ( near $550 an ounce) and I think that it will easily break $600 this spring.
I have investd some in a great gold company called GoldCorp as well as a couple other speculative mining companies that will hopefully do well this year with the price of gold continue rise. I could go on for awhile about different reasons I think gold will go up so ill just say a few quickly. With the rise in the asian demand for precious metals will boost the price of gold to a never before seen high. As demand for jewelery (and other goods that gold is used in production) rises, the price of gold will continue going up.
Gold has always been used as a place to park your money to protect it from inflation. It has held intrinsic value to people since the beginning of civilizations. If the economy goes to hell(I hope it doesn't) or inflation runs rampent or a host of other things happens, gold will be the place investors turn.
On a completley unrelated topic: I've came in 4th place in a poker tourney where the top 3 payout, it was a long drawn out battle for 3rd place and I came on the losing end twice. Not a happy camper, but hey thats poker.
I started investing in stocks a few years ago. I didn't have to much money to use but I had enough to make it work and most of all, learn from it. I don't have what you call a "balanced" porftolio at the moment. I have to admit I kind of like the speculative "penny" stocks. Lets just say that it hasn't gone well and that i lost 99.5% of my value on 2 of the stocks, so I'm trying to regain these losses and get my portfolio back in the black again. Basically I'm putting all my money (not that much) into different gold mining companies. I believe that gold and other precious metals are going to see record breaking prices as foreign demand for them increases. Gold has already broken 20 year highs ( near $550 an ounce) and I think that it will easily break $600 this spring.
I have investd some in a great gold company called GoldCorp as well as a couple other speculative mining companies that will hopefully do well this year with the price of gold continue rise. I could go on for awhile about different reasons I think gold will go up so ill just say a few quickly. With the rise in the asian demand for precious metals will boost the price of gold to a never before seen high. As demand for jewelery (and other goods that gold is used in production) rises, the price of gold will continue going up.
Gold has always been used as a place to park your money to protect it from inflation. It has held intrinsic value to people since the beginning of civilizations. If the economy goes to hell(I hope it doesn't) or inflation runs rampent or a host of other things happens, gold will be the place investors turn.
On a completley unrelated topic: I've came in 4th place in a poker tourney where the top 3 payout, it was a long drawn out battle for 3rd place and I came on the losing end twice. Not a happy camper, but hey thats poker.
posted by Vitamin Funk @ 12:11 AM
2 Comments:
At 9:17 AM,
Anonymous said…
"On a completley unrelated topic: I've came in 4th place in a poker tourney where the top 3 payout, it was a long drawn out battle for 3rd place and I came on the losing end twice. Not a happy camper, but hey thats poker."
Haha, that isn't a completley unrelated topic. You pissed your money away on gambling in both cases!
At 9:27 AM,
Anonymous said…
"I believe that gold and other precious metals are going to see record breaking prices as foreign demand for them increases. "
Ok, my drewster bashing is done, but I have a question... are you investing in gold directly? I know if one of your speculative companies finds a good mine they will go through the roof. But if gold has the potential that you say isnt that a strong and less risky investment?
Also, I am probably more risk averse than you are. If I wanted to invest with the plans to sell off in 5 years for a downpayment on a house, what sectors would you reccommend? It can't be too risky because I want to use that money for my first house.
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