News How many of you invested in Gold and now regret it?

Discussion in 'The Howard Stern Show' started by dawg, Jul 20, 2015.

  1. dawg

    dawg In The Dog House Staff Member

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    Price of Gold Falls to Lowest Level in Five Years

    WireAP_2090e902c35b47b6a50d356656735128_16x9_992.jpg

    Investors are running out of reasons to own gold.

    The price of the metal, which is often seen as a hedge against inflation and a weak dollar, slumped to its lowest in five years on Monday.

    The dollar has rallied in recent months, diminishing the allure of holding gold. The U.S. economy has been on firmer footing, and tumult in China's markets and Greece's debt crisis have failed to restore gold's appeal as a safe haven.

    The price of gold had surged in the years immediately after the 2008 financial crisis, topping out at nearly $1,900 an ounce in August 2011, as investors anticipated that the Federal Reserve's ultra-low interest rate policy and huge bond-buying program would undermine the dollar and lead to inflation.

    That scenario didn't pan out.

    Instead, inflation has remained subdued and the economy maintained its recovery, albeit at an uneven pace. That has boosted demand for the dollar.

    On Monday the price of gold sank another $25 to $1,106 an ounce. That's about 40 percent below its recent peak and the lowest price since March 2010.

    "For past several weeks (gold) has been on the defensive because of the stronger dollar," said Jim Steel, chief precious metals analyst at HSBC in New York.

    When investors are worried about the outlook for the U.S. and the global economy, they tend to favor gold, Steel said. But when the U.S. stock and bond markets are strong, as they are now, investors don't really see a reason to hold gold which, unlike stocks and bonds, doesn't produce any income.

    The dollar is strengthening as the Fed moves closer to raising interest rates for the first time in almost a decade. The prospect of rising interest rates and higher yielding U.S. assets has boosted the allure of the U.S. currency against other major currencies such as the euro and the Japanese yen.

    The dollar has surged 21 percent against a basket of major currencies over the last year as central banks in both Europe and Japan have kept using economic stimulus to try and strengthen their economies. While the Fed is considering rate increases, interest rates will likely stay low in these regions for some time to come.

    Fed Chair Janet Yellen has maintained that the central bank will probably raise its benchmark interest rate later this year if the economy continues to improve. She reaffirmed that view during a report to Congress last week. The Fed's benchmark interest rate has been near zero since December 2008.

    Gold's allure as a store of value in times of crisis also appears to be fading. Neither the recent stock market crash in China nor the Greek debt crisis succeeded in restoring the appeal of gold.
     
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  2. smichal

    smichal A1 Dick Game

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    it's ok
    it is up overall

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  3. DiamondGoddess

    DiamondGoddess Born Ready for My Close-Up! Gold

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    No regrets here!!!

    Everything fluctuates.

    I still buy gold.
     
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  4. LawyerLarry

    LawyerLarry Mr. Fuckmoney in the Bank VIP

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    My gold belts appreciate every single day.
     
  5. Droog

    Droog Well-Known Member VIP

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    Gold was foolishly high for a long time. $1900 for an ounce? Please. At $1100, it's closer to where it should be. What pisses me off is that platinum used to be more expensive than gold and got passed by a good clip. I was planning on retiring off our rings! :jj:
     
  6. broccoli rob

    broccoli rob thanks for the memories DW3

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  7. dawg

    dawg In The Dog House Staff Member

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    If you bought a bunch of gold in the 80's you are pretty happy right now.
     
  8. Pickle Jar

    Pickle Jar Well-Known Member

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    Gold sucks
     
  9. AcquiringSignal

    AcquiringSignal Girthy VIP

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  10. JRoyle411

    JRoyle411 I want to live in a hamburger bun.

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    My slightly "crazy" father invested in gold in the 70's.....when he died it was passed down to me.....I have been buying gold myself since the early 2000's......overall I am very happy with the experience. I have no doubts that gold will climb again as the dollar continues to be devalued.
     
  11. Goods

    Goods Well-Known Member

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    I bought 17 ounces back when it was $600-800 an ounce. I still own them. I don't say I regret it, but I would have done much better investing in almost anything else.
     
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  12. dawg

    dawg In The Dog House Staff Member

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    As long as history does not repeat itself?
    prh_01_img0065.jpg
     
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  13. Droog

    Droog Well-Known Member VIP

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    I have the twist-o-flex by Speidel and I appreciate it more every day.

    [​IMG]
     
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  14. Scotty4x4

    Scotty4x4 Light It Up Blue!! Staff Member

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    I like the ability to rep 150 points at a time, so I would buy Gold again :coffee:
     
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  15. BethSucks

    BethSucks Well-Known Member Staff Member

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    There are worse purchases some things just suck and suck.......

    [​IMG]

    @Schmoopy
     
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  16. dawg

    dawg In The Dog House Staff Member

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    That's some investment right there.
     
  17. Napoleon V

    Napoleon V Swagggggg. ! !!!!!!!! !!!!! Banned User

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    [​IMG]
     
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  18. BrulesRules

    BrulesRules Just grab 'em in the biscuits VIP

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    fucking Hoffmans can't do anything right!

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  19. JRoyle411

    JRoyle411 I want to live in a hamburger bun.

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    Considering how little I have personally invested as most of it was willed to me.....I'm good no matter what happens. It's shiny....fun to look at and people want to occasionally give me more than it's worth for certain coins and things.
     
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  20. Goods

    Goods Well-Known Member

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    Make me an offer.

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