streetTRACKS Gold Shares (GLD)

All Comments on GLD

  • commenter
    BxCapricorn
    Oct 11 06:09 PM
    Is Gold A Sucker's Bet? [view article]
    As "Not Sure" detailed so well, the author is a contrary indicator, and I'm looking forward to the rise in PM value. Thanks in advance, AB. Reply
  • commenter
    Msrpaul
    Oct 11 06:00 PM
    Is Gold A Sucker's Bet? [view article]
    Bankers hate gold Governments hate gold. They hate it because it is and always has been money. In good times, it's the rich mans idolatry. But in times of insecurity, it's everymans agreed form of real money, for one simple reason. Unlike FIAT currency, it can't be printed, it has to be mined, at considerable cost. It has been money culturally for thousands of years. The only difference is how many pieces of paper you're willing to trade it for.

    You predict gold will fall, and it may. But your prediction is correlation to other commodities, which have industrial or consumptive value, that of course are tradeable for those pieces of paper, and in hard times, supply exceeds demand. Every governments response to such circumstance is the same. Print more paper to make people feel wealthy so they borrow and spend. But human behavior is different than that. In deflationary times, people avoid debt, consume less, and spend more time with family. Good for humanity, bad for economy.

    The problem is, over time, the public grows to mistrust governments everywhere who use the printing press as a solution to bail out the corrupt. Gold is the one thing that equalizes the equation of citizens against their government. That's why it was illegal to own in the free USA for so many years.

    Yes, governments through their central banks, because they know that as nation to nation, just as citizen to government, gold is money. It's why the Nazi's robbed very central bank in WW2. DO you think the Swiss were going to make tanks and ship them to Germany for marks?

    Nope. Only gold shines in hard times.

    There are times when I may choose not to go long gold, but I would NEVER short it. (neither would I short energy or food). Step aside if you think it is overvalued. But shorting any of these 3 is Russian roulette. It gold falls to 800, I'm bying. I'll buy more at 750. At 650, I'll gladly trade all my dollars in for gold. Because the government always responds to deflation the same way. print print print print     Reply
  • commenter
    Not Sure
    Oct 11 05:39 PM
    Is Gold A Sucker's Bet? [view article]
    Some of Alan's past articles from this year include:
    1)Chevron: Good Choice for Conservative Growth Investor, on Jul 23;
    2)A Perfect Storm: Retail Is a Buy, on Sep 02;
    3)Will the Energy Exodus Fuel a Consumer Stock Frenzy? on Sep 11;
    4)Time to Look At Conservative Growth Stocks, on Sep 22;
    and my personal favorite!
    5)9 Reasons Why We Are Close to, If Not Past, the Bottom, on Sep 28.
    Note that in one of his articles he admits to owning Fannie Mae (FMN) as it fell under conservatorship. I'm not sure about this guy.
     Reply
  • commenter
    4263mike
    Oct 11 05:32 PM
    Is Gold A Sucker's Bet? [view article]
    Forgot my conclusion. I agree, the foreign countries will love our gold and tell us where to stick our paper dollars. Reply
  • commenter
    BxCapricorn
    Oct 11 05:32 PM
    Is Gold A Sucker's Bet? [view article]
    Central Banks are not selling their gold reserves any longer. Why? The same reason that gold, silver and energy plummeted at 2pm EST on Friday, when the margin clerks forced the sell. This is the last thing a hedge fund or broker would sell under pressure. They sold everything else first, and these items last. How do we know? If Friday was not the "final capitulation", then I am wrong. As a clarification, I am not including market indexes (filled with about-to-be slaughtered financial stocks) as the reference. I'm using the various collection of commodity indexes found on Bloomberg.

    www.bloomberg.com/mark...

    Even oil sold off before gold. Strange, no?     Reply
  • commenter
    4263mike
    Oct 11 05:27 PM
    Is Gold A Sucker's Bet? [view article]
    If things get really bad, I will trade all my gold coins in for a shotgun and all the slugs I can get. I know that is nonsense to even think of but what isn't nonsense and everybody isn't addressing is that the credit party is over. Once all this toxic paper has been cleared up and the housing and credit card businesses stabilize, there is going to changes. The USA is putting a lot of hurt on the entire globe and we no longer have the resources to jam it down their throats. Just look at us. Our military is spending Billions per week and unable to make much progress in the 21st century warfare game. We are at the mercy of of foreign energy suppliers and it doesn't look like we will ever become self sufficient. GM, Ford, GE; they peaked many years ago and are in a slow death spiral. Etc. Etc. So, what do we manufacture to sell the the world - - toxic debt paper. I think a trip to the wood shed is already in the making and it won't feel good for the average US citizen. GOD help us. Reply
  • commenter
    Facts
    Oct 11 05:26 PM
    Is Gold A Sucker's Bet? [view article]
    Since 1972 the DOW is up 8.5 times and Gold is up 25 times. Gold quietly preserves wealth through time. 'Nuf said! Reply
  • commenter
    cruiser9805
    Oct 11 05:15 PM
    My Website
    Is Gold A Sucker's Bet? [view article]
    If gold is so useless why does the US have 262 million ounces in their vaults? Why does the Federal Reserve keep other countries gold stores in their vault in NY? Gold is a type of currency onto itself, it's a fallback. Right now China, India and Russia barely have any gold reserves. You will soon be seeing Gold buying by these countries as a shore to their currency.
    I think you have the wrong concept on gold, it's not a commodity, it's an alternate currency. Just like the dollar value, it fluctuates on demand.     Reply
  • commenter
    4263mike
    Oct 11 05:08 PM
    Gold Prices Keep Getting Fishier [view article]
    Before you concoct conspiracy/manipulatio... theories, don't forget that the mints are government run operations. Do you really think they can respond quickly to a large increase in demand? They turned in their 2008 volume plans probably in early 2007 or maybe way back in 2006. They have some flexibility but after all, they are not a slim and trim private enterprise that can react at light speed. I can just imagine how difficult it would be to make a large increase in the number of American Eagles they plan to stamp out. Honestly folks, I don't see any fire behind that particular puff of smoke.
    I've been investing in gold for over 30 years and I'm clueless about what is going on right now but it all looks unstable to me. Everything looks like the price is about to explode. Up or down? The simple fact that price is being contained through out all this crises/near panic makes me leans toward a free fall in price. "Hope" not but I'm still looking for data/logic to at least give me a clue. Looking at coin shortages is a waste of time.     Reply
  • commenter
    Dame Daxx
    Oct 11 05:06 PM
    Is Gold A Sucker's Bet? [view article]
    China said last month that it intends to diversify its foreign exchange holding, adding to Gold. Among the areas forecast for the greatest growth in are the Middle East and India, both areas that have an historic affinity for Gold.

    Gold is whack and it's never going back.     Reply
  • commenter
    moonbat1775
    Oct 11 05:05 PM
    Is Gold A Sucker's Bet? [view article]
    "If things go really bad gold will have no use because gold coins are easily counterfeited" Wefwef

    I suspect a fool proof coin analyzer exists or soon will. But keep talking, I haven't stocked up yet.



     Reply
  • commenter
    CLH
    Oct 11 05:03 PM
    Gold Prices Keep Getting Fishier [view article]
    The amount of physical gold sold is very tiny and has no meaning. The smart people are selling gold as the dollar soars. Reply
  • commenter
    Wefwef
    Oct 11 04:55 PM
    Is Gold A Sucker's Bet? [view article]
    Gold has two values: the actual use value in industry, and speculative value. As the former is less than 1/10th of the latter, it's a pretty poor investment, relying on the greater fool theory.

    If things go really bad gold will have no use because gold coins are easily counterfeited, the trust issue will prohibit gold use. You can't eat it, it won't keep you warm on cold nights, it won't guard your safety, but every moron in the world will want to rob you of it without regard to your life.

    Gold coins can be a reasonable investment if you derive value of your collection and have the means to display and examine them properly, bringing you pirate lord's joy. Just don't ever expect to make an actual profit from them because most probably you were the greatest fool.
    Reply
  • commenter
    4263mike
    Oct 11 04:47 PM
    Is Gold A Sucker's Bet? [view article]
    Alan and CLH, The last I checked my US dollar bill wasn't backed by anything. Sort of looks like you forgot about the $100"s of Billions being given out to financial begging community which is quickly turning into Trillions of $$. AND, where do you think all those dollars are coming from. Yep, your are right, gold has no industrial value and at least at some time in the future you can burn your dollars in the fire place to help keep you warm. Seriously, as the printing presses are working overtime cranking out dollars, their value has to drop. Keep in mind that the purchasing value of the dollar has already dropped somewhere around 90% in the last 50 years.
    So if everything is dropping in value including a barrel of oil which is now almost 50% below its high from just a few month ago, where do folks stash their savings/wealth to protect themselves? It may well be a question of what drops the least but for sure, there is not a single person on the face of this planet that knows the answer. At some point in the future when a dollar is valued far less than it is today, gold may be down or may be up from where it is today but since the alchemists still haven't figured out how to make gold out of something of little value, (ie: paper) , I tend to "feel" that 10,000 years of human history that has always valued this precious metal is a better bet than paper.

    The other alternative is to go to Vegas and gamble all your dollars there in hopes of maybe a 100 to 1 winning record so that you have enough dollars to weather out any storm. Probably about them same probability as guessing what will happen to the market in the next few years.     Reply
  • commenter
    Tyler J
    Oct 11 04:26 PM
    Is Gold A Sucker's Bet? [view article]
    Alan Brochstein looks like a typical wall street banker... Reply
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