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Sell your gold and buy a house, hire workers, buy grains, or send a kid to college, writes Peter...

Sell your gold and buy a house, hire workers, buy grains, or send a kid to college, writes Peter Tasker, noting the price of the metal is at multi-generational highs against these items. Recent financial instability has failed to budge the price, he says, meaning the bull market may be over and gold is back to being just another risk asset.
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Comments (24)
  • Maxfli
    , contributor
    Comments (3) | Send Message
     
    I will sell gold and gold related stocks when our budget is in balance and we are reducing our debt.
    Bob Stapelman
    7 Aug 2012, 08:21 AM Reply Like
  • remurraymd
    , contributor
    Comments (2287) | Send Message
     
    (NUGT) breaking out for us currently in 12500 shares @ $8 up 12%
    (GLD) X 5 yrs appreciating WAY better than real estate X 5 yrs
    (MER) and HSBC analysts say $2K/ounce by 2013 STAY LONG.
    7 Aug 2012, 08:25 AM Reply Like
  • Daniel Wilson
    , contributor
    Comments (75) | Send Message
     
    Gold may spend time consolidating, but the downside is somewhat limited given the actual all-in cost of producing gold, which stands at 1,200-1,400 per oz.
    7 Aug 2012, 08:38 AM Reply Like
  • Tao Jaxx
    , contributor
    Comments (1363) | Send Message
     
    Flat wrong: All in cash marginal cost of production (90th percentile)= $630 (ABN Halliburton mining report).
    7 Aug 2012, 11:39 AM Reply Like
  • Clint007
    , contributor
    Comments (539) | Send Message
     
    This article is a "You must be kidding!"

     

    Most of the people who's got gold, also own a house.
    Unless you are talking about your own family jewels.

     

    This is exactly the best time to have the gold and buying.
    7 Aug 2012, 08:43 AM Reply Like
  • Daniel Wilson
    , contributor
    Comments (75) | Send Message
     
    Follow up to my prior comment - here is a post over on Adventures in Capitalism outlining estimated all-in cost for gold production.
    http://bit.ly/MtwK1a
    7 Aug 2012, 08:59 AM Reply Like
  • Tao Jaxx
    , contributor
    Comments (1363) | Send Message
     
    He tells us this is how he "actually thinks about the price of gold". You don't have to "think" about the price.
    Go to reliable mining sources (ABN Halliburton). $630 all in marginal cash cost.
    7 Aug 2012, 11:42 AM Reply Like
  • lwhittin
    , contributor
    Comments (10) | Send Message
     
    Why are there no pundits that take a long term view? Moment to moment micromanaging is not the way to approach investment in gold or anything else.

     

    Social, political and economic fundamentals all indicate situations that cannot be sustained long term. We have allowed politicians and captains of industry to create a set of circumstances that can have no good end. It might take a while to play out but it will. And it won't be pretty. In five years, ten years or 15 years, gold will still be worth its weight in gold. Fiat currency most certainly will not.

     

    As long as the Fed and the ECB are open and doing business, those thinking long term will keep buying gold.
    7 Aug 2012, 09:20 AM Reply Like
  • goldmember steve
    , contributor
    Comments (63) | Send Message
     
    Haha OK then tell Obama, Benanke and the Eurpean crowd to stop devaluing fiat currencies world wide by wreckless monetary printing.
    7 Aug 2012, 10:00 AM Reply Like
  • Clint007
    , contributor
    Comments (539) | Send Message
     
    For your information, what you mention is only peanuts in the world currency problem. You forget to mention Bush as one of the main cause of the US debt.
    7 Aug 2012, 11:14 AM Reply Like
  • goldmember steve
    , contributor
    Comments (63) | Send Message
     
    I dont care if its Bush or the man from the moon. Obama is in control now and hes just as wreckless as any body before him.
    7 Aug 2012, 01:14 PM Reply Like
  • raid0072
    , contributor
    Comments (5) | Send Message
     
    Gold not politics nothing can undo what has been done
    7 Aug 2012, 03:13 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1366) | Send Message
     
    goldmember ,

     

    .. yup' , how long are they going to keep flogging president '' BUSH'', ..INTO THE NEXT TERM FOR ''IT IS NOT MY FAULT '' obama''

     

    pitiful !
    7 Aug 2012, 08:37 PM Reply Like
  • pishon
    , contributor
    Comments (35) | Send Message
     
    The monetary base (total # of dollars) in 2008 was .8 trillion. Now, due to "money printing" the base is 3.2 trillion and climbing. So what is money worth? Gold is the only real standard we have left. I'm keeping mine.
    7 Aug 2012, 10:06 AM Reply Like
  • htmortimer
    , contributor
    Comments (107) | Send Message
     
    Anyone who thinks that the developed world will be able to pay off all of its debts without defaulting should definitely sell gold. Those who feel otherwise should buy gold if they have none. When the debt starts defaulting all debt will become suspect including the debt issued by the central banks that is otherwise known as cash or currency.
    7 Aug 2012, 11:17 AM Reply Like
  • 55mph
    , contributor
    Comments (82) | Send Message
     
    thanks for all the comments. pishon: is that .8 trillion in 2008 # for dollars in circulation correct? it sound low...
    7 Aug 2012, 12:20 PM Reply Like
  • raid0072
    , contributor
    Comments (5) | Send Message
     
    BULL. That's wrong as can bee. Peaks and valleys. Hedge off now as price drops to balance out any over payments. Once the elections are over so will the free-fall of the price of gold. Of course any broker wants you to believe differently. Do your own thing and not listen,
    7 Aug 2012, 03:12 PM Reply Like
  • raid0072
    , contributor
    Comments (5) | Send Message
     
    If you believe this to be true, can I interest you in investing in my synthetic gold production plant? I only accept payment in hard cash.....
    Wait and see how China backs their currency soon. They must really hate the metal since you cannot sell Gold mined in China any one else but the government. I guess the do that to protect the public from buying the "worthless" metal; better to collect their undervalued currency than gold..... (snicker, snicker...)
    7 Aug 2012, 03:23 PM Reply Like
  • winningtrader
    , contributor
    Comments (2476) | Send Message
     
    There is an even better idea ... sell your bonds and stocks and try to do what the article says, while keeping your gold. The bull market has only started.
    7 Aug 2012, 03:33 PM Reply Like
  • Clint007
    , contributor
    Comments (539) | Send Message
     
    The GOLD bull market is not even started yet, no frenzy buying yet.
    7 Aug 2012, 04:11 PM Reply Like
  • gh1616
    , contributor
    Comments (452) | Send Message
     
    Few if any will comply with Tasker's challenge. Its nonsense written to invoke a response.

     

    Look at a chart of GLD. Almost one year solid support above $150 which has been challenged many times & successfully held. Near Term resistance is $160 so it is simply basing. A catalyst will resolve this up or down. It is very difficult I believe to make a cogent case for a catalyst to drive gold down given economic headwinds.
    7 Aug 2012, 10:20 PM Reply Like
  • jvs3
    , contributor
    Comments (4) | Send Message
     
    I am not a gold guru but I own some and have some stock in silver and gold..To me that is common sense. I have a home and my children are educated and have careers. Sure once the election is over there may be a bull market for a time but the fundamentals of our debt laden system will correct itself and people will buy more gold. Those who could not afford it will make money under the Republicans and buy some for the first time. Our debt will not go away it is too late. My background is in Theology and gold will play a great part in survival for awhile until the greates fraud of all time brings in a cashless society after fiat currency collapses. I will keep my gold and my Bible and when the Lord calls up His children I will not need my gold...I will leave it for those who love fiat currency.
    16 Aug 2012, 04:32 PM Reply Like
  • Clint007
    , contributor
    Comments (539) | Send Message
     
    On your first line, you seem intelligent until you mention your religious "problem".
    17 Aug 2012, 10:33 AM Reply Like
  • godalmightee13
    , contributor
    Comments (526) | Send Message
     
    God works in mysterious ways Cint007 Ha Ha lol
    18 Aug 2012, 06:20 AM Reply Like
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