Gold. Hold or sell?
Over the years, I’ve purchased a substantial amount of gold. It is in the form of American Eagles, Canadian Maple Leafs and 1 oz Pamp Suisse. Think is it time to sell or do you think it will hit $1,000.00 or higher (I’ve seen projections of $2,000)?
Pamp Suisse 5 Gram .9999 Pure Gold Bullion Bar
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Comments
Nobody knows for sure. I remember several months back the guy who is the foremost expert on gold predicting the price was going to start heading back down. That was when it was at around $650. Then there are people saying it’s going to $1000. I would sell it incrementally over time, that way you can average your selling price out. You won’t get the highest price, but you won’t get the lowest price either. Good job on your investment.
Hold out for $1000. It’s not far off. Or.. sell half and buy silver. Silver makes it’s move towards the end of gold’s run.
There’s nothing wrong with taking (some) profit. Take 10 – 20 even 50% profit if it’s there, and enjoy the ride with the rest while you can. That profit off the top now, will give you added revenue to by more when gold pulles back or reinvest it in other sectors.
if you don’t really need the money, then hold. i have bought and continue to buy Krugerrands, and i have no intention of selling, unless all my paper assets turn to dust.
even if you think back to the last time in 1980 that gold spiked at $850, adjusted for inflation that’s at least $2200 today, so i think gold has a while to go. you may actually do better in silver for the intermediate term, since the gold/silver ratio is historically high. silver seems to be relatively undervalued, so i expect it to have more upside potential.
in any case i devote only about 5-10% of my income/net worth to gold, and consider it to be my “golden anchor” or “wealth insurance” which is never sold.
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