Originally Posted by
unknownk
What the heck are you talking about? Nobody wanted gold before the economy took a dump, gold was barely over $300 for years. People who hoarded during the last peak of $800 HAVE NEVER MADE THEIR MONEY BACK. You sound like the people saying home prices will always go up, guess what they won't.
When the US Government made it illegal to hoard gold, gold prices stayed stable at $30 per ounce for decades. During that time the only legal way you could own gold was to own legitimate collectors coins, or jewelry or other things of an artistic nature.
Gold has inspired millions of people to migrate thousands of miles in order to just simply have the chance to collect or mine it.
It has been the cause, and rise of more civilizations than any other single reason
It has been used as decoration for thousands of years
It is one of the only metals that can be found in it's crystal form, in nuggets, etc
It has been used as currency for thousands of years
I could go on and on, I am sure the people posting on this thread already realize these things. Gold prices always go up. Gold is always in demand, there is always more demand than supply thus there is an entire industry built around recycling gold.
When gold goes down in price, there is one constant that has always rang true, gold will eventually go back up in price again. All you have to do, to realize this fact, is to look at the history of gold and what it's sold for in the past.
I'm not sure what currency you are claiming that people who purchased gold at $800 have never made their money back:
people who hoarded during the last peak of $800 HAVE NEVER MADE THEIR MONEY BACK
But if ANYONE purchased gold at $800 USD per ounce they have almost doubled their money at today's current spot prices, in case you are not up to date, gold is currently at $1576.50 USD per ounce, right now. Matter of fact if you have any gold you purchased at $800 USD per ounce that is 99.95 pure, or know anyone that does, and they cannot find anyone to purchase it so that they make a profit, I would gladly pay $900 USD per ounce right now, without any hesitation at all. I don't understand the point you are attempting to make, but it seems that you don't have your figures straight. We are talking about gold, and not some other metal, the bright gold colored shiny stuff that jewelry is made of? The same thing that the second most populated country in the world "India" uses as a gift from groom to bride when being married? The same as in the Middle East? The same thing that has been used to back currency for thousands of years? The same stuff used to create the treasures of Tutankhamun?
I'm confused, how can you relate the market prices of gold, to that of real estate? Can you provide links to whatever reading material you have been basing your information on? Is there any evidence as to any of what you have stated being factual? More information would be appreciated, and frankly, if you cannot supply any information to back up your statement, I would appreciate it if you would apologize and retract it. If you can prove me wrong I will be more than happy to do the same.
Scott
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