gold/PM allocation in late 1970' vs now

[friendly_jacek]

According to this site: http://www.usagold.com/gildedopinion/richardson.html
gold allocation was very high in 1980 that marked a top.
I understand that gold allocation is currently low arguing that we are in the early stages of the "ultimate bubble."

Does anyone has better sources on gold/PM allocation now vs 1980?

[LargoWinch]

Re: gold/PM allocation in late 1970' vs now

According to this site: http://www.usagold.com/gildedopinion/richardson.html
gold allocation was very high in 1980 that marked a top.
I understand that gold allocation is currently low arguing that we are in the early stages of the "ultimate bubble."

Does anyone has better sources on gold/PM allocation now vs 1980?

My only indicator is friends, co-workers and familly; none of which own bullion and in fact, some do think I am borderline nuts to buy PMs. Yep, that is a bubble :rolleyes:

[aaron]

Re: gold/PM allocation in late 1970' vs now

In 1980, did your friends own gold? Would they have looked at you crazily if told them you did?
Thanks

[LargoWinch]

Re: gold/PM allocation in late 1970' vs now

In 1980, did your friends own gold? Would they have looked at you crazily if told them you did?
Thanks

aaron, in the 80s I was more concerned about watching Japanese cartoons dubbed in French over asset allocation, so I would not really know the answer to your question.

[aaron]

Re: gold/PM allocation in late 1970' vs now

aaron, in the 80s I was more concerned about watching Japanese cartoons dubbed in French over asset allocation, so I would not really know the answer to your question.

Anybody else then?

By the way, is cash4gold still going strong? I only get information & entertainment from the Internet. I have not seen their crap around too much.

[LargoWinch]

Re: gold/PM allocation in late 1970' vs now

Anybody else then?

By the way, is cash4gold still going strong? I only get information & entertainment from the Internet. I have not seen their crap around too much.

The "cash for gold" scam is going strong everywhere in the "Western World" to satisfy the need of over-indebted households to exchange 31grams of gold bullion for $100 or less in order to service interest payment on debt.

In the 70s the middle-class was buying gold to protect themselves, now the "middle class" (or what is left of it) is selling their gold at 10cents on the dollar just to survive.

[GRG55]

Re: gold/PM allocation in late 1970' vs now

Anybody else then?

By the way, is cash4gold still going strong? I only get information & entertainment from the Internet. I have not seen their crap around too much.

1. Before the 1980 peak in gold several of my university classmates owned the stuff, as did my father-in-law [although I had not yet met either him or his daughter at that point ].

2. Up here in Western Canada there's no shortage of "cash for gold" commercials according to my wife, who likes to tune in to the garden channel after dinner.

[Godozo]

Re: gold/PM allocation in late 1970' vs now

I've seen gas stations buying gold here in NW Indiana.

And I remember people buying gold in the late seventies.

Different times indeed.

[flintlock]

Re: gold/PM allocation in late 1970' vs now

Every morning I pass a clown wearing a "Cash for Gold" sign standing on the sidewalk in front of a Home Depot shopping center.

[jimmygu3]

Re: gold/PM allocation in late 1970' vs now

My only indicator is friends, co-workers and familly; none of which own bullion and in fact, some do think I am borderline nuts to buy PMs. Yep, that is a bubble :rolleyes:

It's funny, the standard line from mainstream brokers and pundits is, "The time to buy gold was a few years ago, but now it's too expensive." This, from the same people who said gold was a bad idea back then too. They never say, "Man, I really screwed up by not recommending even a small PM allocation to my clients, while the stocks and funds I put them into gained nothing for a decade."

When the housing bubble was in full swing, the mantra was, "Buy now before prices go higher." J6P will never have the means to do that with gold. He will simply continue to marvel at the rising sums offered for grandma's old jewelry. I think we are seeing a growing number of wealthy individuals and central banks buying in anticipation of escalating prices, but it's an elite few who are buying or will ever buy gold. Widespread gold bullion purchases, a la 1980, will not happen again in the US. The line between those who buy and own assets and those who sell assets to make monthly obligations becomes more stark every day.

-Jimmy

[jiimbergin]

Re: gold/PM allocation in late 1970' vs now

In 1980, did your friends own gold? Would they have looked at you crazily if told them you did?
Thanks

I (and my 2 young children) and my boss were the only people I knew who owned gold or silver in 1980. I still have the same gold and silver today as does my son. My daughter who was only 8 when she bought junk silver on my recommendation made me sign a contract that said she would earn as much on the silver as she made in her savings accoung over the next 10 years. In 1990 I bought back her silver at the $14 an ounce that she paid plus 10 years worth of interest! She made one heck of an investment

[thriftyandboringinohio]

Re: gold/PM allocation in late 1970' vs now

In 1980 I was just 22 yrs old and in college (and handsome, and strong!)

One indicator of public sentiment I recall clearly was that every night on the national news, the anchorman told us both the DOW and the price of gold. Anyone on the street who could tell you the DOW could also tell you the price of gold.

[friendly_jacek]

Re: gold/PM allocation in late 1970' vs now

Anyone on the street who could tell you the DOW could also tell you the price of gold.

Duh! They were the same numbers then!