POLL : How many ITulipers bought physcal Gold recently

[lsa420]

Re: POLL : How many ITulipers bought physcal Gold recently

I'm doing the same as gnk, but mostly with physical silver because I'm poor. I buy from various sources including bulliondirect.com and local dealers.

I store the physical in my house, in my booby trapped safe...next to my shotgun (also booby trapped), which I bought in Dec 2009.:cool:

[lsa420]

Re: POLL : How many ITulipers bought physcal Gold recently

I'm like ASH, haven't bought in a long time. I began buying in 2002 based in large part on EJ's advice, bought most of mine throughout 2003 and haven't bought physical since 2006. My spreadsheet shows an average price paid of $478/ oz. I got those first 1 oz gold eagles for $340 each at a local coin shop (please forgive my gloating).

Your gloating is well deserved thrifty.

What are you going to call it when gold hits $5,000?

[thriftyandboringinohio]

Re: POLL : How many ITulipers bought physcal Gold recently

...What are you going to call it when gold hits $5,000?

A sweet victory for my friends who had the stones to buy at $1,200

[newnewthing]

Re: POLL : How many ITulipers bought physcal Gold recently

To roughly optimize 2010 taxes I sold 300 oz at $1170 that I bought in 2004.

[dummass]

Re: POLL : How many ITulipers bought physcal Gold recently

To roughly optimize 2010 taxes I sold 300 oz at $1170 that I bought in 2004.

I've been selling GTU on this rally. At 1170 like Newnewthing and again at 1200 yesterday. My plan is to use the cash to purchase physical on a dip. If gold keeps going up, I guess I'll have to pay a larger premium for the trade. Who knows, maybe I'll get lucky.

[flintlock]

Re: POLL : How many ITulipers bought physcal Gold recently

If I told you, I'd have to shoot you.

(How about a poll, "How many itulipers have bought guns/ammo since Dec 3rd, 2009? ;))

- Pete

I bought a few cheap guns as potential barter goods if the SHTF. Cheap insurance and something I can deal out to my neighbors who I KNOW haven't taken any precautions. ( on the theory that well armed neighbors make for a safer neighborhood )

[metalman]

Re: POLL : How many ITulipers bought physcal Gold recently

I'm like ASH, haven't bought in a long time. I began buying in 2002 based in large part on EJ's advice, bought most of mine throughout 2003 and haven't bought physical since 2006. My spreadsheet shows an average price paid of $478/ oz. I got those first 1 oz gold eagles for $340 each at a local coin shop (please forgive my gloating).

bought in 2001 @ $270...

iTulip.com - Questioning Fashionable Financial Advice: Gold

in 2006 @ $586...

What Gold Bubble? - Janszen

& again in 2008 @ $730...

29 October 2008

The truth about deflation - An iTulip.com must read!

The truth about deflation - iTulip.com Forums: "With all of this panicking into dollars we get asked a lot about deflation. 'Why don't you just admit that a 1930s style depression and deflation spiral has begun and soon there will be soup lines and we'll be buying cars for $2,000 and gold will trade at $100.' The reason is that we are 100% certain that dollar appreciation that we call 'Ka' as part of Ka-Poom Theory will not turn into a deflation spiral. Cars are not going to cost $2,000, although there will be plenty of cheap used cars for sale, and gold will not go to $200. Here's why.

The essence of Ka-Poom Theory is that after the phony credit-based boom ends, first the dollar rises and inflation falls before dollar repatriation and government reflation policies kick in. We don't think the transition from disinflation to inflation is trade-able because we expect it to be chaotic. But we don't blame readers for trying, or wanting to.

This ain't deflation

We're not nit picking terminology here. We’ll show you what a real deflation spiral looks like: nothing whatsoever like the deflation we are seeing today that we have long forecast and call disinflation to distinguish it from the run-away deflations that occurred under the gold standard in the pre Bretton Woods era.

Deflation was common back in the days when there was something for a currency to deflate against for more than a brief period of time before the government got involved: gold. Even then, governments often abandoned the gold to inflate the money supply to stop deflation, especially in times of war. If you are a government and need to inflate and there's no war to fight, then make something up–like a oil shortage in the 1970s."

http://www.itulip.com/forums/showthr...7193#post57193

[Raz]

Re: POLL : How many ITulipers bought physcal Gold recently

I began buying Gold bullion coins - Eagles, Half-Eagles and Maple Leafs - in 1998 when it hit me that "Easy Al" Greenspan would risk any and all ill effects on the US Dollar in order to keep an equity Bull going. I also bought some Platinum Maple Leafs at the same time.

I bought at $290 - $310 in 1998 and didn't begin buying gold again until an uptrend became apparent in 2005 when the previous year's high was taken out. Those purchases were done at approxiamately $440 - $465. The last Gold bullion coins I purchased were in late 2008 when gold was at $890.
I also bought more Platinum Maple Leafs in early 2009 when platinum was trading at $1,120.


I sold 80% of my holdings in GTU at $46 and only bought 1/3rd of those back at $44.83.

I'm looking for an intermediate high in Gold between May 14th and very early June. I will repurchase all of the GTU - and more - on a retracement from there, assuming I'm correct.

If I'm not correct in that expectation, then it's going to be white knuckle time for Raz, who might well be forced to repurchase and add to positions in GTU at an overextended price because I do NOT believe the Bull Market in Gold is much more than half-over.

[jiimbergin]

Re: POLL : How many ITulipers bought physcal Gold recently

I bought my first gold in 1979 which I still have, along with some junk silver coins. I did not buy again until Dec 2008. I have bought a lot since then at various prices, including last week at 1180. I also have GTU and CEF. I also own GLD which I use to sell covered calls. I have done well on these covered calls. All the May ones may be exercised this time. I also have some sold some June calls. As long as I think the long term trend for gold is up I will continue to buy GLD and sell covered calls. This satisfies my emotiontional need to buy more gold even though I am at about 40% PM. The covered calls pay me a lot more than I make with my cash otherwise.
jim

[metalman]

Re: POLL : How many ITulipers bought physcal Gold recently

cash better than stocks since 2000... for sure... but gold's up > 4x.

[Master Shake]

Re: POLL : How many ITulipers bought physcal Gold recently

I've been buying gold and silver almost every month since July 08. Meeting a guy on Monday to buy two Jefferson's Liberty (First Spouse 1/2 oz gold coins), one proof, one uncirc, for $1200. If I can buy at spot or below, I will.

It's the new dollar cost averaging.

[Thailandnotes]

Re: POLL : How many ITulipers bought physcal Gold recently

Meanwhile, over at the NYT...

"Riskier assets, like stocks, are suddenly out of favor, while cash has streamed into the safest of all investments, gold."

http://www.nytimes.com/2010/05/09/bu...ripple.html?hp

[metalman]

Re: POLL : How many ITulipers bought physcal Gold recently

Meanwhile, over at the NYT...

"Riskier assets, like stocks, are suddenly out of favor, while cash has streamed into the safest of all investments, gold."

http://www.nytimes.com/2010/05/09/bu...ripple.html?hp

how can the nyt can get away with bashing gold as a risky commodity gamble for 10 yrs from $250 then call it 'the safest of all investments' after it hits $1200?

friggin liars.

[Jay]

Re: POLL : How many ITulipers bought physcal Gold recently

I have been buying slow and steady since 2005. I don't trade in or out. The only gold trade I have made is to transfer GLD into GTU. I have physical, GTU, some CEF and a smaller miner position. I only feel good about the physical. My cash position irks me. All said and done I'm close to 50% at this point. I'm still in buy mode.

[vanvaley1]

Re: POLL : How many ITulipers bought physcal Gold recently

I have a new grandson in Ireland...presently visiting in the US.

Question 1: If I gift gold to him...one or more pieces every time he comes to the states or we visit him, is the gold subject to taxation because of its transfer to the grandchild and/or into another country?

Question 2: Much speculation is occurring bout the Euro. Some pundits say the banking systems are in a mess over there also. Perhaps as much or more so as the ones here. What is the impact of holding gold against the Euro? Will it go up or down in value? The boy has Irish citizenship.

Question 3: Based upon my understanding of EJ's position on deflation (disinflation) and inflation prospects in the US, will we see a similar scenario developing in the Euro zone? Or...will the signals to hold or sell gold be different over there than here?