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Post by win1177 on Jun 9, 2022 15:18:32 GMT
I own a position in Newmont Mining (NEM), bought back in the Fall 2021 at about $54/ share. Newmont looks like a well run gold company, with a history of paying rising dividends. I’m thinking about adding some, especially if it comes down more. Represents about 1% of portfolio, hold it mainly as a “diversifier”, as insurance against market selloffs, “black swan”, etc.
Anybody looking at buying/ adding to gold miners/ PM companies?
Win
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Post by retiredat48 on Jun 9, 2022 16:28:07 GMT
Briefly...
I consider gold has a major flaw for now. That flaw is the competition from crypto. Crypto is taking assets away from gold. Many are diversifying into crypto, by moving some of their gold holdings.
IMO gold will not do well until crypto becomes absurdly high (like $500,000 or more), or goes to $5 a coin, or less. ie zero. I give this a good probability, just don't know when.
I have advised my adult children to be prepared. That is, if the day comes when crypto crashes, be prepared to buy gold immediately...in a goodly sum. Get in on the ground floor.
As for gold miners, if one is to invest in gold today, I suggest the miners. Because they can make money at current gold prices, and pay good dividends. But they are not a part of my current portfolio.
R48
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galeno
Commander
KISS & STC
Posts: 221
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Post by galeno on Jun 9, 2022 19:48:15 GMT
If we were speculators we'd sell bonds and put 15% of port into BTC and 15% in a gold ETF.
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Post by uncleharley on Jun 9, 2022 22:18:39 GMT
I hold a position in NEM. Am not adding to it at this time.
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Post by win1177 on Jun 10, 2022 0:44:07 GMT
I hold a position in NEM. Am not adding to it at this time. When would you consider adding to it? Is there a price where it becomes a “reasonable buy”? Win |
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Post by Chahta on Jun 14, 2022 11:54:43 GMT
Briefly... I consider gold has a major flaw for now. That flaw is the competition from crypto. Crypto is taking assets away from gold. Many are diversifying into crypto, by moving some of their gold holdings. IMO gold will not do well until crypto becomes absurdly high (like $500,000 or more), or goes to $5 a coin, or less. ie zero. I give this a good probability, just don't know when. I have advised my adult children to be prepared. That is, if the day comes when crypto crashes, be prepared to buy gold immediately...in a goodly sum. Get in on the ground floor. As for gold miners, if one is to invest in gold today, I suggest the miners. Because they can make money at current gold prices, and pay good dividends. But they are not a part of my current portfolio. R48 Gold has gone nowhere and crypto’s have crashed. Not sure either are worthwhile now. I do own some gold coins inherited but won’t sell for sentimental value. R48, did you write this when BTC was $54k? |
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Post by retiredat48 on Jun 14, 2022 21:10:49 GMT
Briefly... I consider gold has a major flaw for now. That flaw is the competition from crypto. Crypto is taking assets away from gold. Many are diversifying into crypto, by moving some of their gold holdings. IMO gold will not do well until crypto becomes absurdly high (like $500,000 or more), or goes to $5 a coin, or less. ie zero. I give this a good probability, just don't know when. I have advised my adult children to be prepared. That is, if the day comes when crypto crashes, be prepared to buy gold immediately...in a goodly sum. Get in on the ground floor. As for gold miners, if one is to invest in gold today, I suggest the miners. Because they can make money at current gold prices, and pay good dividends. But they are not a part of my current portfolio. R Gold has gone nowhere and crypto’s have crashed. Not sure either are worthwhile now. I do own some gold coins inherited but won’t sell for sentimental value. R48, did you write this when BTC was $54k? I wrote this recently, but I fail to see the relevance if Bitcoin is $54,000, or $29,000? It could go to $500,000…or zero dollars. In other threads, I stated I see zero as most likeEly. To me, gold is a universal store of value…for centuries; but not a great INVESTMENT. It can be a good speculative flurry holding. Thus my kids are to buy gold the day bitcoin goes to zero. Gold may have a large sell off at that time also, making it a even better buy…then. Pyramid up…always, kids. R48 |
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Deleted
Deleted Member
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Post by Deleted on Jun 14, 2022 21:17:28 GMT
I hold AEM and add to it periodically. Yields 3.29%. Be prepared for volatility.
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Post by Chahta on Jun 15, 2022 0:12:06 GMT
Gold has gone nowhere and crypto’s have crashed. Not sure either are worthwhile now. I do own some gold coins inherited but won’t sell for sentimental value. R48, did you write this when BTC was $54k? I wrote this recently, but I fail to see the relevance if Bitcoin is $54,000, or $29,000? It could go to $500,000…or zero dollars. In other threads, I stated I see zero as most likeEly. To me, gold is a universal store of value…for centuries; but not a great INVESTMENT. It can be a good speculative flurry holding. Thus my kids are to buy gold the day bitcoin goes to zero. Gold may have a large sell off at that time also, making it a even better buy…then. Pyramid up…always, kids. R48 "if the day comes when crypto crashes" Hasn't it already crashed? That was my point. |
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Post by retiredat48 on Jun 15, 2022 22:47:08 GMT
I wrote this recently, but I fail to see the relevance if Bitcoin is $54,000, or $29,000? It could go to $500,000…or zero dollars. In other threads, I stated I see zero as most likeEly. To me, gold is a universal store of value…for centuries; but not a great INVESTMENT. It can be a good speculative flurry holding. Thus my kids are to buy gold the day bitcoin goes to zero. Gold may have a large sell off at that time also, making it a even better buy…then. Pyramid up…always, kids. R48 "if the day comes when crypto crashes" Hasn't it already crashed? That was my point. Personally, I don’t think so…not yet. Bitcoin is trending it’s four year moving average (Mike Saylor /MSTR argument). I mean a real crash…like down 98% which happened to a stable coin recently in two days. R48 |
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