We should get a bump in gold in a few hours.

[Nick Gromicko]

Go gold go!

[Nick Gromicko]

Gold just broke an all-time high today.

[Michael Larson]

Originally Posted by gromicko

Gold just broke an all-time high today.

Cute.

It goes down after your few hours pronouncement a short time ago and then you post when it pops.

Are you buying at these prices?

[Nick Gromicko]

The date of my post #1 is June 14. See chart. Looks like a bump to me.

And yes, I'm still stacking (buying on the dips) as gold is going to $6,500.

[Michael Larson]

Nick, it went down in the few hours after your post.

You chart only shows closing prices.

Are you buying at these prices?

[Nick Gromicko]

I'm not a day trader (you can't be with physical gold because of the premiums) so don't hold me to "hourly" prices.

Do a search on this message board and you'll see that I've been regularly advising members to buy physical gold and predicting gold to go up since before the recession started. How was my prediction?

[Michael Larson]

Originally Posted by gromicko

I'm not a day trader so don't hold me to "hourly" prices.

Do a search on this message board and you'll see that I've been regularly advising members to buy physical gold and predicting gold to go up since before the recession started. How was my prediction?

Nick timing is a difficult. You said hours.

Just having some fun with you.

Are you buying?

[Nick Gromicko]

Correct. Timing is impossible. Look at the charts over longer periods of time as it is impossible to day trade physical gold due to the premiums involved.

Check my facts, but I believe that in the history of this message board, I've only regularly touted, to my fellow members, one lone investment... physical gold. How'd I do?

[Nick Gromicko]

Having correctly predicted, for the past couple years, to buy physical gold... my job is only 1/2 done.

I must now correctly predict when to sell... and I will.

For now, keep stacking.

[Nick Gromicko]

For those who have enjoyed the ride with me (see chart)... I know, it looks like the top. It's not. It's the bottom. Be brave with me and don't sell yet.

[Michael Larson]

Good luck to all.

BTW-Gold is still a poor inflation hedge.

[Nick Gromicko]

If it climbs over $6K/ounce I'll take it as a hedge.

[Michael Larson]

Originally Posted by gromicko

If it climbs over $6K/ounce I'll take it as a hedge.

Equities will go up with it.

It may be good as a **** hit the fan but then you have to be able to defend against someone taking it from you including the government


It has been confiscated before.

The problem is that the very circumstances that would make your gold so valuable could also result in its being taken from you. In 1933, in order to stabilize the monetary system, President Franklin D. Roosevelt, under Executive Order No. 6102, confiscated all privately owned gold in the United States.

As a real store of value. Not so much.

[Nick Gromicko]

Obama attempting to confiscate all the gold in the U.S. would be awesome news for us gold bugs.

[Nick Gromicko]

Equities will go up with it.

Then why haven't they? The Dow is at about the same level as it was more than a decade ago while gold has gone up 400%.