Investors mostly bypass gold before Y2Kgreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
Investors mostly bypass gold before Y2K
"Blink and you might have missed the brief Y2K gold rush, which fizzled out weeks before any mayhem might arise from programming glitches in the world's computers, analysts said. Almost none of gold's advance from near 20-year lows in September and October was attributed to safe-haven hoarding of coins and bars before January 1, analysts said."
-- hamster (email@example.com), December 02, 1999
sucks doesn't it? Got about 20 grand invested in various precious metal investment and stand to lose most of it!!! Damn shame.
-- tom hirsch (firstname.lastname@example.org), December 02, 1999.
So far I'm glad I kept my money in goods and cash instead of gold.
-- bardou (email@example.com), December 02, 1999.
Hang in there gold and silver will prevail wait a bit and watch
-- Susan Barrett (firstname.lastname@example.org), December 02, 1999.
Right now there is a great buying opportunity for Gold and Silver as Y2K denial may be fueling the recent price drop. I suggest Krugerrands as there is less risk with their small premium over spot. As for silver, divisibility and authentication are prime concerns--buy a bag of pre-1965 silver dimes! Great gold charts are at:
-- Slobby Don (email@example.com), December 02, 1999.
Tom Warren BUffet bought and took possession of 139 million ounces of silver recently.
Bill Gates recently purchased 10% of a silver mine (Pan Am Silver?)
Precious metals are one of the few places to store wealth. PATIENCE. A home run is coming......soon.
-- Silver (firstname.lastname@example.org), December 02, 1999.
My decision to buy gold and silver -- in the form of small weight coins -- was due entirely to Y2K concerns. As such, I do not look as this as a way to "grow" my money, but rather as a way to protect it. Thus, you cannot really compare such an "investment" in precious metals with investing in, say, Internet ".com" stocks (which rallyed today and shot the DOW to 11,000 at closing). The latter is for those who think that the deck party is going to continue, the latter is for those who think that the ship is about to sink.
You pays you money and you takes you chances.
-- Jack (jsprat@eld.~net), December 02, 1999.