Saturday, June 22, 2013

And As If That Wasn't Enough

I took a $4,000 hit in the market last week! Almost all of it in my gold (precious metals) fund. I mean, how much lower can gold go! It is gold for god's sake, the standard! These funds are still worth almost three times what I paid for them a few years ago ($9 vs, $27) but they have been in a downward spiral for several months. They used to be worth eight times what I paid (peaked out at $78)! I keep waiting for them to rebound, thinking it would be silly to sell when everyone else is buying and yes, someone on here advised me to sell back then. As I do with most advice, I ignored it. I did take my advisor's advice a few months ago and moved about 25% of my gold into something more stable. I just wish I had of moved more. But then if I had, gold would have gone up and I would have been kicking myself in the butt with the other foot!
Joe Btfsplk, the world's unluckiest man (from Li'l Abner cartoons).

I talked to a friend in Alberta yesterday who had the same feeling, saying gold has to recover and when it does it could go to $2,000 per ounce. Oh Happy Days!
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6 comments:

  1. RickJune 22, 2013 at 12:06 PM

    I guess I'll hang on to my gold retirement watch for a few more years now since its value is dropping like a rock! Other than that, I'm totally 'goldless'!

    ReplyDelete
  2. The BooneDocksJune 22, 2013 at 12:24 PM

    Gold is often seen as a hedge to other investments. If one sells it, it's not much of a hedge.

    ReplyDelete
  3. BobJune 22, 2013 at 1:21 PM

    Meh, if it goes down, just buy more! That's usually my motto.

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    Replies
    1. CroftJune 22, 2013 at 3:49 PM

      And that of course, is why the 1% keep getting richer. Us 99%'ers do not have the unlimited resources required to do that! At least on a large enough basis to make a huge difference.

      Delete
  4. Contessa June 25, 2013 at 8:20 AM

    You just have to let it go and what it ends up at when you really need it, so be it. Not worth wasting your energy worrying about it.

    ReplyDelete

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