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Time to sell?


Johny

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Last year I bought ten 1 ounce gold bars and they've lost 3k in value already, I'm not clued up on trading , buying and selling or understand how markets works I just read and watch others and try make a decision

Lately I'm seeing a few people on other platforms talk about a massive crash and if you're up to date with the plan for a great reset by Klaus analschwaab then you'll know the elite plan is to bankrupt us all because their motto makes it's obvious thats their agenda 

I'm interested in what people think on here , iv heard 1 guy say in his yt video that gold silver and crypto is going to crash hard and that's when he'll buy more, I'm thinking of selling the gold and holding on to the cash to buy back in at a lower price. 

Do you think it's going to drop or raise in price ?

 

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You made the wrong choice buying bars instead of coins, but now you have them i see no point at all in selling them for a loss.  I wouldn't take much notice of people like Robert Kiyosaki ( i'm guessing this is who you mean ? ) , he has been predicting this sort of thing for years.  Trying to second guess the markets is daft, as long as you're diversified you will be fine long term. 

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I do not know Klaus Analschwaab, but I doubt anyone will be able to crash gold. It feels somewhat humorous to think about crashing an asset with intrinsic value as opposed to fiat currency, especially in a time of currency bubbles.

What I do see is that you bought gold near to an all time high (spookily close to the all time high unless you bought at a massive premium). That is somewhat unlucky, I admit. I can understand your thoughts if it's a loss you're fearing or profit you're seeking, as gold is a volatile asset. It needs some nerves, but I would think holding it for ten years will give you a better perspective. Also I'm not sure how holding  currency in a "bankrupt us all" scenario will help you better than holding gold. Gold is for wealth preservation - when everything else fails, your currency may melt away, while ten ounces of gold will be ten ounce of gold.

To the question, I think gold will rise with the coming inflation, and more or less hold it's wealth compared to consumer goods. Not day by day, but when averaging over a couple of years.

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35 minutes ago, Johny said:

Last year I bought ten 1 ounce gold bars and they've lost 3k in value already, I'm not clued up on trading , buying and selling or understand how markets works I just read and watch others and try make a decision

Lately I'm seeing a few people on other platforms talk about a massive crash and if you're up to date with the plan for a great reset by Klaus analschwaab then you'll know the elite plan is to bankrupt us all because their motto makes it's obvious thats their agenda 

I'm interested in what people think on here , iv heard 1 guy say in his yt video that gold silver and crypto is going to crash hard and that's when he'll buy more, I'm thinking of selling the gold and holding on to the cash to buy back in at a lower price. 

Do you think it's going to drop or raise in price ?

 

It's a gamble, I've liquidated 50% of what I hold and am sitting on the cash waiting for "something" to happen and to be honest, my ar*e is twitching daily. I don't follow conspiracy just trying to make the best with what I have got based upon everything but YouTube. 

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Just to add that buying seriously high quality companies that pay Dividends is a time proven strategy to build wealth.   For example (and this is NOT a recommendation):

AstraZeneca

Royal Dutch Shell

Alphabet

Apple

Tesco

 

Best

Dicker

Not my circus, not my monkeys

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1 minute ago, dicker said:

Just to add that buying seriously high quality companies that pay Dividends is a time proven strategy to build wealth.   For example (and this is NOT a recommendation):

AstraZeneca

Royal Dutch Shell

Alphabet

Apple

Tesco

 

Best

Dicker

Good list there but never heard of Best or Dicker.  .... what are they paying ?

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Thank you everyone for your honest replies, yes it was the Robert guy saying it and funnily enough he's selling a book so maybe that's why he's saying about the crash

As for the great reset and world economic forum being a conspiracy it's outlined in their plans that we will own nothing it's their actual motto so I don't feel it's a conspiracy but I don't want to turn this in to a debate as neither of us can be certain but that and Kyosaki has got me thinking there's a chance of a crash coming ūüėé

My plan has always been to hold on to it like I have with my bitcoin I also got last year, ideally I'd like to buy more crypto for trading with and making profits but it's so volatile and I'm not sure I'd do it right so 'hodling' is what I'm doing with that but I thought if gold is going to crash then I'd sell now and buy back in at a good price

I am in fear of losing my money yes and getting rich from the gold isn't a priority, it isn't something that happens over night with gold and as I only have a small amount anyway I won't see much profit on it even when the price does go up

I may do what Bigmarc has done and sell 50% it's only a small amount but at least iv got almost half back in cash what I paid.

Dicker yes iv been thinking of using some money to buy shares but again I need to educate myself further before doing this 

 

 

 

 

 

 

 

 

 

Edited by Johny
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3 minutes ago, dicker said:

One think that few people bother to look at is the recover timespan post a crash.  It is usually not all that long.  
 

 

 

4 minutes ago, dicker said:

One think that few people bother to look at is the recover timespan post a crash.  It is usually not all that long.  
Not sure about this one as they say we never cleared the rubbish from 2008 so it could be longer .... Japan style ? In the doldrums for decades ... but hey they are alive and keep going .

 

 

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15 minutes ago, Johny said:

Thank you everyone for your honest replies, yes it was the Robert guy saying it and funnily enough he's selling a book so maybe that's why he's saying about the crash

As for the great reset and world economic forum being a conspiracy it's outlined in their plans that we will own nothing it's their actual motto so I don't feel it's a conspiracy but I don't want to turn this in to a debate as neither of us can be certain but that and Kyosaki has got me thinking there's a chance of a crash coming ūüėé

My plan has always been to hold on to it like I have with my bitcoin I also got last year, ideally I'd like to buy more crypto for trading with and making profits but it's so volatile and I'm not sure I'd do it right so 'hodling' is what I'm doing with that but I thought if gold is going to crash then I'd sell now and buy back in at a good price

I am in fear of losing my money yes and getting rich from the gold isn't a priority, it isn't something that happens over night with gold and as I only have a small amount anyway I won't see much profit on it even when the price does go up

I may do what Bigmarc has done and sell 50% it's only a small amount but at least iv got almost half back in cash what I paid.

Dicker yes iv been thinking of using some money to buy shares but again I need to educate myself further before doing this 

 

 

 

 

 

 

 

 

 

I'd be more worried about Cryptos than Gold . They seem the ultimate bubble  . I read that over 20% of cryptos are bought with debt,  mostly by young people who see massive returns. So more people are taking on more debt because prices keep rising because of purchases made with .... debt. Seems the perfect Ponzi .  

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34 minutes ago, Johny said:

I may do what Bigmarc has done and sell 50% it's only a small amount but at least iv got almost half back in cash what I paid.

Johny. 

Many people do this for different reasons. A lot of people want security some want options. Try not to focus in on what you want to hear. Is there going to be a crash or a correction? Is there a difference? One is fear talk and the other is opportunity talk. As @dicker said post "correction" they tend to over correct in my opinion and it's a gamble I am willing to take. I have done the same with crypto to as these follow the markets even more so than metals. Many members are very serious about investing and often talk about large port folio's. I am not in that camp. So just work out who you are because if you feel the whole world is going bankrupt then it's probably best to hold. Best to follow your gut I feel and stop it with the YouTube videos.

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We live in an era of ‚Äúfake news‚ÄĚ, social media ‚Äútrends‚ÄĚ, ‚Äúinfluencers‚ÄĚ etc.

People actively use conspiracy theories to promote political aims, and I suspect influence market behaviour and make money on social media.

When you are researching what to invest in, it really does pay to do a fact check and¬†listen to ‚Äúinfluencers‚ÄĚ, ‚ÄúYouTubers‚ÄĚ and then FACT CHECK.

The WEF story has, on many times been been proven to be rubbish and an urban myth.

https://mobile.reuters.com/article/amp/idUSKBN2AP2T0

If you want to be a good investor, stay away from urban myths, heresay, hype and think for yourself.   It’s harder (much harder) than watching a 23 year old on YouTube but may well make you wealthy.  
 

Best

Dicker

Not my circus, not my monkeys

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34 minutes ago, pricha said:

I'd be more worried about Cryptos than Gold . They seem the ultimate bubble  . I read that over 20% of cryptos are bought with debt,  mostly by young people who see massive returns. So more people are taking on more debt because prices keep rising because of purchases made with .... debt. Seems the perfect Ponzi .  

I seem dimly to recall that debt or leveraged buying was one of the reasons behind the 1929 Wall Street crash, and that was some crash. 

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At the end of the day, your best bet will be a balanced portfolio. Every asset has it's role, not all assets will do well at the same time, not all assets will fail. Do not look at the return or loss of a specific asset but think about how you want your portfolio to be structured. If you think you're holding too much gold, then sell, get something else.

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2 hours ago, Johny said:

Last year I bought ten 1 ounce gold bars and they've lost 3k in value already, I'm not clued up on trading , buying and selling or understand how markets works I just read and watch others and try make a decision

If your getting worried about losing x amount in value over a certain period you havent held it long enough. With the cartel supressing the price, expect to hold on the long term. The best way to treat metals is for retirement especially when we live under the fiat-slave-machine.

2 hours ago, Johny said:

Do you think it's going to drop or raise in price ?

Drop; the fed/cartel is adding to their balance sheet which they tell the financial markets that the Fed Dollar is stronger than ever. Insider trading and manipulation will short metals, or even drag the futures price up for extra room in larger profits.

Edited by Minimalist
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Personally I wouldn't sell at a loss unless either I needed to have the £ there and then for some sort of financial emergency or I had an opportunity that would make it more than worthwhile to take a loss

Eg if I were to lose £3k on the metal but the same money would go into a deal to make £10k

The problem with trying to time the market you could miss out on the bottom. I prefer buying consistently over time which could be an option in your case if you continued to buy would 'average down' 

Ultimately if you will sleep better with the cash in your bank than the gold that's for you to decide. 

Perhaps a final question does it have to be all or nothing? Could you sell part of the stack? 

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10oz is a nice stack, a good insurance policy and I'd leave it alone. Forget about it and stop looking at the gold price!

It will always be there when you need it.

As mentioned, now is the time to look for other opportunities, although perhaps you already have?

The point is, you can afford to take some well researched risks with stocks, miners etc. or even cryptos because you have something to fall back on.

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society (destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."

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1 hour ago, RDHC said:

I seem dimly to recall that debt or leveraged buying was one of the reasons behind the 1929 Wall Street crash, and that was some crash. 

The debt to GDP in America in 1929 was 16% . Today it's 129% . I'm no economist so i don't know if that matters¬†¬†ūüėĖ¬†

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5 hours ago, Johny said:

Last year I bought ten 1 ounce gold bars and they've lost 3k in value already, I'm not clued up on trading , buying and selling or understand how markets works I just read and watch others and try make a decisio

This is the problem, you should never invest in anything you don't understand; otherwise how can you know when to buy/hold/sell?

You bought at the top and this is characteristic of the crowd who lump into an investment after a big rise, without understanding what they are buying, why they are buying it, and what the long term prospects are.

It's usually a sign of listening to pumpers and a serious case of FOMO.

I would suggest you hold until you can research a little about your chosen market and why people buy gold. After that, you may be in a position to make your own decision, but if you're constantly worrying about how much you may or may not have lost, you should sell and invest in something you understand. Failing all else, take the previous advice and buy some solid blue chips for the stability and dividends.

I doubt you will do that though, as I suspect you really want a get rich quick investmentūüôĄ

Profile picture with thanks to Carl Vernon

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