What you think Gold Savings is good or not?

My humble view is that gold is near the upper edge of a ten year range price has fluctuated in.

Any trader (short term) will therefore say that the odds are in favour of a decline back to the lower edge of that ten year price range. You can see it easily on eg a chart.

However:

There is currently a massive stress within the world's financial pricing and crowd control systems. Corruption is being revealed. Something may give.

A move to a fresh paradigm would involve changes of leaderships of large countries, new centrist parties (called populist by the current leftist parties of right and left). This would weaken forces constraining prices of commodities.

Food prices would rise for example. Gold might also. As would wages. (You see, if the currencies fall the banks lose out when people repay their loans with lower value money in the future) So a battle between inflationists (popular politics) and deflationists (the established financial industry dominated politics) is under way.

So if this all begins to happen, gold may still have a long way to go upwards.

Summary: in my view, not investment advice, a small rise in the price of gold, and refusal of gold to relinquish that small rise, will demonstrate that a new situation has come into existence wherein gold has a floor under it supporting its price.

This is called by some people, an inflection point, where the coin of randomness is temporarily on its edge, and we await it beginning to move to either side to make our longer plans.

This post I made earlier discussed the same issue, but in terms of management changes in large corporations and social mood swings which cause prices to change.

For several years many countries/governments have been purchasing physical gold.

The pricing we see today is not the result of physical gold sales, but futures contracts and other paper derivatives, which all told are many multiples of available, physical gold.

Why did those entities buy physical? To prepare for the end of the current financial system, which may well be right now. The COVID-19 virus is the straw breaking the camel's back.

...but it also depends on your investment approach. Some invest in gold to prepare for the Doomsday scenario when the economic system collapses entirely. Gold and silver coins could be good for trading in that case. However, many also buy gold and other precious metals to hedge their stock portfolios against inflation, which is something the US may have to deal with. Gold can also be very liquid. Furthermore, gold carries its own intrinsic value, so it is less likely to become worthless since it is a rare precious metal. If you want to start investing but you aren't sure where to start, we have a Learning Center that you might find helpful on our website. https://bullionexchanges.com/learn

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I first bought Gold back in 2004 in small amounts and having zero knowledge about the market but there was a lot of noise in the market that Gold was going to go up to USD 5.000 so I decided to keep it. Clearly it never went to USD 5.000 but 10 years later it was price 3x the price on 2004 and now it has gone up 4x the price that I bought at in 2004. It is going to go up to USD 5.000 anytime in the future ? I have no idea but this time around I will continue holding it unless price goes below USD 1.700 in which case I deserve to take my long term profit off the table (or at least 50% of it).

It is my favorite type of saving. Gold has its own price all the time. So it is very stable.

Anyone new to buying the precious metals might be a bit nervous. They should have some to their comfort level.

Upon purchase keep receipts.

Examine how divorced from spending money you are by spending cash for awhile, carry it and use it. Compare how it feels as opposed to a debit card or electronic payments.

Understand that the use of "credit" for trade has only been used for the average person only 140 years or so. At least for anything less than a house. I view credit as the first divorce from the awareness of one's spending.

Electronic payments is only a furtherance of this challenge.

As for the health of one's finances, I believe that cash-awareness is the first step. Gotta pay your bills to keep the service might be a first lesson. Growing to make more than you spend. Onto do you really want to spend on that? How to save. This might be a progression of growing in the United States. Our educational system teaches nothing of money or credit on purpose. You people ripe for credit card use at 16.

How I see it you might want to identify how much insurance/assurance you want. A great deal of the precious metals value is made up by the actions of the central banks of the world. Will six weeks of expenses do for your household and habits?

6 weeks of dollars, converted to gold/silver to act as a hedge. Saving can grow from your plan. Metals available in your hand within 24 hours is recommended. Having a receipt that says you own gold isn't good enough. Having three days of food and water is a minimum, how many days at hand is a minimum for you?

Price of gold and silver can be confusing as there are varied paper promises that abound. Generally with how every central bank is acting then the price has stayed rather stable. Mostly on an upward trend. Price of things measured in US dollars may be deceiving.

Since the dollar itself is a variable from the value that an amount of dollars can buy changes over time. It can be difficult to view something as an investment or a savings, or loss of value. Gold is the measure throughout a 5000 year history that is stable. Whether it's in an account or in a price, the numerical number of dollars can change without changing the value to exchange it for something else.

One you buy an ounce, you will have an ounce. Your first purchase should be the most value to you as it's the difference of having some to rely on or not. The price should be less sensitive.

I would suggest that you look at that bit of savings as "only in desperation" before you sell. The longer time periods as a general rule for your savings the safer you will be when it comes time to sell. Having a familiarity with the price becomes important. I

f you are saving for something in a couple of years, I view this as safer if you keep an awareness of any market moves. Price recovery can be difficult for several years if you've purchased at a peak, and of course easier if you purchase at a lower level. This is qualified to what currency you trade back into.

If you are trading directly into a desirable thing not a currency then the value is entirely yours.

I've got metals in several different prices of currency so that I have less price sensitivity. Buying over time does this.

And it's a great community of people. We're all basically in the same boat.

Having some silver along with your gold is my plan for savings. Having at least the amount of silver in current relation to gold (80/1) is a good start. That way you can take advantage of any price movement in the market . You can participate in a gold silver swap when price declines and gets historically disproportionate and increase your stack and peace of mind over time. Gold has survived every monetary transition throughout history and should survive the current one (fiat to digital).