I just don't believe all the hype about gold being a great place to park money right now. The price of gold has been at a plateau for the past 3 years, with ups and downs, but it just doesn't look like there is the big climb the gold sellers are trying to tell potential customers. If gold was such a great buy, wouldn't they put all their resources into buying it for themselves, rather than selling it to others?
Any thoughts on gold are appreciated.
Regardless of where gold goes, that sounds like a shitty salesman
He was very nice, right up to the point where I finally said "No" :)
The companies get a flat 7% of whatever you buy, so the price needs to go up at least more than 7% (there are storage fees) to break even. I don't know what the commission for the sales people is, but if they just get 1%, it could be lucrative for them, since some people actually buy several hundred thousand dollars or more. He was mad because the first time he spoke with me he spent about an hour and a half on the phone with me, and the more recent call was about 45 minutes. I was considering putting a considerable portion of my retirement account into gold, but when I look at the price history, it just doesn't seem like there is a need to get into it right now.
Storage fees? Will it still be there if SHTF?
@PhDinNY Storage?!? Umm, yeah. The only people "storing" my hard assets are VERY close family members with even more remote/secure locations than I maintain. That s*** goes where you go, buddy!