Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG (MODERATED)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: detlef gerlach who wrote (7)	9/27/2013 11:08:46 AM
From: Tommaso	of 51

OK, well just let him have his playpen and maybe we can post useful and interesting things here and carry on a reasonable conversation. Since --given what all the central banks are doing--I don't see any alternative to owning gold (and maybe silver) as a store of monetary value, the question for me is the safest and most convenient way to do this. Gold bullion is not at all convenient in any form. I don't want to keep it at home because if anyone found out about it I might be murdered, so I keep in in my bank safe deposit box. To convert cash to gold and then back into cash locally, when needed, would cost me about 10% in transaction costs. The gold ETFs have not been around long enough to make me totally confident of their safety. The Canadian gold/silver depository fund, CEF, Central Fund of Canada, is easy for me to buy and sell for a $6.95 commission through Merrill. CEF is not strictly tied to the metals prices, which can be an advantage at times; recently it dropped below an 8% discount (briefly); I think it's 4-5% discount right now. Gold mining stocks have all kinds of risks, as we all know. So my answer is to own an assortment of the above. The "blue chip" gold stocks mentioned in the thread's rubric have proved to be anything but blue chips. But I still own large positions in GDX from years back and have good profits in that large-cap gold mutual fund (or ETF). Contrary to what some of the nastier contributors on the old thread seem to think, I am not really a gold bug and when I look at the contents of my safe deposit box I do not get a Silas Marner wave of inner happiness. I find the pottery made by friends much more rewarding to look at. But the utter folly of our government (all branches) has forced me into relying on gold to preserve capital and for insurance.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next