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Sold my gold coins about a month ago. Made some money. I’m happy.
I’ve never understood the gold and silver market. I guess it’s worth whatever people will pay for it.
I am curious as to what other investment was so enticing that you gave up your US dollar risk hedge for it. Did you put your new investment choice through a screening process that's akin to the same analysis you put precious metals through?
I would suppose you bought equities in the US stock market. For the record, gold and silver kicked the stock market's ass last year, and will likely do it again. And again. You did factor that into your analysis, correct?
I would imagine you also factored in the headlines--
IMF calls for dollar alternative
http://money.cnn.com/2011/02/10/markets/dollar/index.htm
And these regular headlines overseas--
China buying gold at a discount
http://www.indiainfoline.com/Markets/News/China-buying-gold-bullion-at-a-discount/5069344126
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Im not predicting, just asking. I dont invest in metals but based on the graph i'd be a bit hesitant to buy at these levels.
Also this graph is 2 years old, it's much more vertical right now.
#bubbles