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View Full Version : What would you senior stackers do?


boeing
10-15-2011, 12:23 AM
Hello, I have an interesting dilemma. I bought gold with money I'll need within 6 months. My DCA is 1580 CDN, so I'm on the positive side but I need it soon. Would you sell now or wait till Dec/Jan to do it. I guess I'm asking for some short term advice.
Thanks

beswick111
10-15-2011, 12:31 AM
i would sell it now

SunTzu
10-15-2011, 08:49 AM
If you knew you needed the money in 6 months, I never would have bought gold. My apologies if this isn't true.

Like beswick111 said, I would sell now. You're in the positive. Take the money and feel secure you'll have it in 6 months. The profit you made is just icing on the cake.

Good luck.

Fakiro
10-15-2011, 12:02 PM
Gold is gold. And fiat is fiat. If you need fiat, you dont have to get rid of gold!
At least not 100%.

Sell now, and who guarantees you can have it back at same fiat price ?

Gold is insurance Are you ready to sell your insurance ? Think twice, ma best advise...

Fixer
10-15-2011, 12:30 PM
Gold is gold. And fiat is fiat. If you need fiat, you dont have to get rid of gold!
At least not 100%.

Sell now, and who guarantees you can have it back at same fiat price ?

Gold is insurance Are you ready to sell your insurance ? Think twice, ma best advise...

He said "bought gold with money I'll need within 6 months"

he didn't say I only need some of the money.....

bird in the hand....his "profits" will probably be eaten up by premiums

StockStudent
10-15-2011, 01:01 PM
Maybe sell some now and a little each month thereafter.

boeing
10-15-2011, 01:40 PM
I'm in positive cash of about $150/ounce, no fees. I started with silver and only bought gold as a short term innsurance policy, this was just prior to the USA default issue and I knew little to nothing about gold. It just made sense to me. I wish I didn't have to sell but i do. Knowing by mid next year my stack will be growing again at a much larger rate.

As a side note if anyone is interested in Scotia 1 ounce ingots in the Toronto area let me know.