Hello Friends and welcome to the new "Metals Mine" Forum. I'm going to assume that many of you browsing here are experienced Gold traders and as traders have positions in markets of varying lengths (of time) and different goals for your trading positions. However I would like to know if any of you actually own physical gold and if you do, what your purpose is for holding it?
I actually do own physical Gold. I did this to start building a "store of value" apart from cash markets or "paper" assets. I would like to categorically state that I am NOT an "end of world-er" but do feel that a basic store of value is important when trying to build wealth. I consider precious metals, a "hard" asset, just as I would land or real estate. I believe that keeping a certain portion of your net worth in some kind of "hard" asset is the true measure of longer term wealth. Here is why?
All markets that we normally trade, stock markets, commodities, FX, bonds, etc., are what I refer to as 'paper" markets. What we trade really doesn't exist except on paper. Unless you trade commodities futures and actually accept delivery of bushels of corn (for example), what we trade are simply electronic forms of paper contracts. (Or stocks, or bonds, etc). However, even the "money" we make (or lose) is also just numbers in a computer somewhere and unless you can translate those numbers to something fungible and durable, they are just numbers.
So what I am curious about is do any of you actually own "hard" assets such as, precious metals, (Gold, Silver, etc) or Real Estate, (commercial, rental, farming land or vacant land), Jewelry, Art, or even Energy in the form of investments in physical energy farms, like solar or wind farms?
If so what percent of your net worth is held in your hard assets? Why did you decide on this percent level? And if the big dive does come, how to you intend or plan on converting your hard assets back into cash (when/if needed?).
I look forward to hearing your answers
I actually do own physical Gold. I did this to start building a "store of value" apart from cash markets or "paper" assets. I would like to categorically state that I am NOT an "end of world-er" but do feel that a basic store of value is important when trying to build wealth. I consider precious metals, a "hard" asset, just as I would land or real estate. I believe that keeping a certain portion of your net worth in some kind of "hard" asset is the true measure of longer term wealth. Here is why?
All markets that we normally trade, stock markets, commodities, FX, bonds, etc., are what I refer to as 'paper" markets. What we trade really doesn't exist except on paper. Unless you trade commodities futures and actually accept delivery of bushels of corn (for example), what we trade are simply electronic forms of paper contracts. (Or stocks, or bonds, etc). However, even the "money" we make (or lose) is also just numbers in a computer somewhere and unless you can translate those numbers to something fungible and durable, they are just numbers.
So what I am curious about is do any of you actually own "hard" assets such as, precious metals, (Gold, Silver, etc) or Real Estate, (commercial, rental, farming land or vacant land), Jewelry, Art, or even Energy in the form of investments in physical energy farms, like solar or wind farms?
If so what percent of your net worth is held in your hard assets? Why did you decide on this percent level? And if the big dive does come, how to you intend or plan on converting your hard assets back into cash (when/if needed?).
I look forward to hearing your answers
Do more of that which succeeds and less of that which does not - Dennis Gar