uhhh...Nixon was elected in '68. Finished his first term in '72, was re-elected. It was halfway through his second term when Watergate ended his admin. Just a little history for the historically impaired.
Not really. $250 in 1980 dollars had purchasing power roughly equal to $700.00 today. If you bought your ounce of gold just a little later, it cost you 2-3 times that $250 and if you sold today, you actually gained nothing. Might have even lost money in real purchasing power.
Btw, in 1980, I worked for a company that bought millions of dollars worth of scrap gold and silver every single week. I know a little bit about gold :-)
But even if you did buy at $250, all you've done now is just a little better than double your purchasing power. In ONLY thirty years! Great investment!
But you go right on thinking I'm wrong. What the heck would I know compared to someone who thinks 6 times 250 1980 dollars is 1500 dollars today? You are correct - I'm just talking through my hat.
The Bumbletown - NZ Alchemist Christmas Party is celebrated on the 28th December this year and looks sure to be a success this year again.. especially given the number of Gold Diggers here and the presence of a newly discovered vein of Fools Gold!
They have their Christmas Party after the day, so that they can give eachother the presents that they didn't like to others they don't like! A Very strange set of almost people!
I have to agree with Pcunix, Gold is a volatile investment, and it's been on an unnatural spiking trend. There will be a gold bubble, and a lot of people who converted tons of cash to gold will lose money. The gain is when you see the momentum picking up and jump in to purchase a the right spot on the curve, then sell while still spiking past your purchase price. But buy and hold? I wouldn't do it, and for those who can't keep away from it, do not go overboard! Balance your portfolio, don't put all your eggs in one basket, unless you have a goose that lays golden eggs!