Gold is going to break record highs today

[Chicago_CTA]

Quote from Tsing Tao:

until the government decides you cant own it (again)

You know the old saying "If THEY come for your guns.......give them your bullets."

I submit the same applies for lawfully owned gold and silver.

 

[poyayan]

Also, physical gold get taxed at 28% cap gain. What the hell?

Government definitely is hostile towards the alternate of their currency.

 

[Tsing Tao]

Quote from Chicago_CTA:

You know the old saying "If THEY come for your guns.......give them your bullets."

I submit the same applies for lawfully owned gold and silver.

riiight. people talk tough until the feds are at their door.

 

[peilthetraveler]

Quote from poyayan:

Also, physical gold get taxed at 28% cap gain. What the hell?

Government definitely is hostile towards the alternate of their currency.

The great thing about holding physical gold/silver is that nobody can really find out at what price you bought it.

 

[indahook]

Quote from peilthetraveler:

The great thing about holding physical gold/silver is that nobody can really find out at what price you bought it.

I wonder how the IRS would treat that? Lets say your selling PMs in retirement 20 years from now to pay your bills. How could they know the cost basis?

Knowing the IRS they would assume your basis was the all time low....

 

[gov]

Quote from indahook:

I wonder how the IRS would treat that? Lets say your selling PMs in retirement 20 years from now to pay your bills. How could they know the cost basis?

Knowing the IRS they would assume your basis was the all time low....

aCTUALLY, i BET THEIR COST BASIS WOULD BE ZERO, WITH EVERY PENNY OF THE SALE BEING TAXABLE GAIN....

(sorry, caps lock on...)

 

[Debaser82]

1299$...

 

[propseeker]

Quote from indahook:

I wonder how the IRS would treat that? Lets say your selling PMs in retirement 20 years from now to pay your bills. How could they know the cost basis?

Knowing the IRS they would assume your basis was the all time low....

by looking at your receipts, which is your responsibility to keep.

having no receipts opens up a bigger can of worms than just cost basis.

 

[Debaser82]

Today seems like a good day to break 1400$ and set route to 1600$.

 

[zorro]

Interesting charts. Will the MACD cross back up or will there be a divergence signal.

Gold now heading into the sell region. If you ever wanted to stand in front of the train this is the area to do it. Stop at 1390. I make the sell zone 1376 - 1389. Look to buy back at 1360 then 1348. Could go all the way back down to 1317 - 1328 area but that is just pure speculation at this point. Need to see how it finishes for the day.

A lot of info is factored in now especially that the fed has shown their hand an the Bank of England hasn't followed. Will gold