Shall i buy gold? (Finances)

[Lilly-La]

Hi all,

friends of mine did advice me to buy physical gold (coins, barren..) months ago. They did forecast this second financial crisis here in europe and the downgrade of the U. S. $. I have not had the time to care about european/global economics during the past months so i didn´t do anything.
Now the gold price jumped over 1700 $ which is extremely high.

Yesterday, (Sunday 7/8/11) i asked the Yi: is it advisable to still buy gold?

I got 23 (Stripping) with the lines 1.4.5 changing to 25 (Innocence, the unexpected).

23 is a good image of the current global economic situation to me which seems to erode every day a bit more .

So what do you think the Yi is advising me?

 

[icastes]

23 is a loser. It is a matter of common sense: Gold is now at all-time high. The rule for commodities is to buy low, sell high, not buy high and hope for higher. 23 means that to buy gold for you would mean bad luck. 25 says don't be infatuated with personal advantage or satisfying greed. These hexagrams are not a reflection of the world economy as much as they are about you and what you want.

 

[tigerintheboat]

Dried Fish could mean Dried Food

friends of mine did advice me to buy physical gold (coins, barren..) months ago. They did forecast this second financial crisis here in europe and the downgrade of the U. S. $. I have not had the time to care about european/global economics during the past months so i didn´t do anything.
Now the gold price jumped over 1700 $ which is extremely high.

Yesterday, (Sunday 7/8/11) i asked the Yi: is it advisable to still buy gold?

I got 23 (Stripping) with the lines 1.4.5 changing to 25 (Innocence, the unexpected). 23 is a good image of the current global economic situation to me which seems to erode every day a bit more .So what do you think the Yi is advising me?

Admittedly, Sunday would have been a good day to buy gold. It went up substantially today.

I saw icastes remarks below, and over the last decade, I have spoken with any number of people, and they always say that gold is too expensive, it will come back down, and now is the wrong time to buy it. That is because gold (since about 2001) just keeps going up. All gold is doing overall is retaining its value. The right way to think about it is that the value of the paper money is going down. That is the primary thing that must be stripped away; the idea that the paper money is real and represents an enduring store of value. It does not. The United States dollar, for instance, has lost over 97% of its value since the birth of the Federal Reserve.

One way to interpret the reading is that Yi might be saying that you must "strip away" (H23) your ideas about money and finances and be "without entanglement" (H25). Whether to buy gold depends a lot on what assets one has, what percent of ones assets you are planning to convert to gold, and whether you need liquidity (whether you might need the money back any time soon). Gold costs money to buy and sell in physical form, and you will not make much money if you have to sell shortly after you buy.

Line 1: The most stable thing you rest on--financially--is a sound currency, and that is being stripped away, by irresponsible governments and sleepy citizens. Foundations (such as banks and conservative fiscal policy) are being taken away. You now have to depend more on your own thinking.

Line 4: Think about what financial "success" constitutes for you and don't undermine your ability to be successful. Except for a very few people, most don't believe all your assets should be in gold, or all under your mattress, or all in stocks. You need to be able to sleep peacefully at night, no matter how big or small your assets are, or what form they are in. So don't do anything too extreme.

Line 5: Line 5 and the dried fish is a wide open set of imagery that really can't be tied down easily. But let's explore...you get some dried fish, and they are not what you are expecting. But they do represent a resource, and you string them togeher...these can be turned to some advantage. There is a possibility that "palace women" or "middle-upper class sponsorship" will be of some advantage to you in regard to this same odd gift (the dried fish). In general, this is an auspicious line with a result that is "free from blame," or "without error." It doesn't sound like a big profit, but it does sound good.

Without knowing your income/assets/life story, it is hard to say what all this means. But let's say you are an average person and you are concerned about your loss of purchasing power. Why not buy some dried food for survival in case things get dicey in the cities. Also, store some goods that everyone needs for barter...canned goods, water, etc. Those things are mostly going up in price so this becomes a good investment. Maybe a basement full of freeze dried food (enough to share or barter with the neighbors) is a better use of assets than a few gold coins. Perhaps the man with adequate toilet paper, water and lentils will be the lucky one, "without error."

 

[patro]

i think the Yi is telling you that it's just to late for you to buy gold..... now the gold can only increase it's value by less... or it can go down.. US economy was declassed so this is maybe the zenith for gold, it can't get worser.
consider you have to buy a lot of it to get a good win but you can lost a lot of money in seconds if the price go down. it's value is too high at time isn't normal.

the right question would be to ask if the gold will still increase a lot.

edited:
gold 1740.80 oz since yesterday +23.60
+0,0135569852941176% = nothing, you'll need to buy millions of it to get a reasonable win.

 

[Lilly-La]

Hi all,

thanks a lot for your responses.
Actually i don´t want to invest in gold for a big return (to make some easy money).
All i want is not to lose the money i have on the bank, which is not much but existentiall for me.

Today the U. S. bank JP Morgan predicts a goldprice of $ 2500 / oz by the end of the year 2011.
Is gold really "now at all-time high" as icastes writes above? Worldwide inflation is on the way ...

As tigerintheboat says: one has to sleep well and i would not sleep well if i buy gold currently even though everybody is telling me to better do.
Funny enough a friend of mine thinks about buying canned food and little bottles with alcohol to resell one day.. and a famous british stock trader said last week, he would not jump on a driving bus (buying gold now) rather he invests in foodproduction ...

As well i did read up Tuck Changs interpretation of 23 .
For 23 in general he says: It is not advantageous to carry out what is planned.
However i decided not to buy gold currently. I fear a gold bubble and i would not sleep well.

 

[patro]

U.S. bank JP Morgan predicts a goldprice of $ 2500....
really?
they are trying to bump the price... by selling their reserves... so to can re-buy them once the buble explode... price go down with a big win... your money....

don't forget that JP Morgan is a bank associated with other banks... proprietary of your "FED" federal reserve bank... that isn't that federal!!!!