if i buy 5 ounces of gold every year for like 30 years will i make a profit?
- JohnLv 711 months agoFavourite answer
Past performance is no indication of the future, as they say.
Per Kitco - 30 years ago, 1989, gold was $300 - something that I forgot to write down. Anyway, for 150 ounces (all at once, not going to amortize this over those years) - is $53,475.
Today is $1500 and those 150 ounces are $225,000 for a profit of $171,525. Seems like a lot of money but over 30 years it's not, really. And for the last 10-15 years you would have barely broken even with real numbers.
Hoarding gold has never been a great investment except for a few who just bought lucky.
- STEVEN FLv 711 months ago
Regardless of the price of gold, you don't make a profit until you SELL.
- Elaine MLv 711 months ago
Not at the current prices, no.
- JudyLv 711 months ago
no way to tell.
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- D.E.B.S.Lv 711 months ago
No. A profit can only exist when you sell something. Buying something will just get you a pile of stuff which you can hope to sell for more than you paid and more importantly more than the inflation rate.
- tiescoreLv 611 months ago
You'll have 150 Oz's of Gold at whatever gold is going for in 30 years. Less storage costs, or possible theft or misplacement loss, and less transaction fees.
Probably way better off purchasing a diversified portfolio.
- Mmm JLv 711 months ago
Only if you sell it at an amount that is more than you paid for it.
- I Like StoriesLv 711 months ago
Only if you sell it.
- MichaelLv 711 months ago
Maybe. It's pretty hard to predict the future 30 years out.
- Katherine WLv 711 months ago
Probably. But will it be more of a profit than the stock market. Will it be more of a profit than inflation? Will you be able to sell it at a profit in 30 years? What will storage cost you? Those are questions you should figure out. Look up how gold compares to the stock market over time.