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So who's playing hot potato with the metal's market?

gtstanggtstang Posts: 1,692 ✭✭✭✭✭

I only have a little myself with no plan on buying but I bet some are scrambling to buy and some are busting it to sell.

Comments

  • ParadisefoundParadisefound Posts: 8,588 ✭✭✭✭✭
    edited August 15, 2018 5:56PM

    Not me :# ... no hot potatoes here

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    check out the PM forum....They are easily identified. Same group of die hearts that have been preaching PM's as a "save heaven."

    https://forums.collectors.com/discussion/983449/how-low-will-it-go#latest

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • ColonialcoinColonialcoin Posts: 618 ✭✭✭✭

    I don’t think anyone needs to race in with both feet in the water. The price is not going to double overnight. Why try to be a hero calling the absolute bottom? So what if you miss the first 10% of the move, unless you are a day trader. The long term player will go for major bull move, whenever that may begin.

  • SmudgeSmudge Posts: 9,208 ✭✭✭✭✭

    Holding pattern here.

  • SiriusBlackSiriusBlack Posts: 1,120 ✭✭✭✭✭

    I started buying silver at the peak of the market. Lately I’ve been buying a few oz here and there to from my cost average. It doesn’t really matter though, my 20oz of silver saved for 20 years will afford me a nice dinner in retirement :D

    Collector of randomness. Photographer at PCGS. Lover of Harry Potter.

  • BillDugan1959BillDugan1959 Posts: 3,821 ✭✭✭✭✭

    I am somewhat of a stacker and don't touch the stack. Except for the boating accident.

  • ColonialcoinColonialcoin Posts: 618 ✭✭✭✭

    Please pm me when Jim Cramer tells his viewers to sell! ;)

  • fiftysevenerfiftysevener Posts: 896 ✭✭✭✭

    Somebody call the major marketers and ask them when. They will probably say 'when what'

  • keetskeets Posts: 25,351 ✭✭✭✭✭

    PM's in general are really, really falling but Silver in particular seems hard hit. at this rate it will be around $14 at Friday close and probably lower unless there's a rally of some sort. I talked with my boss yesterday and the down cycle is speeding up to where sellers aren't moving now. my sense is that they see a big drop and have decided to wait it out. we actually have little in the store to sell and noone offering to sell to us.

  • Dave99BDave99B Posts: 8,331 ✭✭✭✭✭

    I'm buying regularly (mainly silver). I can't seem to get enough. Just placed my third order this month with CoinExchangeNY.com. I really like their prices/service.

    Take fun,
    Dave

    Always looking for original, better date VF20-VF35 Barber quarters and halves, and a quality beer.
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭

    Selectively buying !!! :)

    Timbuk3
  • MsMorrisineMsMorrisine Posts: 32,123 ✭✭✭✭✭

    My hands are on fire :'(

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • dennis1219dennis1219 Posts: 267 ✭✭✭

    I am long term gold and silver. Love the drop. Buying more, even with the knowledge it could drop even more. This economy , though good, is smoke and mirrors.

  • CameonutCameonut Posts: 7,250 ✭✭✭✭✭

    I tend to buy multiple times on the way down. I hold for the longer term but take profit opportunities when appropriate. If you think you can predict the bottom, please enlighten all of us. In the meantime, I'll take advantage of the strong dollar to set aside some physical metal.

    I love movement in the metals markets but typically stick with gold and silver. Pt, Pd, and Rh, are a bit too scary for me.

    “In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson

    My digital cameo album 1950-64 Cameos - take a look!

  • lkeneficlkenefic Posts: 7,738 ✭✭✭✭✭

    I'm looking at the 5 year low for gold at ~$1100 and the 10 year low at ~$800... how low will it go? Let me check my crystal ball! Seriously though, if gold approaches $1000 and common date $20 Libs follow, I'm all over it...

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • coinpalicecoinpalice Posts: 2,435 ✭✭✭✭✭

    anyone notice gold dropped another 13 dollars in overnight trading? now 1161 and falling

  • crazyhounddogcrazyhounddog Posts: 13,776 ✭✭✭✭✭

    I’m gonna guess it will continue on the downward direction. Of course no one knows for sure but with the dollar coming in strong and the stock market doing well the future does seem bright for the big boys to carry on with this investment trend.
    The other side of the coin is ya better watch it

    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • BryceMBryceM Posts: 11,721 ✭✭✭✭✭

    Cost averaging is the only sensible way to do it in my book. Anything else is speculating.

  • meluaufeetmeluaufeet Posts: 746 ✭✭✭

    Its not just gold that's getting beat up. Slowing growth, rising inflation can lead to slowing growth and lower inflation, just the type of stuff that makes me move towards long bond and interest rate proxies. I think the 4% GDP print was the high until sometime next year. YoY rate of change is going to look ugly for the next couple of quarters or so.

  • RayboRaybo Posts: 5,273 ✭✭✭✭✭

    What about platinum?

  • In my opinion, all of these strong company earnings are smoke and mirrors. The world economy is a house of cards and America is on the top. Once reality hits the fan, we are in for a sharp decline in the S&P and Dow and metals will benefit. Of course, that's not really that impressive of a prediction... this stuff is cyclical, right?

    Numismatic Asset Management
    "helping rare coin buyers avoid critical mistakes"

  • ElmhurstElmhurst Posts: 768 ✭✭✭

    I heard that Turkey is dumping gold for hard currency in order to salvage the lira. Anyway, not buying nor selling at this point.

  • lkeneficlkenefic Posts: 7,738 ✭✭✭✭✭

    I'm betting it will either go up, down, or stay the same... ;-)

    Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;

    Successful BST transactions with: SilverEagles92; Ahrensdad; Smitty; GregHansen; Lablade; Mercury10c; copperflopper; whatsup; KISHU1; scrapman1077, crispy, canadanz, smallchange, robkool, Mission16, ranshdow, ibzman350, Fallguy, Collectorcoins, SurfinxHI, jwitten, Walkerguy21D, dsessom.
  • DIMEMANDIMEMAN Posts: 22,403 ✭✭✭✭✭

    I don't have any to buy or sell or worry about......and never will. I'm strictly a coin collector.....no bullion.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @rarecoinanalyst said:
    In my opinion, all of these strong company earnings are smoke and mirrors. The world economy is a house of cards and America is on the top. Once reality hits the fan, we are in for a sharp decline in the S&P and Dow and metals will benefit. Of course, that's not really that impressive of a prediction... this stuff is cyclical, right?

    You've been brainwashed by the online tabloids & PM pushers with that mindset. (smoke & mirrors...a house of cards? Did you come up by yourself with that bs? ) Reality: Yes, there will be a market correction, but when it happens, is anyone's guess. Metals have not benefited when the market tanked, but only after the market recovered. Consider PM's just another non dividend paying asset that has been in a state of correction for approx. 6 years after reaching all time highs. That to will pass & PM's will recover.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Time will tell, my friend. Time will tell. Good luck with your investments! Cheers!

    Numismatic Asset Management
    "helping rare coin buyers avoid critical mistakes"

  • Mission16Mission16 Posts: 1,413 ✭✭✭

    I buy a little every month, just like guns and ammo.

  • rickoricko Posts: 98,724 ✭✭✭✭✭

    For those of us who have been in PM's for decades, this is not worrisome. Stacking gold and silver back then seemed expensive, today's price is still triple what it was then....Cheers, RickO

  • ctf_error_coinsctf_error_coins Posts: 15,433 ✭✭✭✭✭

    @lkenefic said:
    I'm betting it will either go up, down, or stay the same... ;-)

    It will not stay the same

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭

    BST. Everyday. It's what I do. Business as usual.

  • sellitstoresellitstore Posts: 2,406 ✭✭✭✭✭

    Gold is going down in dollars because the dollar is stronger over the last few days due to the problems with Turkish Lire and other currencies.

    In Turkey gold has risen substantially over the past two weeks from 6100 to 7800 Lire/oz.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
  • jmski52jmski52 Posts: 22,298 ✭✭✭✭✭
    edited August 16, 2018 8:31AM

    @OPA said: Metals have not benefited when the market tanked, but only after the market recovered.

    You may want to research that statement a little bit. My distinct recollection is that the metals recovered much faster than the stock market after the last stock market fiasco. Much faster.

    Of course, after the QE era became the norm, the metals markets began their long slide to the current levels.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.

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