With Gold now at an Ask of 331.60 Do you have all your Gold Coins?
MrKelso
Posts: 2,907 ✭✭✭
An article on Gold did you buy all your Gold Coins and Bullion for the year yet? As a side note Silver is now at an ask of 4.72 Could this be the break out that causes the Coin Market to Sky-Rocket to new Highs?
Gold posted a solid gain today pushing through the $325 resistance level. Gold reached as high as $328.30 basis the February contract before easing back slightly. However, the strength in gold is very impressive. Gold may be building the momentum needed to push above the $330 resistance level. If that occurs, an explosive move into the $350 zone is possible. The gold market is at a major turning point as it is nearing a breakout. Most analysts believe that gold will be contained at $330 and it may well be for the remainder of this year. However, the trend lines are clearly pointing higher and a break out seems imminent.
Whether it occurs before the end of the month or shortly thereafter, it is appearing more likely that it will occur. With gold up more than 20% in the past 12 months, it has certainly been the most profitable investment of all. More importantly, it looks like it has the best upside potential of any investment. As Merrill Lynch and others have warned, the stock market remains in a bear mode. The stock market is one that has unreasonable risk and little potential for profits. Gold, after having made a 20 year double bottom and now in a very distinct rising trend over the past few years, is clearly the asset of choice for low risk and high upside potential.
$20 no Motto anyone?
Gold posted a solid gain today pushing through the $325 resistance level. Gold reached as high as $328.30 basis the February contract before easing back slightly. However, the strength in gold is very impressive. Gold may be building the momentum needed to push above the $330 resistance level. If that occurs, an explosive move into the $350 zone is possible. The gold market is at a major turning point as it is nearing a breakout. Most analysts believe that gold will be contained at $330 and it may well be for the remainder of this year. However, the trend lines are clearly pointing higher and a break out seems imminent.
Whether it occurs before the end of the month or shortly thereafter, it is appearing more likely that it will occur. With gold up more than 20% in the past 12 months, it has certainly been the most profitable investment of all. More importantly, it looks like it has the best upside potential of any investment. As Merrill Lynch and others have warned, the stock market remains in a bear mode. The stock market is one that has unreasonable risk and little potential for profits. Gold, after having made a 20 year double bottom and now in a very distinct rising trend over the past few years, is clearly the asset of choice for low risk and high upside potential.
$20 no Motto anyone?
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
0
Comments
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>Time to short gold and buy put options on gold...
WHat does that mean? I am not that Learned about puts and calls. Gold will hit $400.00 with Little effort in the comming months is my Thoughts.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
sincerely michael
waHT DO YOU THINK GOLD WILL BE AT BY DEC 31 OF THGIS YEAR another three weeks> i say 352 any other guessers??
good shot in the arm to get things rolling again.
I concur with Michael about picking up nice Saints (MS62-64) and nice $20 Libs (MS62-63) with good eye appeal. This past weekend I purchased 10 such pieces at a local show. Had there been more, I would have bought more.
roadrunner
<< <i>that is wy in my opinion, if you are going to buy gold you buy nice looking spot free eye appealling ngc pcgs anx icg gold saints ms63/64/65 the 64 coins and somewhat 65 coins are the best buys i think you get some gold and semi num ismatic and one of the worlds most beautiful coins
sincerely michael
waHT DO YOU THINK GOLD WILL BE AT BY DEC 31 OF THGIS YEAR another three weeks> i say 352 any other guessers?? >>
You are making my mouth water for MORE MORE MORE of those BEAUTIFUL SAINTS. AT the end of this year one can only hope for the 350.00 Support Level.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
Now I have just finished a basic gold type set with a '76-CC $20 NGC 55 and an ANACS XF-45 '49 no L $1. NOW it's time to get out into the Southern California sunshine and get some fresh smoggy air! The coins go in the vault until Anaheim and Long Beach-time permitting.
I'm just not into gambling-like speculation right now. I got into a lot of trouble due to betting "back in the day" and don't need the headaches. I have steady income, albeit from VA/SocSec disability, and good prospects. Coins are for fun, meeting people, and a relatively decent place to put a few bucks away if done carefully. It's always interesting to read the different opinions here. As they say, "take what you need and leave the rest."
Take care,
Barney
<< <i>I collect now. No more gold speculation. I bought type classic pieces last year when gold was at $275 and sold them in June when it hit $325. I made a modest profit.
Now I have almost finished a basic gold type set with a '76-CC $20 NGC 55. I just need a type I gold dollar to finish the job. Then the coins go in the vault until Anaheim and Long Beach-time permitting.
I'm just not into gambling-like speculation right now. I got into a lot of trouble due to betting "back in the day" and don't need the headaches. I have steady income, albeit from VA/SocSec disability, and good prospects. Coins are for fun, meeting people, and a relatively decent place to put a few bucks away if done carefully. It's always interesting to read the different opinions here. As they say, "take what you need and leave the rest."
Take care,
Barney >>
Well said Barney and you are so right it is for fun and we should never loose sight of that. I just happen to take it a step further as i have a great disbelief in the paper Dollar and Folks close to me that know me real well tell me that i should have lived in the 1800's and not now. I reply to them but then i would be dead and not having any fun. Take care GOD bless and have fun.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>I'm selling at $341.
Leo
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
You write the first post sounding like you are a broker or something and then you don't know what it means to short gold or buy a put?
Are you repeating what you read/heard from some firm?
I don't know what the bid is (probably over 331 if the ask is 331.60) but that would mean it just broke the $330 resistance.
There was strong $340 support in 1991-1997 but dropped down to $252.20 in September 1999.
There was a runaway market in late 1979 and early 1980 which peaked near $873 in February 1980.
I hope it repeats soon - it will pull up other markets like SILVER!!!
and I can sell my pre-1964 Washington quarters/1964 Kennedys - other nondescript older coins.
As far as gold prices go $20 days have been seen - major resistance just broke - we could see $400 by years end (or $290), tomorrow and Monday 12/16 will be big to see if trend explodes and runs away or runs into a wall and gets pushed back down.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>What's up MrKelso?
You write the first post sounding like you are a broker or something and then you don't know what it means to short gold or buy a put?
Are you repeating what you read/heard from some firm?
I don't know what the bid is (probably over 331 if the ask is 331.60) but that would mean it just broke the $330 resistance.
There was strong $340 support in 1991-1997 but dropped down to $252.20 in September 1999.
There was a runaway market in late 1979 and early 1980 which peaked near $873 in February 1980.
I hope it repeats soon - it will pull up other markets like SILVER!!!
and I can sell my pre-1964 Washington quarters/1964 Kennedys - other nondescript older coins.
As far as gold prices go $20 days have been seen - major resistance just broke - we could see $400 by years end (or $290), tomorrow and Monday 12/16 will be big to see if trend explodes and runs away or runs into a wall and gets pushed back down. >>
Nope not a broker and never played the market with this Put and call thing as i don't know enough about it to take the gamble. Just a simple LONG term invester that likes to watch real money react to world events while i move along through life enjoying my collections.
Whats Lucent doing?
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
top end gold probably would be most beneficial percentage-wise, but also would be harder to move quickly when prices started falling. What goes up quick also comes down quick
if you have lots of investment money and like holding gold coins then ->
double eagles -> 0.96750 oz. pure gold
eagles -> 0.48375 oz.
half eagles -> .24187 oz.
early bust have more 1838/39 and later are 90%gold with 10%copper
the housing market is slowing, unemployment is high, consumer confidence stinks, commodity prices have been rising for the past year, the world is poised for war, and the central banks have such a load to handle with other financial woes that they may be about ready to toss in the towel on the gold manipulation of the past 20 years. Yes, this looks much different than 1999!
roadrunner
I got in when several of the juniors were under a dollar and have several 3 baggers right now. I love gold
stocks but they aren't for people who are disturbed by violent price swings. You pay your money and you take
your chances.
Scott M
Everything is linear if plotted log-log with a fat magic marker
<< <i>I did some profit taking after hours and will be converting that to coins. Still holding several miners for $350.
I got in when several of the juniors were under a dollar and have several 3 baggers right now. I love gold
stocks but they aren't for people who are disturbed by violent price swings. You pay your money and you take
your chances.
Scott M >>
I was looking at the pre open and pre fix and it seemed to be $3.45 higher and swinging. I think today would be a good day to consolidate the smaller minning company stocks and buy into the big boys. Now to find out who has the best earnings.
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
<< <i>There could be a major breakout in metals and energy if Bush decides to nuke the middle east -
Wow, scary. I am concentrating more on gold now after reading the
replies in this thread.
My website
will be losing money as the price climbs. I have several sell orders outstanding, we'll see which way it
plays out today.
Scott M
Everything is linear if plotted log-log with a fat magic marker
<< <i>MrKelso, if you're getting into the big boys make sure the ones you pick are unhedged. The hedged miners
will be losing money as the price climbs. I have several sell orders outstanding, we'll see which way it
plays out today.
Scott M >>
Thanks Scott
I am in A temp Holding pattern right now. I am logged on to my account at the Bullion desk and am watching the bullion bounce all over the place today. Plenty of activity but to me it looks like something keeps trying to knock the price back. Have to go look at the minning stocks next.
Picked up a few very nice MS62 1932 $10 Indians today at a real nice price.
Happy Trading
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
I don't think there was a PM forum then, a little throw back.
Any guesses where it will be 8 years from now?
TD
<< <i>About a year and a half before this post, gold was down around $255. We had a customer who wanted to buy a million dollars worth of gold maple leafs as soon as it got down to $250. It never did, and he didn't.
TD >>
"A fool and his money..." Well, some varient of that!
In 8 years will we regret not buying a lot more at $1200? Investments are all a gamble.
<< <i>That has got to be a record for time between posts. Very interesting. >>
Who the hell keeps a record of such old stuff OR has the time to go look this crapola up?
<< <i>
<< <i>About a year and a half before this post, gold was down around $255. We had a customer who wanted to buy a million dollars worth of gold maple leafs as soon as it got down to $250. It never did, and he didn't.
TD >>
"A fool and his money..." Well, some varient of that!
In 8 years will we regret not buying a lot more at $1200? Investments are all a gamble. >>
Marlene, come 12/22/2012, none of it will matter!
The name is LEE!
<< <i>Marlene, come 12/22/2012, none of it will matter!
If you have a biilion euros and a dog that can walk a tightrope, you'll be ok!
60 years into this hobby and I'm still working on my Lincoln set!
<< <i>In 8 years will we regret not buying a lot more at $1200? Investments are all a gamble. >>
Or wishing we sold everything at $1200+ ?
When people see the title of this thread
and not the date it was started
Just thought it would be neat to visit a past thread, with all the fake thread stuff, just a little change.
Took no time at all to run a query, just throw in a date, and a key word.
<< <i>Just thought it would be neat to visit a past thread, with all the fake thread stuff, just a little change.
Took no time at all to run a query, just throw in a date, and a key word. >>
We could start another thread about 1099s...
<< <i>
<< <i>In 8 years will we regret not buying a lot more at $1200? Investments are all a gamble. >>
Or wishing we sold everything at $1200+ ?
yep. Either scenario could be. Truth is, no one knows where any of their investments will go.
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
<< <i>When it hits $1200.00 or so I'll sell..... >>
Do you have any gold left?
<< <i>
<< <i>Just thought it would be neat to visit a past thread, with all the fake thread stuff, just a little change.
Took no time at all to run a query, just throw in a date, and a key word. >>
We could start another thread about 1099s...
No, please don't, I'm begging you....
Luckily it was 2002.
If we get hyperinflation, a $50 gold eagle might be "worth" a lot more than $1200 but may have no more spending power than today.
My Adolph A. Weinman signature
