Gold's down another $6
Coulport
Posts: 1,087 ✭✭✭
Do I buy now or wait?
Decisions, decisions.
Guess I could always average down.
Decisions, decisions.
Guess I could always average down.
The most money I made are on coins I haven't sold.
Got quoins?
Got quoins?
0
Comments
Whew
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
TP
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
Also two draft bills are pending: HR 163 and S 89
HR 163 & S 89
Neat little panic at market open this morning! I'm proud to say I did my part to make it all better...
Helped some Nasdaq investors feel better too....
When gold hits speculative levels for the bullion, it drives the prices up on collector grade type coins. During these periods I have to tell my customers who are working on their 8 or 12 piece type sets that they had best “cool it” if they don’t want to lose money on items like the St. Gaudens $20 gold.
It’s been said, “Make money with your arse. Buy land and sit on it.” The precious metals markets do not work that way. The idea is to buy low and sell high. And when billion prices are high SELL if you want to make money OR avoid losing money.
Isn’t it amazing how people will flock to buy gold when the price is at a two or three year high, and yet totally avoid it when it is at a low from a similar time period? It’s one of the reasons why investment counselors steer people away from gold. They are not rational about their purchases most of the time.
The next opportunity to lower your net worth!
Russ, NCNE
Well this is just Neat! A 10% profit in 3 hours............. I just may go fishing for free this weekend.
And, I think I'll listen to Bill and wait before buying any eagles............
<< <i>Could this be the result of folks cashing in on gold and silver's rise? >>
Nope, it's the short sellers doing their thing. Russ, I'm at a loss as to how a commodity whose demand is stable and supply is shrinking can stay low forever, but oh well
End the manipulation and prices will rise. Until then it IS speculation. The fundamentals are sound, but too many people with deep pockets have too much to lose if silver prices go up.
<< <i>Russ, I'm at a loss as to how a commodity whose demand is stable and supply is shrinking can stay low forever, but oh well >>
If demand were actually stable, and if supply were actually shrinking, I'd agree. There is no such thing as stable demand in commodities; it goes up, it goes down at the whim of the most powerful force of all - psychology. As for the fallacy of shrinking supply; if history has taught us anything it is that once price reaches a certain level, supply is suddenly found and expanded.
Russ, NCNE
If demand were actually stable, and if supply were actually shrinking, I'd agree. There is no such thing as stable demand in commodities; it goes up, it goes down at the whim of the most powerful force of all - psychology. As for the fallacy of shrinking supply; if history has taught us anything it is that once price reaches a certain level, supply is suddenly found and expanded
I guess one could say the same thing about currency - especially the US dollar.
:-)
Don't look at kitco tonight if you are a fan of fiat currency...
Isn’t it amazing how people will flock to buy gold when the price is at a two or three year high, and yet totally avoid it when it is at a low from a similar time period? It’s one of the reasons why investment counselors steer people away from gold. They are not rational about their purchases most of the time.
Bill, you can use this same logic for stocks, tech stocks, real estate, etc. Market psychology drives all those the same way. Human nature is driven by emotions (lust, greed, etc.). Every market cycles on this. Coins too. Boom to bust. And with the extra credit the FED has supplied to us in the past few years, it is even more acute.
roadrunner
On April 14, 2004 gold closed in NY at $399.10.
Tonight it is around $422 to $428 range.
Gold is behaving very well.
to bring us into a time space contiuum singularity. We could have lost the whole enchalida had the contiuum been breached.
roadrunner
<< <i>What on earth do we need a draft for? >>
For "freedom".
Tom
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870