I guess it's all over for the gold bugs.

Russ

Gold is down to about $640. Platinum was down $44 today! Freefall time!

Russ, NCNE

Bear

Powerful interests manipulate the commodities.

It is the sheep that get sheared.

robertpr

<< <i>Powerful interests manipulate the commodities.

It is the sheep that get sheared. >>



And why don't bears get sheared?

relayer

Things change

Longacre

It's a blood bath.

mrearlygold

It's not over

granddad

I liquidated gold and silver two weeks ago yesterday. Gold was 7 and change and siver was 14.59. Almost bought back in on silver the following Monday at $12.24, still in the almost stage.

Have a Great Day!
Louis

Baley

If I were worried about the day to day moves of gold, growth stocks, and real estate...

well, suffice it to say that I'm not in those asset classes for the day to day moves.

Bear

Bears dont play in the commodity markets.

I choose to lose my money in other endeavers.

RVDavis

I spent Feb 1996- Sept 2001 on Wall Street. I learned that bears and bulls get fed, pigs get slaughtered. Trading in anything can kill you if you fall in love with the commondity/equity/option/future etc. The arbs make money on these big price swings but they have to put serious money in play to make fractions of a percent.
Just my opinion

CC2GO

Everyone better sell their gold coins while they can still get something out of them!

robertpr

Let's hope those bullion stockpilers in the WS of trading fall on their faces.

ledzep87

Finally!! I hope it falls below $500!

roadrunner

It's all over??? Naah. Just sheep shearin going on as was already stated. Weak hands being plucked clean.

Gold will exceed the current 2006 high sometime later this year.
If someone would like to PM me for a "little" wager please go ahead.
It is far from over for PM's. We are at the end of phase 1 or early in phase 2. That means the big one, phase 3, is out on the horizon still.

roadrunner

BECOKA

It sure is not over on the coin market. I just bid $1150 for a $900 dollar coin on e-bay and got beat up big time by Leeg and Centsless. It sold for $1450.

coinpage

<< <i>... Weak hands being plucked clean....
>>



Indeed, you only lose if you choose to sell at a loss

Dave99B

SELL! Then buy GE.

Dave

BlindedByEgo

<< <i>Gold is down to about $640. Platinum was down $44 today! Freefall time!

Russ, NCNE >>



Gee... A volatile gold market... Who knew?

stiffy

Just a belch in the feeding frenzy, or perhaps many buyers are going on a diet?

CoinValuesResearcher

But... but..... but....

I keep hearing these radio commercials screaming that gold is going to pass $1000/oz soon. Very soon! Get your order in today!

Who knows where gold is headed. It may come to pass that gold really does go on to hit all time new highs, or it may continue its fall toward normalcy.

The only thing I know of for sure is the guys selling precious metals are relentless in their sales pitch.

Steve27

It's still going down:

ttown

Time to buy on the dips, what part of that don't some of you understand. You sell on fear and shouldn't be in any inverstments, just keep you paper money in the mattress I'm sure it will be worth a ton when you retire....at least a it's not as bad an inverstment as the dollare worth a whole .04 cents since 1913.

agentjim007

is this really a dip? maybe the real dip is what it was a year ago.

Gemineye

The Fed is trying to keep a tight supply on the cash...by raising the interest rates a bit....

mojorizn

Dollar-cost averaging. Just another opportunity to buy.

Mojo

tradedollarnut

<< <i>Dollar-cost averaging. Just another opportunity to buy.

Mojo >>



That's what I told myself at $20 silver in 1980.

mojorizn

Good point!

Mojo

dizzyfoxx

<< <i>Gold is down to about $640. Platinum was down $44 today! Freefall time!

Russ, NCNE >>



...and nicely toned coins are up by a "monster" % ...go figure.

CoinHusker

<< <i>
And why don't bears get sheared? >>




I always thought they got turned into rugs.

ziggy29

<< <i>And why don't bears get sheared? >>

As they say on Wall Street, bulls make money, bears make money, pigs get slaughtered.

mhammerman

Bugs are greatly misunderstood. Bugs don't speculate, bugs accumulate...they buy on dips and accumulate, occasionally liquidate a little to the speculators when they show their greedy little faces. True bugs are conservative by nature and usually well studied in their persuit. They are pretty much immune to criticism or the meaningless drivel offered by wise guys, prognosticators, telemarketers, newspaper hypesters, motel buyers, etc.

If you have ever held a wrapped engelhard 10 oz bar in your hands or put a handful of wrapped 1 oz bars in your pocket, you will feel the comfort of having a speck of insulation against currency devaluations, plagues and disasters, world economic craziness, bank failures, stock crashes, all the bad things. Mulitply that 10 oz bar by ten and you have provided a level of security for yourself, your family, and your home that is somewhat better than an insurance policy that may or may not pay out (as all the Katrina people found out). And all it takes to be part of it is to buy on dips or quiet periods and accumulate patiently, bit by bit, over time, until you have what you feel is enough. And if (when) the wolf comes to your door, you don't have to take out a second mortgage, sell the second car, sell your coins, get a line of credit, tap a cash advance on your credit cards, or get an unsecured loan...you just drop a few of those oz bars or gold coins on the counter, take your cash, and finish your business. You can do that in Singapore, Bejing, Nome, Caracas, Fiji, San Francisco, anywhere in the world. It's a very liquid hard asset savings account that is not on the books.

Gold is not the answer, but it is part of the solution along with cash savings, stocks, realestate, insurance, and in our case...rare coins. It's not over for the gold bugs...they are out there, quietly accumulating and occasionally selling a little at a high price so they can buy a little more at a lower price. It's all good.

JMHO

MrKelso

I am buying today. Placed my Biweekly order a few minutes ago.

lloydmincy

<<and you have provided a level of security for yourself, your family, and your home that is somewhat better than an insurance policy that may or may not pay out>>

WOW!!! Buying a gold bar is a better policy than insurance protecting the loss of your HOME??? I didnt know that.

BUY AS MUCH GOLD AS YOU CAN!!! IT IS GOING THROUGH THE ROOF! YOU HEARD IT HEAR FIRST. OF ALL THE HORRIBLE ECONOMIC AND FINANCIAL ISSUES IN THE WORLD, GOLD GUARANTEES YOU FOOD, CLOTHING AND SHELTER!!!

Thanks. I learn something new everyday...

Whitby

Darn shame that argument has been around since the days of oh gee, THE BIBLE. But thankfully, its news to me and I better act fast.

Longacre

Gold is so OVER, man. It's yesterday's news. I like the idea above to sell gold and buy GE.

TwoSides2aCoin

<< <i>It sure is not over on the coin market. I just bid $1150 for a $900 dollar coin on e-bay and got beat up big time by Leeg and Centsless. It sold for $1450. >>






LOL


Those guys beat me a few times, too... It was then I realized what a weenie I am. Lakesammman destroyed my attempt at a few Cheerios Sackies

But I felt good being in such company, ....

Anyway, great start to a debate Russ.
In the commodoties, the metals will taper off, but I don't think they will free fall. The overall beauty of this adjustment is that you will see COIN values rise and hold. Never to drop in value because every day a NEW Miss Matist is born.

PROOF Gold will not DROP in PRICE at the US MINT. Nor will silver !
Wanna bet ?
edit to remember: NO BETTING

mhammerman

WOW!!! Buying a gold bar is a better policy than insurance protecting the loss of your HOME??? I didnt know that

Text

Text

Hummmm...you decide.

Newb

People were saying the same thing when gold dropped from $540 to $490 in mid Dec. It's had no correction on its run from $560 to $720. It's been due. Gold is probably where it should be at this point, according to the charts.

The hucksters are annoying, but so far they've been right. I'm not saying we'll see $2000 gold anytime soon or ever, but I wish I had listened when they told me to buy at $250 lol.

Russ

<< <i>Let's hope those bullion stockpilers in the WS of trading fall on their faces. >>



Sold all mine a week ago. Strangely, I moved up from #47 to #45 today with no gain in portfolio value.

Russ, NCNE

ewitte

Great time to buy more. I might do so if it drops some more when my 1999 silver quarters end and I have some $ in paypal. It does not seem to be hitting the coin market as hard. I'm looking at a few ebay auctions. The 2000 gold eagles are ending about the same price as what I paid 2-3 weeks ago.

Coxe

Gold is likely to test 600 support and that is the buying point. Margin covering will buoy it at the very least in that area. Inflation can only be managed superficially with interest rate hikes. There is no undoing debt that easily nor a possibility of realigning the money supply. Furthermore, when (not if) the next terrorist event occurs on US soil, regardless of who is on the Hill and who is residing at 1600 Penna Ave, things will get costly again in associated efforts.

We aren't yet anywhere near inflation-adjusted record valuation territory. Metals did get a tad ahead of themselves, must pull back here and there, and will likely resume trending as they were.

Added:
Will be interesting to see the temporary ranking realignment in the World Series now.

fishcooker

Gold may be great but it was absolutely worthless to the Katrina victims inside New Orleans. Plus, no one was paying for stuff anymore anyway.

TwoSides2aCoin

<< <i>Gold may be great but it was absolutely worthless to the Katrina victims inside New Orleans. Plus, no one was paying for stuff anymore anyway. >>



In the face of death, gold is meaninglesss. Love and compassion and helping hands are worth more than gold in the aforementiond scenario.
Stuff is irrelevant in times such as hurricanes, floods, tornadoes, fires, and death. But, in the market.... the survivors work through it, just as one rebuilds one's life after having fallen victim to any catastrophic or traumatic event.


Coins anyone ?

Russ

<< <i>Love and compassion and helping hands are worth more than gold in the aforementiond scenario. >>



And, a well stocked arsenal is worth more than all of that.

Russ, NCNE

lloydmincy

Every time we talk of gold, it turns into an economic thread, which, is O.K. to me, because ANY form of investing, you need to take in effect economic issues as well:

Gold has been a speculators paradise, as well as other metal commodities. But American investors, (not overseas) are short-termed. How many American "investors" are involved in the gold up-trend, and are they starting to hit the panic button?? I don't think many, but so many clients of mine have asked about GOLD lately. Ship of fools. Last year they were asking me about Florida real estate!!! You get the idea.

Always when the boom ALREADY HAPPENED.

Mhammerman brought up an interesting point about insurance coverage and your home, with examples from Katrina disaster. Point? A good thing to look at is "where is your primary residence, and do you have GOOD coverage on your home???"

My primary home is in Michigan, and you can laugh, but I think it is the safest place in America. No hurricanes, mudslides, earthquakes, tornadoes are few and far between, no river to overflood, and I doubt terrorists have Detroit high on their attack list. (Especially since Dearborn, MI, 30 miles from me, has the HIGHEST population of middle easterners in the U.S!!!). My home is pretty safe, I would say. (But I do share a home in Hollywood with a couple, and that could get wiped out in a mudslide anytime!!!). Anyway...

If I was living in California, or near the coasts, or on the St. Andres Faultline, etc., I would SERIOUSLY think of selling my home, and then RENTING. Why NOT??? You could live on the beach, and not worry about losing your home due to a catastrophe, and the insurance company not covering it. That's what I would do. Florida, I would sell my coastal home, move inland, or rent. But are the hurricanes that BAD??? Katrina was an interesting case because of flooding AFTER the hurricane, but would not everyone take note of this disaster, and be pro-active in case....???

Only the wealthy or semi-middle class have a home to lose. Those that can't afford one, or are renting, have VERY LITTLE TO LOSE (regarding home ownership). I remember when I was young, two of my buddies started renting a house on Manhattan Beach, and they were so happy, and I was mad I took a job with IBM, had to wear a white shirt, blue suit and red tie, had to be at work by 8am, and because I had good grades, got "the job everyone wanted". So I was making good money, and had money to lose, while they were renting, and surfing.

If I could do it all over again....

Russ

Platinum down another $69 right now.

Russ, NCNE

streeter

Watch gold correct to $550.

We are in the beginning of the PERFECT STORM in this economy in the USA and the WORLD.

I see--right now---people selling assets at less than 30 cents on the dollar to stay afloat..........and the blood is not yet running in the streets. The weakest hands are being picked clean right now.

Are you the PICKOR or the PICKEE?

topstuf

from my post on goldblogger.net:

"
Anyone with an ounce of brains, a rudimentary grasp of deficit economics, and the slightest exposure to history can ONLY come to the conclusion that gold is the single best way to achieve a stable preservation of wealth.

Let's look at that again.

Anyone with an ounce of brains, a rudimentary grasp of deficit economics, and the slightest exposure to history ...

uh.....

We're DOOMED!

Deadhorse

This is simply a buying opportunity.

I'm just quietly adding a few more ounces of gold and a few more 100 oz bars of silver as they become available. Not seeing a lot of either available right now.

Looks like people are holding and waiting. Still, there will always be people selling for economic reasons even when the overall market is slow.

jabba

<< <i>

<< <i>Let's hope those bullion stockpilers in the WS of trading fall on their faces. >>



Sold all mine a week ago. Strangely, I moved up from #47 to #45 today with no gain in portfolio value.

Russ, NCNE >>



I was 51 and now Im 49 with no $$ change, so who got let holding the bag????

INXS

Sold my reserve two weeks ago, I am buying now.