Gold at $805 tonight. Of course we're all still bullish, right?
MrEureka
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Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
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Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448
i had of both silver and gold, including 25+ lib half eagles.
thank you very much.
i will be preparing to buy back in shortly. i like silver at 13 and gold
at 700-750.
but i will probably start slow with buying 10 ounce silver bars... and
sort of play it by ear.
1) Beat down Oil
2) Beat down GOLD (lend GOLD at minus 3%)
Convince American Public everything is under control and we have a STRONG DOLLAR,
just before all h&ll breaks loose.....
IMO, something is definitely up.......
Buy on the dips and go long. It's not rocket science.
I am curious how these prices affect the grey sheet, though.
can't steal with a printing press.
See what's worth more in 25 years...$805 in paper money or an ounce of gold.
I brought this up in another thread, but perhaps someone can answer it here.
gold down to 740 but it will go back up from
there to 1000 and beyond.
Camelot
<< <i>let's see FED and PPT to-do list:
1) Beat down Oil
2) Beat down GOLD (lend GOLD at minus 3%)
Convince American Public everything is under control and we have a STRONG DOLLAR,
just before all h&ll breaks loose.....
IMO, something is definitely up....... >>
I remember how gasoline just happened to drop from nearly $3 to $1.99 right before the November 2006 elections.
<< <i>I can see the various Central Banks beating
gold down to 740 but it will go back up from
there to 1000 and beyond. >>
A Bear being bullish...
Mint please re-price quick.
<< <i>See what's worth more in 25 years...$805 in paper money or an ounce of gold. >>
Frank, you do the math, if you'r still around 25 years from now. BTW A $800 T Bond, paying 4.5% p/a compounded for 25 years will be worth: approx $2,400. I have my doubts if Gold will ever get that high ... heck it took almost 20 years just to get back up to $1,000
Hey, now that we have $56 down days...it only means that $56 up days are in the cards as well. As pessimism runs rampant, the dollar has the potential to turn on a dime with any nasty negative news. But the Goldman's and JPM's want to ride this down to cover their remaining shorts, then ride it right back up on their new longs.
If everyone is now convinced about gold hitting $700-$750, it's unlikely it will happen. With such a grand day in the dollar, and beat down on gold, one would have expected a far bigger return on the DOW than 48 points. What's up with that?
roadrunner
<< <i>
<< <i>See what's worth more in 25 years...$805 in paper money or an ounce of gold. >>
Frank, you do the math, if you'r still around 25 years from now. BTW A $800 T Bond, paying 4.5% p/a compounded for 25 years will be worth: approx $2,400. I have my doubts if Gold will ever get that high ... heck it took almost 20 years just to get back up to $1,000 >>
This may be true. But for a 23 year old guy like myself, it's more fun to buy physical gold than T bonds
Although, I do have a Treasury Direct account and buy regular bonds as well. It's all about diversification right?
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The strength of the dollar (no pun intended) and the quick drop in crude oil prices have fueled this free fall.
I've heard rumors oil will drop all the way to $70/barrel by October. There are some big whells turning to make this happen.
Gold could go as low as $700 in September before rebounding to $900+ this winter.
NostraDogbert has spoken.
Long term I think just about any well-established hedge against fiat money is a good place to park a portion of your wealth.
Doesn't gas just about always drop in November compared to the summer?
<< <i>i saw it coming a mile away and sold every ounce/scrap/junk silver
i had of both silver and gold, including 25+ lib half eagles.
thank you very much.
i will be preparing to buy back in shortly. i like silver at 13 and gold
at 700-750.
but i will probably start slow with buying 10 ounce silver bars... and
sort of play it by ear. >>
As did I, I sold it all!
Another contact of mine named 'Olympia' (I think she's in China) says, "Wait a week and see what happens"......
And, my best buddy 'Electorial' says, "....."
Well, we won't go there....
Rick
Don't you know by now EVERYTHING that shoots up in value at such a short time frame, falls down as hard as it went up??? Oh yeah I forgot, "things are different now".
In 1929, "Buy stocks on margin - they will go up FOREVER!!!"
In 1979, "Buy SILVER - the Hunt brothers are trying to corner the market!!! While you are at it - buy GOLD - it will hit 2000!!!"
In 1999, "You better get Janus funds with all those internet stocks - everyone else is getting rich - YOU WILL MISS THE BOAT!!!"
in 2005, "You can make 5-years your salary by buying a house in Florida, and then FLIPPING IT IN A YEAR!!!"
Today I heard a commercial on the radio stating Gold is at $1000 an ounce, and that experts feel it will triple AGAIN!!!!
Greed and the sucker is a common American staple like Chevy. And oh yes, they will still be around for years!!! (Greed, the sucker and Chevy that is).
I give away money. I collect money.
I don’t love money . I do love the Lord God.
a SMALL short position here with both GLD and SLV.
Add to the positions in little bites on ANY strength.
EOY targets:
SLV <$9
GLD <$575
...................
Best to forget the "fiat" nonsense and "the fundamentals."
The money may have "no value," but both the peasants
and the bankers are desperate to get their hands on it.
That will likley be the case deep into 2009.
hardcore GB's makes one think now is the time to enter in with another buy of the XAU... which I did. I've learned I cant
always pick tops and bottoms, but when it reverses sometimes you get left behind waiting for THE good
entry point. You win some you lose some, but thats where trading management comes in and not the
"fear and greed" syndrome. Greed causes to buy at tops and fear causes to sell at bottoms. managing
this element is crucial to market participants or you dont participate for long. (Not speaking about long
term physical buyers, but even then its nice to make your buy at $250.00 Gold and $ 4.20 Silver, circa 1999/2000).
Having a diversity of opinions assures that when you sell there is a buyer and of coures the oposite. We can not all be
right and so far on this collective trade I'm in the red and it could turn a deeper hue of red yet. HUI at 300, Xau at 136.
Reminds me of "Reminisces of a stock Trader".
<< <i>See what's worth more in 25 years...$805 in paper money or an ounce of gold. >>
Were you saying that in January of 1980?
Of course, our economically challenged gold bugs will still think we should go back to the good ole days and tie our money supply to a volatile commodity.
<< <i>Why do so many feel the govt and the central banks actually control the up and downs of commodities??? Can you say, "THE MARKETS"???
Don't you know by now EVERYTHING that shoots up in value at such a short time frame, falls down as hard as it went up??? Oh yeah I forgot, "things are different now".
In 1929, "Buy stocks on margin - they will go up FOREVER!!!"
In 1979, "Buy SILVER - the Hunt brothers are trying to corner the market!!! While you are at it - buy GOLD - it will hit 2000!!!"
In 1999, "You better get Janus funds with all those internet stocks - everyone else is getting rich - YOU WILL MISS THE BOAT!!!"
in 2005, "You can make 5-years your salary by buying a house in Florida, and then FLIPPING IT IN A YEAR!!!"
Today I heard a commercial on the radio stating Gold is at $1000 an ounce, and that experts feel it will triple AGAIN!!!!
Greed and the sucker is a common American staple like Chevy. And oh yes, they will still be around for years!!! (Greed, the sucker and Chevy that is).
>>
All true. The trick is to figure out where the next bubble will occur before the sheep pile on.
My icon IS my coin. It is a gem 1949 FBL Franklin.
I think it's directly related to the new Sheriff coming in November.
<< <i> With such a grand day in the dollar, and beat down on gold, one would have expected a far bigger return on the DOW than 48 points. What's up with that?
roadrunner >>
I agree Brian. I was thinking about that all night.
<< <i>
<< <i>
<< <i>See what's worth more in 25 years...$805 in paper money or an ounce of gold. >>
Frank, you do the math, if you'r still around 25 years from now. BTW A $800 T Bond, paying 4.5% p/a compounded for 25 years will be worth: approx $2,400. I have my doubts if Gold will ever get that high ... heck it took almost 20 years just to get back up to $1,000 >>
This may be true. But for a 23 year old guy like myself, it's more fun to buy physical gold than T bonds
Although, I do have a Treasury Direct account and buy regular bonds as well. It's all about diversification right? >>
And $800 in an equity mutual fund earning a conservative 8% will be worth approx. $5500 in 25 years. That would be my humble recommendation for a 23 year old!
<< <i>Given the fact that gold is close to the $800 level, why are people still paying roughly $1000 for the Gold Buffalo one ounce coins?
I brought this up in another thread, but perhaps someone can answer it here. >>
Dunno. Would it have something to do with the fact there is nothing for sale at $810 and someone who bought a one ounce gold eagle at $950 isn't real hot to sell it for $825?
<< <i>
<< <i> With such a grand day in the dollar, and beat down on gold, one would have expected a far bigger return on the DOW than 48 points. What's up with that?
roadrunner >>
I agree Brian. I was thinking about that all night. >>
Don't make things more complex than they are. Almost everything is keying off oil. Oil rallied off its lows and stocks lost their mojo, going down almost tick for tick as oil came up. Oil is the lead dog and almost everything is trading off it. I've been writing that for months now, as have others. Also after a 300 point up day on Friday, a lot of folks want to cash in. Recently, these rallies sometimes fade fast, so traders have been trained to take profits quickly.
I wish I had the ability to do the same.
Respectfully, John Curlis
I bought the SnP 500 almost 10 years ago when it crossed 1200 the first time. Where is the "you collect 8% line?" I'd like to be in it.
<< <i>And $800 in an equity mutual fund earning a conservative 8% will be worth approx. $5500 in 25 years.
I bought the SnP 500 almost 10 years ago when it crossed 1200 the first time. Where is the "you collect 8% line?" I'd like to be in it. >>
Who said anything about buying the S&P?
<< <i>Gold's not for short term profits, or even long term "profit" It's a way of storing wealth that the government
can't steal with a printing press.
See what's worth more in 25 years...$805 in paper money or an ounce of gold. >>
you could have said the same thing in 1980 and even added a few years!
i had of both silver and gold, including 25+ lib half eagles.
thank you very much.
i will be preparing to buy back in shortly. i like silver at 13 and gold
at 700-750.
but i will probably start slow with buying 10 ounce silver bars... and
sort of play it by ear.
fc, why the heck didn't you grab my hand and stop me about 12 days ago when I was getting ready to pull the trigger on silver?
I knew it would happen.
<< <i>BUY BUY BUY. $1200/oz by next week. >>
my early American coins & currency: -- http://yankeedoodlecoins.com/
Of course, our economically challenged gold bugs will still think we should go back to the good ole days and tie our money supply to a volatile commodity.
The "volatile commodity" in question is in actuality the US dollar which had lost 40% of its value from 2001-2008, fueling the rise in gold and commodities in general. Note that gold and commodities were dormant while the US dollar was "strong." Please don't put the cart (ie gold)in front of the horse (ie USD) and then blame the cart for what comes next. Those that don't understand the effects of monetary inflation are the ones who are economically challenged, and this includes congress as well. I would agree that tying the money supply to a barbarous relic would be far better than tying our dollar to absolutely nothing other than to the FFACOTUSG.
P.S. yes, I'm still bullish long term on precious metals and the commodity sector in general.
roadrunner
<< <i>Of course we're all still bullish, right? >>
... that, or something else with the same letters, and an additional "t".
<< <i>I am constantly impressed by the level of loyalty to the unknown and the creative explanations offered when the unknown becomes known for the moment.
I wish I had the ability to do the same.
Respectfully, John Curlis >>
LOL..... so true!
Real estate?
Housing?
Currencies?
Stocks?
Bonds?
roadrunner