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gold drops $42 the day after I buy

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  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    double downimage
  • johnjinxjohnjinx Posts: 365 ✭✭✭
    I think I'm to blame. I bought silver and it went down. Then I bought some gold and it went down as well. Don't worry, I won't buy anymore so that it has a chance to go back up.
  • CaptHenwayCaptHenway Posts: 32,228 ✭✭✭✭✭
    Welcome to the club.
    Do it enough times and you can qualify as a dealer.
    image
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • commoncents123commoncents123 Posts: 2,648 ✭
    Where will it be in a week?
  • OPAOPA Posts: 17,124 ✭✭✭✭✭
    When will investors ever learn ... never chase money in a down market ... wait for it to rebound ... you may not catch the bottom ... but you sure won't loose either.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,899 ✭✭✭✭✭
    Re-examine why you bought gold. Were you planning to sell any time soon? If so, you're buying with unrealistic expectations. Just my 2 cents.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • BBNBBN Posts: 3,761 ✭✭✭
    Despite the dip I'm finding gold bullion is still bidding up to the $900 range on ebay and certified old gold is still upwards of $1200 for MS62s.

    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
  • ProofCollectionProofCollection Posts: 6,246 ✭✭✭✭✭
    When you come to the realization that you will rarely if ever pick the bottom, this becomes meaningless. If you can come in anywhere close to the bottom, and/or if you can catch the next bull run be happy.
  • DeadhorseDeadhorse Posts: 3,720 ✭
    Never invest money that you can't afford to lose.

    Having said that, just wait for a while, you'll come out smelling like a rose.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • johnjinxjohnjinx Posts: 365 ✭✭✭
    I'm not selling. I'll be holding for a while. I haven't sold any PM that I have bought so far.
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    Did you buy paper gold or real gold? I wish real gold (and silver) would drop like that...
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Did you buy paper gold or real gold? I wish real gold (and silver) would drop like that... >>




    Bite your tongue!!

    Many of us don't share that wish, besides you got a huge drop last summer anyway.

    Don't be greedy.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • johnjinxjohnjinx Posts: 365 ✭✭✭


    << <i>Did you buy paper gold or real gold? I wish real gold (and silver) would drop like that... >>



    I don't any paper PMs. The real thing is best.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    never chase money in a down market ... wait for it to rebound ... you may not catch the bottom ... but you sure won't loose either.

    ....and a fair chance you won't make anything either.

    Great advice if you have foolproof methods of figuring out only when up markets are occuring. So let me guess, you didn't hold any mutual funds from 2000 to late 2007? And no one made the mistake of buying gold when it recently rocketed from $739 to $930 because it was "obviously in a down market?" Hindsight is just so easy. So which bounce is the bottom? You'll get a good chance to practice this technique on the Dow and S&P as they bounce of so-called new bottoms a number of times over the next couple of years.
    What's the advice? Wait until a no questions buying hand-over-fist new bull in the Dow occurs in 5-10 years or play each of these mini-cycles that will be coming every 3-9 months?

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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