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Gold down, silver Waaay down

WeissWeiss Posts: 9,941 ✭✭✭✭✭
in Precious Metals
Below $16 now.
We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
--Severian the Lame

Comments

  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image
    Avid collector of GSA's.
  • PreTurbPreTurb Posts: 1,193 ✭✭✭
    Sweet. I'd love to see $9 silver and $200 palladium again (I'm in the still-accumulating camp).
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    It better move up as I am having to sell for a move......any drop affects my moving funds!!!!!
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  • fivecentsfivecents Posts: 11,207 ✭✭✭✭✭


    << <i>It better move up as I am having to sell for a move......any drop affects my moving funds!!!!! >>

    Maybe PMs will get a quick bump up to help your moving fund.

    Precious metals.........she is very fickle mistress.image
  • ttownttown Posts: 4,472 ✭✭✭
    Breakdown Of The Gold Market
  • SmittysSmittys Posts: 9,876 ✭✭✭✭✭
    I was getting ready to sell 20K worth of melts mainly silver, image
    Looks like everytime I wanna make a big move the Markets works against meimage
    Maybe I'll hold out on selling and loose even more
    Silver down .97 OUCH OUCH OUCH
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  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    Something tells me that if I try to buy any silver at the Long Beach show tomorrow that the dealers will still be selling at last week's prices image

    Of course if I were selling they would have their prices updated every minute. image

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>I was getting ready to sell 20K worth of melts mainly silver, image
    Looks like everytime I wanna make a big move the Markets works against meimage
    Maybe I'll hold out on selling and loose even more
    Silver down .97 OUCH OUCH OUCH >>



    I know the feeling ... I was going to dump some palladium to take some $ of the table, but decided against it.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Interesting read, ttown.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
    Ttown, That is very interesting. With regards to London "running out of gold", when they say, "You won't find this reported elsewhere", I have to ask "why?"

    Of course, we all know the sharp drop today is totally because of the "Long Beach Curse". image
    Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:
  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭


    << <i>It better move up as I am having to sell for a move......any drop affects my moving funds!!!!! >>



    Hurry up and sell so it'll start moving up again.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    With my luck, I sell and then after I get settled and want to stack again, silver jumps skyhigh and I'm left behind and having to go on here begging you guys to sell me back some silver image

    Nah, I have some 90% as backup image
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  • cohodkcohodk Posts: 19,109 ✭✭✭✭✭


    << <i>Breakdown Of The Gold Market >>



    Its stories like this that keep physical holders in the game. All the time thinking its only paper holders who will suffer loss. Sad.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • jmski52jmski52 Posts: 22,826 ✭✭✭✭✭
    Its stories like this that keep physical holders in the game. All the time thinking its only paper holders who will suffer loss. Sad.

    The "game" is stocks, bonds and currencies. The only time that "they" pay any attention to gold is when it starts to make "them" look bad. Not sad.

    Added: cohodk, I can understand why a person might decide to get out of the physical metals at some point, but to jump in & out on a hair-trigger basis - now, that's nuts.

    When you do that, you're not just playing with pros, you're playing with cheats and manipulators. So, you need to be better at knowing what they are doing than they themselves know what they are doing. jmho
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • ttownttown Posts: 4,472 ✭✭✭


    << <i>

    << <i>Breakdown Of The Gold Market >>



    Its stories like this that keep physical holders in the game. All the time thinking its only paper holders who will suffer loss. Sad. >>




    The real sad part is the 99.9 percent of the people in the US think the status quo is working great and the FED and Wall street aren't racketeering. Everyone outside of the US understands this as well as governments. I'd say if printing our way out of this mess works then maybe we all should start using color copiers to stimulate the economy. Very sad that some think the US is an island and only other countries fiat currencies are in trouble. The paper ETF's are now the 6th biggest holder of gold although it's paper while there's no way you can buy physical gold at those prices and it's only getting worse the more the paper markets go down. Put your money down and take your chances not that you should be "all in" with PM's but you day traders days coming IMO.

    All fiat currency will fail and it's been proven though the ages, it's just a matter of time. The data on my side on this one, this is our third try at fiat money.
  • cohodkcohodk Posts: 19,109 ✭✭✭✭✭
    Im just saying that those types of articles can lead one to believe that if "paper" spot prices decline then physical will not. That is a very dangerous assertion, IMO.

    A long and protracted decline in paper will most likely have a negative effect on gold.

    I am not advocating trading PMs, just hoping people to ask themselves, "what if?"

    I know many people would be content to hold gold for 2-3 years and suffer a 30% loss in value. However, many people would not be happy. We need to ask ourselves which camp we are in.




    All fiat currency will fail and it's been proven though the ages, it's just a matter of time. The data on my side on this one, this is our third try at fiat money.

    I believe you will be proven correct. Unfortunately, I believe niether you nor I will witness it.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Rising or falling PM prices always make a genius out of someone image

    For me personally, I'll just say I'm pretty skeptical about any dollar rally. I wish I had more money to buy silver at this price level.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭


    << <i>I was getting ready to sell 20K worth of melts mainly silver, image
    Looks like everytime I wanna make a big move the Markets works against meimage
    Maybe I'll hold out on selling and loose even more
    Silver down .97 OUCH OUCH OUCH >>



    ...here's what u do...everytime the metals go up to a level where you want to brag to a friend about owning some, that's when you sell. When PM's go down and that same friend approaches u and says "I'm glad I didn't buy any silver, it tanked," that's when u buy. It's almost foolproof. image
  • Kd5ddoKd5ddo Posts: 208 ✭


    << <i>

    << <i>...everytime the metals go up to a level where you want to brag to a friend about owning some, that's when you sell. When PM's go down and that same friend approaches u and says "I'm glad I didn't buy any silver, it tanked," that's when u buy. It's almost foolproof. image >>



    Aint that the truth...
    Remember that the market can stay irrational longer than you can stay solvent.

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  • Norseman88Norseman88 Posts: 962
    I liquidated all of my Palladium this past week, averaged between $430and 435 an oz. My profit was nearly $210 an oz. and some things I'd read lately about the dollar led me to believe the stock market and commodities were ready to sell off. Now it looks like I should've sold some Silver above $18 cause now Silver looks headed towards $14 hopefully not lower but if it does there are some mining stocks I will be buying.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    << <i>Rising or falling PM prices always make a genius out of someone image

    For me personally, I'll just say I'm pretty skeptical about any dollar rally. I wish I had more money to buy silver at this price level. >>




    definately! With the debts now and impending debts coming in the next few years, we shall see that the dollar isn't gonna be as strong as they think it is.
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  • yellowkidyellowkid Posts: 5,486 ✭


    << <i>It better move up as I am having to sell for a move......any drop affects my moving funds!!!!! >>




    You put money you need for living expenses in PM's?image
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>Im just saying that those types of articles can lead one to believe that if "paper" spot prices decline then physical will not. That is a very dangerous assertion, IMO.

    A long and protracted decline in paper will most likely have a negative effect on gold.

    I am not advocating trading PMs, just hoping people to ask themselves, "what if?"

    I know many people would be content to hold gold for 2-3 years and suffer a 30% loss in value. However, many people would not be happy. We need to ask ourselves which camp we are in.




    All fiat currency will fail and it's been proven though the ages, it's just a matter of time. The data on my side on this one, this is our third try at fiat money.

    I believe you will be proven correct. Unfortunately, I believe niether you nor I will witness it. >>






    2 to 3 years? I am on the 20 - 30 year plan. If you keep jumping in and out of anything you will never get anywhere.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
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