Who's buying gold at these prices !!!
edmundfitzgerald
Posts: 4,306 ✭✭
Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
What's wrong with these people
Must be nuts
What's wrong with these people
Must be nuts
0
Comments
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>I know I have a BIG bag full of M.S. Quality walking libertys I will be selling soon! >>
If they're halves and not Silver Eagles, mint state Walking Liberty halves are worth quite a bit more than melt.
My Adolph A. Weinman signature
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'm sure the Chinese for example , are not pleased with the QE announcement.
I knew it would happen.
–John Adams, 1826
I have a BIG bag full of M.S. Quality walking libertys I will be selling soon!
I wouldn't be surprised if they gained zero value since silver has moved up from $18 to $25. Premium bullion related items should continue to lose value as bullion rises. Though at the point that the premium is entirely gone, then the item will finally benefit from further price increases.
roadrunner
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
What's wrong with these people
Must be nuts >>
You gotta be foolish to make that statement.
It CAN and WILL go much higher. You have no idea what you are up against here.
Slow and steady...........................Damn, that's the same thing the wife told me last night.
Herb
–John Adams, 1826
<< <i>Miners have been lagging the metals for several years. They are starting to catch up but are still historically cheap. I'm continuing to add them.
<< <i>Sold about a hundred ounces retail in the past hour....... >>
Are you in Balitmore this week?
I will store the new commodities in my backyard, rather than my bank box.
Liberty: Parent of Science & Industry
<< <i>I have halted all PM buying, completely stopped til I see at least a 10-15% retracement. I'll only be selling from the stash at this point being that the cost avg. of that is significantly lower of what I can flip it for now. >>
You probably saw the NEW LOW today! better buy now!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
I've added 250 ounces of silver in the last two weeks. Fortunately silver was $24 or below during most of that period.
https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
Other than that, picked up some One Ounce Wolfs at the local show at $26. Love the design!
So yes, always buying. Can't stop. Must have oxygen. Pfffft.
Miles
<< <i>I still wanna know what a generic 1 oz gold round looks like
And where are all the bags of 90% junk gold?
<< Premium bullion related items should continue to lose value as bullion rises. Though at the point that the premium is entirely gone, then the item will finally benefit from further price increases. >>
When gold reaches $50 million per ounce, it will be time for the ceremonial melting of the 1933 double eagles.
My Adolph A. Weinman signature
I continue to trade GLD, SLV, AUY, PZG, PAL in my retirement accounts.
<< <i>
<< <i>Sold about a hundred ounces retail in the past hour....... >>
Are you in Balitmore this week? >>
We have people there, but I am talking about at our store in beautiful downtown Chicago.
TD
<< <i>You ever hear of a crowded trade? Do you know what happens in crowded trades? >>
So what are you saying? Be specific please....
1) Which trade is crowded?
2) When time wise will this crowded trade become too crowded and bust? I want a time frame. In other words when should we be headed for the doors?
3) Why is this trade crowded? What are your indicators?
Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
Gold may be at an all time high but buying metals based off the GSR is a good strategy as well
I'm left with one of two conclusions: either this panic will pass quickly, and prices will settle down, or we have just had the first taste off Bernanke's Inflationary Buffett, and markets will only get wilder. God have mercy on us!
I don't really watch the news, because the markets' daily charts digest all the information and report much more accurately than any coiffed and blow-dried anchor that ever nasalized a sentence. today the charts say we are in deep trouble and a panic is developing. An international panic, perhaps, out of the US dollar.
But greater evidence of panic erupted in stocks, silver, and gold as investors frantically scrambled to shuck US dollars for something, anything, of value.
Bear in mind that these are NOT usual markets, but an alien new world in which the currency rivets are popping out. I don't know what might happen, and neither does anybody else. There's no chart for these waters. Y'all had better become tough-minded and philosophical overnight.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
A one percent move in gold is now $14. Sounds like a lot, but it really isn't. $15 swings will be the new norm and there will be more days of $50 moves. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
We may love the action now but we may just be experiencing the demise of the almighty dollar.
Remember...what good is 30 dollar silver or 1650 gold if food costs twice as much
There's some food for thought
<< <i>and let's see what today's lack of jobs number brings.............If you're a long term/ long time holder of gold/silver try to ignore the noise. Sell smoe whenever your sleeping weight is keeps you up at night. The ride is more enjoyable that way.
A one percent move in gold is now $14. Sounds like a lot, but it really isn't. $15 swings will be the new norm and there will be more days of $50 moves. MJ >>
Excellent point.
TD
to add: I did buy the 1/4 and 1/10 AGE proofs, that's probably it for me for a bit as it's holiday and crazy womens b-day times for me (wife, mom, MIL, grandma all in Nov).
By the looks of the daily increase in silver and platinum and palladium it feels like panic buying too.
Do not be surprised if there is a 10-15% pull back once they have all covered their shorts, but there is possibly a 15-20% run up before that happens.
<< <i>The shorts are buying at these levels.
By the looks of the daily increase in silver and platinum and palladium it feels like panic buying too.
Do not be surprised if there is a 10-15% pull back once they have all covered their shorts, but there is possibly a 15-20% run up before that happens. >>
Shorts in full panic - Buy out imminent
lol...on technical tops and crap....there is CLEAR insider action that is a massive indication of a big sale.
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on.
As much as i like prices to go up but the truth is that it is not precious metals that are going up, its the dollar that is getting massively devalued
We may love the action now but we may just be experiencing the demise of the almighty dollar
BINGO!!!
People are be blinded by the fact that their PM is worth more, but I wonder do they realize that everything they buy with this kind of economic fundamentals, is going to cost them more because their $ is soon to be worth sh*t. So you go cash in your PM's and get the cash...and you find that it isnt worth as much and you cant buy as much as you could've in the past. To me, it's a double edged sword. Sure im happy my PM is worth more, but when I go to cash it in im not getting as much out of it becuase I pay for stuff with Dollars, unfortunately.
Then you have people say, Im not cashing in, im going to hold to $x. Guess what, at that point you're $ is worth even less. Until we can buy things like cars, houses, furnaces, appliances or pay a contractor to do work on our home or car with PM, and not with paper money, you're LOSING ground.
With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on.
Now, let me get this straight, you are saying that gold mining stocks are a crowded trade, right? Instead of ETFs causing them to drag, you are saying that they are lagging because they are a crowded trade, right? As I interpret it, MJ was simply asking why you thought so. (BTW, Peter Schiff was just on today talking about how the miners have gone ballistic.)
I have to agree with you on most of your declining dollar observations, but I don't see a pm position as losing ground. When the dollar drops a point, from 0.77 to 0.76 for instance, how much do the pms move? I'm thinking that the metals are moving much faster than the dollar because of the relative size differentials of these two markets. It doesn't take nearly as much capital flow to move the metals as it does to move the dollar, correct?
I knew it would happen.
<< <i>
BINGO!!!
People are be blinded by the fact that their PM is worth more, but I wonder do they realize that everything they buy with this kind of economic fundamentals, is going to cost them more because their $ is soon to be worth sh*t. So you go cash in your PM's and get the cash...and you find that it isnt worth as much and you cant buy as much as you could've in the past. To me, it's a double edged sword. Sure im happy my PM is worth more, but when I go to cash it in im not getting as much out of it becuase I pay for stuff with Dollars, unfortunately.
Then you have people say, Im not cashing in, im going to hold to $x. Guess what, at that point you're $ is worth even less. Until we can buy things like cars, houses, furnaces, appliances or pay a contractor to do work on our home or car with PM, and not with paper money, you're LOSING ground. >>
Couldnt have said it better...one too many times you hear people say well ill sell at this or that amount. Thats all great but your $ will be worth less. The only advantage that i see to selling would be to pay off any debt you may have. Pay debt with inflated dollars. Dont get me wrong, I have sold recently BUT not to acquire FRNs but rather to sell as a means to trade for another metal. I have worked it out so that the minute i sell silver to the dealer i lock in my price for whatever gold im getting that way im not exposed to the changes. Yes i trade for FRNs for a brief period but im not going to let myself become exposed to more devaluation
I am a service member living in Germany and i can tell you from first hand experience that food at our commissary is very expensive now. So much that we will now be buying our groceries at the german supermarkets. We used to be able to buy a months worth of groceries for $300-350 now we're at about $400 or more. My wife just did shopping at the german supermarket and she bought a week's worth of groceries for about 50 euros (or about $75). All while our commander in chief spends $200 mill per day for a trip to Inida
<< <i>Probably no one. Gold is in a bubble. It can't go much higher. You've got to be foolish to buy it here.
What's wrong with these people
Must be nuts >>
Fred, Las Vegas, NV
and you're not getting as much as you use to either. Packaging is in smaller quantities than they used to be. So in effect, you're paying more, for less. It's one thing when something like this happens over an extended period of time, things catch up. But when it happens basically over the last 2 months and more $'s are being injected to the machine nearly simultaneously, it's inevitable that inflation will occur...and lets not fool ourself. Thats what the Govt. wants to happen.
With a reply comment like that, it sounds like you have your mind made up, and it isnt worth my time to try and convince you of anything because you have blinders on>
So you can't or won't any my questions I asked you below. The rest of my quote below. No worries. FYI- I've been short pm's in the past and I hedge so save your rheotric for smoeone else. .........MJ
So what are you saying? Be specific please....
1) Which trade is crowded?
2) When time wise will this crowded trade become too crowded and bust? I want a time frame. In other words when should we be headed for the doors?
3) Why is this trade crowded? What are your indicators?
Statements like you made above are meaningless and just noise without some meat behind them IMO. I could turn on CNBC most times of the day and hear the same........MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......