Why are precious metals down-
pitboss
Posts: 8,643 ✭✭✭
so much with such turmoil in the world?
0
pitboss
Posts: 8,643 ✭✭✭
Comments
If anyone was thinking of adding to their stack ...... DO IT.
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Silver is the mortar that binds the bricks of loyalty.
No?
Maybe the JP Morgue and the Goldman Sack have decided they will only do Gods work from now on?
No?
???
World Collection
British Collection
German States Collection
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
roadrunner
Box of 20
<< <i>Read the existing threads. >>
Thanks.
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
<< <i>Just sold some PMs this morning. Hope Silver tumbles to $32 so I can buy the 25th ASE Anniversary Sets cheaper. >>
funny, I was going to ask if anyone is going in at this $41 and change level.
I think Greece would need to get their next round of bailout before silver takes a seriopus tumble down to $32. Otherwise $38-ish might be a good short-term entry point.
Is everyone (else) here getting 5 sets?(5 = household limit)
Box of 20
but but, but I was told earlier (not by you) that Gold is protection from the Dollar being devalued. Now just which is it here, because it cant be both ways.
<< <i>As the world currencies get scarier the world runs to the safety of the dollar. The dollar goes up in strength ....gold goes down
but but, but I was told earlier (not by you) that Gold is protection from the Dollar being devalued. Now just which is it here, because it cant be both ways.
When the dollar shows any sign of strength, it distracts investors from gold. Momentary strength in the dollar is no indication of economic improvement. Let the last few years of performance for both be your guide.
"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
US Dollar Chart
In God We Trust.... all others pay in Gold and Silver!
<< <i>All that turmoil was already factored into Monday's gold price. When there wasn't more news on Tuesday, the price fell back. This is also known as normal market action. >>
But not before the big players sucked in new buyers at much higher prices for gold, silver and the miners first thing this morning. Then slowly pulled the plug a few hours later.
Regular market action to draw them in, then spit them out. Lather, rinse, repeat.
roadrunner
Allow me.
Gold is protection from the Dollar being devalued.
Not from market volatility caused by the devaluations of fiat currencies worldwide.
Again, the analogy fits - you can pick your deck chair; or you can go for a lifeboat.
There is a difference.
I knew it would happen.
Then I respectfully ask why does it work like clockwork and nearly everytime? Why do investors go for the head fake everytime then?
I will listen to what you have to say, but I'm of the opinion that it's because ultimately people (nations, agencies, countries, etc.) want a strong Dollar and Gold to be not so strong because they know if Gold continues to increase in value, it's that much harder times ahead. I may have just proven your point by saying that, but I still feel that people would rather have a strong Dollar and Gold to be in a more "controlled" range. all jmho of course and the way I see it.
<< <i>
<< <i>All that turmoil was already factored into Monday's gold price. When there wasn't more news on Tuesday, the price fell back. This is also known as normal market action. >>
But not before the big players sucked in new buyers at much higher prices for gold, silver and the miners first thing this morning. Then slowly pulled the plug a few hours later.
Regular market action to draw them in, then spit them out. Lather, rinse, repeat.
roadrunner >>
You got it backwards. The small fish bid the price up on the open. The big fish didn't do anything to "suck them in." The guppies went into the nets smiling, absolutely sure gold would go up big again. Small fish tend to trade on emotion, greed and fear. Analysis, news, charts are mostly ignored, and it is why they tend to lose over and over and over (lather, rinse, repeat). That kind of trade isn't manipulation by big players, it is normal market action. There are a very few that have a gut that leads them to profits, and they can make huge money, but that group is less than 1% of the emotion led group.
Sounds like my 2008 silver purchase at $21.00, just before the 55% drop.
people (nations, agencies, countries, etc.) want a strong Dollar and Gold to be not so strong because they know if Gold continues to increase in value, it's that much harder times ahead.
"people" is not the same as nations in this context. Right now, most nations are debasing their currencies in order to stimulate trade. It's not working very well, and it's looking similar to the 1930's in that regard.
Real "people" absolutely do want a strong and stable currency, because that's what savings, and investment, and price levels are based on. When the currency is stable, people and companies can plan much better and that usually means a better overall use of resources including labor and capital.
Politicians vs. the "people". Politicians should stop when they're ahead. We'd all be better off.
I knew it would happen.
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......
<< <i>Oppps, I moved all my PM's to the bottom shelf last night to make room for my new 45 >>
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Never store your coins and your ammo in the same safe.
In the event of a fire the ammo will blow up and ruin all your coins
GrandAm
Hate making lite of our BAD situation but BO is only good at BS'ing going on 3 years now
Well, he's only got 5 more to go to catch up to W. Would you rather him bs you as you call it, or tell it like it really is and bring the moral of the Nation down even more?
I prefer the latter because I can take it, but I strongly feel that he's doing the Nation a favor by being what he is, a politician, and at least trying to make the effort, even if it is smoke out his arse.
Does that make any sense? It does to me, but I admittedly always have a slanted view of things.
<< <i>The swiss intervened and that's the most of it...........cascaded from there.. MJ >>
Somebody find Heidi and stop her!!!!!!!!!!!!
"Asian trading saw gold fall 2.3% or nearly $50 in minutes ($1,871/oz at 0514 GMT to a low of $1,827/oz at 0523 GMT). The price fall was odd as there was no breaking news or ostensible reasons for the sell off and other markets were unchanged at the time. Speculation was that the falls were technical in nature after stop losses were triggered. However, Asian traders spoke of some 4,000 lots of gold being ‘dumped’ on the COMEX and of a “large sell order”. This would suggest that the sellers may not have been profit motivated and official selling may have been involved."
"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
When "somebody" dumps 4000 lots of gold on the Comex, don't they eventually proceed to buy it back at some point? And when they do, don't they just have to print money in order to finance it?
I knew it would happen.
"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 don't totally disagree but, I find this somewhat counter intuitive.
The Swiss Franc and Gold were considered the last bastions of Safe haven.
If the Franc is no longer the safe haven it once was, it should be bullish for Gold.
<< <i>f the Franc is no longer the safe haven it once was, it should be bullish for Gold. >>
The only thing currently not bullish for gold is engineered smackdowns and even they are temporary. Stackers should welcome them as buying opportunities as their effect is short lived and gold continues upward. Anyone in doubt need only memorize this:
"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
Yes, it should be bullish for gold. And it is.
I knew it would happen.
<< <i>
<< <i>f the Franc is no longer the safe haven it once was, it should be bullish for Gold. >>
The only thing currently not bullish for gold is engineered smackdowns and even they are temporary. Stackers should welcome them as buying opportunities as their effect is short lived and gold continues upward. Anyone in doubt need only memorize this:
Quite a bit of enthusiasm in that chart. Looks to be borrowing a lot of potential from the future.
Knowledge is the enemy of fear
This is great information and thanks to all of you for your analysis.
<< <i>Quite a bit of enthusiasm in that chart. Looks to be borrowing a lot of potential from the future. >>
Charts don't borrow from the future, they document the past.
"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
<<<< "Texas Rep. Ron Paul is calling Texas Gov. Rick Perry "Al Gore's Texas cheerleader" for once working to help elect the Democrat. ">>>>
Ricko, where do you think silver will finish?