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PMs tanking

TheCoinGeezerTheCoinGeezer Posts: 408
in Precious Metals
I'm surprised at the sharp drop in gold today given the bad economic news from Europe.
Market correction or market trend? Inquiring minds want to know!

Comments

  • WingsruleWingsrule Posts: 3,010 ✭✭✭✭
    Bad news in Europe equals good news for the USD? Up about 1% this morning.
  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭
    Has the 'big trend' changed at all??

    NO.

    Bailouts and money printing are still the mode of government/Fed operations.

    Keep stacking PM's, that's all I have to say.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • mixmanmixman Posts: 111
    Actually kind of happy to see a pull back, means I can afford to buy more! Still, haven't seen moves like this in awhile. Silver down 7% and the markets aren't even open yet. It's days like these where I would dread being a bullion dealer.

    The Base metals are also getting slaughtered. Copper down over 7%, Nickel almost 6%! Just not a good day to be a commodity trader i guess.
  • cohodkcohodk Posts: 19,102 ✭✭✭✭✭
    Just not a good day to be a commodity trader i guess


    Its a good day for me.image


    You see, the above quote is the very mindset that I mentioned in another thread. People have no concept that prices can go down and hence have no idea on how to profit from falling prices. This is exactly why people fear deflation. Dont fear it, embrace it. Everybody likes a sale, no?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • mixmanmixman Posts: 111


    << <i>


    Its a good day for me.image


    You see, the above quote is the very mindset that I mentioned in another thread. People have no concept that prices can go down and hence have no idea on how to profit from falling prices. This is exactly why people fear deflation. Dont fear it, embrace it. Everybody likes a sale, no? >>



    Just caught up with the other thread, and I would certainly say so! I should have thrown a "long" before that commodity trader bit image

    Still, there are probably going to be plenty of opportunities for a photographer to get a "sad trader" picture in the commodity pits today.
  • Coinerww2Coinerww2 Posts: 356
    How do coin with numismatic value change with these bullion prices? At a day to day scale, bullion and stocks seem to be inversely related (except today).
  • FistFullOfDollarsFistFullOfDollars Posts: 359 ✭✭✭
    Tomorrow is my weekly buy in day, it is the only day I can get by the local B&M.

    Funny how most of the times recently Friday has been an up day for PM's.




    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    Everything's tanking....
  • goingbrokegoingbroke Posts: 1,410
    I bet everyone is glad they sold last week and now can buy it back at this GREATLY reduced price!.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • CoupdescroungeCoupdescrounge Posts: 173 ✭✭
    A sale or longer deflation can make some winners out of those who were losing and vice versa.

    But while commodities, goods and services of all sorts become cheaper to buy, I would like to make the point that the flesh the government wants will not decrease.


    I'm talking about the school portion of the property tax increase I received this year. I'm talking about the increase in sales tax, the increase in licensing fees. New permitting fees and all sorts of hidden little taxes in our society. When you add it all up, it's really quite burdensome to the average person with a modest savings.

    These things will take years to "deflate" if at all.

    When each person, even the cash holders who might benefit from a deflation on the one hand, will in the long run get gobbled up by inflating cost of living imo.
  • KonaheadKonahead Posts: 1,476 ✭✭✭
    If you bought last month and plan to sell in a few weeks I guess you would panic and see "tanking". If you bought at $400 and have to sell horizion you see a great opportunity to add to your stack. Depends on your point of view!
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • EggerEgger Posts: 421 ✭✭
    Trump just lost some rent $$$$$
    EBay ID = Disc2tech
  • moonshinemoonshine Posts: 1,039 ✭✭
    well renman, I was going to say you are right ... but let's just hope it doesn't get too much worse.

    btw -- US Coin Forum post -- says we are no fun over here.

    image
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image








    image
    Avid collector of GSA's.
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Just looked at apmex, things are out of stock or not adjusted down on pretty much everything I looked at silverwise. Expected as much.
  • pmcollectourpmcollectour Posts: 1,211 ✭
    If you've been a PM buyer over the long haul, then PM's are not tanking. They're just taking another breather.
  • johnny9434johnny9434 Posts: 28,307 ✭✭✭✭✭
    picked up some extra silver today image hope it works out
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Just looked at apmex, things are out of stock or not adjusted down on pretty much everything I looked at silverwise. Expected as much. >>



    Really? Don't know what you're looking for, but everything from ASE's to Silver Rounds are still available...at about $4 less from what they were asking yesterday.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • BochimanBochiman Posts: 25,377 ✭✭✭✭✭
    I'm just waiting for more threads that start out:

    "Went to my local B&M but was told they didn't have any to sell. I KNOW they have some silver/gold because I can see it behind the counter. I want to buy it at spot (spot -%), but they keep telling me that they don't have any to sell. I am SO MAD at them!"

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • ksammutksammut Posts: 1,074 ✭✭✭


    << <i>Tomorrow is my weekly buy in day, it is the only day I can get by the local B&M.

    Funny how most of the times recently Friday has been an up day for PM's. >>



    Same here and I have noticed that too.
    American Numismatic Association Governor 2023 to 2025 - My posts reflect my own thoughts and are not those of the ANA.My Numismatics with Kenny Twitter Page

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  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭


    << <i>

    << <i>Just looked at apmex, things are out of stock or not adjusted down on pretty much everything I looked at silverwise. Expected as much. >>



    Really? Don't know what you're looking for, but everything from ASE's to Silver Rounds are still available...at about $4 less from what they were asking yesterday. >>



    Yeah I saw things after I posted this and clicked around some more. I was looking at the foreign stuff. Too quick with the post clicky.
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