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Timing the sale of gold/silver....RESULTS BACK

AUandAGAUandAG Posts: 24,792 ✭✭✭✭✭
in Precious Metals
Sent a batch of gold scrap (is there really such a thing?) and silver to the melting pot.
Should arrive there on Monday.
Did I time it right???

Last two batches were busts as metals dropped like rocks while in shipment!

Keeping my fingers crossed that gold stays up there for a few more days!!

bobimage
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com

Comments

  • derrybderryb Posts: 37,010 ✭✭✭✭✭
    If any of us could time the market we wouldn't be spending time here.image

    Exit bunker, enter Matrix. LOL

  • WingsruleWingsrule Posts: 3,020 ✭✭✭✭
    derryb, I am sorry, but I must simply disagree with your statement above.

    We absolutely WOULD still be on here...but we would be logging in from Belize, or the Caymans, or...
  • derrybderryb Posts: 37,010 ✭✭✭✭✭


    << <i>derryb, I am sorry, but I must simply disagree with your statement above.

    We absolutely WOULD still be on here...but we would be logging in from Belize, or the Caymans, or... >>


    image
    I'm in Belize, and it is all that it is cracked up to be. image

    Exit bunker, enter Matrix. LOL

  • stevekstevek Posts: 29,241 ✭✭✭✭✭
    I have a feeling that buying/selling based on "strategic timing" or coin flips, the chances of success are basically identical. image
  • KonaheadKonahead Posts: 1,476 ✭✭✭
    unless you needed the money I would not be selling any PM's now. If you think the news is looking rosey and things are turning around sell. I most be watching a different channel.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • OPAOPA Posts: 17,126 ✭✭✭✭✭


    << <i>unless you needed the money I would not be selling any PM's now. If you think the news is looking rosey and things are turning around sell. I most be watching a different channel. >>



    It's not a question of needing money, but taking a profit. Die hard PM buffs will of course disagree with my strategy of FIFO with the usual reasons. But you need to ask yourself, has there ever been a "rosey" time in the last 20 years? If you bought & sold on a regular basis, utilizing a FIFO method, you've done very well.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • CaptHenwayCaptHenway Posts: 32,277 ✭✭✭✭✭
    You can go crazy second guessing yourself. If it is a good thing to do now, do it now. Obviously this is not your entire holdings, so don't lost sleep over it.
    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.
  • AmigoAmigo Posts: 966 ✭

    I'm more concerned about any of the Refinery's Honesty, than exact market timing. It's a mine field out there.

  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>

    << <i>unless you needed the money I would not be selling any PM's now. If you think the news is looking rosey and things are turning around sell. I most be watching a different channel. >>



    It's not a question of needing money, but taking a profit. Die hard PM buffs will of course disagree with my strategy of FIFO with the usual reasons. But you need to ask yourself, has there ever been a "rosey" time in the last 20 years? If you bought & sold on a regular basis, utilizing a FIFO method, you've done very well. >>



    agreed, there are points on both sides. I still feel this is going higher and why would I want to leave $$$ on the table.
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • nutmegnutmeg Posts: 345 ✭✭
    >>"It's not about needing the money but taking profits">>
    I don't let that trigger me to sell anymore. Twice I learned my lesson selling when prices were high. Or they seemed high at the time.
    First it was with silver bars I bought at $8 each. When silver hit $14 I dumped them. Next was Morgans and Peace dollars I bought at $15 each. I dumped them at $21.50 each at a yard sale. All this was just to take profits. Now here we are with silver at $35 or so.
    Where are my bars, Morgans and Peace dollars?
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>You can go crazy second guessing yourself. If it is a good thing to do now, do it now. Obviously this is not your entire holdings, so don't lost sleep over it. >>



    image

    then if in Belize or Caymans one would not even first guessimage
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Sometimes one gets lucky... most of the time, one does OK... sometimes one takes a beating.... no crystal ball works. Cheers, RickO
  • yellowkidyellowkid Posts: 5,486 ✭


    << <i>I have a feeling that buying/selling based on "strategic timing" or coin flips, the chances of success are basically identical. image >>

    image

    The only PM selling I have done is to purchase numismatic pieces. IMHO, trying to time any market is a losing proposition.
  • AUandAGAUandAG Posts: 24,792 ✭✭✭✭✭
    Turns out that timing was good. Sold at $1,774. Silver at $33.90. Hate to time, but had a
    feeling that the dollar was just getting too strong with the US economic news being pretty
    positive and forecasts upbeat.

    Happy.

    bobimage
    Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
  • philographerphilographer Posts: 1,316 ✭✭✭✭✭
    Congratulations. Glad it worked out this time!

    --Edward

    He who knows he has enough is rich.

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