Home Precious Metals

I keep selling, Spot keeps going up

You all are welcome lol image
I've sold (flipped is the more appropriate word) more oz's in the last month than the first 7 months combined! Anyone else experiencing this?
To forgive is to free a prisoner, and to discover that prisoner was you.

Comments

  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    don't stop now.image

    Natural forces of supply and demand are the best regulators on earth.

  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    Ditto !!! image
    Timbuk3
  • PokermandudePokermandude Posts: 2,713 ✭✭✭
    A slight bump up in the last couple weeks or so. It was pretty dead around here most of the summer, no one really buying or selling much bullion.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • I've bought more in the past month than I have in probably the last couple years.....and Thanks btw! image
    "In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    No selling here.... late this year will see spot rise considerably.... Cheers, RickO
  • PerryHallPerryHall Posts: 46,154 ✭✭✭✭✭


    << <i>No selling here.... late this year will see spot rise considerably.... Cheers, RickO >>



    Do you have a specific reason or is it just a gut feeling?

    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

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Do you have a specific reason or is it just a gut feeling?

    Purely a gut feeling that the slightest tweek of QE will cause a sharp fall in pm's paper value. BB has already hinted it's coming as to not surprise us too much when it actually does get adjusted.
    So is some of that already built into the value of paper pm's? and why would JPM say they are done shorting and actually buying now? You're right! To confuse the hell out of you even more, because"if you're not confused, you're not paying attention."
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • jdimmickjdimmick Posts: 9,678 ✭✭✭✭✭
    I though for sure it was going to head further down, but It may be delayed a bit. Might even get a good run out of this one, demand seems to be strong right now!
  • DoubleEagle59DoubleEagle59 Posts: 8,318 ✭✭✭✭✭
    Do you really think that QE will ever end?

    It will end eventually....very badly.
    "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)
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I didn't say end on QE, I said tweek. That's all it would take...for the Fed to actually make a change would send it spiraling to test recent lows at a minimum, which I would argue could actually be a good thing if it happened.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • derrybderryb Posts: 36,837 ✭✭✭✭✭


    << <i>Do you really think that QE will ever end?

    It will end eventually....very badly. >>


    We'll see a temporary reduction in QE for political purposes, but it won't stick.

    Natural forces of supply and demand are the best regulators on earth.

  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    will silver hit $22 tonight?

    Natural forces of supply and demand are the best regulators on earth.

  • bretts911bretts911 Posts: 764 ✭✭✭


    << <i>will silver hit $22 tonight? >>


    It already did
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Anyone care to venture a guess, why spot silver is having a run? I'm confused as rawteam1 would accuse me of image
    I know JPM stopped shorting and is actually buying physical, but that alone can't be why we're having a run.
    My take is what I've been told can't be right by some here. Physical is being sold the hell out of now, so there's a demand for it, which dealers will test just how far they can go with it and as long as it's moving out the door, they'll take it up another notch...but what the hell do I know, I'm confused?
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    the shorts are freaking out and dumping. Doesn't mean it will continue. I personally expect one more decline before the next MAJOR leg up.

    Natural forces of supply and demand are the best regulators on earth.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Lol, POM, the eternal question...
    Answered in the simplest of terms, everytime...
    more buyers, than sellers ...
    keceph `anah
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Good answers guys, and I agree there will be at least one more significant leg down before another run even close to $30.

    Now to me $30 is a whole other ballgame as I've mentioned before (maybe not on this thread). I think there are a TON of people trapped in the $30 range, and after being bagholders for already quite awhile now, I feel that's the magic number a high percentage of them would dump what they have just to get even.

    No, I am not personnaly speaking. Fortunately I am still cost avgd. below that (not counting my collectible bars of course) with my "non-colltible stuff. I'm just saying that's the feeling I get after having many conversations about it with people in the hobby. I have nothing to base it on other than that.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>Lol, POM, the eternal question...
    Answered in the simplest of terms, everytime...
    more buyers, than sellers ... >>



    What, no conspiracy theory with your answer? What's this forum coming to. image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,296 ✭✭✭✭✭
    I keep buying and selling and spot makes no ________ difference.
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭
    I'm holding until it hits $30.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • topstuftopstuf Posts: 14,803 ✭✭✭✭✭
    NOTHING the US is doing makes any ....fundamental.... sense.

    I'll take gold for $3,000, Alex.
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>Good answers guys, and I agree there will be at least one more significant leg down before another run even close to $30.

    Now to me $30 is a whole other ballgame as I've mentioned before (maybe not on this thread). I think there are a TON of people trapped in the $30 range, and after being bagholders for already quite awhile now, I feel that's the magic number a high percentage of them would dump what they have just to get even.

    No, I am not personnaly speaking. Fortunately I am still cost avgd. below that (not counting my collectible bars of course) with my "non-colltible stuff. I'm just saying that's the feeling I get after having many conversations about it with people in the hobby. I have nothing to base it on other than that. >>




    I'm with piecesofme(tal) on this one, I don't know what the average is, but I feel there are a lot of people upside down in their metals due to the last run. I see Silver creeping its way back up until we hit this average and the masses dump. We will see one more down turn then.... Well, who knows.

    Re-stating what everyone already knows. If/When QE changes we will see some PM movement, If/When QE stops... Oh boy, are we going to see PMs move.

    Only time can tell what we (The common people) will see.

    My question is, how does one prepare for the unknown?

    My take is, pay off your bills, build a sound retirement portfolio, make a PMs plan... and stick to it. Long and steady for investments. That said, I am not a flipper... Yet.
  • derrybderryb Posts: 36,837 ✭✭✭✭✭


    << <i>I'm with piecesofme(tal) on this one, I don't know what the average is, but I feel there are a lot of people upside down in their metals due to the last run. I see Silver creeping its way back up until we hit this average and the masses dump. We will see one more down turn then.... Well, who knows.

    Re-stating what everyone already knows. If/When QE changes we will see some PM movement, If/When QE stops... Oh boy, are we going to see PMs move.

    Only time can tell what we (The common people) will see.

    My question is, how does one prepare for the unknown?

    My take is, pay off your bills, build a sound retirement portfolio, make a PMs plan... and stick to it. Long and steady for investments. That said, I am not a flipper... Yet. >>


    Those that bought at higher prices are upside down. They have an opportunity to get in at the current ground floor and dollar average their cost down. Or they can sit tight. Or they can sell and cut their loses. It's a choice they should make on what their research shows them and that research should extend far beyond the opinions on a pro-PM forum. Unless spot prices are moving up rapidly (and they usually don't) physical PMs should not be viewed as a flip opportunity, but rather a longer term insurance policy to protect from those things that make PMs grow in value. Flippers should stick to collector products such as graded metal coins, art bars and PM paper products. Low spread on physical metal tends to only be rewarding when prices rapidly escalate. Collector products tend to carry more profitable spreads based on limited supply and higher demand. This philosophy has worked well for me over the years even in the current down leg.

    Natural forces of supply and demand are the best regulators on earth.

  • Wolf359Wolf359 Posts: 7,657 ✭✭✭


    << <i>Do you really think that QE will ever end?

    It will end eventually....very badly. >>



    Hyperinflation or system wide bank collapse first like 2008....place your bets.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I'm offering up some more stuff on the BST (shameless plug)...so you know what that means right? $25 silver is right around the corner image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • VanHalenVanHalen Posts: 3,994 ✭✭✭✭✭


    << <i>I'm offering up some more stuff on the BST (shameless plug)...so you know what that means right? $25 silver is right around the corner image >>



    $25? Not this week, we'll be waiting until Labor Day for that one. image
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I dont know VanHalen. What I listed didn't last 10 minutes, and I feel I got pretty good prices. Something significant that we may have to sort out in the coming days is driving this, and all we can do is react at this point because most of us don't know what it is.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • chumleychumley Posts: 2,305 ✭✭✭✭
    If I had to classify myself it would be as a collectable bullion guy,so my stash cost is all above melt. I did just sell some coins at a decent profit and since I am the chief financial officer for both my coin and bullion collecting,I get to lower my average bullion cost down a bit...it is good to be the boss image
  • derrybderryb Posts: 36,837 ✭✭✭✭✭


    << <i>...it is good to be the boss image >>


    amen brother

    Natural forces of supply and demand are the best regulators on earth.

  • tneigtneig Posts: 1,505 ✭✭✭
    I'll be studying this advice. Thank you. I am still low on the experience and research knowledge skills. Right now, with learning here and elsewhere is generally we don't know what the market will do for sure overall. Some seems to be able to understand "support for + or -" but not me yet. I'll keep an eye out for better quality collectables going carefully so as not to be the last one on the price curve for that item... Ah, but ETFs, ohh those etfs...

    PS. I like your advice POM and your outlook as well.



    << <i>Those that bought at higher prices are upside down. They have an opportunity to get in at the current ground floor and dollar average their cost down. Or they can sit tight. Or they can sell and cut their loses. It's a choice they should make on what their research shows them and that research should extend far beyond the opinions on a pro-PM forum. Unless spot prices are moving up rapidly (and they usually don't) physical PMs should not be viewed as a flip opportunity, but rather a longer term insurance policy to protect from those things that make PMs grow in value. Flippers should stick to collector products such as graded metal coins, art bars and PM paper products. Low spread on physical metal tends to only be rewarding when prices rapidly escalate. Collector products tend to carry more profitable spreads based on limited supply and higher demand. This philosophy has worked well for me over the years even in the current down leg. >>

    COA
Sign In or Register to comment.