Me too, only a little though, not enough to sting too much. Besides, we're all in this for the long haul, right? Plus, the last time Spot dipped to $18ish on Silver, all that meant was the premiums (or as I prefer to to refer it to as, the spread) increased. Price on physical wasn't really affected all that much.
When Silver went to $18 this last time, my old pour 5 oz Engs increased in value by at least 15% and have held that premium all the way back up to $23.50. Now that it's (Spot-paper) headed back down, seemingly so anyway, we'll see if that spread holds. So far, in my opinion, it has. Not to worry Timbuk3...it's yet another buying opportunity if it can be found.
edited: I know this thread is about Gold, but I don't do Gold, hardly. So I'm just speaking in terms of how it relates to me. My apologies, not trying to derail the thread.
To forgive is to free a prisoner, and to discover that prisoner was you.
todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime.
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
Okay by me. I like blood baths. >>
Bloodbath = Buying opportunity
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
For those long term stackers I agree, future looks to hold some good buying opportunities.
I personally hate PM's, never have liked em, but I do better when the prices are up. Brings people in with gold.
It had been trending down earlier this year, and the sellers were getting far and fewer between, then this up tick we had that started about a month ago or so, helped fuel a little more scrap business.
Nothing like 2011 , people would come in to sell a ring or necklace for the extra cash, price we quoted would be so strong , they would literally start pulling off jewelry from themselves and sell it also.
Floating or sinking in water is similar to delving in PMs.... Trading exists at every level, every day, in the metal market. So long as trading exists, it's sink or swim. Get in or get out, but.... jumping up and down or graduating up and dropping off to the floor, to me is neither a RALLY or a SELL OFF and we don't see people RUNNING to the refinery or to the "WE BUY GOLD" places in droves , as they once did. The world got a bit smarter, using technology as our friend. So much information is instantly available now. That wasn't like this years ago. People are watching the clock, not the gold, in hand. Either stored, or refined... It's wealth of gold. But the market ? Another story. In the market: it is the sound of paper shuffling.... which basically affects the future buyers and sellers and hardly affects what's "actually" happening. (controlled environment)
Who's buying today ? It's really easy to buy and really easy to sell. Just don't EXPECT the premium to disappear on the drop. They actually increase. And hope they don't SPIKE because the consumer always pays. Thin margins are there to make sure I have enough to eat... and just enough to keep from drowning. What it was it was , what it is, it is. That was all you made me think of.
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
BAJJERFAN
Posts: 31,056 ✭✭✭✭✭
Comments
I knew it would happen.
Me too, only a little though, not enough to sting too much. Besides, we're all in this for the long haul, right? Plus, the last time Spot dipped to $18ish on Silver, all that meant was the premiums (or as I prefer to to refer it to as, the spread) increased. Price on physical wasn't really affected all that much.
When Silver went to $18 this last time, my old pour 5 oz Engs increased in value by at least 15% and have held that premium all the way back up to $23.50. Now that it's (Spot-paper) headed back down, seemingly so anyway, we'll see if that spread holds. So far, in my opinion, it has.
Not to worry Timbuk3...it's yet another buying opportunity if it can be found.
edited:
I know this thread is about Gold, but I don't do Gold, hardly. So I'm just speaking in terms of how it relates to me. My apologies, not trying to derail the thread.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime.
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
Okay by me. I like blood baths.
<< <i>a really short rally for gold. >>
Bear market rallies are always very quick and violent leaving most investors with whiplash.
Knowledge is the enemy of fear
<< <i>All it means is the spreads for physical will increase just like last time. Not a worry in the world about it doing so. >>
Until the volatility disappears. Which brings me to the Trading thread....
Knowledge is the enemy of fear
<< <i>
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
Okay by me. I like blood baths. >>
Bloodbath = Buying opportunity
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 personally hate PM's, never have liked em, but I do better when the prices are up. Brings people in with gold.
It had been trending down earlier this year, and the sellers were getting far and fewer between, then this up tick we had that started about a month ago or so, helped fuel a little more scrap business.
Nothing like 2011 , people would come in to sell a ring or necklace for the extra cash, price we quoted would be so strong , they would literally start pulling off jewelry from themselves and sell it also.
The world got a bit smarter, using technology as our friend. So much information is instantly available now. That wasn't like this years ago. People are watching the clock, not the gold, in hand. Either stored, or refined... It's wealth of gold. But the market ? Another story.
In the market: it is the sound of paper shuffling.... which basically affects the future buyers and sellers and hardly affects what's "actually" happening. (controlled environment)
Who's buying today ? It's really easy to buy and really easy to sell. Just don't EXPECT the premium to disappear on the drop. They actually increase. And hope they don't SPIKE because the consumer always pays. Thin margins are there to make sure I have enough to eat... and just enough to keep from drowning.
What it was it was , what it is, it is. That was all you made me think of.
HE>I
<< <i>
<< <i>
<< <i>todays fall back was a really bad sign IMO for the future of the gold bulls.
This rally that was sparked by the feds staying put fizzled out fast. There should have been follow thru buying hard, but no.
It may be a while yet (into next year or so) based on the economic data, but if and when the fed does draw back, you will see the biggest blood bath in PM's in our lifetime. >>
Okay by me. I like blood baths. >>
Bloodbath = Buying opportunity
that works