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Has the bottom fallen out of gold?

MidLifeCrisisMidLifeCrisis Posts: 10,504 ✭✭✭✭✭
image

Is the sky falling?

Ruh-Roh!

MSN Article
«1

Comments

  • commoncents05commoncents05 Posts: 10,077 ✭✭✭
    A drop of 2% doesn't add up to the "bottom falling out".

    -Paul
    Many Quality coins for sale at http://www.CommonCentsRareCoins.com
  • crazyhounddogcrazyhounddog Posts: 13,776 ✭✭✭✭✭


    << <i>image

    Is the sky falling?

    Ruh-Roh!

    MSN Article >>



    It sure as hell is NOT going up!!!!!
    The bitterness of "Poor Quality" is remembered long after the sweetness of low price is forgotten.
  • johnny9434johnny9434 Posts: 27,412 ✭✭✭✭✭


    << <i>

    << <i>image

    Is the sky falling?

    Ruh-Roh!

    MSN Article >>



    It sure as hell is NOT going up!!!!! >>

    tis is not a good thing.
  • AMRCAMRC Posts: 4,266 ✭✭✭✭✭
    2% at these levels is significant. The sky may not be falling, but that is a clear drooping going on. :-)
    MLAeBayNumismatics: "The greatest hobby in the world!"
  • It's a good thing if you want to buy more. Whenever the market puts on a sale nobody wants to buy.
    Veni, Vidi, Vici
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    The big boys must be thinking about buying I would guess the market always seems to go down just before then. image
  • WaterSportWaterSport Posts: 6,696 ✭✭✭✭✭
    It must have gone south...I have not seen a gold thread on this forum in months!!!

    WS
    Proud recipient of the coveted PCGS Forum "You Suck" Award Thursday July 19, 2007 11:33 PM and December 30th, 2011 at 8:50 PM.
  • bestdaybestday Posts: 4,220 ✭✭✭✭


    << <i>A drop of 2% doesn't add up to the "bottom falling out".

    -Paul >>



    new low right around corner .. yikes under 1180.00
  • SAM5969SAM5969 Posts: 1,215 ✭✭✭


    << <i>A drop of 2% doesn't add up to the "bottom falling out". >>


    What about the 32% decline since October, 2011 ? Does that constitute the bottom falling out?
    imageimage
  • FullStrikeFullStrike Posts: 4,353 ✭✭✭
    Im a bit more concerned with US Notgeld than I am about US Istgeld.

    The Chinese, Indians, and US Bankers want to trick Gold way down.
  • 123cents123cents Posts: 7,178 ✭✭✭
    Looks like a good time to buy.
    image
  • stevebensteveben Posts: 4,595 ✭✭✭✭✭
    before the last LB show it was 1230
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭


    << <i>

    << <i>A drop of 2% doesn't add up to the "bottom falling out". >>


    What about the 32% decline since October, 2011 ? Does that constitute the bottom falling out? >>



    Depends on the entry point I suppose. For those that got in at $1800, not good.

    For those who bought at $300. Still a nice position.
  • BryceMBryceM Posts: 11,722 ✭✭✭✭✭
    If you want to be successful in stocks, gold, real estate, or whatever, do the opposite of what everyone else is doing.

    Look at it this way. Gold is going on sale.
  • BaronVonBaughBaronVonBaugh Posts: 1,835 ✭✭✭✭
    Let me know when it drops below $500. I consider anything over that overpriced!
  • 410a410a Posts: 1,325
    The Ukraine elected a new President a bilionaire candy maker and Russia agreed to dialog with him. Which means that about 15 minutes into the dialog Russia will tell Mr. Gummybear just how it works around here! Then the price will rocket again.........why? I have no idea, but it's been my experience when the people in the "KNOW" are in the know nothing goes the way they knew it would.
  • goodmoney4badmoneygoodmoney4badmoney Posts: 1,110 ✭✭✭✭


    << <i>Let me know when it drops below $500. I consider anything over that overpriced! >>



    Agreed.
  • renman95renman95 Posts: 7,037 ✭✭✭✭✭
    I welcome it. I wish the Saints would follow but they have held up rather well.
  • JazzmanJABJazzmanJAB Posts: 1,025 ✭✭✭✭
    This will help for when the Kennedy gold commemorative is released from the mint later this year.
  • thisnamztakenthisnamztaken Posts: 4,101 ✭✭✭✭✭


    << <i>This will help for when the Kennedy gold commemorative is released from the mint later this year. >>



    That thought crossed my mind too.
    P.S. I like your $5.00 Nike av'.
    I never thought that growing old would happen so fast.
    - Jim
  • mariner67mariner67 Posts: 2,746 ✭✭✭
    All markets are cyclical which is why you should be well diversified over all asset classes....never just in one or two unless you like casinos.
    PMs are in big bear mode since 2011.
    I recall after the late 70s and early 80s they went dead for decades.
    It could easily be decades again despite what the conspiricy theorists think.
    Successful trades/buys/sells with gdavis70, adriana, wondercoin, Weiss, nibanny, IrishMike, commoncents05, pf70collector, kyleknap, barefootjuan, coindeuce, WhiteTornado, Nefprollc, ajw, JamesM, PCcoins, slinc, coindudeonebay,beernuts, and many more
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    A lot of collectors hardly notice until speculators get restless. It makes me wonder how philatelists are affected by forever stamps not having a price affixed.
    So, when newly issued gold (HOF quarter ounce commems) are selling for about $3,000 per ounce (approximately, if we go by the "gold weight vs prices currently being paid"), and the majority have not even been released yet, I'm not sure where the floor is or how high the ceiling goes.
    In essence, miners are extracting it for about $700. How come those costs are so high ?
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Gold is a security investment... it holds value. To quote some famous economist (I forget who), "Gold will never be worth nothing." As opposed to fiat money.... Cheers, RickO
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    Normal, healthy correction to a long term bull trend. Lower prices in the short term should be expected. I'm thinking $1140 bottom before the bull wakes up.

    Gold (and silver) is dollar insurance. It pays off when dollars get destroyed but suffers when cash is king. At the moment with uncertainty in the markets and with asset deflationary forces in affect most "claims" on the insurance will be at a loss. Hold the policy and be prepared to increase coverage when insurance cost soon bottoms.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • trozautrozau Posts: 3,455 ✭✭✭
    I saw this from someone's sig line....

    The only constant we stackers have is the 31 grams of gold, platinum, palladium or silver in every ounce. When the spot goes down, the ounce doesn't drop less than 31 grams! We still have our ounce of gold, platinum, palladium or silver.
    trozau (troy ounce gold)
  • BigABigA Posts: 2,715 ✭✭✭✭


    << <i>Gold is a security investment... it holds value. >>



    Really?.......looks like it is bleeding "value".....
  • stockergreenstockergreen Posts: 483 ✭✭


    << <i>Looks like a good time to buy. >>



    Its a great time to buy
  • Timbuk3Timbuk3 Posts: 11,658 ✭✭✭✭✭
    I'm concerned, but still cautiously optimistic !!!
    Timbuk3
  • veryfineveryfine Posts: 1,763 ✭✭✭


    << <i>Let me know when it drops below $500. I consider anything over that overpriced! >>


    Yes, I completely agree and it's nice to know that I'm not the only one who feel this way.
  • 3stars3stars Posts: 2,280 ✭✭✭✭✭
    I am 100% sure that we're not completely sure.
    or
    The only thing Columbus discovered was that he was lost!

    PS: Name that show...
    Previous transactions: Wondercoin, goldman86, dmarks, Type2
  • crypto79crypto79 Posts: 8,623
    I love how commodities markets always use the news cycle problems as harbingers assuming there is a manic correlation.

    Trouble in Ukraine causes uncertainty which caused prices to go down!!
    Could just as easily been
    Trouble in Ukraine causes uncertainty which caused prices to go up!

    The news always fits the outcome.
  • BLUEJAYWAYBLUEJAYWAY Posts: 7,941 ✭✭✭✭✭


    << <i>I love how commodities markets always problems as harbingers

    Trouble in Ukraine cause uncertainty which cause prices to go down!!
    Could just as easily been
    Trouble in Ukraine cause uncertainty which cause prices to go up!

    The news always fits the outcome. >>

    Agree 100%.
    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • cohodkcohodk Posts: 18,554 ✭✭✭✭✭
    Interesting.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • BigABigA Posts: 2,715 ✭✭✭✭


    << <i>The news always fits the outcome >>



    Exactly....
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    I have always marveled at how corporations holding paper could so easily affect individuals in physical possession of something, whether that's Gold or PorkBellies, and it's the reason I just don't mess around with PM's. now I get to marvel at the fact that a Candy Tycoon is in charge of the Ukraine.
  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭
    If it drops far enough, I might end up owning it all.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • giorgio11giorgio11 Posts: 3,811 ✭✭✭✭✭


    << <i>If you want to be successful in stocks, gold, real estate, or whatever, do the opposite of what everyone else is doing.

    Look at it this way. Gold is going on sale. >>



    So true. If they were groceries, people would be filling up their shopping carts!

    Best Regards,

    George
    VDBCoins.com Our Registry Sets Many successful BSTs; pls ask.
  • TwoSides2aCoinTwoSides2aCoin Posts: 43,796 ✭✭✭✭✭
    image

    image

    Gold buggers say : "I've fallen and I can't get up." And some things just keep their value.

    And if we're going to look at it from a long term perspective or even objectively, we just have to LQQK… just to be on the safe side, that is. at what "long term" means.
  • rickoricko Posts: 98,724 ✭✭✭✭✭


    << <i>For those who bought at $300. Still a nice position. >>



    I am in a very nice position..... and will continue to be.... gold will go back up. My position is such that I cannot lose... very comfortable. Cheers, RickO
  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭
    I'm in the camp that $500 would be the bottom dropping out. Remember, us old guys have seen that before and all lived through it, so it is not the end of the world. If it does do that again, I will "back the truck up" which I did not do last time. I won't, however, buy bullion...I would just take the opportunity to pick up some type coins, or maybe some rolls of type coins.

    In terms of costs, even $700 is somebody's average, there is gold that is produced cheaper and more expensive than that. It's like oil...the Saudis have some wells that produce at $8/bbl, most shale operators are at $70 plus...so what is the real cost?
    ANA-LM, NBS, EAC
  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    I think of it like this as well gold will go back to where it started maybe $100 or so over and this will happen again, It's just the way it is.


    Hoard the keys.
  • MsMorrisineMsMorrisine Posts: 32,136 ✭✭✭✭✭
    Has?

    That's past tense


    Is still falling and will continue to fall ...,


    Back to $200-$300


    It was fun while it lasted.


    I got some great coins at terrible prices.....


    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • jmski52jmski52 Posts: 22,308 ✭✭✭✭✭
    I get to marvel at the fact that a Candy Tycoon is in charge of the Ukraine.

    They're amateurs. We got them beat by a mile.


    I think of it like this as well gold will go back to where it started maybe $100 or so over and this will happen again, It's just the way it is.

    I think of $18 trillion in monetized debt, plus unfunded liabilities that will be coming home to roost before too long.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>I think of it like this as well gold will go back to where it started maybe $100 or so over and this will happen again, It's just the way it is. >>



    $100 isn't where gold started. Better choices for that model would be $20 and $35/oz....maybe even the $252 low from the 20 year bottom in 1999-2000. While $103/oz was the mid-cycle low in gold in 1976, it wasn't the low of that entire cycle. Not a particularly good reference point for the current 1999-2014 cycle. The low following the 1966-1980 gold cycle was $290 in 1985, and that was challenged in 1999-2001. If there was another low to be challenged it would seem logical it would something well above the $250-$300 level....the 2008 low of $681 or support levels of $865-$1045 from 2009-2010 would be other potential targets. With most everyone still expecting those to occur, one has to wonder if it can really happen.

    There certainly would be no more precious mining industry operating in the world at $252/oz gold. Somehow, those guys managed to weather that 1998-2001 storm...but it was when most of their input costs and supplies were a fraction of today's prices. The price of technology and machinery never goes down....only energy prices. Labor pretty much doesn't go down either as it has gotten harder to find. Qualified geologists are scarcer than ever. Since 2000 the miners are having to dig 2X to 3X the ore to come up with the same amount of gold. So in that respect even $500-$750 gold would be quite challenging for them in 2015-2020. Many would be fall by the wayside. ALL of them would die at <$300/oz gold.

    If gold goes back to $100 or so because "it's just the way it is," then so will the average US home prices go back to $15K-$25K, the average US car back to $3,000, the average US labor rates will be go back to $3-$5/hr, the DOW back to 2500, etc.....because it's just the way it is. Yesterday I noted that since 1968, gold is up 35X and the Dow up around 20X. So far, neither of those have gone back to the "way it was" 46 years ago.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    an old thread on a topic that stays current. all I will say is that most members tend to consider that the way things will "shake out" is the way things always have: I believe this to be flawed logic. the World has changed, Markets have changed and the way things will "shake out" will probably change as well. many of the Economic models used by experts to project what will happen may be flawed as a result.

    think about it, the World is a markedly different place than it was 20 years ago.
  • LindeDadLindeDad Posts: 18,766 ✭✭✭✭✭
    And Burger flippers want $15.00/hr. image
  • braddickbraddick Posts: 22,995 ✭✭✭✭✭
    Can we agree gold is more likely to hit 1K before (if ever) hitting 2K?

    peacockcoins

  • Type2Type2 Posts: 13,985 ✭✭✭✭✭
    You know it's funny to see some selling gold on TV saying we need to buy gold becuse what ever are debt priting of money and so. But what do they want for it are paper $$ and that is crazy some one telling you your paper is no good but i'll take more of it so you can be better off with my good gold. When gold was up to $1600 a oz i went to sell a 10oz bar and no one had the cash to buy it and that is when i said I need to hold some Cash, Gold and silver Not just Gold, Silver it will not work if i need to go to the store not many will take my gold or silver for payment we still need cash. It's crazy but every one of us will take cash for are gold and silver "WHY" is the key word here if cash is no good. That is just me thinking Dumb Type2. image I'm sorry I ment to say $100 over spot just befor all this started it was at $290 so $390 to $490. spot price.


    Hoard the keys.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    yes, Pat, that seems reasonable.
  • keetskeets Posts: 25,351 ✭✭✭✭✭
    yes, Pat, that seems reasonable.

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