Gold at $1195 where are the gold bulls?

Coin Finder · December 19, 2013 2:01AM

derryb · December 19, 2013 2:05AM

rounding up more cash.

DrBuster · December 19, 2013 2:17AM

And waiting for more of that blood in the street to spill.

Pokermandude · December 19, 2013 2:36AM

I've been selling silver hand over fist here locally the past couple weeks. I've been slow to pull the trigger on a big wholesale repurchase. Sentiment in the PMs market seems weak, especially on news of the slight tapering. Not much upward momentum right now.

jmski52 · December 19, 2013 2:54AM

PM bulls aren't beat up enough. It's not time to buy until you start feeling abused. It's not time yet, but maybe within the next 6 months.

It kinda depends on what the relative values look like after the stock market gets hit, the timing of which - is anyone's guess.

OperationButter · December 19, 2013 2:57AM

Please have gold hit sub 1k and silver ~12. Hopefully I'll get this as my xmas present.

MGLICKER · December 19, 2013 3:11AM

11 times the Brent crude price. Not bad.

C0INB0Y · December 19, 2013 3:14AM

<< And waiting for more of that blood in the street to spill. >>

as well as waiting for it to pool up a bit...

C0INB0Y · December 19, 2013 3:15AM

<< 11 times the Brent crude price. Not bad. >>

What's a "Normal" number?

RedneckHB · December 19, 2013 3:31AM

after the stock market gets hit

If the DOW gets whacked down to 12,000 and gold is still 1200, which is the relative value?

MGLICKER · December 19, 2013 3:52AM

<< 

<< 11 times the Brent crude price. Not bad. >>

What's a "Normal" number? >>

Do not know officially, but seems to be about the average historic spread.

fishcooker · December 19, 2013 4:32AM

I know I should be selling, so the end is nigh.

mhammerman · December 19, 2013 4:39AM

Went to a coin/bullion shop today. My first time there and it's a relatively new shop so we talked about how things are going. He sends in what comes in to the refinery, doesn't mess much with dates, turns it right around...comes in and goes out usually the same day. He said he would have to do too much research to do coins so he really doesn't mess with them except for the metal. But later in the conversation, he did say he paid $2400 for a 1850 O lib in an ngc 55 holder and sold it for 7K.

He's not selling too much right now. ASE's at spot + $4 and he had some silver maples. Asked if he had any 1/10 ozer AGE and he said no he doesn't have much fractional but he did just open a box of 1/10 maples. He asked me if I wanted some but I don't do maples so we left it at that (I'm trying to finish a tube of 1/10 AGE's...no distractions!). He said not much is coming in right now but he said when the price goes up, they'll start coming in to sell. He's mostly just holding tight and waiting for something to happen.

I didn't get the impression that he knew where spot was going but he did seem to be hunkered down, just waiting. My thinking...the bulls are still out there, waiting.

BAJJERFAN · December 19, 2013 5:36AM

Waiting to SCA! Stack Cost Average.

guitarwes · December 19, 2013 5:41AM

The gold bulls are chewing their cash cud waiting for the stampede.

Baley · December 19, 2013 5:45AM

Gonna be a slow bleed down to $900 over the next few months, with some bull trap mini-rallys along the way

Kip · December 19, 2013 6:10AM

$1195 is 3 times what I paid for mine years ago..I sold some at $1620 and I will hold the rest till I need it
Merry Christmas and Happy NY to all
Kelly "kip" Strong

Three · December 19, 2013 6:45AM

Hey I hope it re visits 800 or lower. Then all that talk about "insurance" , "hedge against inflation", "store of value" will make more sense than the $1,600+ prices.

VanHalen · December 19, 2013 6:51AM

<< Gonna be a slow bleed down to $900 over the next few months, with some bull trap mini-rallys along the way >>

That would likely mean $15 silver. We might be getting an ounce of silver next spring for less than the price of a good lunch. Amazing what's happened to commodities this year. It is indeed a strange time for all markets.

vpr · December 19, 2013 7:34AM

I picked up 2 ASEs yesterday for $20 a piece, delivered to my house. : ) I'm enjoying the price drop.

RedneckHB · December 19, 2013 8:06AM

Gold at $1195 where are the gold bulls?

Buried at $1700?

roadrunner · December 19, 2013 9:08AM

<< Gold at $1195 where are the gold bulls?
Buried at $1700? >>

I'd like to meet a gold bull some day that bought at $1700+ and is still holding on. Don't know if I ever will though.

RedneckHB · December 19, 2013 9:21AM

Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700?

roadrunner · December 19, 2013 9:30AM

<< Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700? >>

None that I'm aware of AND that they still own it. You can't be "buried at $1700" if you sold long before the crash into the $1200's. Even on the April crash to $1320 you had a final chance to bail out on the rebound at around $1450-$1488....and still one more chance more recently in August at $1400-$1434. No, I think finding someone on this forum (ie well informed) who bought at $1700 and rising but held all the way down into the sub $1350 range is like finding hen's teeth. Then again, there aren't exactly people lining up to divulge that they bought near the peak and held on into the lows.

agentjim007 · December 19, 2013 9:34AM

I just traded a gold coin I was buried in for some silver I am now buried in. It would have taken $3000+ oz gold to break even. Now I need $30+ oz silver to break even. Time will tell.

derryb · December 19, 2013 9:43AM

<< Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700? >>

your monitor must have a defect, because mine shows that is not what he said.

I suspect anyone that DID buy at $1700 was easily shaken from the tree at around $1500.

piecesofme · December 19, 2013 9:50AM

Being that the sentiment here seems to be wanting for more of a considerable drop, I suspect there's alot of people who are buried in $30-35/oz silver and need $12/oz to justify buying any more. Just an observation after reviewing comments made.

RedneckHB · December 19, 2013 9:58AM

I think you are both dillusional then. No wonder conspiracy theories sit so well with you. Both of you were saying at 1700 that gold is going higher. So now you say you weren't buying and/or sold. What do you say to the newbies on these threads that so revered your words? Hypocritical charlatans.

Gold bulls buy for the long term. How many buy on the dip comments were made by both of you. Never a sell on the rally. How can anyone ever take you guys seriously again?

bestmr · December 19, 2013 10:00AM

I know I bought some gold when it was around $1600. 1/2oz or so. I also bought a PCGS MS64+ Saint when gold was at $1900. I still have both however, as I'm in it for the long run and I LOVE the Saint.

bronco2078 · December 19, 2013 10:28AM

I have some quarter eagles from around $1800 , ex jewelry stuff. I liked them so I stashed them away and forgot to unload them. Whatever melt was at the time is what I paid .

piecesofme · December 19, 2013 10:29AM

This fall has someones panties in a bunch because they are buried in overvalued metal it appears LMAO! Others are honest enough to admit truth, with a dash of a few that can't handle the heat in the kitchen.
You're the one out of your damn mind coho. You've got entirely too much time on your hands ya clown.
Remember me? I'm the guy that said silver would never get over $30 again in our lifetime

How's that shaping up for ya?

OperationButter · December 19, 2013 10:32AM

I bought gold at 1700 and Im still holding on to it. Does that make me an idiot? Sure sounds like it according to RR...

Maybe if I added that I have been buying gold and silver religiously since 2004 when prices were in the 400s and 7 dollars respectively. Still make me stupid?

Did I know at the time we were at/near the top, no. Do I really care, no. Have I been actively buying since, yes. Maybe I'm the only one to admit that my recent purchases in the last 2 years have lost money on paper, but do I intend to sell, hell no. In fact, Im still buying. I hope they take gold sub 1k. Id love to buy even more every month that I currently do. Only thing that changes is I get more ounces of silver/gold than I did the previous month.

The precious metal side of my portfolio has seen a decrease in overall value, my collectible coins have seen an increase. Other areas of my overall portfolio have seen a nice increase. Yes, I would like to see everything rise in value, but that isnt realistic. Ive seen when all correlations go to 1, 2008 wasnt pretty for many.

Guess Im rambling, Ill just go back to stackin as I wasnt "shaken from the tree."

OperationButter · December 19, 2013 10:34AM

<< I'm the guy that said silver would never get over $30 again in our lifetime >>

You must be a very very old guy

Baley · December 19, 2013 10:40AM

<< 

<< Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700? >>

None that I'm aware of AND that they still own it. You can't be "buried at $1700" if you sold long before the crash into the $1200's. Even on the April crash to $1320 you had a final chance to bail out on the rebound at around $1450-$1488....and still one more chance more recently in August at $1400-$1434. No, I think finding someone on this forum (ie well informed) who bought at $1700 and rising but held all the way down into the sub $1350 range is like finding hen's teeth. Then again, there aren't exactly people lining up to divulge that they bought near the peak and held on into the lows. >>

do we need to go dig up the "Friday PM porn" threads from 2011?

derryb · December 19, 2013 10:41AM

The real difference between opinions here is that some only see where we are while others see where we're headed. Kinda reminds me of the real estate boom prior to 2008.

And some opinion concerns metals while other opinion concerns those that have opinions.

TheRegulator · December 19, 2013 10:50AM

Coin Finder · December 19, 2013 11:32AM

Fear not, if I have learned anything its that uncertainty is in abundance over time and that $1700.00 gold will back...eventually!

mhammerman · December 19, 2013 12:01PM

Yellow metal has been in a decaying orbit since $1700 and it is still decaying...people know this. This decay may have got a few go go types but for the steady hand...me thinks not so much. Just guessing, most folks here bailed from the spouses and commems at between 1600 and 1700 and have been just waiting since then; saving the numismatics and holding cash. I believe those that were paying attention at that time saw the decay coming. The only people I remember being the big buyers at 1600-1700 were the hotel guys and the cash for gold guys. I don't think so many regular guys were getting in at that time, I think they were mostly getting out.

Interesting to note that the hotel buyers seem to have disappeared and the radio ads and newspaper ads from metal buyers have noticeably diminished. It's all quiet. My spidey sense tells me that there is some major positioning going on by someone with some serious stroke.

Got GOLD?

TwoSides2aCoin · December 19, 2013 12:20PM

Dip on the buy.

Or something like that.

derryb · December 19, 2013 12:26PM

<< My spidey sense tells me that there is some major positioning going on by someone with some serious stroke. >>

That woud be China. Rumor has it JPM is now their US buying agent taking over a ton delivery daily for them off the COMEX. Not enough questions being asked about why a Chinese company bought One Chase Manhattan Plaza which has the largest precious metals vault in the world and is directly across the street from the NY FED vault. I suspect China is in the process of owning the paper market as well as the physical market. The other big question is "why would the US not only allow this, but help to expedite it as well?" Maybe something to do with paying off a large paper debt?

I just hope China allows me to keep my gold eagle collection.

500Bay · December 19, 2013 7:34PM

Here is a gold/oil ratio chart:

Oil to Gold ratio

DrBuster · December 19, 2013 9:13PM

No qualms here about it. I have $1700+ gold, not a lot, but my DCA with some nice GSR swaps during the 2011 run is under $800 if memory serves, closer to $750 honsetly. Sub 1200 in 2014 I'd like to add a few oz actually.

Coin Finder · December 19, 2013 11:44PM

Here come the bulls!!!

bluelobster · December 20, 2013 2:26AM

<< 

<< Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700? >>

your monitor must have a defect, because mine shows that is not what he said.

I suspect anyone that DID buy at $1700 was easily shaken from the tree at around $1500. >>

By the very nature of physical gold "enthusiasts", I am pretty confident in saying that the vast majority of RETAIL buyers, are still holding the gold they bought at &1700 hundred and higher. The relative illiquidity of physical metals, the premiums and the philosophy of stackers, all contribute, imo. Surprises me that many would think differently. We're not talking about traders, we're talking about an group with a philosophical and emotional attachment to their investment.

at least that's the way I see it

BAJJERFAN · December 20, 2013 2:56AM

<< 

<< 

<< Seriously Roadrunner? Not a single person on this forum bought gold at or above 1700? >>

your monitor must have a defect, because mine shows that is not what he said.

I suspect anyone that DID buy at $1700 was easily shaken from the tree at around $1500. >>

By the very nature of physical gold "enthusiasts", I am pretty confident in saying that the vast majority of RETAIL buyers, are still holding the gold they bought at &1700 hundred and higher. The relative illiquidity of physical metals, the premiums and the philosophy of stackers, all contribute, imo. Surprises me that many would think differently. We're not talking about traders, we're talking about an group with a philosophical and emotional attachment to their investment.

at least that's the way I see it >>

So should the people who bought on Wednesday have panicked and sold yesterday because it was down $30 or more?

Nysoto · December 20, 2013 3:33AM

Secular bear market for gold prices began in 2011. The last gold bear market lasted 20 years. Buy early US gold coins 1795-1834 if you want to make money over the next decade.

OnlyGoldIsMoney · December 20, 2013 3:36AM

I have added 3 1/2 ounces this month and may add more by year's end.

Timbuk3 · December 20, 2013 4:04AM

Out in the pastures !!!

TwoSides2aCoin · December 20, 2013 6:31AM

MCMLXXXVIII
One Ounce Proof AGE purchased today.
Price availaBULL upon request.

Pokermandude · December 20, 2013 6:44AM

I just pulled the trigger on 50x 10 oz bars. We may dip a bit below where the POS is at now, but I think we are close enough to a fairly solid bottom. I've given up on trying to time the lowest bottom price, in favour of getting metal in hand at a still attractive price.

pf70collector · December 21, 2013 7:36AM

All of my gold is in modern collectibles like the 2008 $25 PF 70 Gold Buffalo, UHR Gold, $5 and 2008 $10 Gold PF and MS Gold Buffalos. All bought directly from the mint when offered, not the aftermarket. I never bought gold just above spot for the sake of stacking. There is some protections from the collectible versions of gold even though you pay a higher premium initially, but like anything else collectible there is no guarantee.

Gold at $1195 where are the gold bulls?

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