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If gold goes down
veryfine
Posts: 1,763 ✭✭✭
To say that the future price of gold is unpredictable is stating the obvious, but how many of you are waiting for it to dramatically plummet in value, so you can finally buy some of those beautiful Buffalo $50 coins?
Just wondering if there are others out there in fantasy land like me.
I apologize if this topic has been covered a million times.
Just wondering if there are others out there in fantasy land like me.
I apologize if this topic has been covered a million times.
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My question would be: Hypothetically (and it could happen).......If gold does go to say $500/oz. would anybody who has these Gold Buffalo's be willing then to sell them close to melt + a little when they've paid today's melt prices + a little for them?
Too many positive BST transactions with too many members to list.
Isn't the real question what do you do with your money while waiting for the market drop / buying opportunity?
I would venture to say "yes." There's always someone selling in order to raise cash, and if you need cash for something important, reality dictates that you sell gold at market prices.
I knew it would happen.
<< <i>My question would be: Hypothetically (and it could happen).......If gold does go to say $500/oz. would anybody who has these Gold Buffalo's be willing then to sell them close to melt + a little when they've paid today's melt prices + a little for them? >>
They are bullion and will track the price of gold very closely. There are tons and tons of these Gold Buffalos. Dealers don't have any sentimental attachment to prices when it comes to bullion. If one dealer does, he/she will be undercut by someone who does not. A few mouse clicks will find a dealer willing to sell gold Buffalos for a modest premium over melt, whatever the price of gold may go to.
I have 3 in my SDB and need 9 more
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>the spot price of gold has acted really weird lately - with all of this upheaval in the stock market, sub-prime, falling dollar etc, you would think gold would be $1000/oz by now - BUT, there are forces in the world who know if gold would make a run to this level, their precious paper profits would turn to dust - powers beyond my (our) control >>
It's pretty simple-- foreign CBs sell gold to cap the price.
Gotta love dem free markets!
Strange, they never publicize who's buying all those tonnes of gold.
I knew it would happen.
<< <i>Platinum will drop more than gold in the future. Nearly one third of newly mined platinum is used in auto catalytic converters and some say some day this will no longer be required. >>
It's gonna happen sooner than you think.....
just completed 3d tour to Iraq and retired after 28+ years in the US Army
<< <i>It's pretty simple-- foreign CBs sell gold to cap the price.
Strange, they never publicize who's buying all those tonnes of gold.
Yeah, but they do publicly announce ahead of time their intent to sell, which is even stranger.
<< <i>Platinum is a strategic military metal in virtually every military component in the weapons systems around the world. Guided missiles, submarines, high-tech aircraft the' re loaded with platinum. Main reason why it's gone from $400 to $1,200 an ounce. With the precious metals pressures from gold and the drop in the dollar a situation where platinum is $3,000 to $5,000 an ounce is not unreasonable to foresee. All the platinum ever mined in the history of the world would fit in a room the size of an average living room! >>
I've read the part about the size of a living room somewhere before and it's also worth noting that there is enough platinum in above ground reserves that if mining stopped today supplies would last one year (compared to 25 years for gold). Having said that though, if 1/3 of it's demand dried up then the price would surely tank.
Hoard the keys.
What technology are you talking about? It merits further investigation, if it's that good.
I knew it would happen.
<< <i>To say that the future price of gold is unpredictable is stating the obvious, but how many of you are waiting for it to dramatically plummet in value, so you can finally buy some of those beautiful Buffalo $50 coins?
Just wondering if there are others out there in fantasy land like me.
I apologize if this topic has been covered a million times. >>
Veryfine asks a very good question!
First, if anyone knew the direction that the price of gold was headed, they would not share. (Full Stop).
Second, if anyone knew in the past where gold was headed, they would be rich and not be speculating on this board. (Full Stop).
Third, I have worked on the floor for the largest mutual funds in the US and Europe. No company I have worked for has moved from equities or bonds to gold! Never! The link between the stock and bond market to metals is a farce! The firms keep their cash very liquid. Why would a fund that is based in Euros, sell a stock for Euro, sell Euros to buy dollars, buy gold, wait for the fluctuation in gold, dollars, bonds, stocks, then buy Euros, then buy Euro based bonds? Answer, it does not happen! Ever! Portfolio managers want cash, not gold, silver, or Chuck E, Cheese tokens! (Full Stop).
Don’t think that gold will drop to $500 or go to $1,000! For 30 years, okay 28 years, the metal markets have been all over the board! As the prices rise, the premium (the spread) you pay to buy increases. As the prices drop, the spread drops.
Honestly, the Buffalo $50 bullion deserves a premium. Give it a 50 USD above spot. It is the best the US bullion piece! If you like/enjoy it, Buy it! Do not purchase precious metals for retirement! Too many people are trying to dump their 1980 investments! Remember, Carter was President! You could buy a car for $6,000. You could buy a home in SoCal for $60,000.
Do not invest in precious metals!
122/123
John Reich Collectors Society
Capped Bust Dimes
could happen again I suppose
NSDR - Life Member
SSDC - Life Member
ANA - Pay As I Go Member
<< <i>What technology are you talking about? It merits further investigation, if it's that good. >>
Well I recently read that "some manufacturers are using less expensive palladium in place of platinum in catalytic converters. As a catalytic converter component in diesel engines, palladium is proving to be a better than platinum"
There are also two technologies that would get rid of the catalytic converter as we know it today:
"The Pre-Ignition Catalytic Converter integrates the GEET Reactor developed by Paul Pantone and purchased by Dennis Lee for Better World Technologies. It involves the pre-heating of fuel by passing it's lines through the exhuast along a rod. The claimed result is that the fuel it turned to plasma, in its elemental, atomic state, and burns super efficiently and cleanly. Other items can be added to the fuel as well, and it will still burn, including water, pickle juice, pop, sugar, waste oil, etc.
The PICC technology is not yet in production. While waiting for its release, Better World Technologies presents several other fuel-saving, emissions-reducing technologies that will improve mileage from between 50% and 100% -- "guaranteed." Furthermore, the price of those intermediate technologies can be applied "100%" toward the purchase of the PICC once it becomes available."
You can also look up the Hydro Assist Fuel Cell.
On a side note, am reading a very good book by Peter Schiff, "Crash Proof: How to profit from the coming economic collapse." I highly recommend for anyone who has their life savings in the bank or in the market. You need to read this book.
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
<< <i>"Crash Proof: How to profit from the coming economic collapse." >>
In which decade did that one come out? There's been a similar book published about every ten years since the Great Depression.
Russ, NCNE
Rampant currency debasement will be the most important investment trend of this decade, and it will devastate most people.
- Nick Giambruno Buy dollar insurance now, because the policy will cost more as the dollar becomes worth less.
As I have stated in the past, if gold drops to whatever it would not matter as I would still buy my precious coins. Although finances are important, I primarily collect for the love of the hobby and not the money (heck, the kids can deal with that once I'm gone)!
Young Numismatist ............................ and growing!
Such a link is hardly needed considering that all the above ground gold can be purchased at current prices for a couple of Trillion dollars.
Multiples of this trades on the currency markets daily.
Don’t think that gold will drop to $500 or go to $1,000! For 30 years, okay 28 years, the metal markets have been all over the board! As the prices rise, the premium (the spread) you pay to buy increases. As the prices drop, the spread drops. Do not invest in precious metals!
Spoken like someone who was not around during the 1970's.
The pro-derivatives (high debt) crowd has helped to keep gold under wraps for nearly 30 years. Now that the lid is coming off their credit games, what will happen to gold? Will the financial crowd continue to follow these pied pipers? If you chart gold from 1982 to 2001 you will find very little movement. The trend was generally lackluster in the down direction. Hardly all over the map.
$1000 is a shoe in......from there...anyone's guess.
roadrunner
<< <i>Don’t think that gold will drop to $500 or go to $1,000! For 30 years, okay 28 years, the metal markets have been all over the board! As the prices rise, the premium (the spread) you pay to buy increases. As the prices drop, the spread drops.
Honestly, the Buffalo $50 bullion deserves a premium. Give it a 50 USD above spot. It is the best the US bullion piece! If you like/enjoy it, Buy it! Do not purchase precious metals for retirement! Too many people are trying to dump their 1980 investments! Remember, Carter was President! You could buy a car for $6,000. You could buy a home in SoCal for $60,000.
Do not invest in precious metals! >>
An interesting and intelligent response.
Despite the many knowledgeable soothsayers in here, I am not the least bit convinced that gold won't drop to $400 or even lower.
I would love to buy half a dozen Buffalo coins for their beauty and value, but not at the current prices. I might slap myself if gold creeps up to the $1000 mark and keeps going up up up, but it's a chance I'm willing to take. Patience MIGHT pay off. But, no matter what price I pay, I am not expecting to get rich from my pathetic little 6 piece hoard of gold.
<< <i>
An interesting and intelligent response.
Despite the many knowledgeable soothsayers in here, I am not the least bit convinced that gold won't drop to $400 or even lower.
I would love to buy half a dozen Buffalo coins for their beauty and value, but not at the current prices. I might slap myself if gold creeps up to the $1000 mark and keeps going up up up, but it's a chance I'm willing to take. Patience MIGHT pay off. But, no matter what price I pay, I am not expecting to get rich from my pathetic little 6 piece hoard of gold. >>
It's highly improbable that gold can drop to such a level.
It could happen if the government decides recession is better than inflation but this is highly
improbable in the current financial condition of the world. I'd guess gold is likelier to go to
$4,000 than $400, though both are about equally improbable in the short term.
roadrunner
<< <i>It's highly improbable that gold can drop to such a level.
It could happen if the government decides recession is better than inflation but this is highly
improbable in the current financial condition of the world. I'd guess gold is likelier to go to
$4,000 than $400, though both are about equally improbable in the short term. >>
So Cladking, you peaked my curiosity. Given what you just said, do you think it's a pretty good idea to buy some gold now at the current prices?
We soon discovered that the shoes belonged to roadrunner. His head was so far up his own arse, that he was little more that a pair of cheap loafers attached to an arse!
Roadrunner, you are an ignorant slut! I was very around in the 70s! I supported expeditions to 3rd world countries on the profits from the metal markets! Dude, the increase is metal prices is directly related to the devaluation of the US dollar in relation to world currencies. In fact, gold is cheap in EURO!
If anyone in invested in anything other than USD investments, they would be doing well! Heck, Legos, BMW, EUR or coffee beans would be out performing US investments. You are correct, highly leveraged investments in the US are about to fall! Do not invest in US real estate! Since real estate is the highest leveraged asset in the United States, here is the highest risk. Not gold, silver or Roadrunners sperm.
No professional asset manager will tell you to move to metals! Okay, a guy in the desert will tell you to buy silver, gold, lead, or water! Buy! WTF this guy is living in the desert!
Roadrunner, fall off your soap box! Get a job!
Do not buy gold at the current levels! Sell! Sell! Sell!
122/123
John Reich Collectors Society
Capped Bust Dimes
Actually, gold was cheap in Euros at 350. At 486, it's hardly cheap. And Europe has a housing bubble, too. The Yen carry trade unravelling will affect them as well.
Nothing much is cheap in Europe right now, at least if you live there. Stuff is expensive in Euros and brutally so in dollars - at least in Spain. That country (actually, their citizens especially) got hosed in the conversion from the Peseta.
Otherwise, I tend to agree with you.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>Do not buy gold at the current levels! Sell! Sell! Sell! >>
That's a clarion call to buy gold now. The louder the shout and the more exclamation points that are used, the greater the upside potential.
When we are planning for posterity, we ought to remember that virtue is not hereditary.
Thomas Paine
<< <i>
<< <i>It's highly improbable that gold can drop to such a level.
It could happen if the government decides recession is better than inflation but this is highly
improbable in the current financial condition of the world. I'd guess gold is likelier to go to
$4,000 than $400, though both are about equally improbable in the short term. >>
So Cladking, you peaked my curiosity. Given what you just said, do you think it's a pretty good idea to buy some gold now at the current prices? >>
A few percent of almost everyone's assets should be in gold as insurance.
Gold is a good means of preserving wealth during inflation. We are enterring
an inflationary period so gold will outperform most currencies. It will probably
lose a substantial amout starting several months before inflation starts easing.
We're probably looking at a protracted time period here.
I don't think there are going to be any dramatic surprises now.
<< <i>
<< <i>Do not buy gold at the current levels! Sell! Sell! Sell! >>
That's a clarion call to buy gold now. The louder the shout and the more exclamation points that are used, the greater the upside potential. >>
It is a meaningless signal, if it is from someone who has been saying the same thing for the past five years, while the price of gold has doubled. Just as meaningless as one of the perma bulls saying buy now or regret it later, like they have been doing for the past full year of down to sideways action in gold.
If one of the perma-bulls issues a sell, or perma-bears issues a buy, that would be interesting reading.
I miss seeing Marty and Louis on Friday nights. Somebody really needs to bring that format back to Friday nights. Maybe Fox's new financial channel will when they launch.
When we are planning for posterity, we ought to remember that virtue is not hereditary.
Thomas Paine
<< <i>I'd definitely buy. >>
As would I. Hello generic saints!
Personally, I believe it will increase dramatically, but who am I to predict?
I think the bottom line in today's crazy market where you have many unpredictable situations - inflation, deflation, status quo, etc.....that the safest way to invest (to cover all bases) is to allocate your funds in three equal ways.
1/3 in stocks; 1/3 in cash; and 1/3 in Gold and Silver.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
"I only golf on days that end in 'Y'" (DE59)
When it dramatically plummets, I betcha most won't buy because they're afraid of:
1. More dramatic plummetting to come.
2. Gold is no longer fashionable as an investment.
I'd be interested to know when you think gold is going to plummet.
I knew it would happen.
<< <i>When it dramatically plummets, I betcha most won't buy because they're afraid of:
1. More dramatic plummetting to come.
2. Gold is no longer fashionable as an investment. >>
I think you are right. How many of us were buying when gold was in the $300 range just a few years ago.I'm sure some of you were but I bet the majority of you (me included) were not.
<< <i>When it dramatically plummets, I betcha most won't buy because they're afraid of: 1. More dramatic plummetting to come. 2. Gold is no longer fashionable as an investment. >>
That's the only time I buy, when it dramatically plummets.