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PM in Freefall!!!
Connecticoin
Posts: 12,775 ✭✭✭✭✭
Gold $919, Silver $17.50!!
Hey goldbugs, I thought stocks were supposed to be doing this!!
Hey goldbugs, I thought stocks were supposed to be doing this!!
0
Connecticoin
Posts: 12,775 ✭✭✭✭✭
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Bulls charge
I knew it would happen.
<< <i>no tree grows straight to the sky. This dip is deeper than I expected. It reminds me of the dip from 700 back to 640 where I last told friends it was a buying opportunity. --Jerry >>
No, no, no, it's panic time!! Sell it all!!
What's this buy low, sell high nonsense?
Hell, I don't need to exercise.....I get enough just pushing my luck.
Fighting the Fight for 11 Years with the big "C" - Never Ever Give Up!
Member PCGS Open Forum board 2002 - 2006 (closed end of 2006) Current board since 2006 Successful trades with many members, over the past two decades, never a bad deal.
I knew it would happen.
<< <i>Better learn to ignore the volatility. There's going to be more uncertainty in all things financial for the foreseeable future (unfortunately so). >>
I think you are right.
Don't be surprised if we see another bank holiday (as in 1933) at some time in the not too distant future.
<< <i>I can see silver dropping back around $12 and gold back to $750 before the selloff ends. It reminds me of the big drop in 1980 when the bubble burst. >>
Hmmm, interesting. Will we hear from the guys predicting $40 silver and $2000 gold today?
SINGAPORE, March 20 (Reuters) - Gold dropped more than 2 percent to its lowest level in a month on Thursday amid a broad-based sell off in commodities and as funds cashed in after pushing the metal to a record above $1,000 an ounce this week
Gold....$921.20
Silver...$ 17.28
Plat.....$1814.00
& dropping...
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
<< <i>that is a signifigant drop. can't be all speculators influencing this. I wonder what, industry wise, happened to cause this?? >>
Usually, Russ would take the blame for this, but this time it's my turn, having just bought a bunch of 90% a few days ago when it was at 20. Likewise, last Saturday I bought not one, but two new pairs of sunglasses after trying in vain to find mine during an unusually sunny week. We're seeing the sun today for the first time since then, but I'm going out of town for a week today to where the forecast calls for no sun until the day I return.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
<< <i>SELL SELL!
I am waiting till gold gets to $250 before I sell and/or $3,000 before I buy!
Knowledge is the enemy of fear
<< <i>SELL SELL!
to whom??
<< <i>that is a significant drop. can't be all speculators influencing this. I wonder what, industry wise, happened to cause this?? >>
One figure I read a couple days ago was that gold imports into India -- for jewelry; India is the largest producer of gold jewelry -- cratered in February.
"According to figures released by the Bombay Bullion Association today, gold imports into India, the precious metal's biggest consumer, fell to 10 tonnes in February from 59 tonnes a year ago, analysts said." -- Source: Forbes
OTOH, Today's Reuters news says that jewellers in China, Vietnam and Japan are just thrilled with today's lower prices. (Other countries -- including India, natch -- are mentioned as well.)
Jewelry is a large component of gold demand. If everybody's selling their jewelry and shrugging off purchasing as too expensive, gold prices simply have to fall.
Platinum has a component of jewelry demand as well, but it's a smaller proportion and isn't as compressible as it is for gold.
Smart guys buy when stuff is on sale. Not when they are at the highs.
Benjamin Graham said..."Buy straw hats in January".
Think about that.
<< <i>
<< <i>SELL SELL!
to whom?? >>
to Kitco
Stock market has a lot more room to fall. Gold is the better investment.
From APMEX home page
Dear Valued Customer,
Due to the OVERWHELMING demand for precious metals, our online ordering system has been unable to keep up with our customers’ needs. We have had to disable the APMEX ordering system to allow us ample time to upgrade our site to accommodate the increased demand. We apologize for this temporary problem. In the mean time, we will be accepting telephone orders for the following items only as we have them available:
• 1 ounce Gold American Eagles
• 1 ounce Gold Canadian Maple Leafs
• 1 Ounce Gold Krugerrands
• 100 oz Silver Bars
• Misc Generic .999 Fine Silver
• 90% Coin Silver
During this time, we will have a minimum order of $5,000.
<< <i>Get ready at $880.
Smart guys buy when stuff is on sale. Not when they are at the highs.
Benjamin Graham said..."Buy straw hats in January".
Think about that.
Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table.
FROM the Apmex web site
Dear Valued Customer,
Due to the OVERWHELMING demand for precious metals, our online ordering system has been unable to keep up with our customers’ needs. We have had to disable the APMEX ordering system to allow us ample time to upgrade our site to accommodate the increased demand. We apologize for this temporary problem. In the mean time, we will be accepting telephone orders for the following items only as we have them available:
• 1 ounce Gold American Eagles
• 1 ounce Gold Canadian Maple Leafs
• 1 Ounce Gold Krugerrands
• 100 oz Silver Bars
• Misc Generic .999 Fine Silver
• 90% Coin Silver
During this time, we will have a minimum order of $5,000. We regret we have had to make this drastic change to our ordering process and rest assured, we are working expeditiously to correct the problem. As soon as we have our new site up and running, we will notify you via e-mail when you can again place orders online.
You may contact us during normal business hours Monday – Friday 7:30 am – 4:00 pm cst. (800) 375-9006
If you have existing orders with us, we have in-stock all items needed to fulfill your orders and are shipping them as scheduled. Once our new site is functional, we will be able to activate our complete inventory line again.
Respectfully,
Scott Thomas
President & CEO
P.S. We are actively looking for new bullion inventory to purchase. If you have items that total $2,500 or more and are interested in selling, please call our trading offices at the number listed above. We are paying strong numbers for ALL Precious Metals!
<< <i>
Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table.
ONCE!!
Uh....wow....!!
Chicolini: Mint? No, no, I no like a mint. Uh - what other flavor you got?
<< <i>Looks like more than just a correction in my eyes. >>
Usually a correction is defined as a retrenchment down to 10-20% off the highs. At $1000, that means gold in the $800-900 range is in "correction."
<< <i>
<< <i>Looks like more than just a correction in my eyes. >>
Usually a correction is defined as a retrenchment down to 10-20% off the highs. At $1000, that means gold in the $800-900 range is in "correction." >>
True for Gold, not yet, ... but Silver is already down about 15% & that I consider a correction....btw Plat. is down almost 20%, also a correction....
Exactly! This is what I've been waiting for, just a little lower and I'll be buying again!
<< <i>Looks like more than just a correction in my eyes. >>
Your eyes are inexperienced.
Look at a chart og gold from 2002 and count the 15% corrections.
THEN....post your observations. Man, do some work and quit reacting to what is actually normal market action.
<< <i>
<< <i>
Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table.
ONCE!!
Last POST
where's a good place to buy silver, since apmex closed (with cheapest prices)?
were forced to liquidate their commodity holdings in exchange to borrow the money.
so they sold it all off to add to their pool of borrowed money and the fed gets what
it wants of commodities cooling off short term.
i am pleased to see gold drop and may concentrate on buying with motto half eagles
for a while at 200-225 a pop in AU. if silver hits 15 an ounce i shall start picking up
10 ounce bars again every time i see them at local coin stores.
<< <i>bige told me that banks that went to the fed teat to borrow emergency money
were forced to liquidate their commodity holdings in exchange to borrow the money.
so they sold it all off to add to their pool of borrowed money and the fed gets what
it wants of commodities cooling off short term. >>
If this is true, it certainly provides a window for people to load up at lower prices.
It's probably tied to this week's strength in the dollar, too.
Check out some of my 1794 Large Cents on www.coingallery.org
<< <i>
<< <i>
Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table.
ONCE!!
well... unfortunately I am here to say i have done stupid things like that on several occasions
1) approx 9yrs old... the old hair pin in the socket trick - ouch
2) "experimenting" with a science geek buddy of mine cutting a/c wires to oxygenate water... i will stop there - yeaowwwiee
3) building my own personal "friken" laser with parts from a HAM radio show... the 14,000 volt power supply had a "break" in the wire - let's just say black entry/exit marks and numbness
yes... I am a dumb arse... but those were the good ol days!
-sm
The Maddy Rae Collection
CURRENT BST OFFERINGS
<< <i>that is a signifigant drop. can't be all speculators influencing this. I wonder what, industry wise, happened to cause this?? >>
Oil under 100 a barrel and lower demand for it? I really do not know
ONCE!!"
Me too. One lesson is all you need.
<< <i>"Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table. >>
ONCE!!"
Me too. One lesson is all you need. >>
ditto, but i used a key :-| i pulled a ben franklin without the kite.
Gold, platinum and silver will likely drop back to their long term trend line before the insane run up that started earlier this year. That would drop platinum back into the $1700s and gold into the 800s. Not exactly bad if you're looking at a longer term chart.
Basically, the past 2-3 months have been overheated fluff courtesy of new money piling in.
However, longer term, is anyone actually going to predict well-contained inflation in the U.S.?!? Because that's what it would really take to significantly pound gold and platinum into the ground going forward.
<< <i>
<< <i>"Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table. >>
ONCE!!"
Me too. One lesson is all you need. >>
ditto, but i used a key :-| i pulled a ben franklin without the kite. >>
I did it with one of those old rc cars that had the metal antenna on both the car and the xmitter....dad hid the batteries and I thought that I could charge the car by placing the antenna of the receiver in one side and the car antenna in the other............held in place by bare hands......well before the addition of a grounding plug
Hell, I don't need to exercise.....I get enough just pushing my luck.
<< <i>
<< <i>
<< <i>
Jay, your new avatar really takes me back. I remember doing that from my high chair at the dinner table.
ONCE!!
well... unfortunately I am here to say i have done stupid things like that on several occasions
1) approx 9yrs old... the old hair pin in the socket trick - ouch
2) "experimenting" with a science geek buddy of mine cutting a/c wires to oxygenate water... i will stop there - yeaowwwiee
3) building my own personal "friken" laser with parts from a HAM radio show... the 14,000 volt power supply had a "break" in the wire - let's just say black entry/exit marks and numbness
yes... I am a dumb arse... but those were the good ol days!
-sm >>
Call me crazy, but although down today, gold seems to be sticky at about $920 and platinum at $1855 is rallying a bit off its lows...
Don't blink, because the "massive PM correction" may have already come and gone...I hope!