Big Big Sell off in Gold?!?

[ghemminger]

This is all a bunch of nonsence! This violent sell off is indicative a bull market

Designed to shake out the weak players - keep the wall of worry durring this bull market

BUY SILVER BUY GOLD - Buy the Dip - Silver is becoming scarce!

Don't worry if you buy them and they go lower......

 

[Luft97]

Yes, alot of people are running low or having a hard time keeping up with the demand. Apmex site is down atm.

 

[Trigonx]

Yes, alot of people are running low or having a hard time keeping up with the demand. Apmex site is down atm.

hopefully it will be up when silver goes down some more , I almost bought more silver when it was right under $20 after buying it after it was a tad higher than $17

 

[Dr.3D]

Yeah, I called the coin shop yesterday and they said they were having problems keeping up with demand.

 

[american.swan]

I have a friend who bought gold not long ago on my suggestion and they are freaking out not understanding what is going on.

I am holding mine and wantin' more.

 

[Luft97]

Tell him to hold in there. I bought most of my gold below 800 but I got a few more and a bunch of silver before the drop so I know how it can feel. There is some manipulation going on here. Look at the dollar index it is on the rise. The Higher the dollar the lower the gold will drop. There is no good reason for the dollar to be on the rise they won't be able to keep this up.

 

[bucfish]

I agree my local coin shop stopped selling his gold and silver he is running low on. And with Apmex not being able to keep up with demand, what is going on here.

 

[Dr.3D]

Yeah.... very strange how everybody is buying and the price is going down huh?

 

[Exarel]

I wonder how much lower it can go, i wanna buy some, but i wanna wait a little for it to go down some more

 

[Truth Warrior]

I once read some when, somewhere that the markets usually work in the ways that will hurt the most participants possible. Perhaps that's how many contrarians make their money.

Something worth considering.<IMHO>

Personally, I'm still wating for that long overdue major correction in the Berkshire Hathaway stock price. < LOL ! >

 

[ARealConservative]

I agree my local coin shop stopped selling his gold and silver he is running low on. And with Apmex not being able to keep up with demand, what is going on here.

This has been my experience as well.

Apparently we all need to head to Buffalo.

Ebay auctions this morning are still selling way, way higher then the quoted price for silver.

 

[markpa]

Ouch!!

again this morning....oh well I have already mentally committed myself to only sell after it hits $2,000 an ounce. I'll just stop looking at the markets for awhile.

 

[Dustancostine]

This has been my experience as well.

Apparently we all need to head to Buffalo.

Ebay auctions this morning are still selling way, way higher then the quoted price for silver.

Because of the time an auction takes to complete, ebay will lag behind. The auctions that are ending today, more than likely were started 3-6 days ago. Also the sellers who have buyitnow prices want to see the market stabilize before they reset their price.

--Dustan

 

[ARealConservative]

Because of the time an auction takes to complete, ebay will lag behind. The auctions that are ending today, more than likely were started 3-6 days ago. Also the sellers who have buy it now prices want to see the market stabilize before they reset their price.

--Dustan

Sorry - I already refuted this. I posted numerous auctions examples where I was outbid at the last minute. These aren't old bids where people are kicking themselves for locking in a price 2 days ago.

It isn't that hard to understand, price and demand will work differently for holding silver vs buying pieces of paper because inventories are totally different, demand is different, etc.

Those buying to hold operate under totally different sets of rules as those day trading or buying for IRA purposes.

 

[Cowlesy]

This is all a bunch of nonsence! This violent sell off is indicative a bull market

Designed to shake out the weak players - keep the wall of worry durring this bull market

BUY SILVER BUY GOLD - Buy the Dip - Silver is becoming scarce!

Don't worry if you buy them and they go lower......

I think each of your posts should include one of these.

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Notice: This message definitely does not contain information that may be confidential and/or privileged. If you are not the intended recipient, you should not use, disclose or take any action based on this message---even if you are the intended recipient, you shouldn't anyway. This message does not constitute investment advice.

 

[Matt Davidson]

Now's the time guys! Get some SLV down 7+% today. Back the truck up!

I make it a rule never to buy anything on an up day. To me this is a perfect opportunity.

I don't know if there's manipulation. I do know that Jim Rogers said a few days ago that the majority of investment banks were net short gold. These guys will cover to some extent at prices like this.

Right now the dollar is up vs. almost anything I would consider valuable... I am having a hard time understanding that. Any thoughts?

 

[Dustancostine]

Sorry - I already refuted this. I posted numerous auctions examples where I was outbid at the last minute. These aren't old bids where people are kicking themselves for locking in a price 2 days ago.

It isn't that hard to understand, price and demand will work differently for holding silver vs buying pieces of paper because inventories are totally different, demand is different, etc.

Those buying to hold operate under totally different sets of rules as those day trading or buying for IRA purposes.

Well apparently you do not understand the psychology of ebay buyers then. Since the auctions are lagging. Higher bids placed earlier are winning those auctions, driving buyers into fewer auction that were started more recently, creating a short term under supply of low priced auctions. Just wait a couple of days, if the low prices hold the auctions will reflect that. Also remember that buyers on ebay are usually not sane, they will bid any amount just to "win" a auction. Be patient and try to buy buyitnows. They are probably popping up all over the place it is just today they are going to last about a millisecond.

--Dustan

 

[MrKoffee]

Just bought some more GLD shares. Ka-ching. Great sale today.

 

[ARealConservative]

Well apparently you do not understand the psychology of ebay buyers then.

Ebay bidders have the same mentality?

Let me break this down for you as it is clear you aren't getting the significance of what I'm saying. Those are consumers. As consumers, they also determine what the value of items are.

If consumers are willing to buy silver for 23-24 dollars an ounce, then that is the market.

Apmex tried to stay with spot value, and they got crushed with demand and had to modify their policy because of it. People that physically hold didn't go off and sell just because prices of Silver reached $21+. Instead they stopped buying, but didn't sell. Now that prices dropped, they want to buy big time, but since so few were selling at $21+, demand greatly exceeds supply.


Right now, the prices quoted for silver are not the prices you can expect to pay to physically hold silver, and unless silver spikes again, it isn't going to normalize soon. Too many people are interested in buying right now.

 

[Mortikhi]

Speaking of gold and silver, I have a good number of late 1800 double eagle gold coins and some morgan silver dollars. Any place online that knows what these are worth?