gold and silver both DOWN - 5/8/2012

[The Freethinker]

Buy the dips, anybody?

 

[The Goat]

If you wife ask why, Tell her it was on sale. XD

 

[ILUVRP]

i would think spot gold should find a little support at $1500/oz . i would wait.

 

[ctiger2]

Gold and Silver are not down, purchasing power of USD is rising.

 

[xFiFtyOnE]

Gold and Silver are not down, purchasing power of USD is rising.

Too bad I never have any dollars when they are rising. Looks like I'll miss this dip unless it holds till friday.

 

[kuckfeynes]

Too bad I never have any dollars when they are rising. Looks like I'll miss this dip unless it holds till friday.

Bah me too. I just bought a friggen car, no jumping on this fire sale.

 

[RDM]

This is a calculated manipulated downturn (big money), setting up for the calculated manipulated stock market crash (big money). Hint hint.

 

[oyarde]

I have been buying silver ( again ) since Feb , bought some Mercury dimes yesterday .

 

[Guzabuza]

Look at gold weekly chart and put on a 20 MA, coming in at 1557. Only broke that line once in the whole bull market. Two other times bounced of it and resumed the uptrend. So buying there would put you in 2:1 favor. Pretty straight forward odds =p

Many charts, GDX, gold in euros, australian dollars, silver and individual stocks are on the crossroads. If Bernankus doesn't hint to the market on Thursday that there will be more of the same this could get nasty. On the other hand he has been hinting on QE3 for 1 year now and sooner or later it will come. But i guess that all those "smart" investors think somehow that the fed is not going to print or that it has everything under control.....

I hope one day somebody makes an real audit of Fort Knox, then we would know why gold is down 2 % today.

 

[Arklatex]

I've been selling, i'm a buyer under $30 though

 

[Miguel]

I wonder if there was a hearing of some sort going on some where? hmmmm......

 

[ILUVRP]

I have been buying silver ( again ) since Feb , bought some Mercury dimes yesterday .

smart move , you can't go wrong buying 1964 and before 90% dimes no matter where silver goes short term , avg in is always good , you will be happy if they go down in price as you can buy cheaper , you will be happy if they go up in price as what you have is higher.

keep buying.

 

[The Goat]

now we cant have that. QE3 to the rescue!

Gold and Silver are not down, purchasing power of USD is rising.

 

[DEGuy]

I'm just gonna ask: how many people here really understand the gold/silver markets and how prices fluctuate up and down? I certainly don't, and that's why I'm asking. Clearly some of what is being traded is physical gold, some of it is paper gold, some of it is contracts. But I just don't understand enough about the market and how much influence the central banks have over the prices (which I'm sure is a lot since PMs are their competition). And as Warren Buffet always said, "Never invest in something you don't understand." He also said a lot of other anti-liberty things, but the dude knows what he's talking about when it comes to making money.

Is there a gold/silver markets tutorial for dummies and/or conspiracy theorists?

 

[Arklatex]

what a simple question that I have no answer

All I can say is:

1 Fake Markets (So be in Cash, Short the markets)
2 Inflationary Money Printing Environment (So don't be in Cash or Short the market)

Pick your poison. It's a catastrophe

Only advice I feel comfortable giving someone is be self sufficient, if you have a ton of money left over after that then it's never a bad idea to own Gold.

 

[jbauer]

oh my god, sound advise from a gold owner?

 

[Seraphim]

All stock markets are selling off too. Deflationary crash coming. I wouldn't be surprised to see PM's, commodities, equities and real estate take a nose dive.

I've been saying all along we should see one more massive deflationary crash before the currency crisis hits. I think that time is upon us now.

Get your dry powder (cash) and get ready to buy some physical assets on the low.

 

[MRoCkEd]

Don't worry guys, silver will be 150 by last summer.

 

[seraphson]

Don't worry guys, silver will be 150 by last summer.

10 years ago gold was under 1/4 of the value it is today. I haven't seen a single thing change in our policies that would indicate a stronger dollar to reign the price of PMs in to something respectable (I dunno pre 1913 would be kewl). Don't worry guys Benny Boy will crank out QE 3,4, maybe 5 and we'll see where things go from there. Oh, how are those sanctions on Iran going? I heard the BRICS are up to no good those rascals.

 

[Brian4Liberty]

I'm just gonna ask: how many people here really understand the gold/silver markets and how prices fluctuate up and down? I certainly don't, and that's why I'm asking. Clearly some of what is being traded is physical gold, some of it is paper gold, some of it is contracts. But I just don't understand enough about the market and how much influence the central banks have over the prices (which I'm sure is a lot since PMs are their competition). And as Warren Buffet always said, "Never invest in something you don't understand." He also said a lot of other anti-liberty things, but the dude knows what he's talking about when it comes to making money.

Is there a gold/silver markets tutorial for dummies and/or conspiracy theorists?

Physical gold/silver is the only true and trusted market. When things get out of whack with the paper markets, physical metals will be the true price (maybe with a big premium above the paper price). Or physical will not be available at all. Supply and demand always holds true with physical metal. Not so much with paper metal. Supply can be fraudulently manipulated with paper.