gold and silver both DOWN - 5/8/2012

[DEGuy]

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.

That's what I'm kinda curious about. All the PM physical dealers I've met buy and sell based off the market spot price. I guess if they can't get a hold of the physical metal in a currency crisis, then the price (in USD) would rise rapidly in that local market. Perhaps at that point, I would be able to sell the metal for a hefty profit in USD, in order to buy food/gas. But then there are capital gains taxes to pay. As someone else suggested, I would be better off investing in self-sustainment capabilities now, and only buying PMs after that.

 

[Noclone]

Stock up while you can...

 

[PaulStandsTall]

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?

Two words: Metal leasing.

 

[Wren]

Gold is at $1,577 as I type this. I'm trying to get as much as I can before the general election starts and this is the best opportunity to do so.

 

[ILUVRP]

i still think spot gold will get down to $1500/oz , as far as the election goes when it looks like obama is a lock , load the boat with gold , if mitt looks like a winner get out of gold.

 

[osan]

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

Two ways of saying the exact same thing.

 

[osan]

i still think spot gold will get down to $1500/oz , as far as the election goes when it looks like obama is a lock , load the boat with gold , if mitt looks like a winner get out of gold.

And if Dr. Ron wins?

 

[DEGuy]

i still think spot gold will get down to $1500/oz , as far as the election goes when it looks like obama is a lock , load the boat with gold , if mitt looks like a winner get out of gold.

Why do you think that? Is it because speculators might get out of gold if they think Mitt will handle the economy better? I suspect that the central bank will abuse their power to make the country appear to be economically healthy before the election, thus artifically driving the prices of PMs downward. Of course, the lower interest rates/free money will only cause more problems in the next year or so when there is less politcal motivation to cover it up.

 

[ILUVRP]

And if Dr. Ron wins?

wouldn't that be great .

 

[cubical]

i still think spot gold will get down to $1500/oz , as far as the election goes when it looks like obama is a lock , load the boat with gold , if mitt looks like a winner get out of gold.

What makes you think Mitt can stop the on coming train any better than Barry?

 

[down_south]

Don't forget about the recent election in France where the president elect wants to put a 75% tax on incomes over $1 million euros. Citizens there are looking to leave the country and because of the comments from this president elect, the business/investing community is looking to do business elsewhere (I read about a guy in France who is going to move his company to Singapore). This is what happened when Greece began having problems; investors looked to the US dollar as a safe haven (I know that sounds funny but they are not all RP supporters who are familiar with Austrian economics) and began moving their assets out of Greece.
Now that confidence in France is being questioned, the same thing is happening.

 

[Appalachia]

So you guys think it will get lower than this or is it probably good time to buy right now?

 

[juvanya]

BUY BUY BUY

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

pre1965 FTW

 

[juvanya]

So you guys think it will get lower than this or is it probably good time to buy right now?

Who cares if it will go lower? Do you want to get blown away when it shoots up? BUY BUY BUY PHYSICAL

 

[Brian4Liberty]

So you guys think it will get lower than this or is it probably good time to buy right now?

Good question. This is the time to set your buy points. How far do you think it could go down? Put in a buy/offer at that price. Buy a little now. Dollar cost average. We could have a bout of deflation, how low can it go relative to Federal Reserve Notes?

 

[down_south]

So you guys think it will get lower than this or is it probably good time to buy right now?

I think it will go a little lower but it's still a good time to buy.

 

[xFiFtyOnE]

So you guys think it will get lower than this or is it probably good time to buy right now?

$28 silver....you can't beat that with a stick!

 

[rpwi]

As late as 2009, silver was trading under 10 dollars an ounce...compared to ~30 now:

Gold in 2009 was ~800 and is ~1600 now.

This could be part of a big correction...

 

[xFiFtyOnE]

Starting to think we could hit $25 silver. Anybody know what's going on?

 

[ronpaulfollower999]

I've been waiting for $26 for the past couple weeks. Almost there!