golds at 945

[cien750hp]

now might be a good time to pick some up. silvers under 19

why the sudden tank today? it went down by like 20 yesterday and 45 today
i dont understand why the rate cut made prices go down, i thought it would be the opposite.

sorry for not posting this in economics and sound money forum but this could be helpful to alot of people

 

[Shink]

now might be a good time to pick some up. silvers under 19

why the sudden tank today? it went down by like 20 yesterday and 45 today
i dont understand why the rate cut made prices go down, i thought it would be the opposite.

sorry for not posting this in economics and sound money forum but this could be helpful to alot of people

I'm sure the government continues to dump it in the market. That gold and silver are real money that everyone in the know wants is not news certain forces want to see. Keep the price down artificially, and sheeple won't catch wind. I don't mind it too much, personally, just for the fact that I have yet to buy any, and if they want to give me time to buy some at a lower price, it's their loss. They're just giving more people a chance to get into real money before it shoots past 1500 bucks.

 

[ItsTime]

I have heard it will go down for 2 or 3 days then expect it to go back up. I am holding off on buying more until i see an upward trend in the AM.

 

[micahnelson]

Not everything is a conspiracy. People wanted to participate in the rally so those who clung to gold may have gone in on the VISA ipo or other related adventures during Bernake's Cash Orgy. Expect this to last for a short term rally. I think we might be up for the week. If this does start the economy a roarin' it might have long term impact. If the economy stays where it is, then this new Ace in the whole that Benny created will do nothing but flood an already dollar saturated market.

Notice the US response to China's invasion of tibet? They have us over the fire and they know it. What are we going to say to them. We'll see how it goes. Hopefully this will buy us enough time for stable elections.

I wouldn't sell my metals though. Remember, these are inflationary hedges, if you want to invest buy food, shelter, clothing and the means to obtain it. This can apply to stocks as well.

 

[seapilot]

Dips like these havent been lasting long and silver and gold needed to correct some before the next wave upward. Lots of people have been waiting for this dip to get in. Dont wait too long , might miss the train.

 

[eric_cartman]

my parents own gold, and they sold it off in a panic today, and i'm sure many others did the same... so you get a lot of people selling and then the price goes down. (i tried to convince them not to sell, considering they bought it at $900... i bought a few ounces this summer at $660, so i couldn't care less if it goes down a bit, because i know it will be back up again).

but the reason i think it went down so much is because the Fed only cut rates by .75 instead of 1. everyone was expecting a full percent, so extra inflation was priced into the market, so the gold price was a bit too high. also, gold has had a huge run up until now.

but that's what bull markets do, they go up and have sharp pull backs... nothing really out of the ordinary. the pull backs scare people out, because bull markets like to take as few people along for the ride as possible. so ya... if you're looking to get into the market, this is a good time. maybe it could fall a bit lower over the next few days or weeks... but who knows... this is still a pretty good price to be buying at in my opinion... i was surprised at how much it fell already, so i don't think it can go too much lower.

a lot of people were also calling the top of gold at $1000, and maybe think that the stock market is at a bottom... so maybe they were selling their gold to get into the market... those people are gonna get screwed eventually.

 

[Give me liberty]

They sold there gold? over the panic, rolf

Maybe they should be thinking twice about god dam freaking dollar

Its falling down and down.

 

[seapilot]

my parents own gold, and they sold it off in a panic today, and i'm sure many others did the same... so you get a lot of people selling and then the price goes down. (i tried to convince them not to sell, considering they bought it at $900... i bought a few ounces this summer at $660, so i couldn't care less if it goes down a bit, because i know it will be back up again).

but the reason i think it went down so much is because the Fed only cut rates by .75 instead of 1. everyone was expecting a full percent, so extra inflation was priced into the market, so the gold price was a bit too high. also, gold has had a huge run up until now.

but that's what bull markets do, they go up and have sharp pull backs... nothing really out of the ordinary. the pull backs scare people out, because bull markets like to take as few people along for the ride as possible. so ya... if you're looking to get into the market, this is a good time. maybe it could fall a bit lower over the next few days or weeks... but who knows... this is still a pretty good price to be buying at in my opinion... i was surprised at how much it fell already, so i don't think it can go too much lower.

a lot of people were also calling the top of gold at $1000, and maybe think that the stock market is at a bottom... so maybe they were selling their gold to get into the market... those people are gonna get screwed eventually.

Sounds like your parents had weak hands. Too bad you couldnt have talked them out of it.

 

[voytechs]

I think a lot of people are thinking same thing. Apmex is crashed.... can't get on. LOL!

 

[JeffersonThomas]

would silver or gold be better to buy? also, I know a place in my town that sells silver (not stock in silver)... Is it legal to sell or own gold? Sorry I'm a total newb to this metal buying stuff

 

[JeffersonThomas]

anyone? come on, help a fellow revolutionay out please

 

[cien750hp]

would silver or gold be better to buy? also, I know a place in my town that sells silver (not stock in silver)... Is it legal to sell or own gold? Sorry I'm a total newb to this metal buying stuff

gold is completely legal to own. it has been legal since early 70's, i believe.
Gold is the best bet, since it is the most universal and will always be. Silver has potential to make profit but also comes with more risks to lose money.

 

[alaric]

anyone? come on, help a fellow revolutionay out please

gold BULLION MAY get confiscated. pre 1934 American gold probably won't and neither will silver. So buy old gold and silver.

 

[Yom]

my parents own gold, and they sold it off in a panic today, and i'm sure many others did the same... so you get a lot of people selling and then the price goes down. (i tried to convince them not to sell, considering they bought it at $900... i bought a few ounces this summer at $660, so i couldn't care less if it goes down a bit, because i know it will be back up again).

but the reason i think it went down so much is because the Fed only cut rates by .75 instead of 1. everyone was expecting a full percent, so extra inflation was priced into the market, so the gold price was a bit too high. also, gold has had a huge run up until now.

but that's what bull markets do, they go up and have sharp pull backs... nothing really out of the ordinary. the pull backs scare people out, because bull markets like to take as few people along for the ride as possible. so ya... if you're looking to get into the market, this is a good time. maybe it could fall a bit lower over the next few days or weeks... but who knows... this is still a pretty good price to be buying at in my opinion... i was surprised at how much it fell already, so i don't think it can go too much lower.

a lot of people were also calling the top of gold at $1000, and maybe think that the stock market is at a bottom... so maybe they were selling their gold to get into the market... those people are gonna get screwed eventually.

You should have bought it from your parents if you couldn't convince them to hold onto it.

 

[RonPaulCentral]

gold BULLION MAY get confiscated. pre 1934 American gold probably won't and neither will silver. So buy old gold and silver.

Hey *ALL* our gold is pre 1934.... Matter of fact it has been around for a LONG time.

LOL

 

[Mani]

gold is completely legal to own. it has been legal since early 70's, i believe.
Gold is the best bet, since it is the most universal and will always be. Silver has potential to make profit but also comes with more risks to lose money.

IMO I think Silver is less risky. It's more of a slow and stable metal and it's not tied to currency.

Gold is tied to currency and oil, so when the currency is tanking Gold is rising, when the currency is recovering gold is sinking. While you can never go wrong with Gold, meaning unlike a fiat paper note, Gold will always have value, there is risk to how much value depending on currencies.

Silver is now being used for industrial purposes. It is no longer only used as a precious metal for trading value. Silver is being used with medical equipment and other technologies. Therefore, the demand for silver will only go up, because of it's precious metal value AND for it's need in industry.

I also think Gold could probably double over the next 2-3 years, so I don't think you're buying too high right now, but like any bubble it'll go down if it finally peaks at $2,000 (speculation on my part).
I don't think you can go wrong with either one. Right now I have silver and I plan on getting Gold as well, but I'll probably own value wise 2:1 silver to gold, that's just me.

 

[StilesBC]

Judging from the charts, Gold has initial support at the 50day EMA around $932. If it gets through that, I'd suspect it would want to test it's 50wk EMA around $810.

As I've mentioned before, the current economic conditions are telling me that deflation is more likely than any hyperinflation occuring. The initial deleveraging in such an environment would be bad for even Gold. But the ensuing run on the banks would make it obvious that holding electronic dollars in a savings account is too risky. The banking system is leveraged 10:1 meaning that if 1 in 10 people asked their banks for the money in their savings accounts, there would subsequently be no physical dollars left. Gold and Silver will be the logical choice for those smart enough to get their savings out first and will outperform physical dollars or any other currency by a wide margin.

When does this happen? I have no idea. It could be next week or next year. But the financial system is imploding at an accellerating rate and equity markets are unable to sustain any sort of a rally (we've recently had the two largest up days in 5 years yet are still near the January lows).

Moral of the story - don't sell. The reasons for owning gold are the same. But expect gold and silver to take a bit of a breather also.

 

[GoPaul08]

Yeah...it is always a good idea to buy something when it is starting to go DOWN! Pick up some Google while you are at it!

 

[koob]

would silver or gold be better to buy? also, I know a place in my town that sells silver (not stock in silver)... Is it legal to sell or own gold? Sorry I'm a total newb to this metal buying stuff

YES! Of course it's legal! You can by precious metals such as gold and silver and have it shipped to you at: www.apmex.com it's what a lot of people here seem to use.

 

[american.swan]

I personally don't worry about the gold price. It is bound to go up faster then stocks over time.

With the FED and IMF and WTO all dumping gold to keep the price down, or are they? They don't have much gold left.

This drop only scares me because I have friends who are investing in Gold because of my opinion. They might turn tail and run out and sell too because they don't understand the market and what is happening.