Silver has dipped into the $15.00s, Gold into the $1160s... where is the bottom?

[oyarde]

Did digital cameras not exist 3 years ago when silver was nearly $50?

It's like when people say oil is going down because of fuel efficient cars....really?? So in the past 3 months when oil has gone from $100 to $75, it was due to the market just figuring out fuel efficient cars exist?

Nah, assets go up and down in price radically. As Jim Rogers said, it is not unusual for markets to go down 50% from their all-time highs. All time high for gold was $1920s...so, if gold goes to $1000/oz, that may be the bottom.

I am not buying cameras or cars , but I still like gold .

 

[oyarde]

Silver is @ $16.04 , gold @ $ 1172 . We will see where they are at the end of 2015 .

 

[Dforkus]

Silver is @ $16.04 , gold @ $ 1172 . We will see where they are at the end of 2015 .

post election update: silver is down another 4.5% today, almost a full dollar an ounce.

 

[ILUVRP]

post election update: silver is down another 4.5% today, almost a full dollar an ounce.

i have watched gold/silver prices and elections for over 50 yrs , every time dems take over gold and silver jump up , when repub's take over gold and silver go in the can . everyone thinks with the dems there will be inflation and little inflation with the repub's so they move the metals.

it don't last long , 1050 better hold or the gold mkt is in big trouble .

 

[Deborah K]

I don't know where silver or gold will go - but has anyone actually tried to use the stuff as money? I have and no one will take it at "spot" value (they will certainly at face value). The exception was a carpenter who wanted a few eagles plus some cash. The point being: what can this be used for except as SHTF insurance? If everything collapses - food and necessities will be 100x more valuable.

Don't get me wrong - I own some - but in the end... who is going to take it?

If (when) there is a crash in fiat currency, bartering won't work in all circumstances. Gold and silver have been the standard for hard money for millennia. Gold for wealth protection, silver for trading those essentials that you can't barter for.

 

[DFF]

Gold has broken it's long term uptrend line starting in 2005...it's very likely headed for a test of $1000.

If $1000 doesn't hold, then the next stop would be around $800.

 

[ILUVRP]

gold loves even numbers , broke 1200 , then 1000 , then 800 .

 

[DFF]

Looking at my charts, there's nothing but air from here down to about $1024. So at a minimum, were probably gonna shed another $100.

I'm a mega-gold bull, but I can't deny that what I'm seeing is uber-bearish.

So much so, that I got short gold for the first time in a long time.