What the hell is happening to gold and silver?

[smokemonsc]

Haha I agree with you! But in most peoples 401ks and investment accounts they are limited to the financial world, which 100% exposure to PM instruments and Miners has worked out better than anything else.

I think land and real things like tools, livestock, fishing gear etc etc is best use of $$$

I think we probably agree - but you should elaborate on what you mean by diversification. Is it bad to own two (profitable) businesses in different sectors?

 

[-C-]

Supply and demand. Paper derivatives have skewed the availability of everything on the entire planet

fixed for you

 

[NewRightLibertarian]

Great time to buy silver!

 

[devil21]

The one catch to all this is that we have to figure out how to convert the metals we stack into the new currency that is inevitably coming. That's the only real concern I have as a metals bug.

 

[A Son of Liberty]

Any doubts about whether metals are a bubble were dispelled today. I went into my local coin shop this afternoon with a few shreds of Fed scrip to BTFD on one of the biggest downward days in quite some time. While I was there - about 20 minutes or so - 3 sheeple came in to sell jewelry, and one called asking the shopkeeper if they bought jewelry. I made the comment to him that I coincidentally had never happened to be in the store when anyone sold him metals, and I thought it was strange that I saw 3 people do it on such a day as today. One of these folks overheard us and asked, "oh, did the price of gold change today?" No, honey. It's the same price everyday. There's some lovely grass over there for you to graze. Enjoy.

I left resolved to buy buy buy buy buy!

 

[Lovecraftian4Paul]

Wonderful buying opportunity this week. I wouldn't mind a repeat of the deep drops of 2008. Let the silver and gold rushes ease up a bit so that everyone who knows where this stuff is going in the long run can buy in bulk.

 

[devil21]

I added a very pretty 10oz APMEX round to the stash today. I gotta rebuild a little after selling some of my physical to RPF members last month!

 

[WilliamC]

I love Ron Paul and the freedom movement -- but you guys (a lot of them on here) who thought gold and silver were going to shoot up forever and ever, and who put most or all of your savings into them are as delusional as the people who thought housing prices would go up until the end of time.

You're right, no investment goes up in a straight line.

If you can't buy gold/silver and be happy if the price drops the next day then it's not for you.

Me, I just see another buying opportunity.

It'll go back up, either in this currency or another.

 

[Jeez]

http://www.kitco.com/kitco-gold-index.html

I don't buy the industrial argument. If that were the case, palladium would be getting obliterated. It's no where near that. Palladium is essentially all about industry. If silvers sell off was due to weak economic numbers and industry selling off, palladium would be just as bad, if not worse.

All about speculation palladium prices haven' t come under as much influence as silver. If you are reading the forecasts and sitting on silver which you had bought under 20 won' t you take profit and sell while you can.

 

[TCE]

The one catch to all this is that we have to figure out how to convert the metals we stack into the new currency that is inevitably coming. That's the only real concern I have as a metals bug.

In the interim, we'll probably use Canadian Dollars. In Zimbabwe they simply went off their currency and used currencies from other countries. If you're that uncertain, simply sell off all your PM's then into Canadian Dollars or whatever else we use in the short-term as they'll likely be transferable to whatever the new currency is.

 

[Seraphim]

No no, a fall of the USD is a fall of ALL GLOBAL FIAT CURRENCIES.

They are ALL pegged to the USD. Hyperinflation of the USD = hyperinflation of the world.

I'm Canadian - If the USD goes down, my CAD won't be worth shit either.

In the interim, we'll probably use Canadian Dollars. In Zimbabwe they simply went off their currency and used currencies from other countries. If you're that uncertain, simply sell off all your PM's then into Canadian Dollars or whatever else we use in the short-term as they'll likely be transferable to whatever the new currency is.

 

[Seraphim]

Dude, please check your facts before you try to school me on PM's.

Palladium OUTPERFORMED SILVER. Read that again. PALLADIUM HAS OUTPERFORMED SILVER.

5 year time frame.

So the idea that silver had more speculators or was driven higher compared to palladium is false - their performance has been nearly neck and neck, but palladium holds the edge.

Again, the premise that silvers "sell off" is by industry is speculation and not backed by anything empirical or factual.

All about speculation palladium prices haven' t come under as much influence as silver. If you are reading the forecasts and sitting on silver which you had bought under 20 won' t you take profit and sell while you can.

 

[GunnyFreedom]

spot price doesn't usually hang at 18:00 like it is that I can recall. What the hell is going on in Asia? Kitco live stops at 18:00

 

[jct74]

spot price doesn't usually hang at 18:00 like it is that I can recall. What the hell is going on in Asia? Kitco live stops at 18:00

 

[jct74]

no trading during the weekends in case I didn't make that clear, resumes Sunday at 6

 

[TCE]

No no, a fall of the USD is a fall of ALL GLOBAL FIAT CURRENCIES.

They are ALL pegged to the USD. Hyperinflation of the USD = hyperinflation of the world.

I'm Canadian - If the USD goes down, my CAD won't be worth shit either.

So what you're trying to tell me is that if the USD hyperinflates, the heads of other nations are going to throw their hands up and say, "yep, our dollar is screwed, too." They'll peg it to something else and they'll all be fine after a bit of volatility. Also consider that there will likely be signs if our dollar is going to hyperinflate. There will be a bit of time to un-peg currencies.

 

[TCE]

no trading during the weekends in case I didn't make that clear, resumes Sunday at 6

Ah, okay. I thought you were trying to turn us all on to Rebecca Black.

 

[pmbug]

Oh hai!

http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins

 

[GunnyFreedom]

no trading during the weekends in case I didn't make that clear, resumes Sunday at 6

Humpf. I wouldn't think Hong Kong would give in to such labor innovations as weekends lol

 

[devil21]

So more big margin hikes that forced position liquidation and some got advance insider warning and front-ran the news. That's about the gist here. Yep more paper games. Where's the SEC and CFTC????? (looking at pr0n)