What the hell is happening to gold and silver?
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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.
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.
With Silver even a plunge below 20 is very likely once again it is an industrial metal. Ironic i was betting on silver hitting 25 by mid October and i think my prediction was too bullish.
cthulhufan
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Yep, they made their money off of me today with a whopping 3.99 over spot. It's only a pound so it's not that huge and I know they will deliver it to me. In my mind it's a small price to pay for PRESERVING my wealth but at the same time I shouldn't let them steam roll me like that just to make a fast buck. I saw the RPMs hit the red and realized it was time to pull the trigger and did so without checking around. I need to improve on that.
Edit: Errm, two pounds but whatever...
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4 dollar premium is the market premium - the dealers get charged that premium as well. They do not make their money off the premium. They make their money off the spread. Usually about 50 cents an ounce (silver).
Someone has to be making that money. It was $3.19 above spot a week or so ago and $3.49 earlier today and then it got upped to $3.69 and now $3.99. A couple of the places in the other thread on the front page of the Econ forum had lower over spot prices.
cthulhufan
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Karsten
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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.
Karsten
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With Tulving's $.50 sale until the end of September, I believe their ASEs are $2.29 over spot with free shipping. They also have Canadian Maples for $1.99 over spot, free shipping. Monsters only.
It is indeed time to load up. My patience has been rewarded. I'm gonna buy enough to build a house out of.
To the industrial argument:
Sept 2008 crisis, ASE = $11 = BUY
April 2011, ASE = $50 = SELL
May 2011, ASE = $35 = BUY
Sept 2011, ASE = $40 = SELL
Today, ASE = $30 = BUY
September 2008 1,000 coin purchase is now 2,000 coins with only original cash outlay. $11,000 now worth $60,000.
Stop reading articles and offering lame advice to those who have multiplied their 2008 crash cash by a 5 for a 1, unless you know of an investment that did better in this pretend economy of pussy paper and bullshit.
I'm just sayin'... delusional is good
Bosso
It is indeed time to load up. My patience has been rewarded. I'm gonna buy enough to build a house out of.
To the industrial argument:
Sept 2008 crisis, ASE = $11 = BUY
April 2011, ASE = $50 = SELL
May 2011, ASE = $35 = BUY
Sept 2011, ASE = $40 = SELL
Today, ASE = $30 = BUY
September 2008 1,000 coin purchase is now 2,000 coins with only original cash outlay. $11,000 now worth $60,000.
Stop reading articles and offering lame advice to those who have multiplied their 2008 crash cash by a 5 for a 1, unless you know of an investment that did better in this pretend economy of pussy paper and bullshit.
I'm just sayin'... delusional is good
Bosso
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I think a lot of those same people knew this was going to happen.
Uh...what? It obviously was never going to go up forever. None of us were planning on using PM's as a get rich quick scheme, although some did. It was/is a safe heaven for wealth protection. I have confidence that in five years I'll come out ahead. Was not planning on moving my PM's until 2013 minimally. You are correct that anyone who put their entire savings portfolio in gold/silver was asking for trouble, but that can be said about any investment. Today isn't the end of PM's by any stretch.
Supply and demand. Paper derivatives have skewed the availablility of the metal.
Again, bullion dealers do not make profits on the premium - they do on the spread based on SPOT. The dealers pay the same premium you do for the phyiscal metal.
Again, bullion dealers do not make profits on the premium - they do on the spread based on SPOT. The dealers pay the same premium you do for the phyiscal metal.
cthulhufan
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It's about owning things with intrinsic value. Guns, bullets, food, seed, metal, land etc; these are things with intrinsic value, FRN is not. If it was about making money, this board would be more properly titled Las Vegas Slots. Don't put all your eggs in one basket and so on. I feel sorry for the poor sod that puts all of their wealth into any single place and expects to come out on top.
I disagree, those who put 100% of their investment account in PMs at $12 OZ Ag and <1000$ Au were genius.
Diversification is a scheme of the banksters. "Here you need to exposure to these funds, here are 10 different to pick from"
(100% of which hold Fannie or GM debt) It's true!
Diversification is a scheme of the banksters. "Here you need to exposure to these funds, here are 10 different to pick from"
(100% of which hold Fannie or GM debt) It's true!
cthulhufan
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Were stocks bonds and treasuries on my list of items to diversify in? NO! *grin* I agree with you and disagree with you at the same time, how's that?
hazek
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Certainly if you only look at the price it would appear you are right and we were irrational.
But when you look closer you'll notice there's a huge amount of manipulation going on which is nothing but a bullish sign for the long haul:
http://www.zerohedge.com/news/case-closed-cme-hikes-gold-silver-copper-margins
LoL
Um, the "bubble" has not burst. I am quite fine and happy with silver's endgame. I cannot predict how it will move in the next few months, but I can predict how it will move in the next few years. So I bought more today, of course.
And there is more to owning physical silver than short term investment and easy liquidation. I'd trade on the stock market again if I wanted that. Owning silver is a punch at the banks, and it is always nice to go to a coin or comic shop, and see people buying silver and gold (and they ALWAYS are when I go). Buying silver to me is buying a currency that cannot be manipulated by central bankers, like most today are.
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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 $$$
Who here said metals prices would go up forever and ever? We've already seen that like any market there are fluctuations, and the metals market is so susceptible to manipulation that raids like this are going to happen occasionally and should be viewed as a buying opportunity. I guess you haven't looked at any metals charts lately. Expect a BIG leg up to occur in a week or two. It always happens after a big leg down like this one. The bubble here isn't metals. It's dollars.
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