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 Replies: 69 / Views: 6,308 |
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Pillar of the Community
United States
810 Posts |
I was gonna make a post the other day claiming I think gold and silver are in trouble. Whats weird is the next day it dropped. The reason I felt gold and silver were in trouble is because of the buyers of the precious metals. The market is literally getting flooded with people selling and its going to continue to be flooded for a while now. The buyers combined I would put almost in the category of the hunts bros. The reason I say this because there is numerous buyers of different companies. In the long run my prediction is dont be spending to much of silver and gold over the next few yrs till it settles at an amount. If you do buy gold and silver buy it cheap for the worse is yet to come. I feel gold might be more safe than silver for not much of that is being sold compared to silver. Silver is going to take the biggest hit and drop probably to 23 or under an ounce. I'm not buying any silver near value till it drops to 17-20 an ounce. Then I feel its safe to buy for I dont feel it would drop to much from there if it dropped more from there. I know most people would probably disagree with me as far as what I'm saying to caompare buyers to hunts bros. Hunts bros was one company and I know that but if you combine all the compaines that are buying the amount is getting pretty close to the mass of quanities that the hunts bros accumulated of the yrs when buying. Over the past few yrs pecious metal buyers has been coming to town and parking lots literally filled with sellers and they come once a month. People are being a little dumb for the matter they dont realize that in the future precious metals is whats gonna have the value instead of money of today.
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Pillar of the Community
 United States
810 Posts |
One other thing I forgot to mention is because of the drop people are going to be selling like crazy because they fear for the worse. So to people on here I would say hold onto your precious metals and dont sell. Ill admit I sold when it was 42 an ounce as far as silver goes and gold when it was 1800 some. I understand when people are selling because they need the money but those that dont need the money I strongly suggest to hold. Itll probably be anywhere from 10-20 yrs till things settle down a little as far as precious metals goes. But as far as money goes were screwed. In the future what we have as value is whats going to keep us afloat. The green paperback will mean nothing of any currencies in the future to come. So consider this as you been warned and numerous people probably say the same thing so (youve been warned).
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Valued Member
United States
223 Posts |
I think silver is moving sideways at the bottom and is going to move up slowly. Personnally, I want it to go below $30 so I can buy a bit cheaper. As it is now, I am buying a couple hundred per week for as close to spot as I can get it.
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Bedrock of the Community
Australia
21788 Posts |
Silver is going to be a longer term proposition for at least a year or so.
Gold? That depends on the Euro's health.
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Pillar of the Community
Japan
666 Posts |
I am buying and I will be buying as soon as I have spare paper money. I don't care about the price - Oz' that is matter!
As of lots of sellers ....
In Japan: silver bullion + 30-40% to spot. Gold +15-20% to spot. Yes, for sure, lots of sellers want to sell at these prices ... and lots of buyers buy the bullion. Buyers being more than sellers (that's why the price is so high).
I don't know what to think about price movement because the market is being run by central banks - and only GOD knows what they up to next week, next months, leave alone next year. The thing I know is they print like crazy!
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Pillar of the Community
United States
810 Posts |
I guess my problem is alot of people look as if the worse already passed with the economy and all. Its just beginning and its goning to get alot worse. Yes gold and silver is a very good investment for the future to come but I just personally think its better to try to get the precious metals as cheap as possible to prepare for the future to come. Then again money isn't going to matter much in future but gold and silver will so maybe it is a good idea to stock up on gold and silver no matter the price. I buy most of my gold and silver at garage sales estate sales and so on where I can get what you call steals if you would say. I guess I just dont want to spend money on spot where prices are now but where I think prices will be is what I'm willing to spend.
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Valued Member
United States
385 Posts |
Got some tips for you guys, don't buy gold/silver with the intent or sole purpose to just hump it in bed.
Seriously, silver was worth only $4 an ounce back in 00', it was even regarded as an industrial metal, so we know it's quite volatile.
Now, it's around $31 an ounce which seems to be quite a large percentage return. Now, I highly doubt that silver is going to even hit $60 in the end of this year or next year.
In simpler words, I'm going to say that no, silver ain't gunna "go up" just for me to make a quick profit in a jiffy...
Investing in precious metals takes time, and you can't let small changes such as a dollar or two dollar influence your decisions. If such changes hurt you, then I recommend hoarding copper pennies because it is much more cost efficient and it's a very important metal.
We wouldn't want our nation to collapse due to the dollar collapsing, right? When silver and gold starts blasting, we need to get ready for survival, such situations could quickly grow ugly.
But anyways, take 10% of your left over income or play money and invest in silver or copper pennies.
If you're uncertain about the future of precious metals prices, I suggest that you go with GOLD :D
Anyways, good luck y'all...
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Pillar of the Community
United States
1454 Posts |
Your message seems a bit contradictory, OP. Anyone who can predict the market closely enough to call a correction of this magnitude would need insider-type sources, IMHO. Care to share the science behind your theory? Regardless, thanks for the warning.
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Pillar of the Community
United States
4008 Posts |
Whether or not there is a lot of selling might just depend upon where you are looking. Two of the three coin shops I frequent are telling me that "nobody is selling", so their inventory of "junk" silver is minimal. I did snivel one of my shops into selling me a few XF early 1950s Franklins for very close to the spot price but other than that the pickings are slim around here. May be different elsewhere, though.
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Pillar of the Community
United States
810 Posts |
Ive been studying the silver and gold everywhere. There are way to many sellers compared to buyers. But the buyers the few they are are massing large quanities of precious metals. Despite there are few sellers in your area but the overall is to many sellers. Everytime theres a gold rush like there is now we get slammed on the value because they are flooding the market. The last time we had a gold rush like this was in the 70s early 80s and look what happened. One thing I dont understand though is how gold can have such a high value over silver when gold can be found all over where silver cant. I personally believe there is more gold than silver out there. As far as copper goes yes it should be more valuable but because of the many uses for it it will remain on the cheaper side. The only reason gold and silver are so high because of the uses getting smaller and smaller. In the future there wont be much use for gold and silver at all but just considered a precious metal. Like I said before gold and silver are a good investment to prepare for the worse but it will be a long while till the prices spike back up. Money is nothing but the contents it contains. I wont be surprised if they stopped making cents in America in the next 5 yrs like they did in Canada. Steel has so little value because of the numerous uses for it. When I say preparing for the worse its almost like them movies Waterworld, Mad Max, etc..... but not that extreme. And believe that it will eventually get to that point but like I said not as extreme though.
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Pillar of the Community
United States
4333 Posts |
Contradictory post indeed. Where on earth are you getting your info? It's almost like taking a step back into 1980.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
808 Posts |
I don't get it. Today's global economic troubles have created a world wide demand for gold and silver that is driven by the hard realities of gross fiscal mismanagement and reckless monetary policy. We're not talking 80's style speculators cornering markets here or oil shocks driving up inflation rates. Also, while the tiny percentage of North Americans investing in PMs does represent a limited market, there's always Asia waiting to soak up excess supply.
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Pillar of the Community
United States
1454 Posts |
 This sort of doomsday message can be found on fringe gold bug newsletters and blogs across the internet. I've read my share over the years and their PM prophecies have yet to be realized. I believe the OP bought into one of these spurious sources. Mostly just big distributors, or someone or some group, who's trying to short the market, in this case. |
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Pillar of the Community
United States
810 Posts |
I dont really care about prophecies people post in past or are talking about now. I guess most of my assumption is based on a gut feeling. I admit I dont have that much facts to back up my assumption for its been said numerous times over the years. Yes its true what I say might not happen at all. We all have different beliefs on what silver and gold will do. Some people think they will go up some think will drop a little and some alot. One thing I dont understand why is there such a high demand over in Asia for precious metals? What are they making that demands so much or is it a hoard? This is just a debative issue as far as PM does and really want to know what you all think and where it stands on the future.
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Pillar of the Community
United States
808 Posts |
Double Mint, we're all in the same boat. I say trust your gut.
The demand for PMs in Asia is understandable; it boils down to uncertainty. Inflation? Deflation? PM's can perform well in both situations. China's real estate bubble is near bursting. Some say Japan is printing Yen as fast as the Fed prints dollars. Next, factor in troubling regional security issues like North Korea and increasingly heated disputes over the potentially oil rich Spratly Islands in the South China Sea. Oh, and don't forget that economic trouble in North America and Europe *will* mean a further slow down in the region's industrial output due to falling global demand. When you put it all together, there are lots of valid reasons for Asia's flight to gold and silver.
Edited by coinwatch
04/23/2012 01:58 am
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Pillar of the Community
United States
3670 Posts |
You mentioned Mad Max one of my favs, lol. The Road warrior 1981. I always thought the idea an concept was WAY ahead of its time summed up well in the opening lines here below. But much of this fiction below could one day come to pass in similar fashion I figure....
Narrator: "My life fades. The vision dims. All that remains are memories. I remember a time of chaos. Ruined dreams. This wasted land. But most of all, I remember The Road Warrior. The man we called "Max". To understand who he was, you have to go back to another time. When the world was powered by the black fuel. And the desert sprouted great cities of pipe and steel. Gone now, swept away. For reasons long forgotten, two mighty warrior tribes went to war and touched off a blaze which engulfed them all. Without fuel, they were nothing. They built a house of straw. The thundering machines sputtered and stopped. Their leaders talked and talked and talked. But nothing could stem the avalanche. Their world crumbled. The cities exploded. A whirlwind of looting, a firestorm of fear. Men began to feed on men. On the roads it was a white line nightmare. Only those mobile enough to scavenge, brutal enough to pillage would survive. The gangs took over the highways, ready to wage war for a tank of juice. And in this maelstrom of decay, ordinary men were battered and smashed. Men like Max. The warrior Max. In the roar of an engine, he lost everything. And became a shell of a man, a burnt out, desolate man, a man haunted by the demons of his past, a man who wandered out into the wasteland. And it was here, in this blighted place, that he learned to live again..."
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Replies: 69 / Views: 6,308 |
Posted 04/21/2012 8:43 pm
