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 Replies: 5,649 / Views: 461,591 |
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Pillar of the Community
 United States
3789 Posts |
@domain555
yea the downside, very fast. You can just see on the tape the panic, the hurry to get out. Almost like a "get me out at what ever price"... and then it feeds on itself...
before you know it, price is slicing all sorts of levels. I know several guys that have already wrapped up their year on a few of these gold trades when prices broke down this year.
in fear,,, everyone wants out immediately, at whatever price, so prices drop hard. When everyone wants to buy and are looking for higher prices, they hold and hold and hold...and the price slowly grinds up...
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Valued Member
Australia
491 Posts |
Hi yup!
Thanks heaps! I have a question.
I am an Aussie and with all the comments I have to pencil in the strength of our $ V US$.
I noticed that when our interest rates were cut the value of our $ dropped as well. So will our $ become stronger if our interest rates go up? Or is it another price action chart decision?
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Valued Member
United States
299 Posts |
So
What to do with the statement Greenspan just made that Gold is a good way to store your money?
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Pillar of the Community
United States
4333 Posts |
And, if everyone is rushing to get out, why is the US mint having records sales for October?
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
4870 Posts |
Just woke up to $15.99/oz silver...oh my goodness! What is going on?
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Valued Member
United States
174 Posts |
" Just woke up to $15.99/oz silver...oh my goodness! What is going on?"
The sky is falling!
Time for me to turn up the "buy" (at least when premiums drop in line with price).
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Pillar of the Community
United States
3789 Posts |
as we had talked yesterday, prices were to to drop.
with gold hitting fresh yearly lows, expect more lows to follow. Today is not a day to buy but again, its not my money.
Silver also continues to break down, with the sellers following through.
If you decide to dip buy here, be careful.. because lower prices are coming still.
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Valued Member
United States
86 Posts |
Thanks to everyone in this thread for the civil discourse. I love reading such thoughtful insite and opinions.
I am planning to buy some hobby silver, especially in the $16s!
Because:
- it's not an investment
- I've been holding off since the high $20's and low $30's
- there are a lot of silver coins I'm interested in
I'm dying to buy a gold coin but don't have the fun money. I'm hoping to see <$800 gold, then it might be attainable.
Edited by devilsbite
10/31/2014 10:35 am
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Pillar of the Community
United States
5928 Posts |
Quote:
I am planning to buy some hobby silver, especially in the $16s! I'm also interested in buying something other than pure bullion, but it may take awhile for the premiums to come down to reflect the current price drop. Even something like a role of BU Franklin half dollars would be nice, but I'm not about to pay $13 a coin when silver is at $16 per ounce... |
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Valued Member
United States
86 Posts |
I hear that about premiums. I'm hoping to hit an LCS that has traditionally had common silver dollars for melt. If I could score a few Peace dollars for close to melt I'd be happy! Commems on the other hand seem to still carry a good premium. Hoping to buy on the fringes where I can. |
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Pillar of the Community
United States
1804 Posts |
barryg Quote:I'm also interested in buying something other than pure bullion, but it may take awhile for the premiums to come down to reflect the current price drop. Even something like a role of BU Franklin half dollars would be nice, but I'm not about to pay $13 a coin when silver is at $16 per ounce...  |
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Pillar of the Community
United States
3789 Posts |
@kg5
yes generally thats how it works... higher interest rates, push a currency higher, or expectations of it.
In the case of the AUD, its in a downtrend right now, best guess is market is pricing in the rate cuts and expects more rate cuts into the future as it stands right now.
Keep in mind correlations come and go. For now, tho, the market is looking at a much lower aussie dollar.
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Pillar of the Community
United States
1590 Posts |
Just to reinforce what Yup has said; today is not the day to buy. This, though is from a dealers perspective. I, and my fellows in the trade, will be BUYING at the new lower prices, but we will be selling at the old prices for a bit till we are sure that the prices are not going up again. As well as to not sell at a loss. However; when premiums fall are up to the individual dealer. Mine will probably last a week; till the knee jerk buying dies. Some wait and wait and wait; hoping for higher prices(Or until they go out of business because their prices are so out of line with reality).
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Pillar of the Community
United States
1804 Posts |
jmkendell. Quote:
Just to reinforce what Yup has said; today is not the day to buy. This, though is from a dealers perspective. I, and my fellows in the trade, will be BUYING at the new lower prices, but we will be selling at the old prices for a bit till we are sure that the prices are not going up again. As well as to not sell at a loss. However; when premiums fall are up to the individual dealer. Mine will probably last a week; till the knee jerk buying dies. Some wait and wait and wait; hoping for higher prices(Or until they go out of business because their prices are so out of line with reality). If my question is unwanted, please just ignore me. Do you (or your fellow dealers) hedge your inventory with futures? Silver has a small 1,000 oz contract. And of course the 5,000 oz contract I do not know if you can still get the KILO contract in gold. Forgot the math, but a KILO is (APPROX) a third the size of the 100 oz gold contract. With a successful SHORT HEDGE in place your inventory is in line with currant price reality. |
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Pillar of the Community
United States
4992 Posts |
Funny how people were cutting in line to load up on Silver when it was $40+ per ounce. At $16.50, no takers.
Gents, it doesn't matter what "cycle" we are in or what the current "trend" is - $16.50 is a vastly better deal, for the long term investor, than $40 was. Buy silver based on where you think it will be in 15 years not where it trades today or may trade (literally) tomorrow.
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Replies: 5,649 / Views: 461,591 |
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Posted 10/30/2014 8:25 pm
