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 Replies: 5,649 / Views: 461,459 |
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Pillar of the Community
United States
1590 Posts |
Yup has a nice track record, and while I listen with interest to all he says; I do disagree with the market being driven by supply and demand. Those days are over. Well; at least in a pure sense. What I mean is, that if something were truly rare and the demand much great than the supply, then yes it comes into play.
But look at the recent statement by ex Shell CEO Harrison, he was pushing for the Canadian pipeline recently in an interview. And when asked if it would bring down the price of Gas at the pump, he said "NO". Why? Because he says it is a "global" price. Yes, the US and Canada will have a glut of Oil and be self sufficient, but the money is in keeping prices up and selling it overseas. If it were a true global price then it would be like Gold and Silver. Set by a Market each day, and traded on that basis everywhere, including the pump. As it is gas is between $3-$4/ gal regardless if the barrel price is $140/bbl or $80/bbl. So no, it is NOT a global price. It is NOT supply and demand driven, it is greed driven. NO more and no less. Personally I think we will some some price adjustments when the Fed pulls the Big Banks out of Commodities. That should really be interesting. Night all!
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Pillar of the Community
United States
687 Posts |
Contrary to my previous post in regards to price elasticity of scarce/rare coins vs. the price of gold. Some nice deals are showing up. Folks are selling.
I am picking up good foreign pieces 30% off trends.
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Valued Member
United States
380 Posts |
Hmmm. Looks like Gold is still on the rise, since the last time it actually was rising, And I just stated a fact. I wasn't lying, just stating a fact of the market charts. And it is still on the rise. It could go down tomorrow. I do love the Gold. I don't think it is a crime to have a different opinion. We are, for now still living in a free country. So. Rise Gold Rise. Although I have enjoyed all the cheap Gold buys in the last month.
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Bedrock of the Community
13014 Posts |
Youre stating a very disengenious fact saying its rising. Its up like 20 dollars since the first of the year. You leave out the part of it being down about 500 dollars in the last year. A short small gain doesn't undo that type of consistent down fall it endured for 6 months last year.
Its not a crime to have a different opinion, if you said I think gold will be on the rise soon I have no issues with that. Saying "gold is on the rise" though turns it into a statement of fact that at best is a half truth considering the dramatic fall its had. Last year it sat flat for about 2 months, rose for about 2 months and the other 8 months it was falling. Thats really not a rising asset.
Whether you meant to or not it was a deceptive statement like the advertisements that say silver has gone from 5 dollars to 20 since 2006 but leaves out the fact it fell from 48 recently.
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Pillar of the Community
Canada
532 Posts |
Gold is not on the rise from the chart. Neither is silver at the moment: Just reality. http://www.kitco.com/  Edited by Fixguy
01/25/2014 07:54 am
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Pillar of the Community
 United States
3789 Posts |
Well I have been extremely busy and havent been able to post an update but I will this weekend.
It is funny to see people talk about gold rising, it makes me laugh. Of course its "rising". But that does not, by any means, tell us that gold is going to snap this downtrend. It will need to put in a lot of work to prove that the downtrend is done.
Lets hope that those who have continued to buy gold and silver on a regular basis dont end up seeing much lower prices from here and being underwater in their purchases which is a very likely and probabe outcome because trends are a powerful thing.
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Pillar of the Community
United States
4409 Posts |
The Jan. 28th issue of Numismatic News had an article on the front page titled "Bad year closes for gold".
It stated that "the price of gold declined $472.90 in 2013." It went on to mention gold's annual decline percentage.
Silver was discussed briefly and its decline percentage was also given.
-MV
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Valued Member
United States
337 Posts |
I'm sad that while silver has been down around $20 for what seems like months and I haven't had any extra cash to buy any. Was gonna buy some today with some extra money I was saving and boom waiting on a plumber to fix my broken pipes. This is the second time in the past month I've had a pipe burst even though I've taken all measures to make sure this didn't happen. darn his cold weather in NC.
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Bedrock of the Community
United States
10982 Posts |
The equity markets are so grossly over bought you can expect a 20% decline unless The Fed decides to throw another trillion USD into them this year. Equity markets are propped up by QE and will stay that way as long as they continue to get that free trillion USD every year. Meanwhile PMs are grossly over sold and being held down by the powers that be. The longer they hold them down the tighter the spring compresses. $100 silver and $4000 gold will arrive. The only question is will it take a year or a decade.
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Pillar of the Community
United States
1590 Posts |
Gold trades inversely to the health of the US Economy. If we had $4000/oz Gold, the US Economy would be in a massive depression.
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Pillar of the Community
Canada
746 Posts |
Gold & silver tanking! Look out below!  Yup, any updates? Always appreciated!  |
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Pillar of the Community
United States
4333 Posts |
Quote:
Gold trades inversely to the health of the US Economy. If we had $4000/oz Gold, the US Economy would be in a massive depression. I see. The US Economy is experiencing modest growth, which explains the slump in PM's. Let me go notify both of my unemployed neigbors. 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
Canada
1823 Posts |
Quote:
I see. The US Economy is experiencing modest growth, which explains the slump in PM's. Let me go notify both of my unemployed neigbors. I hear you up north here massive layoffs at sears, bestbuy ect.... The economy is running at full tilt hummmm  |
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Pillar of the Community
United States
1590 Posts |
Ummmm....yeah...OFFICIALLY the US is experiencing modest Growth.
And...ahhhh...well...you do realize that retail ALWAYS lays off after the Holiday season right?
And two unemployed neighbors is hardly a snap shot of the whole country. Sure it is still bad, but not as bad as it was, and that is the point.
And even if the reality were that it was still bad, or even worse, we are talking about the markets. And the markets deal in Perception. If the perception says we are doing better then the markets react to the perception not the reality.
That's just the way it really is, for better or for worse.
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Pillar of the Community
United States
1454 Posts |
jm,
I just asked the local bum and he says we've actually been in a depression for the last seven years. He thinks the country would need an asteroid-sized Prozac to get out of it. He has the plans for building such an object in his box, along with some of the raw materials.
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Replies: 5,649 / Views: 461,459 |
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Posted 01/22/2014 01:23 am
