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 Replies: 21 / Views: 3,249 |
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Pillar of the Community
Canada
2426 Posts |
doesn't gold go down when the US Greenback goes up?
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Pillar of the Community
Canada
3049 Posts |
47P7: I actually think $10 silver is very likely... and while my DCA takes a hit percentage wise everytime the price drops futher ... I am looking for the day when support for the white metal has been established.. I still buy a bit here and there to "calm the fix" but will be nice to pick up some serious shiney again..
As for why silver drops... I have no prevailing answer for you there... some are so narrow minded to think one isolated incident in one country would have such an effect on a globally traded commodity.. I would like to think it has more to do with the volume of large contracts being filled ... but once again.. really what do I know....
I just sit here and look at "my precious" and it makes me happy....
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Pillar of the Community
 Canada
5394 Posts |
With cheap money (low interest rates) and no end in sight there is NO real reason to hold gold and silver. The US economy continues to improve and it is all about the US dollar at this time. I really believe that silver and gold are headed MUCH lower. Probably back to the levels of before the financial crisis of 2008-09 , $8-9 dollar silver and $750-800 gold.
What the real question here should be is what about the major currencies? The US dollar is on a bull market run right now, and threatens to completely hammer other currencies as it did in the early part of this century. This morning the greenback passed 1.20 Australia, a level that has NOT been seen for years. The "loonie" looks like it won't be too far behind as it too threatens to head MUCH lower than the 1.145 level it is currently at.
I will keep the gold and silver that I have but would not even dream of adding to it at present . I will just keep adding to my US dollar investments, much more predictable for the short term.
Edited by Pacificoin
12/05/2014 1:41 pm
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Pillar of the Community
United States
1804 Posts |
AuCoinAG Quote:
I actually think $10 silver is very likely  And, I think AG will hit $10, before it hits $20 |
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Pillar of the Community
Canada
3049 Posts |
Pacific:
Exactly what I'm doing as well...
1) Few purchases on Ag or Au for me.. (there still will be some.. I'm addicted and will always by a little here and there)
2) Shifting a certain percentage of my equities since 2013 into U.S. equities.... there's good growth and I think I'll make out like a bandit on the exchange rate over the long haul... (will all be extra $$ esp. with growth and paying dividends)
3)This is a very tedious one but.. I already enjoy CRH'ing... I always extract the U.S. coins from the boxes and put them away... Now it literally is "nickel and diming" it... In the late 80's and early 90's when our dollar was .60 to that of the USD as a teen I was always happy to save the US coin for road trips and I thought I was making out like a bandit saving 40 cents to the dollar on the exchange rate... On a bigger picture I intend on at some point either opening a U.S. account to take in my U.S. coin, exchange for cash an make purchases taking advantage of the exchange rate ...
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Pillar of the Community
Canada
5394 Posts |
Excellent strategy AG. When we do buys it is amazing the amount of US coins we receive. When we head to a US show first stop is the Wells Fargo coin machine...............cheep US cash! Plus the machine is great fun! |
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Pillar of the Community
Canada
3234 Posts |
Pacificoin nailed it in my view..
I just wish that I was a precious metals trader...they always win...
Everyone had the chance a few years back to unload all of their extra gold and silver.. and make a bundle ...but how many did..?
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Valued Member
Canada
403 Posts |
100% agree with Pacific on this. The only gold I recently bought was to complete my 1912-1914 BoC gold collection from the (desperate) re-sellers in the secondary market after gold prices dropped from initial release to the public.
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Pillar of the Community
Canada
3049 Posts |
I bought my first piece of gold when I was pretty young... it was from a bank.. (nova scotia I believe)... soon after some silver... LOVED those pieces...
In 2009 (the crash) I was coaching at a national competition in St. John's when I bumped into one of my old teamates.. he was/is a financial advisor... it was march and there was a LOT of buzz regarding the markets... I asked him what his 5 year outlook was... he told me they were very heavy in gold...
I topped up and then some... since then I have acutally sold... I bought gold all the way up to the 1600 and sold it all at 1450... For silver it was pretty much the same.. I bought all the way up until 35 and sold it all at 32... Upon reflection I'm glad I did...
Only this year have I started buying here and there (just to scratch the itch) but no really big quantities... I took most of the money off the table and have invested it in stained glass.. some wooden antique furniture and one painting...
Even if gold and silver hit their bottoms I'm not sure I would be looking to get in yet.. I would like to hear the words "inflation" kicked around a little...I would like to see interest rates rise.
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Valued Member
Canada
403 Posts |
Further to your point, I think we (at least in Canada) will see the first interest rate increment next Spring, which will be a key litmus test that will be analysed to death over the next 6-12 months thereafter. Back to the price of gold: has anyone seen the 6-piece BoC 1912-1914 gold hoard set (originally released by the RCM for $12k) for resale anywhere since the initial release? I believe the RCM assembled 75 sets from the top graded coins from the hoard, and after they sold out, I never saw or heard another thing about these sets. To date, I've not seen them on ebay or other reseller sites at all. If they were to start surfacing, I wonder (strictly out of curiosity) how much they would sell for in these (or future) adverse gold market conditions...? |
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Pillar of the Community
Canada
3049 Posts |
My best guess is that Gatewest may have picked them up.... when that horde became available... almost everything was bought up by them! Give them a call or shoot 'em an e-mail and see if they have one.
Awhile ago I picked up a 1912 $5 piece... the details are fantastic... but the colour is off... I fear it has/had been cleaned... Never the less I didn't continue with the set as gold prices were dropping like a knife. I think most of these coins one could pick up at or very close to spot.. with the exception of top grade pieces.
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Pillar of the Community
Canada
5324 Posts |
A set of BOC sold at Heritage this past Feb. for about 10,000.00 it graded poorly, and sold below issue.
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Pillar of the Community
Canada
5394 Posts |
What a surprise ..........not!!
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Valued Member
Canada
403 Posts |
AG, I've watched the copious ads Gatewest plasters in CCN, and have never seen an ad for the 6-coin set, but I have seen tons of ads for individual PCGS certified for all years and denominations. Very interesting John, I'm actually surprised it went for as high as $10k given the market conditions (even considering gold was doing better in Feb than it is today).
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Forum Kid
Canada
1074 Posts |
we all should understand that no one will ever know what the price of gold will do, infill 1 person in the world will own all of the supply!  Is it looking promising...!? |
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Replies: 21 / Views: 3,249 |
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Posted 12/05/2014 11:46 am
