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What Happens To Gold And Silver Next? Look Out Below?

 
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Bedrock of the Community
United States
12776 Posts
 Posted 04/14/2013  04:31 am  Show Profile   Bookmark this reply Add basebal21 to your friends list Get a Link to this Reply

Quote:
When you see the Dow drop to around 3000 late this year then the global economy can begin to improve.


Its not going to drop to 3k, anythings possible but its highly unlikely. There are things that are propped up by spending and interest rates, but a lot of the giants on there making everything look better than it is wouldnt just crash to the ground.

Google wouldnt be trading for pennies on the dollar for example. It didnt even drop to 3k in 08 either.

Fire A.J. Preller
Pillar of the Community
United Kingdom
616 Posts
 Posted 04/14/2013  08:10 am  Show Profile   Bookmark this reply Add starbuxinvestor to your friends list Get a Link to this Reply
When I read things like Dow dropping to 3000 or Gold being bought by Central banks like crazy then look at real world data I just have to shake my head. Looking into 2014 the U.S. economy through no fault of our own is poised for a really good year. Are there large challenges in the world yes but often having those challenges or worries and seeing them lessen or not come to fruition is what propels a stock market higher. It is when there is nothing to worry about and prosperity will last forever that you see the huge collapses IMHO. It seems to me that almost always humans as a group overreact in one direction or another and as a whole I still see people reacting to what happen in 2007. But this is just opinion and conjecture on my part and should not be taken as advice or guidance by another individual.
Edited by starbuxinvestor
04/14/2013 08:13 am
Pillar of the Community
United States
3787 Posts
 Posted 04/14/2013  8:04 pm  Show Profile   Bookmark this reply Add yup7676 to your friends list Get a Link to this Reply
First-

futures are now open for trading. Gold and silver continue to drop, no surprise there. See what happens as we wake up tomorrow AM and into the cash markets and everything else open up.. but its no shock silver and gold continue lower.

Second- this isn't a forum to debate, I dont think, at length why the markets drop or will. I can pick apart line by line many of those who have made outrageous predictions and assumptions but that's a waste of time and this is not the place... and anyways my bank account tells me all I need to know, that I Am right.

Just please, be very careful going forward. This downtrend isn't going to resolve itself after a day, a month, a week or even a year. Don't think because there was a sell off last week that its all clear. Don't think because there's a rebound that its all clear. Remember the guy who was here saying silver rebounded... yea so much for what he said, he was wrong.

Again, from this point forward, be very careful because prices will continue to drop, we aren't done with this downtrend.

Pillar of the Community
Canada
746 Posts
 Posted 04/14/2013  8:23 pm  Show Profile   Bookmark this reply Add allspice to your friends list Get a Link to this Reply
I agree, yup7676. Plenty of room for downside. Once that $26 key level broke, the next major level of support is about $20. Wouldn't be surprised if that's where we are headed. The question though is, will it still be possible to buy physical? Internet tie-ups, delays, sell-outs, shutting down for maintenance, etc. Better to buy in pieces on each dip, rather than pick up scraps at the bottom.
Valued Member
United Kingdom
90 Posts
 Posted 04/14/2013  9:22 pm  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
Yup, daily movements are somewhat meaningless, unless its a really massive shift, which, whilst Fridays drop was large, wasnt earth shattering. The long term trend is pointing down and it'll take some time of the smaller up and down movements to show if this will level off, subject to some spectacular event happening like war.

Patience can be a hard thing though when buying coins if you happen to like owning them. I'd love to have a gold Britannia to add to the collection, but I know I should wait...
Pillar of the Community
United States
2168 Posts
 Posted 04/14/2013  9:57 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
Seems it is almost another dollar drop now on the European markets. Probably won't be much for sale at those prices right now without high premiums
Pillar of the Community
United States
2541 Posts
 Posted 04/14/2013  10:05 pm  Show Profile   Bookmark this reply Add Gothic Florin to your friends list Get a Link to this Reply
The trend is your friend - silver is going lower.. Very annoying that coin dealers are more than happy to raise their prices as silver goes up, but stop selling or jack up premiums as the price of silver drops...
Edited by Gothic Florin
04/14/2013 10:30 pm
Valued Member
United Kingdom
90 Posts
 Posted 04/14/2013  10:12 pm  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
Jesus, boy is it dropping fast already today, this really IS a test of patience.

I suspect many wont resist and start buying like crazy, causing major shortages from most online stores.
Pillar of the Community
United States
3670 Posts
 Posted 04/14/2013  10:13 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
Anybody notice a MAJOR drop to start Sunday evening? So much for my swift recovery theory as she is spiraling for 20 per oz. and gold who knows how low she goes even though I TRULY believe it digs it claws and and holds ground at 1400....

Pillar of the Community
Canada
746 Posts
 Posted 04/14/2013  10:15 pm  Show Profile   Bookmark this reply Add allspice to your friends list Get a Link to this Reply
Shocking! Something big happening quick! Won't be sleeping tonight...
Pillar of the Community
United States
2168 Posts
 Posted 04/14/2013  10:33 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
All PMs crashing again. Time will tell what happens when this all settles. Premiums will bw sky high. I feel for the dealers that bout last week and have to really tack on premiums to break even. Nice to think if PMs drop we get a better deal but due to the swift drops the physical market can't be sold for spot it seems now. Wonder what the premiums will be tomorrow
Pillar of the Community
Canada
746 Posts
 Posted 04/14/2013  10:39 pm  Show Profile   Bookmark this reply Add allspice to your friends list Get a Link to this Reply
Tomorrow might be too late! Many online dealers are selling out quickly! Silver formed a hook and is turning down yet again! Could be $23.00 by morning!
Valued Member
United Kingdom
90 Posts
 Posted 04/14/2013  10:40 pm  Show Profile   Bookmark this reply Add Arksun to your friends list Get a Link to this Reply
A 5% drop on Friday and of this second an additional 6.5% drop on top of that today so far for silver spot price, extraordinary numbers.
Pillar of the Community
United States
2168 Posts
 Posted 04/14/2013  10:43 pm  Show Profile   Bookmark this reply Add angel2004 to your friends list Get a Link to this Reply
Yes and more than likely nothing to buy or very high premiums.
Valued Member
Australia
442 Posts
 Posted 04/14/2013  10:55 pm  Show Profile   Bookmark this reply Add kg5 to your friends list Get a Link to this Reply
Last time I purchased Gold was in 2005 at AU$540 oz and the Australian Dollar was about USA80c.

Gold & Silver to me looks like they are in the same position shares were in 2007. On the nose!

In 2007 everyone was still buying shares & Property in mass. Not many people were buying gold and silver.

To me it is time to seriously look at property and I will be looking at shares in this area. I am not saying I am going to buy them, I am saying that they need to be looked at over the next 6 months along with gold and silver.

I am forming a strong opinion that investing in these areas should be left alone for the next 4 to 6 months. While waiting I am going to invest in small pieces of paper and use my selling credibility to sell them and out strip any other investment I can think of.

Good luck if you are a buyer of gold you will need it.

Silver to buy is stable in the recent trends. It is still so cheap per oz that selling and buying costs keeping it stable. Very strange market place at present accept buying junk silver in old coins.
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