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 Replies: 23 / Views: 2,805 |
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Pillar of the Community
United States
5855 Posts |
Yep, that's right. Gold is about to take a sharp nose dive. How do I know? Easy -- I finally pulled the trigger this morning on 5 ounces of gold (Krugerrands) when gold dipped down to $1562 this morning and apparently plateaued. Given my past history with PM purchases, that pretty much guarantees that gold will now drop significantly within the next day or two...
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Pillar of the Community
United States
1026 Posts |
Barry, join my club I just made a BIG silver purchase when it dropped just below $30 causing it to go down ever since my purchase. But Gold and Silver can only go back up big time in the near future I think.
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Pillar of the Community
 United States
5855 Posts |
Yep, a few weeks ago I bought a monster box of silver maples when silver dipped below $31. It dipped $2 more a couple of days later and has stayed there ever since.
Ah well, on the bright side my wife says we should buy a little more silver if it drops below $28, so I'm just watching and waiting. After which, of course, it will immediately drop down to $25...
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Valued Member
United States
58 Posts |
As it drops, I am continuing to buy, in hopes that one day it skyrocket (as advertised:)).
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Pillar of the Community
United States
648 Posts |
Barry, that's my theory as well. Anytime I buy, it drops. Next time I buy (which will be this Friday) I'll be investing around $10k. Congrats on the Krugg investment!
Edited by tripncoins
05/14/2012 10:10 am
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Pillar of the Community
United States
3670 Posts |
Way to drive the price down Barry, I got a quarter up for sale, rof  .... Nice score on the Krugers five oz. good haul an plan, little diversity.... |
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Pillar of the Community
United States
5855 Posts |
Yeah, I was surprised at how low the premium was on the Krugers, seeing as how they were the go-to gold bullion coins for many years. At only $27.99 over spot plus free shipping, it was a bit of a no-brainer. Would have loved to get 10 or 20 of them, but that monster box of maples is a little too fresh in my mind (and wallet).
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Bedrock of the Community
Australia
21788 Posts |
Dollar cost average, no matter which way you go.
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Pillar of the Community
United States
3670 Posts |
No need to get in to deep until we get more of a clear idea what is to come, as it is really a coin flip these days. Even though fundamentally we all know when your this low, there is only one direction to go from there and last time I checked silver or gold have never been worth zero in history of time....
You are doing fantastic with 2 monster boxes an the 90% bags, an now five oz. of gold. A real solid start as most could not come up with that much in that short of amount of time, well done....
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Pillar of the Community
United States
808 Posts |
 With all of the Greece craziness, CNBC is projecting the Euro is headed down to $1.25 or less and the US dollar rising fast. All signs that this PM price dip is far from over. Sel has it right...dollar cost averaging is the right play. |
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Valued Member
United States
264 Posts |
Gold is going to plummet! I agree!  My only fear now is that Ben Bernanke will say something negative about our banking system. |
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Pillar of the Community
United States
5855 Posts |
Quote:
You are doing fantastic with 2 monster boxes an the 90% bags, an now five oz. of gold. A real solid start as most could not come up with that much in that short of amount of time, well done.... Glad you approve! I feel like I'm making up for lost time as I (repeatedly) kick myself for paying no attention to gold and silver whatsoever back when it was so much cheaper. Of course, back then I figured it would always be cheap and therefore would make a lousy investment. As for doing it in a short amount of time, what can I say? We had the money and were trying to figure out the best way to invest it. You guys have convinced me that PM is the way to go, at least within reason. I'm still not prepared to convert our life savings, but anything extra we have each month is basically now going into PM instead of the savings account. My wife is funny about it, though. First, she will tell me to hold off buying anything else until the end of the year when prices could dip like they did last December. The next day, however, she'll tell me to buy some more silver if it drops below $28. I should mention, btw, that she works in the financial industry (obliquely, not as a trader or a fund manager or anything like that) and she is becoming more and more convinced that the dollar is headed for a crash that will cause our savings to be severely devalued. She's not willing to "bet the farm" on it, though, hence the constant indecision. If we knew for sure that the dollar was going to crash, we'd convert our son's fully-funded college fund into PM as well. We dare not do that, though, in case we're wrong... |
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Pillar of the Community
United States
3670 Posts |
Never a bad plan to NOT pull all of ones eggs in one basket, it is that simple in the end. Just to be safe as anything can happen and one major new war or natural disaster could tip the scales back in PM's favor fast. So I would say to you an all, just keep doin what ya doin....
Edited by Silverhawk74
05/14/2012 1:15 pm
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Pillar of the Community
United States
1026 Posts |
Well like I said I said to myself no more silver but of it dips below $25 I may have to buy more :)
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Pillar of the Community
United States
5855 Posts |
Hmmmm...
Strangely enough, after the initial drop this morning, gold and silver seem to have plateaued the rest of the day so far. I was expecting the normal 10:00 market manipulation, but it didn't happen.
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Pillar of the Community
United States
4008 Posts |
Barry and Bruce... I want to thank you guys for being the canaries in the PM coal mine. You just don't know how incredibly valuable you guys are to the rest of us! Gold is looking pretty good to me too but I am now trying to decide between coins and bars. Those Credit Suisse 1-oz. bars and their $21 premium are looking really good.  |
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Replies: 23 / Views: 2,805 |
Posted 05/14/2012 09:23 am
