Wow Gold Took A Beating Today

Not that much of a worry for me, but I DO keep a watch on the bullion prices.
I have been into numismatics for nearly 40 years and bullion on a minor scale for about 20.
I have seen the Hunt Brothers saga come and go, as well as lesser crises before and after that.

Bullion prices DO have some indirect influence on numismatic prices, especially with gold coins.
I have long since come to learn that gold is just another metal from which coins are made, it's just that they cost more per item.
Big swings in bullion prices just can't generate much more than a passing interest in me any more.

However, I DO see an opportunity to increase your bullion position with small purchases, using dollar cost averaging. I do NOT see this an opportunity for gambling or speculation.

Must have been that NYTimes article from yesterday. Everybody from Cyprus and even China is dumping massive amounts of gold into the market. They predicted $1390 gold by the fall, heck we might get there by Monday. Down $88 so far today,

I'm not normally a buyer of gold, but I bought some Canadian Gold Maples when prices dipped below $1600, a couple of 100-gram Pamp Suisse gold bars when prices dipped below $1500 and two more 100-gram Pamp Suisse gold bars today when gold was at $1484. I honestly never thought I'd see gold below $1500 again in my lifetime.

I don't know how much lower it's likely to fall, but I figure I'll keep buying a few ounces at a time every time it drops more than $50...

Looking at the rate it is dropping, I think 1400 in near future is looking very likely. I personally will be very comfortable buying at that level.

I read on one of the financial sites yesterday that it could go as low as $1350 by years end. But keep this in mind, thses same financial sites were call for $5000 an ounce not all that long ago too.

Well nothing out there for spot or any percentages over spot of even a few weeks ago. My local shop is at 15 percent over spot and only dimes and quarters. Last week was 5 percent for dimes and quarters 10 percent for halves. a few weeks ago 3 percent for all. I think those controling spot have nothing to do with actual demand for physical PM. Time will tell. Hopefully all this irons out and things get back to normal.