| Author |
 Replies: 25 / Views: 4,000 |
|
Valued Member
United States
245 Posts |
It seems like precious metals are in a nasty free fall with no end in sight. This appears to have been set off by the Trump Rally and the upcoming interest rate hike. With that being said, how low could silver and gold potentially go?
Could silver slip beneath $13 an ounce? Could gold slip under a grand per ounce? I'm glad I'm invested in the stock markets too, I'm thinking I could get hammered on PM for a while. I'm holding for 15 more years, so no biggie. Thinking about buying more if it keeps getting thumped. Edited by TMCD75
11/23/2016 9:56 pm
|
|
|
|
Bedrock of the Community
United States
11951 Posts |
I don't mind it going down
I like buying as it goes down .. when it looks like it is at bottom ... buy more
|
|
Pillar of the Community
United States
992 Posts |
Buy the dips, sell the booms. No one ever went broke taking a profit.
|
|
Pillar of the Community
 Canada
5400 Posts |
Any one who KNOWS would never have to work another day in their life. Could go higher or could go lower no one knows.
An analogy would be sort of like Texas Holdem Poker, you are all in on the flop with the best hand and lose on the river.
Personally I think gold and silver are headed lower and could very well end up on December 31st 2016 right where they were on January 2 2016. That is just a guess , I know nothing.
|
|
Pillar of the Community
Russian Federation
5176 Posts |
If the prices do fall down to January levels, that would be cool - I could actually stock up on assorted silver (and maybe even get some silver Romanian coins for my type set).
It was harder in January because the exchange rates were against me; they're not as bad today (though they could easily climb back up anyway).
|
|
Pillar of the Community
United States
606 Posts |
I agree as I've decided on a policy only to buy physical if it helps lower my average cost. Currently, I'm about $15.75 so it looks like I might be able to shop again.
This might not be the best approach, but I like it. Honestly, I wasn't sure if I would ever be buying physical again.
Edited by MontanaCMR
11/24/2016 01:00 am
|
|
Bedrock of the Community
United Kingdom
17972 Posts |
I'd love to buy a few more gold coins - unfortunately, as a Brit, the fall in the value of the pound since the Brexit vote has cancelled out the fall in the price of gold...
|
|
Pillar of the Community
United States
2661 Posts |
If I knew I would put everything I own into short positions on paper contracts and and change my name to Count De'Money.
|
|
Bedrock of the Community
Australia
21788 Posts |
The answer to the question of this thread:
NO
I have seen lots of 'ups' and 'downs' in PM prices in my collecting experience, which covers far more many decades than I am prepared to admit to.
|
|
Rest in Peace
United States
18456 Posts |
|
|
Pillar of the Community
United States
1195 Posts |
Unfortunately the last time silver was in the $13-14 range, I found that dealers just increased the premium over spot price so it wasn't much cheaper than when silver hit $20. Anyone else notice that?
|
|
Pillar of the Community
United States
1316 Posts |
Shops still have fixed costs and life in general to cover that are not correlated to spot price. There comes a point they simply have to apply a base premium for all transactions to stay in business.
|
|
Valued Member
 United States
245 Posts |
If silver falls to 13 bucks an ounce, there's no way I'll pay $20 for a silver eagle. At $13/oz., you shouldn't pay over $16-$17 for a silver eagle.
If shops are going to gouge, guess what, we will take our money and buy on line!!
|
|
Rest in Peace
United States
17900 Posts |
I think most collectors prefer lower PM prices if the prices of the coins they collect are influenced by the PM prices.
Silver stackers and gold golems probably not so much.
|
|
Pillar of the Community
United States
1450 Posts |
I remember back in around 2000 when silver was $7 an ounce. I truly know nothing about price fluctuations in prices of precious metals. I sold when I should have been buying like a fool and then did not even think about for years. I used to buy silver in form of bowls, plates, silverware etc. I loved buying it and was pretty good at auctions. However, I tried to flip it and found out that does not work for small timers. You have to buy and hold until there is a big run up in prices. There is an ETF you can buy into actual gold (GLD), but there are expenses. I would rather see lower PM prices so I could buy some gold coins like Saints and Liberty Head $20 pieces and all beautiful Indian Heads. I love the feel of gold and silver coins in my hands. I feel like a billionaire for a few seconds.
|
|
Pillar of the Community
Russian Federation
5176 Posts |
I had the opposite problem: I bought most of my big silver pretty much immediately after I ended up with extra spending money.
That was in April 2011, and I bought the coins for just under their melt value of $40 per ounce (and naively thought I got a great deal).
|
| |
Replies: 25 / Views: 4,000 |
Posted 11/23/2016 10:13 pm
