Gold and silver

have been taking a beaten in the market, many on this forum said they would never go this low, gold was going to 2000, so what do you think cause this and when do you start buying the metals, now??

I have already started buying silver. It all will go back up. If gold drops a little more i will start buying it.

buy low,sell high. When the stock market takes a crap, gold n silver will go back up. My oponion

IMHO...grab all the gold you can afford and jump on the silver wagon. The times coming when you wish you did.

Charles

Over five years ago I was asked this question and I remember replying that if the economy did not collapse we would find ourselves in gold and silver bubble. If that proved true, gold would fall to $1,000 to $1,200 per ounce and stabilize there. I am not bragging myself up, just stating a fact.

If the economy takes another swan dive, which is possible but doubtful over the next twelve months, gold will shoot up again appropriately. Silver will tag along.

Having said all that, now that gold and silver have stabilized, and will likely head lower over the next few months at least, I intend to start acquiring gold at around $1,000 per ounce. I may hold off a bit longer if it slides further than that, but that slide will be brief.

Every person who is even marginally serious about investing ought to have 25% of their portfolio in gold and silver. To rely solely on stocks and bonds is pure delusion and the height of misplaced trust.

We are getting near a perfect time to buy the shiny stuff.

Im not trying to guess the bottom, Im buying all the silver I can at these prices. Been ordering every two weeks.

People are certainly buying physical silver coins (in the US), I read a recent report saying there was a shortage, and premium over Spot was quite high. It had been as low as 30 cents / ounce in recent months, but is more than 1.50 dollars now.

[goldsilver.com]

The bullion buyers are definitely driving this national market right now.

In Asia, especially China and India, they are buying gold jewelry heavily.

possum mo Wrote:
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> Im not trying to guess the bottom, Im buying all
> the silver I can at these prices. Been ordering
> every two weeks.


Nothing wrong with buying now. It may just take you longer to realize a profit on your investment if that is your motiviation.

If not, go for it!

Miser, I have been accumulating since 2002. This commodity bull market should last for a few more years. When the price blows off to the upside, I will cash out, and retire. All bull markets end in a mania .

Miser, good call on the metals market. The bust following a boom can be painful in both price and time / duration, and it tends to wipeout ALL of the gains of the boom. I concur with your $1,000 price target on gold; both psychological support and technical price support is evident between $950 and $1,000. There is a high degree of non-correlation between Gold and the US Dollar. And the US $ has been in a powerful uptrend for several weeks now (due to Euro weakness), and trends tend to persist. 

So, while gold is wickedly over-sold and subject to bounce short-term, I would not be in a hurry to buy this next rally. I need to see a confirmed uptrend first. My analysis and comments also apply to silver. If someone plans to hold physical metals indefinitely, then yes, I would be accumulating here. The next bull market in gold & silver should be breathtaking.

When the stock market finally tops, it will get really ugly, really fast. The only thing that will be left standing when the economy and stock market crash will be the surveillance grid our 'Dear Leaders' have been quietly building all around us for years. Just my opinion. 
Thanks,
Duke



Edited 1 time(s). Last edit at 11/14/2014 01:18AM by tnduke.

One reason the metals may drop to your targets. Some TA guys feel the dollar may remain in an upward trend for another ten months. Another is that the dollar is still perceived by many to be one of the better currencies out there.

A few reasons that the metals may be bottoming here. The supply is tight. The mint sold out of silver eagles last Monday. 1.4 million in 2 hours. Minting should start again the week of the 17th, and sales will be rationed. Another............. The Swiss will be voting on Nov 30, possibly forcing their government to buy back all the gold they sold over the last decade, and keep a large stockpile. That could really put pressure on the available supply. Most mines are now losing money at these prices, and they will be cutting production. Majestic silver is refusing to sell a large percent of silver they mine, at these prices. There is also rumbling that the silver miners are looking into getting together and forming an OPEC like pricing structure.. It will be interesting to see how it all plays out. Meanwhile, keep stackin!!

Thanks Duke.

Interesting information possum!

interesting info Possum!Thanks.

Thanks Miser and possum mo. I really enjoyed reading the thoughtful comments offered by both of you on this subject.
A widening in the premium of physical vs. paper gold prices is one of the things I look for at secular bottoms. The next few months should be interesting.

GL & HH!
Duke

deathray Wrote:
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> buy low,sell high. When the stock market takes a
> crap, gold n silver will go back up. My oponion


hope it has the "runs"..16 and change the oz. time to buy!

(h.h.!)
j.t.

Buy now..... why not? Look at the percentage of increase the last time. You just have to be smart about sellling. History repeats its self ..... ive already seen the housing market here in Fl go right back up to where it way..... crazy prices. Now if we can keep private systems from making stupid investments the dollar will remain good. Since i water hunt ..... gold and silver is good for me no matter what because its free money. BUT..... im not selling much if i dont need to. Gold is all over the board..... one day you might get a $25 increase. PT to me is a good indicator that gold is still high.

Dew

The last time gold peaked in the 80s people bought as the price declined from the high, expecting gold to return. That only took 20 years. The high is two years in the rear view mirror now. The time to buy was in 2000.

The nice thing about being a prospector is never needing to buy. I will go find it at these prices but I sure am not buying.

I don't have the option of finding it here...well I can, but not enough to amount to anything much. I live in the area that spawned the first gold rush in the country but most all of that is federally owned and they don't allow anything bigger than a shovel and a gold pan in specific areas. You will spend more on a biscuit from Hardees the morning of going prospecting than you will find in a weeks worth of panning up there in the streams and mountains. lol

On the flip side...I am going to start buying some myself and keeping it. This area has been hit hard by people having their debit cards and credit card info stolen and their bank accounts wiped out, and credit cards used for unauthorized purchases. Seems your account is only safe if you only carry cash. With the silver and such I am going to be buying...I may end up stashing it some place. Hey...I have goats and my wife is starting to get into this faith healing stuff. Maybe when I'm dead and gone, I will be the "goat doctor of the Appalachian mountains" for future prospectors to come try and find my hoards of silver coins and bullion buried on my place. Hahah.

Another factor is the enormous amount of money printing going on in the countries that have huge debts. The US, Japan just announced another round, and they are doing it in Europe, and many other countries. Russia is experiencing a Ruble collapse. What is Putin doing? Buying gold like crazy, as a hedge.. Many financial experts saw the dolllar will also collapse at some point. What is this country doing? Selling our gold. Protect yourself!
Excellent discussion here guys!

now they are going up, guys I find my share in the ground like most but I was going to invest some of the clad I find, turn the clad into gold and silver, but where do I buy it and from whom, and what's a fair mark up from spot, if I start to buy, it will be for my daughters future after I'm gone, thanks

History does repeat, but more often it rhymes. As Steve pointed out it can take years & years to correct and bottom after a bubble. We are only two years post the last gold top. Buying on the way down can be very hard on ones nerves, as markets can go lower than we ever imagined.  Selling begets more selling. And yes, physical gold is hard to beat if one wants to discreetly hold wealth, especially inter-generational wealth, outside the system. I read somewhere that the worlds richest family still owns gold that was bought 300 years ago. 

There is an ongoing race to the bottom in the currency markets, specifically between the Euro, Yen and US$. The NON governmental entities called central banks have, over the last several years, been creating massive amounts of money and credit. The problem is the increase in the money supply is not making it into the hands of the general population through wages, salaries and more importantly INCREASES in wages. Instead, it ends up being funneled into the stock market through the banks or simply ends up sitting in bank reserves. The money changers in charge of the system have figured out a way to create unlimited fiat money, withhold nearly ALL of it from the public and enrich only the wealthy & elite with it! 

Given all of the issues above I remain bullish on physical precious metals over the longterm. But I am cautious over the short and intermediate term as I am a trend follower when it comes to markets.

Agreed, possum mo, great discussion!

Best of luck to all,
Duke

This is the reason why I buy physical gold. Excellent point Duke.

tnduke Wrote:
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> physical gold is
> hard to beat if one wants to discreetly hold
> wealth, especially inter-generational wealth,
> outside the system.
> Duke

There are some mighty powerful forces at work here guys. Just off the top of my head:

1. The FED does not want the inflation rate to be witnessed in gold and it is no secret they have been doing everything they can (e.g. selling physical, selling puts, etc.) to keep the price of gold under control. See GATA for a lot of evidence.
2. China probably has about 3X as much gold as the claim to have. They are huge buyers, so, they actually like what the FED/Big Banks have been doing. It is a hedge against their huge debt/dollar holdings.

Now, China is teaming with Russia (and the BRICS) to go around the dollar and that is an economically GREAT decision. It appears certain that the dollars days are nearing and end, and the question for me, regarding precious metals is, will what follows be backed by something? Will it be a gold/silver digitally backed money? If it is, The US no longer has most of it's gold (just look at what they told the Germans upon request.) The IMF is only leveraged 3:1, while the FED AND the ECB are essentially insovent. Their leverage is technical proof but as long as we believe, they can stay afloat. But most of the larger banks have been insolvent since the 2008 Crisis anyway, and without the FED doing overnight loans to the ECB, we would have seen a bust in the EU already imo, unless the IMF gets involved, which BTW, I think might "propose" (rather be planning) the replacement to the USD.

My point, do something with your dollars. I don't know what, but a little gold, silver (I think better upside), Bitcoin (or the next digital money that is Stateless - key point), etc. Regarding the last point, digital money, if they start confiscations (again), a small percentage of holdings in something that can be moved easily and relatively pseudo-anonymously, is a great insurance play.

Good luck,
Albert

Caretaker, local coin dealers, or online I currently use sdbullion.com and silver.com . I have also purchased off ebay at times. shop around, that will give you a feel for the going prices.

Thanks Rover. You are in very good company. For centuries the elite have used gold and land (with mineral, water and timber rights) to shelter their wealth and pass it onto their heirs. I wish you the best.

Albert, great post. Well written and very informative. Thanks for sharing your thoughts.

NOTE: When it comes to buying gold coins I would suggest that you favor well established dealers. A few months ago I read in an article (CoinWeek, I think) that the Canadian Maple leaf 1 oz. gold coin is now being counterfeited. I have been hearing about fake gold coins for quite sometime. For years I have been using a Fisch instrument (thefisch.com) to test my gold coins before purchasing. I have never personally encountered a fake coin but they are out there (just google 'Fake Gold Coins'). Check out the website thefisch.com and watch the two embedded videos detailing The Fisch and The Ringer. A quick Fisch & Ringer instrument test can give you added assurance that you are not being taken. 

Good thread!

Good luck to all,
Duke



Edited 1 time(s). Last edit at 11/18/2014 02:07AM by tnduke.

This thread is over-due for a revival.
What do you reckon, then? Short-term over-bought, and a selling opportunity? Just starting a major breakout, and a buy signal? Last chance to sell at a decent price before it falls below 1000 dollars?

deathray Wrote:
-------------------------------------------------------
> buy low,sell high. When the stock market takes a
> crap, gold n silver will go back up. My oponion


time to buy!..when the market "craps" this time it will have to be pumped!

(h.h.!)
j.t.