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Gold and silver. Discuss - Page 8

post #106 of 289
Well there's nothing really special about them other than me admiring the personalities on the coins.
post #107 of 289
Quote:
Originally Posted by javyn View Post
Well there's nothing really special about them other than me admiring the personalities on the coins.
Not a thing wrong with that. I like 2.5 and 5 dollar Indian gold coins just because they look cool.
post #108 of 289
Interesting. The stock market and metals are both taking a dump today. I'm glad I didn't finalize my little Gold purchase yet.
post #109 of 289
Quote:
Originally Posted by Crane's View Post
Interesting. The stock market and metals are both taking a dump today. I'm glad I didn't finalize my little Gold purchase yet.

Yeah I'm getting hit pretty hard in oil services, my own fault for not selling Wednesday like I had planned.

Although, I am excited at the prospect of a silver breakdown. If it gets down to 28 an ounce I'm going to go nuts. Apmex.com should restocked with Eagles by 3/25
post #110 of 289
Yeah, we are really taking a beating everywhere... Do you think we will get this silver pullback to 30 or less that everyone is talking about? I sure hope not, just bought and cant buy more. Oh well, long term will yield great things.
post #111 of 289
Quote:
Originally Posted by mikeman View Post
Yeah, we are really taking a beating everywhere... Do you think we will get this silver pullback to 30 or less that everyone is talking about? I sure hope not, just bought and cant buy more. Oh well, long term will yield great things.

I don't know but I'm guessing yes, people will take profits and it will breakdown to 30 or so, maybe less. I wouldn't worry too much. Silver seems to be very volatile because there is so little of it actually traded. Which is why I buy physical, and tell everyone I know to buy physical now, to take even more off the market.
post #112 of 289
Quote:
Originally Posted by javyn View Post
Yeah I'm getting hit pretty hard in oil services, my own fault for not selling Wednesday like I had planned.

Although, I am excited at the prospect of a silver breakdown. If it gets down to 28 an ounce I'm going to go nuts. Apmex.com should restocked with Eagles by 3/25

Im getting slammed by oil too. sure hope silver doesn't sink back to 28 or below ~33 for that matter. I just bought and I think i'm don't buying silver for a while,as i have most of my money in it.
post #113 of 289
I'm one of the three saying gold and silver are heading for a fall. Get out now if you can but always have 10K or there about in your safe in case the revolution ever happens.
post #114 of 289
30 or 31 sounds about right. 1250 to 1300 for Gold would be OK with me too.
post #115 of 289
Quote:
Originally Posted by culverwood View Post
I'm one of the three saying gold and silver are heading for a fall. Get out now if you can but always have 10K or there about in your safe in case the revolution ever happens.
I am a recent convert on metals. I was always thinking that gold and silver were over-hyped, and since we went off the gold standard, they are no different than any other commodity since there is no built-in demand from it being a currency anymore to keep the price up. After reading about Utah trying to go back to making bullion into legal tender (as well as 10 other states), what's going on in the middle east, JPM's massive short interest in silver, and the incredible stubbornness of PM longs, well, I see the light now heh. PM bugs rock. You can short silver down to 20 dollars, and rather than freaking out looking for exits, the longs will just load up on even more physical metal. I love it. Crane, 1250 gold would be nice, but wouldn't 1k be nicer I'm not worried about any breakdowns in the PM market. No problem letting the market digest some of these gains even if it means lower prices for a while. edit: Also, I see that weak hands are trying to point to the crash in '80 after silver touched 50 an ounce, as if to imply the same thing would happen today if silver hits 50. In 1980 the Q3 money supply was what, 1.5 trillion? What's it today? 18+ trillion and growing. You do the math to adjust that 1980 price in today's inflated dollars.
post #116 of 289
javyn, I totally agree. People need to stop freaking out. People know the fundamentals are there, and it will go higher, but like every investment, it needs to consolidate after a run, and thats where we are now. There are way to many reasons for silver to fall a ton.
As for the 80s crash, that was totally different. That was because the hunt brothers were hoarding silver, but now, there is actually tons of demand. I still say 50+ by years end.
post #117 of 289
Agree w/ you 100%.
post #118 of 289
Quote:
Originally Posted by javyn View Post
I am a recent convert on metals. I was always thinking that gold and silver were over-hyped, and since we went off the gold standard, they are no different than any other commodity since there is no built-in demand from it being a currency anymore to keep the price up. After reading about Utah trying to go back to making bullion into legal tender (as well as 10 other states), what's going on in the middle east, JPM's massive short interest in silver, and the incredible stubbornness of PM longs, well, I see the light now heh. PM bugs rock. You can short silver down to 20 dollars, and rather than freaking out looking for exits, the longs will just load up on even more physical metal. I love it. Crane, 1250 gold would be nice, but wouldn't 1k be nicer I'm not worried about any breakdowns in the PM market. No problem letting the market digest some of these gains even if it means lower prices for a while. edit: Also, I see that weak hands are trying to point to the crash in '80 after silver touched 50 an ounce, as if to imply the same thing would happen today if silver hits 50. In 1980 the Q3 money supply was what, 1.5 trillion? What's it today? 18+ trillion and growing. You do the math to adjust that 1980 price in today's inflated dollars.
1K would be very nice. All I'm seeing is a small spike caused by recent events and now IMO there's a profit taking going on. I'm not overly concerned about it.
post #119 of 289
Quote:
Originally Posted by Crane's View Post
1K would be very nice.

All I'm seeing is a small spike caused by recent events and now IMO there's a profit taking going on. I'm not overly concerned about it.

Higher lows, higher highs, and it looks like our downturn now is on light volume. I'm not worried at all. Just profit taking if ya ask me.
post #120 of 289
Quote:
Originally Posted by javyn View Post
So, anyone else besides javyn in the freak out and stock up on bullion club? Just got ~130 oz silver and a few 1/4 oz gold krugerrands.

The numismatic and metal exchanges here in h-town were all sold out of everything save one this weekend, so I got what they had.

Plan on increasing this week to around 30k physical metal if I can find any exchange that's been restocked this week.

Already have 35 oz. of gold in bullion coins, bought in late '08 and early '09. I use GLD and calls on GLD to play gold now.
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