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Are Gold and Silver gonna keep going down?

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  • sixoclockhold
    Banned
    • Jul 2012
    • 4040

    Originally posted by smashycrashy
    The rewards outweigh the risk below a certain price...

    We are way above that price.

    Buying PM's only makes sense if you buy below avg cash cost for all mines (it can stay below that price for very long periods of time)

    In times when it goes ballistic because people are insane.. is the time to sell.. not buy.

    This is still a fantastic selling opportunity!
    Looking at the last 10 year history of Gold prices, I can't believe an investment counselor would say anything but buy X% based on the fact we are currently at a median level. The risks are equal up or down. Gold is normally thought of as insurance in an investment portfolio and delaying the purchase of such insurance would make little sense.

    Comment

    • sixoclockhold
      Banned
      • Jul 2012
      • 4040

      Smashy was that you who did the slam down of Gold $35 bucks this morning enough to halt trading again? Bummer were up now, eh.

      The World is getting nervous, financial trembler's everywhere you look.

      Comment

      • smashycrashy
        Veteran Member
        • Sep 2011
        • 2999

        Originally posted by sixoclockhold
        Smashy was that you who did the slam down of Gold $35 bucks this morning enough to halt trading again? Bummer were up now, eh.

        The World is getting nervous, financial trembler's everywhere you look.
        You sure like to sweat the small price movements, the trend is (rightfully) down and that downtrend remains intact. Everything else is just noise.

        Comment

        • Not a Cook
          Senior Member
          • Mar 2013
          • 1684

          Let me apologize in advance for threadjacking: not really trying to, and hopefully I won't annoy you too badly. I'm totally new to buying precious metals, and judging by this thread am hoping that some of the folks here would be willing to help me out. Where would you advise someone like myself start in buying silver for an emergency on-hand stockpile? Why types of coins? Any specific dealers (the San Fernando Valley, Ventura County, and adjacent areas are convenient for me) that you would recommend? Also, if I understand correctly, minimum purchase should be $1,500 so as not to have to pay sales tax, correct? Anything else I should keep in mind? I've read through this thread and some other websites, but assume there is more that I should be considering. Thanks in advance for your help!
          Regarding the 2nd Amendment:
          "...to disarm the people ― that was the best and most effectual way to enslave them." George Mason ("The Father of the Bill of Rights")

          Regarding Life and Death:
          "Do not fear those who kill the body but are unable to kill the soul; but rather fear Him who is able to destroy both soul and body in hell." Matthew 10:28

          The BIG question: "What shall I do then with Jesus which is called Christ?" Matthew 27:22b

          Comment

          • Ripon83
            Calguns Addict
            • Jan 2011
            • 6686

            Opinion

            We all have various opinions. I think if you have water, food, security, and energy needs met and want to add PMs for SHTF it's a good thing. Gold is wealth preservation and silver more of a working mans barter in my opinion and many will disagree. I would only be interested in pre 64 US silver coins or one ounce silver coins from a govt mint, Canada, US a few others.

            Pre 64 coins I've bought with WTB Craigslist ads using 80% of coinflation.com prices pretty well when silver was higher then today. Not sure if I'd have to go a higher percentage right now or not as I haven't tried in several months.


            Originally posted by Not a Cook
            Let me apologize in advance for threadjacking: not really trying to, and hopefully I won't annoy you too badly. I'm totally new to buying precious metals, and judging by this thread am hoping that some of the folks here would be willing to help me out. Where would you advise someone like myself start in buying silver for an emergency on-hand stockpile? Why types of coins? Any specific dealers (the San Fernando Valley, Ventura County, and adjacent areas are convenient for me) that you would recommend? Also, if I understand correctly, minimum purchase should be $1,500 so as not to have to pay sales tax, correct? Anything else I should keep in mind? I've read through this thread and some other websites, but assume there is more that I should be considering. Thanks in advance for your help!
            Remember the Mighty Midgets



            Comment

            • sixoclockhold
              Banned
              • Jul 2012
              • 4040

              I buy here in person, an authorized mint purchaser, what does that mean? It means they have the financial ability to transact business with the Feds. It means they sell to coin shops all over the country for their inventory. It means you walk in, plop your cash down and walk out with the coins at a price small coin dealers would. It means when you are ready to sell your coins, you plop them down and they hand you the cash. I buy no where else. Two armed guards always on site for your protection, one outside and one in. Personally I don't worry about silver fakes here, I buy current year coins and bury them or go boating Good luck.

              Oh and if you look at the front page of the website, there are big screens in the store quoting all current prices with usually cnbc running on main screen. You pay or sell based on the time of your transaction. It doesn't get any clearer or informative than that in life.

              American Silver Eagle 1 oz: Popular & Pure Bullion with Low Premiums. In Stock with Live Buy & Sell Quotes. Satisfaction Guaranteed!
              Last edited by sixoclockhold; 01-07-2014, 5:29 AM.

              Comment

              • sixoclockhold
                Banned
                • Jul 2012
                • 4040

                Wag, $1,300 ...no fly zone.

                Interesting both Gold/Silver close the week up and sitting right at their 50 day moving average. Go China Go and blow this lid off Monday !

                Comment

                • sixoclockhold
                  Banned
                  • Jul 2012
                  • 4040

                  Another strong week for PM's, Gold/Silver both above 50 moving average.

                  Now go get the 200 day..............

                  Comment

                  • sixoclockhold
                    Banned
                    • Jul 2012
                    • 4040

                    The deregulation of the financial system during the Clinton and George W. Bush regimes had the predictable result: financial concentration and reckless behavior. A handful of banks grew so large that financial authorities declared them "too big to fail." Removed from market discipline, the banks bec


                    Well written piece and worth a read. Rumors around again the comex could default on delivery of Gold in February. (Won't happen imo because banks will just sell more of someone else Gold they hold in trust) If anything could cause a SHTF moment it could be this as the world begins to realize fiat is worthless and the bankers have robbed everyone of their suspected deposited physical gold.

                    If you don't hold it, you don't own it. The Banks and the Fed, SOLD IT.

                    All aboard, this train is about to ROLL.......

                    Price check Gold $1,255 Silver $20.42
                    Last edited by sixoclockhold; 01-18-2014, 8:45 PM.

                    Comment

                    • therealnickb
                      King- Lifetime
                      CGN Contributor - Lifetime
                      • Oct 2011
                      • 8902

                      Bla bla bla....

                      Comment

                      • sixoclockhold
                        Banned
                        • Jul 2012
                        • 4040

                        Originally posted by therealnickb
                        Bla bla bla....
                        What can I say Nick, I love boating

                        Comment

                        • CaliforniaLiberal
                          #1 Bull Goose Loony
                          CGN Contributor - Lifetime
                          • Jan 2008
                          • 4690

                          Originally posted by Not a Cook
                          Let me apologize in advance for threadjacking: not really trying to, and hopefully I won't annoy you too badly. I'm totally new to buying precious metals, and judging by this thread am hoping that some of the folks here would be willing to help me out. Where would you advise someone like myself start in buying silver for an emergency on-hand stockpile? Why types of coins? Any specific dealers (the San Fernando Valley, Ventura County, and adjacent areas are convenient for me) that you would recommend? Also, if I understand correctly, minimum purchase should be $1,500 so as not to have to pay sales tax, correct? Anything else I should keep in mind? I've read through this thread and some other websites, but assume there is more that I should be considering. Thanks in advance for your help!

                          As has been posted here, you want to have the basics: water, food, warmth, mobility and self defense as well as a 6 month savings in your bank account before you consider Precious Metals.

                          You are far more likely to have a job loss or some personal family crisis than to experience the End of the World As We Know It. Have some savings to protect yourself from the unexpected.

                          Metal prices are fundamentally unpredictable. They are a speculation, not an investment. Forecasts of future prices by experts have been worse than random chance over the years. There is a huge industry focussed on providing BS information in an effort to get people to buy or sell, where profit for the info providers is made from your transactions, not any wise investment decisions.

                          In the first weeks or months of chaos after a SHTF Silver Coins are not likely to be as easily traded as Firearms and especially Ammunition and other necessities. You can't eat Metals. After a certain level of Law and Order and a reliable Food Supply has been reestablished there may be a place for easily recognized Silver and Gold coins in a primitive economy.





                          Precious Metal prices are driven by irrational panic and greed much more than by quantifiable economic statistics. There are far more filthy rich traders who have gotten richer by manipulating the market than there are "little guys" buying or selling less than million dollar quantities of metals.

                          You are the sheep. They are the sheep shearers.

                          Those who think they know what the markets are doing and make sincere predictions are self-deluded. The recent drop in prices was completely unforeseen, un-predicted. Long term, you have better odds at the Roulette Wheel or 21 Table. The Casinos don't charge you an extra fee to place a bet.

                          Never put any money into metals that you can't afford to see shrink by half over the next year.

                          Good Luck.
                          Better Way to Search CalGuns - https://www.google.com/cse/home?cx=0...78:pzxbzjzh1zk
                          CA Bill Search - https://leginfo.legislature.ca.gov
                          California Rifle and Pistol Association - http://crpa.org/
                          Sacramento County Sheriff Concealed Carry Info - Search 'Concealed Weapons Permit Information Sacramento'
                          Second Amendment Foundation - http://www.saf.org
                          Animated US Map Showing Progress of Concealed Carry Laws 1986 to 2021 http://www.gun-nuttery.com/rtc.php

                          Comment

                          • Ripon83
                            Calguns Addict
                            • Jan 2011
                            • 6686

                            In fairness

                            In reading his post he views PMs as a SHTF essential and I can't disagree. Being that silver is now around $20 I can see people still tring to score enough ammo, food or other items adding a little silver in the $20-50 range each month to their stocks.

                            I was 18 when I started as a police officer for $9.5 an hr. Every pay day I'd buy two Canadian silver maple leafs for about $11-12 eventually getting 4 for $20 at each pay day. In my first year I was elated to have bought 80 oz and 70 the next year. I graduated college with no preps, no debts, and 300 oz of silver, my 22s, my service pistols, and deer rifle.

                            Sometimes it makes sense to just apply your savings to something like silver


                            Originally posted by CaliforniaLiberal
                            As has been posted here, you want to have the basics: water, food, warmth, mobility and self defense as well as a 6 month savings in your bank account before you consider Precious Metals.

                            You are far more likely to have a job loss or some personal family crisis than to experience the End of the World As We Know It. Have some savings to protect yourself from the unexpected.

                            Metal prices are fundamentally unpredictable. They are a speculation, not an investment. Forecasts of future prices by experts have been worse than random chance over the years. There is a huge industry focussed on providing BS information in an effort to get people to buy or sell, where profit for the info providers is made from your transactions, not any wise investment decisions.

                            In the first weeks or months of chaos after a SHTF Silver Coins are not likely to be as easily traded as Firearms and especially Ammunition and other necessities. You can't eat Metals. After a certain level of Law and Order and a reliable Food Supply has been reestablished there may be a place for easily recognized Silver and Gold coins in a primitive economy.





                            Precious Metal prices are driven by irrational panic and greed much more than by quantifiable economic statistics. There are far more filthy rich traders who have gotten richer by manipulating the market than there are "little guys" buying or selling less than million dollar quantities of metals.

                            You are the sheep. They are the sheep shearers.

                            Those who think they know what the markets are doing and make sincere predictions are self-deluded. The recent drop in prices was completely unforeseen, un-predicted. Long term, you have better odds at the Roulette Wheel or 21 Table. The Casinos don't charge you an extra fee to place a bet.

                            Never put any money into metals that you can't afford to see shrink by half over the next year.

                            Good Luck.
                            Remember the Mighty Midgets



                            Comment

                            • richie3888
                              Senior Member
                              • Apr 2010
                              • 849

                              Buy in December and sell in May. That's the only way to make money in pm. Unless your plan is to give it to your kids.
                              WTB: Wilson Combat, Les Baer, and TRP with half light rail.

                              Comment

                              • sixoclockhold
                                Banned
                                • Jul 2012
                                • 4040

                                A gold reserve is the gold held by a central bank or nation intended as a "store of value" and as a guarantee to redeem promises to pay depositors, note holders (e.g., paper money), or trading peers, or to secure a currency.



                                Store of Value

                                A recognized form of exchange can be a form of money or currency, or a commodity like gold, silver or financial capital. To act as a store of value, these forms must be able to be saved and retrieved at a later time, and be predictably useful when retrieved.




                                I guess it would be important to understand the millennium long use and love for PM's. Missed the words, water, food, ammo in these descriptions. hmmm

                                Comment

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