Are Gold and Silver gonna keep going down?

[TheChief]

Just checked, gold is at $1482 and silver is at $25.70 an ounce. These have not been this low in two years.

Thoughts on the next year? Time to buy or time to sell?

[Sig556swat]

My guess is no. Cant see if falling much more. I would and am buying now

[Yugo]

buy buy buy

[TheChief]

90 minutes since my last post:

Gold - $1440/oz
Silver - $24.64/oz

[RonnieP]

Do you honestly think the Dollar is going to last much longer when the feds are printing 80billion/month with no plans on stopping?

[Ripon83]

$1455 a few minutes ago. Looks like a floor at about $1450 for now.

At this level it might be worth selling ammo and buying gold. The later goes up, former gets back to reality, and maybe I can afford shooting again....j/k

[Ripon83]

YES

Yes I do.

1). Yen. The Japanese will be printing up 1/3rd of their GDP this year. We print less than 7%.

2). Euro is still a cluster you know what.

So what choice does the world have for a currency to move $30 trillion in assets? One choice....US Dollar

Do you honestly think the Dollar is going to last much longer when the feds are printing 80billion/month with no plans on stopping?

[RonnieP]

Well, you can go ahead and convert those gold/silver into dollars. I'll keep them in precious metals.

[cpatbay]

All it takes is Iran and North Korea to continue their nuclear path and "someone" start bombing their nuclear facilities ...

[Stormfeather]

Give it a few more days, and see where it goes, if it drops, be prepared to start purchasing.

[baz152]

Yes it will continue to drop. People are starting to get an idea that gold only holds a value because we say it does. If all hell broke loose, I would not trade a roll of T/P for a gold coin let alone a can of food. Gold is a gamble; I am sure a lot of people were wishing that they did not buy gold and rather ammo a year ago (a good example of an item which has value and a use).

Why dont you look at this killer "new" currency named bitcoin too if you like to gamble.

[k1dude]

I suspect it will continue to fall unless a major event happens and reverses the course. Currently gold is at $1,437 and smashing through major resistance levels.

I suspect it will bottom out somewhere between $800 and $1,200 for gold and $15 to $20 for silver. But my guess is as good as yours.

The world's financial problems will eventually play out, and then PM's could go on a tear. So I would jump on buying opportunities.

Right now is like trying to catch a falling knife though.

[TheChief]

Gold - $1414/oz
Silver - $23.82/oz

[RitcheyRch]

Where do you guys buy your gold and silver?

[TheChief]

Local coin shop or jewelry stores. They will charge a fee over spot though.

All the local shops within 15 miles are charging the following.

Sell to you
Gold - 0.10oz - spot +7.5%
Gold - 0.25oz - spot +15%

Silver - 1.0oz - spot + $5
Silver - bulk bars - spot

Note: all the coins are in plastic coin cases

Buy from you
If coin is in good condition then spot price

If you buy online, there will be shipping fees, and different purchase fee levels depending on quantity and payment method. Lot of folks on here seem to like http://www.apmex.com/

Based on my calcs, it only pays to buy online when you are buying in bulk as in $1000 or more.