Skip to comments.Precious Metals are Plummeting! [VANITY]
Posted on 04/12/2013 3:36:18 PM PDT by Obama_Is_Sabotaging_America
Wow, look what I noticed today? The European fiscal crisis must have triggered this..
Moderator, please clean-up my ‘[VANITY]’ error in title, thanks.
What were the starting values?
Looks like a buying opportunity to me. LOL.
Gold and silver on the sale discount rack. Limited time offer. Word to the wise.
Not for me I’m poor. :)
Buy silver if you are poor. Get silver dimes.
Broke countries in Europe are being forced to sell their gold in order to lessen the amount of bailout money provided by the EMF.
Silver tracks gold, so it is down as well.
Platinum fell less than gold as a percentage move, largely because it is used in oil refining and catalytic converters (cars) and has industrial demand supporting its price more so than gold or silver.
If you have any money in a savings account, you could take some of that and use some cash money to buy some silver eagles or smaller denominations. If you pay cash to a local dealer of good reputation, then you can be all set for the devaluation of the dollar, and loss of the reserve currency status.
Even saving nickles would be good, since it now costs more than a nickle to make them. When they change the compostion, the nickles will spike up too.
Split the difference, unless you already have all the precious metals you need. Buy some now and buy some on the way down till you get the amount you feel is prudent for a well-balanced portfolio or SHTF - whatever you think you need to do.
I eat Ramen Noodles and eggs. College isn’t good for earning money.
Yep, buy on the dips...
I thought it was ‘frickin’ since he seems to put that word in every sentence he says, being the idiot he is.
Sorry - you are right I should have spelled it out
WHAT THE FRICK?????
Looking at the chart, you may be right.
The 50 day and 200 day MA's are not trade-able. Whipsaws galore.
Better to hold a few of the star mining stocks in equal weight, indefinitely. Less volatile as they make money at a variety of prices, just less of it when the commodity price is down, but still make money.
See me post #14.
Thanks for the information though, I appreciate it.
I bet Soros knew beforehand.
Someone is going to get rich off of this deflation. spooky dude?
I continue to trade fiat pieces of paper for real assets, including gold and silver in order to free my money from the system. Lower prices = better trade.
that’s what i’ve been doing! i turned in about eight of them along
with a few old quarters and halves, and got about thirty dollars before easter!
I was a student once too. However, you can examine your change. If you see dimes/coins dated before 1965 put them in your piggy bank.
Likewise keep all your nickles. It’s a start, and better than nothing.
If you could do it, you might even just keep all your change until you have enough to buy a silver dime, or quarter or what ever.
I believe it is the fed selling naked shorts.
There is a difference between the price for a certificate giving you an unenforceable “right” to take possession of a precious metal someone else claims to possess and paying for gold/silver and taking physical possession of it..
The markets are being manipulated with paper trades that are unlikely to be backed by real gold or silver, i.e. empty vaults and promises.
“I guess Lead with Full Metal Jacket and or other variations of metallic AMMO trumps GOLD.”
Not an either/or choice. Get both. Molon Labe.
I’ll take a look, thanks for the heads up.
Oil futures fell as well.
Here is the two year chart for Silver, which is what I follow most closely. In that period, I believe the high for gold has been in the $1700s per oz. Platinum is generally a little higher than gold, but occasionally below gold if I remember correctly. Well, I have tried twice to transfer the chart from Market Watch, but no luck. Around 20 months ago silver hit a high around $42, then it dropped and mostly hovered between $34 and $32. This is a noticeable drop. Cause? The Xmas Valentines Day season is over. No jewelry until Mothers day. Less silver for photography and industrial purposes, especially given Sequester fears. Any other guesses??
Right. I haven’t bought silver or gold since 2006. I still have some just in case though. I am investing in lead right now and when ammo starts getting more plentiful again, I am going to buy a lot more of it. Basically, I am prepping by stocking up on food, water, and other baterable items because there is only one way all this funny money printing is going to end — badly.
You are welcome.
You can't buy anything with precious metals.
I guess you could transport it to some sort of manufacturing plant that could use it and buy it, but that would require a passport and place it subject to confiscation by the union thugs at TSA.
Gold rush Alaska and their glory hole:
Whoo-hoo! I’m going to be buying some sliver!
Dr. Roberts: Well, I think the power of the West has already been lost. When you have off-shored your manufacturing and professional service jobs, youve hollowed out your economy. So gold or no gold, the United States economy has been severely damaged and I dont think it can recover.
Interesting.. So, there is a ‘false market’ of paper precious metals, not backed by physical metals. Shouldn’t the two be tracked independent of one another? This means the physical value gets short-changed by the stated market value.
An acre of good, tillable American farmland in 1913 cost ~1.4 ounces of gold. In 2008 the same acre cost about ~1.6 ounces of gold.
One could argue that gold is slightly off where it should be. In fact, in the 4 years since 2008, land has actually gone up another thousand or so. I read someplace that it is attractive to conglomerates and kings because it is real and it retains its value fairly well and it is possible to put it to work.
On the other hand, they have driven the price up.
Sounds to me like gold is as good an investment right now even with the price down to 1500.
"They are trying to get people to sell PMs to kill 2 birds with one stone that is when the sheep sell because of the panic they will keep FRNs propped and further they will buy stocks and keep the stock market going.
When the banksters and friends decide that enough money is in the markets they will then short the markets and collapse the stocks and purchase physical PMs thus making themselves much wealthier and the sheep left without wool as they have been fleeced once again.
This may all happen soon so hang on to your physical as you may need it to survive..."
Agree with post 34. A lot of the money in gold is in ETFs, IAU or GLD, and is quick in and out trading. When there is a downturn, a lot of stop loss sales magnify the drop.
The price will firm up at $1450 and likely go back up gradually. This is a buying opportunity if you don’t already have some gold and silver one ounce bullion coins in your gun safe along with some favorite firearms and lots of ammo.
Here’s one opinion. Bubbles will burst
Yes. Manipulated by JP Morgan and others. Google "JP Morgan and silver manipulation" and you'll find plenty online about it.
Some believe the manipulation is also done by per Fed Reserve. If the "official" market price for gold and silver is low, depressed by trades of paper rather than physical, it can make the devalued dollar appear stronger than it really is while the Fed Reserve prints more indefinitely (QE4, 5, 6, etc.). As an added "bonus," depressing the price makes it easier for China to buy more of it.
The sad thing is that some individual investors are duped into selling precious metals in their possession based upon the depressed price of a rigged paper market.
As a practical matter, when you start looking for real precious metals to buy, you'll discover the true market price you'll pay to get physical gold/silver. There's a premium for actually owning it versus having a piece of paper saying you own it.
Former Assistant Treasury Secretary Paul Craig Roberts tells King World News today that the smashing of gold and silver prices is a Federal Reserve campaign to defend the U.S. dollar against a hyperinflationary scenario. "The exchange value of the dollar is threatened," Roberts says, "and if that collapses the Fed loses control over interest rates. Then the bond market blows up, the stock market blows up, and the banks that are too big to fail, fail. So it's an act of desperation because they've got to establish in people's minds that the dollar is the only safe place, it is the only safe haven, not gold, not silver, and not other currencies."