Posted on 03/27/2013 5:43:56 AM PDT by blam
You Have To Feel Really Sorry For The Gold And Silver Bulls Today
Joe Weisenthal
March 27, 2013
So Europe is being Europe today. That means that there's political chaos and talk about bank depositor haircuts and all that.
You'd think it'd be a great day for gold and silver.
But gold isn't going anywhere.
Kitco
And here's silver, which got smoked this morning.
KITCO
The love for these assets has really faded.
(Excerpt) Read more at businessinsider.com ...
I’m no fan of gold, but a swing of $10-11 over three days on a $1610 price doesn’t signal anything.
The dip in silver is only 35 cents out of 28 dollars, or about 1.2%.
Might be a buy on silver.
So, this talking down of gold...
is it from the “pump and dump the DJIA” folks?
Yes, we’re going to see Dow 20000, right before we see Dow 5000.
If you’re holding physical metal, none of this means much, especially if you’ve been buying over the last several years.
If your money is into ETF’s or futures, that could be a different story.
For most of us, this don’t mean sh!t.
I was in Odessa Ukraine when the banks closed for a few days. No ATM’s, no debit or credit cards. Nothing but cash. Hirivna, Dollars,Euro,Pounds or Swiss francs....paper money!! .And the local cops enforced legal tender laws. As long as police and military are paid in Paper Euros that will be where the scared money goes. The Europeans know their history.
Until the FED stops flooding the economy with dollars and the inflation is stopped and we go into deflation gold will continue to rise. There is lots of manipulation to harvest funds from individual investors.
Yeah, in a world where Cypriot banks confiscate deposits and the Fed pumps and dumps paper via QE whatever, those people holding real, metal money are just crying in their beer.
I'll be buying another 40 oz of Silver next week - assuming that the paper currency system lasts that long.
It probably will - but one week I'll look and no-one will be accepting paper currency any more.
In prior downdrafts, gold and silver would exhibit forced-margin-liquidation selloffs. That they are not doing that is IMO a bullish sign. IMO gold/silver could lose a little more, but you have to have serious patience with these things. And I agree completely, single digit moves on a $1600 item are sub-noise.
Where do you buy yours?
Don’t feel sorry for the bulls!
I’d love if gold would drop to half price- what a buying opportunity!
meanwhile Ima check out silver!
You can probably do better than Estonia, as (I guess) you don't have to deal with VAT on silver where you are.
I’m not he, but I use:
Provident Metals (sometimes cheapest; in TX - preferred over CA, MD)
California Numismatics (free shipping over $2000)
Apmex (somewhat expensive, but great selection)
Golden Eagle (has Rh, in MD)
Miles Franklin (good people)
I use BullionVault - they have the lowest storage rates I've seen anywhere. A lot of their clientele are US citizens.
Hope this is helpful.
Oh please. I bought silver a few years back at $12. Don’t feel sorry for me.
Good for Joe, hope he’s long paper and doesn’t cry about it when the cows come home to roost... :-)
considering it was over $1700 a month ago....
I buy from a local coin dealer. Cash only, no paper trail....
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