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Old 04-12-2013, 13:57   #1
Ian Moone
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Watching gold slide

Holy SMOKE ...the love affair with gold seems to have come to an abrupt end.

As of a couple minutes ago ...gold spot price is $1,486.80/oz.
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Old 04-12-2013, 14:25   #2
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I saw the slide back in 1980,

and told everyone it wouldn't last this time and sell while you were ahead,

but got arguments that it will keep going up
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Old 04-12-2013, 14:47   #3
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Yeah well, I remember when it was about $40 per ounce. No, I didn't buy it then - I was a kid in high school focused on making car payments and buying cheap beer.

If I still had that bright yellow Mercury Capri it'd be worth about $40 now.

(but I do have a Porsche 911 now so I am not suffering car-wise)
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Old 04-12-2013, 14:47   #4
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silver's cooling off a bit too. buying opportunity? run screaming into the streets?

i've bought going up. guess i'll buy going down, too.
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Old 04-12-2013, 14:59   #5
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That's the way gold works.

If you had been around to watch it in 1980 you'd have your money invested elsewhere right now.
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Old 04-12-2013, 15:25   #6
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Old 04-12-2013, 15:42   #7
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Apparently ammo going to be the new PM--when that market crashes it will be interesting.
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Old 04-12-2013, 15:43   #8
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That's the way gold works.

If you had been around to watch it in 1980 you'd have your money invested elsewhere right now.
By that reasoning you should stay out of the stock market too.
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Old 04-12-2013, 15:55   #9
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What were the spot prices back a few years ago before the sky started falling?
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Old 04-12-2013, 16:24   #10
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www.macrotrends.org/1333/gold-and-silver-prices-100-year-historical-chart

Speaking of bubbles, I can remember two or three times during the past 30 years when coworkers borrowed against their homes to buy stocks. For 95% of them it didn't work out well at all.
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Old 04-12-2013, 16:44   #11
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By that reasoning you should stay out of the stock market too.
Gold and the stock market are two distinctly different systems.

I hope you're not investing much if you don't understand that.
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Old 04-12-2013, 17:07   #12
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Gold and the stock market are two distinctly different systems.

I hope you're not investing much if you don't understand that.
And real estate is a different system. Do you have a point?
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Old 04-12-2013, 17:53   #13
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Old 04-12-2013, 17:58   #14
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http://kingworldnews.com/kingworldne...h_In_Gold.html
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Old 04-12-2013, 17:58   #15
Jim in MI
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I bought mine from $400 to $450

I paid $4.50/oz for my silver

I am not buying gold now, but paying off debt to save on the interest.
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Old 04-12-2013, 18:10   #16
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silver's cooling off a bit too. buying opportunity? run screaming into the streets?

i've bought going up. guess i'll buy going down, too.
It would be a buying opportunity but dealers haven't adjusted their prices downward, just raised the premiums so an oz of gold or silver still costs the same today as it did weeks ago. Stop worrying about the paper based spot price. It's irrelevant.
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Old 04-12-2013, 18:45   #17
Dennis in MA
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F gold. Petroleum is dropping too. Prices need to get back to normal.
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Old 04-12-2013, 18:47   #18
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Stores that don't adjust their prices based on spot price are in denial. They think it they just wait a week prices will go back up. What are they going to do if prices keep dropping? They will then end up selling for an even bigger loss. A real dealer makes his profit off buying and sell repeatedly. If prices start dropping you sell your inventory fast and buy new product at the new lower price. And sell that product and buy more. In the end you will earn more money then if you just held on to the item for months waiting for the price to go back up.
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Old 04-12-2013, 18:48   #19
Dennis in MA
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In the last 4 years the stock market has risen by 2.3x.

Gold is only up 1.6x. Gold sucks. Market rocks. Prove me wrong. Come at me, bro.
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Old 04-12-2013, 18:57   #20
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Quote:
Originally Posted by Dennis in MA View Post
In the last 4 years the stock market has risen by 2.3x.

Gold is only up 1.6x. Gold sucks. Market rocks. Prove me wrong. Come at me, bro.
Good one Dennis! Let me guess... The market is up so much because it was down so much?

How much is the market up in the last 13 years? "Lies, damned lies, and statistics."

Wasn't it you saying that gold is falling because nobody is buying? Well, China has bought an estimated 800 tons of gold this year - and (like Russia) they also keep everything they mine. Somebody is interested in gold (not to mention Russia, India, and middle east countries). You have to wonder how long it will be before China issues a gold-backed Yuan?

Naked short selling to route bullion holders is not a 'market'. It's a fraud perpetrated by the FED and it's bullion banks. To protect the dollar and keep interest rates at zero - to protect to big to fail banks.

As for the stock market - I wonder where it would be sans QE of $1T per year?
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Old 04-12-2013, 19:11   #21
Dennis in MA
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No. I get to set the time period. And with my time period, I'm right and you are wrong. Period! Lol

You want to go longer? How about 1980 to present? 1920 to present. Come at me, bro!


Yes, I'm just flinging poo. Payback sucks. Lol
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Old 04-12-2013, 19:14   #22
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Quote:
Originally Posted by Dennis in MA View Post
No. I get to set the time period. And with my time period, I'm right and you are wrong. Period! Lol

You want to go longer? How about 1980 to present? 1920 to present. Come at me, bro!


Yes, I'm just flinging poo. Payback sucks. Lol
Pay no attention to the wind in you hair Dennis (as my point passes over). You are making my point. Cherry picking can make anyone look good. I hope you (and I'm sure you are) being honest with your clients.
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Old 04-12-2013, 19:29   #23
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It would be a buying opportunity but dealers haven't adjusted their prices downward, just raised the premiums so an oz of gold or silver still costs the same today as it did weeks ago. Stop worrying about the paper based spot price. It's irrelevant.
This is what I noticed today, plus a lot of out of stock items.

Kitco had 10 oz Sunshine Mint bars at $274.50, but the website says "Due to high demand, this product is only available outside of the US."

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Old 04-12-2013, 21:24   #24
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The economies in Europe and elsewhere have cooled significantly and it's my opinion that central banks have been net sellers. And while we'll have inflation eventually with all the cheap capital, it's awfully tough to have inflationary pressures when economies are soft and consumer is tightening their belts. It's my opinion that over the short term, gold will continue to retrace.
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Old 04-12-2013, 21:54   #25
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Ha ha ha.

Gold got smacked down because Cyprus just handed over 10 tons of it at bargain basement prices. Ask yourselves this question. Why does the ECB want gold? Because it is the ultimate store of value.
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