Home Forums Classifieds Blogs Today's Posts Search Social Groups



  
SIGN-UP
Notices

Glock Talk
Welcome To The Glock Talk Forums.

 
  
Reply
 
Thread Tools Display Modes
Old 06-27-2013, 21:30   #1
RMTactical
CLM Number
www.AR15pro.net
 
RMTactical's Avatar
 
Join Date: Oct 2000
Location: Behind an AR-15
Posts: 29,890


What's everyone's take on the precious metals nosedive?

Just wondering what your thoughts are here in S&PF
RMTactical is offline   Reply With Quote
Old 06-27-2013, 21:59   #2
bdcochran
Senior Member
 
Join Date: Sep 2005
Location: Los Angeles
Posts: 2,696
Three basic uses of gold:

manufacturing;

hedge against inflation;

consumption.

Most of the US demand is hedge. The Chinese demand is for consumption, as jewelry. Ditto for the East Indians.

China is undergoing a belt tightening right now. Interest rates are rising. Cheap labor production is shifting to Vietnam, Bangladesh, and India. There are purportedly 4,000,000 vacant apartments in Bejing as the real estate investment has tanked. The Central Government is taking a harder look at municipalities issuing bonds and banks making bad loans. So, if you are a Chinese businessman, you have to be a little unsure that you should go buy jewelry for the wife, for the marriage dowry or whatever.

If you simply looked at the building inflation in the US (the government has deliberately tinkered with the formulation of the CPI over the last 20 years), you would think that gold prices would be going up.

So. Like so many other things - buy ammo, buy gold, buy silver, buy land, go into plastics (movie - The Graduate), yatta yatta, you take risks in this world.
bdcochran is offline   Reply With Quote
Old 06-27-2013, 22:09   #3
Texanmile
Senior Member
 
Join Date: Mar 2011
Posts: 196
Well, Glenn Beck made his money...

Well... all the conservative commentators scaring elderly and easily influenced watchers have gotten their cut from Goldline and the other companies, selling at high prices.

I feel bad for the folks who bought the hype.
Texanmile is offline   Reply With Quote
Old 06-27-2013, 22:13   #4
Texanmile
Senior Member
 
Join Date: Mar 2011
Posts: 196
... on that note there are a lot of folks with 800 dollar rifles they paid 3K for right now...

Fear is quite the sales tactic... and people keep getting "scared" no matter how many times the ones doing the scaring are proven wrong.
Texanmile is offline   Reply With Quote
Old 06-28-2013, 00:27   #5
John Rambo
Raven
 
Join Date: Feb 2010
Location: Tampa, Fl.
Posts: 9,606
Quote:
Originally Posted by RMTactical View Post
Just wondering what your thoughts are here in S&PF
Well, see...they're going down. And later on, they'll go back up...until they go back down again...but after that they'll go back up.
John Rambo is offline   Reply With Quote
Old 06-28-2013, 01:46   #6
RMTactical
CLM Number
www.AR15pro.net
 
RMTactical's Avatar
 
Join Date: Oct 2000
Location: Behind an AR-15
Posts: 29,890


Quote:
Originally Posted by John Rambo View Post
Well, see...they're going down. And later on, they'll go back up...until they go back down again...but after that they'll go back up.
Of course.
RMTactical is offline   Reply With Quote
Old 06-28-2013, 03:11   #7
IV Troop
Senior Member
 
Join Date: Jun 2004
Posts: 1,171
Great time to buy....
__________________
There is no room in this country for hyphenated Americanism. When I refer to hyphenated Americans, I do not refer to naturalized Americans. Some of the very best Americans I have ever known were naturalized Americans, Americans born abroad. But a hyphenated American is not an American at all.THEODORE ROOSEVELT: 1915
IV Troop is offline   Reply With Quote
Old 06-28-2013, 06:16   #8
UneasyRider
C.D.B.
 
UneasyRider's Avatar
 
Join Date: Dec 2005
Posts: 4,761
I think that paper traders set the price. As such when George Soros started the sell off on paper the price went down as the paper sell of continued. Holding U.S. paper being a poor choice for security, like holding gold paper, if the big players like Soros want security they will want physical gold.

So looking at Soros history of currency manipulation I would not be surprised if he bought physical gold when the price gets low enough for him.

But what do I know...
__________________
"Freedom ain't Free" Ted Nugent at the House of Blues in Orlando.

"Both oligarch and tyrant mistrust the people, and therefore deprive them of arms." - Aristotle,
UneasyRider is offline   Reply With Quote
Old 06-28-2013, 08:25   #9
pugman
Senior Member
 
pugman's Avatar
 
Join Date: May 2003
Location: Wisconsin
Posts: 6,238
Hard to tell.

If you look at ebay and the sales of junk silver prices are still hovering in the $24-$25 range for silver.

I watch a lot of auctions. Some guy just had about a dozen large sales of silver dimes and quarters. 1100 silver dimes which "should" have sold in the $1500 range went for $2200. He also had sales of 1300+ quarters which again should have sold in the $4400 range selling for over $5,000. In this aspect, I think people are taking it as a chance to convert dollars to some sort of physical asset. Literally, all the junk silver sales are going for more than they should when compared to spot prices. In general sales are running 15-20% over spot.

The funny thing is I told friends if silver got below $20 its a nice time to buy...problem is you can't buy silver at $20.
__________________
Now when asked when I think things will change I answer "The next time Thomas (aka the fed) robs Peter (aka the 53%) to pay Paul (aka the 47%) and Peter pulls a gun...things will change"
pugman is offline   Reply With Quote
Old 06-28-2013, 09:22   #10
Morris
CLM Number
Charter Lifetime Member
 
Join Date: Apr 2001
Location: North of Seattle, South of Canada
Posts: 11,721


Quote:
The funny thing is I told friends if silver got below $20 its a nice time to buy...problem is you can't buy silver at $20.
That is true. Most places are running about $4-$5 over spot for sales of silver. I take that into account when I buy.

As to the original question, I think others have posted correctly. It's a dip and I intend to take advantage of it in a reasonable way.
__________________
Neo-pagan, FORMER Libertarian, Cop, Gun Owner, Jewish Heritage - I'm the small talk at parties!

Certified Glock Armorer
Certified M&P Armorer

One day closer to retirement . . .
Morris is offline   Reply With Quote
Old 06-28-2013, 09:23   #11
wjv
Senior Member
 
wjv's Avatar
 
Join Date: Jan 2002
Location: Pacific NW
Posts: 13,144
Now it will take 50% more silver to hire a hooker. . .
__________________
Bill
Pacific NW


The urge to save humanity is almost always a false-face for the urge to rule it.
- H. L. Mencken -
wjv is offline   Reply With Quote
Old 06-28-2013, 09:33   #12
cowboywannabe
you savvy?
 
cowboywannabe's Avatar
 
Join Date: Jan 2001
Location: on a planet near you
Posts: 22,356
if you buy it for the short term gain you will most likely loose.... look at the 20 year span.
__________________
with Sarah Jane, Leela, Romana, Nyssa, and Tegan.

Facts are no match against enthusiasm and ignorance...
cowboywannabe is offline   Reply With Quote
Old 06-28-2013, 13:37   #13
fastbolt
Senior Member
 
fastbolt's Avatar
 
Join Date: Jun 2002
Location: Within the lightning (Northern CA)
Posts: 10,195
I think there's always going to be a lot of hype involved in gold & silver.

I think that some folks who buy it for apocalyptic & societal/monetary system collapse reasons aren't seeing the real big picture in their future fear scenarios.

My silver is worth more than I paid for it 25+ years ago. If I'd have bought a couple hundred pounds of it back then, it might be worthwhile by now.

The gold jewelry I have from the 60's is worth more than when I bought it, but the purchasing power of the equivalent dollar value, if I were to convert the jewelry into today's cash? Not rushing out to sell my gold jewelry.

Hedge? Sure. Why not? Long term. Really long term. I'd not sell the farm to turn it into gold, though.

Put it away for your kids in their middle age. Let them figure out the practical value of it at that time.

Remember the example of how a $20 gold piece could buy a suit in the early 1900's, and how the value of the same gold piece could buy an equivalent suit at today's values for both the gold piece and the suit?

I think some of my comic books have increased more in value.
__________________
Sub Club #9; .40 S&W Club #1953; S&W Club #3913
Retired LE - firearms instructor/armorer
fastbolt is offline   Reply With Quote
Old 06-28-2013, 14:31   #14
SFCSMITH(RET)
Senior Member
 
SFCSMITH(RET)'s Avatar
 
Join Date: Sep 2009
Location: Central Kentucky
Posts: 2,360
Can't eat it, drink it, shoot it or plant it.

What little I have is accidental.

So what the "market" does, or, does not do, is just news, nothing more.
__________________
RIP Dakota Bob. Best damn dog to ever pee on a tire. '99-'13.

Last edited by SFCSMITH(RET); 06-28-2013 at 14:32..
SFCSMITH(RET) is offline   Reply With Quote
Old 06-28-2013, 14:35   #15
Batesmotel
Senior Member
 
Batesmotel's Avatar
 
Join Date: Apr 2007
Location: Utah
Posts: 13,909
Quote:
Originally Posted by bdcochran View Post
There are purportedly 4,000,000 vacant apartments in Bejing as the real estate investment has tanked.
Tip of the iceberg. They built a false economy based on construction. There are entire cities with universities, power plants, hospitals, air fields and no people. Just built to boost the economy by paying workers. House of cards that is about to collapse.
__________________
It's smaller on the outside.
Batesmotel is offline   Reply With Quote
Old 06-28-2013, 15:29   #16
Brian Lee
Drop those nuts
 
Brian Lee's Avatar
 
Join Date: Jul 2008
Location: Up a tree.
Posts: 8,304
Over the past 35 years I've noticed that every time we go through a period of advertisers trying real hard to sell people on investing in gold, it's usually followed by a sudden crash in the price that takes a few years to recover.
Brian Lee is online now   Reply With Quote
Old 06-29-2013, 05:22   #17
pugman
Senior Member
 
pugman's Avatar
 
Join Date: May 2003
Location: Wisconsin
Posts: 6,238
Quote:
Originally Posted by Batesmotel View Post
Tip of the iceberg. They built a false economy based on construction. There are entire cities with universities, power plants, hospitals, air fields and no people. Just built to boost the economy by paying workers. House of cards that is about to collapse.
+1

Remember it was not that long ago China was building 8 cities the size of Manhatten every year.
__________________
Now when asked when I think things will change I answer "The next time Thomas (aka the fed) robs Peter (aka the 53%) to pay Paul (aka the 47%) and Peter pulls a gun...things will change"
pugman is offline   Reply With Quote
Old 06-29-2013, 05:53   #18
Aceman
Senior Member
 
Aceman's Avatar
 
Join Date: Nov 2008
Location: Tampa
Posts: 6,675
Precious metals will ultimately NOT collapse. I think in the long run, Silver is even better than gold. PAper, particularly US paper, on the other hand - not looking so good long term.

So a down is a good buy time.

I also think you need to keep it balanced (whatever balance is for you).
Aceman is offline   Reply With Quote
Old 06-29-2013, 06:38   #19
Haldor
Retired EE
 
Haldor's Avatar
 
Join Date: Oct 2006
Location: Central Arizona
Posts: 6,261
Near term forecast is for gold to drop to $1000. I am going in big when it does (25% of liquid assets).

In general, investors are like a herd of nervous cattle at night. Bolt of lightning (hint that the fed might back off pumping money into the economy) and everybody stampedes off a cliff.

I am not into PM for short term gain, but rather to protect my assets from significant loss (hyper-inflation, currency devaluation). Ask people in Argentina if they wish they had put their money in Gold before things fell apart.
__________________
Quote:
Guys! Guys! He's down! Stop kicking him! If he shows up on another thread, Tasers are indicated, but for now, let him slink off into the shadows to lick his wounds and ponder how deeply cool and misunderstood he is!
Hoot nred Mrs. Vr.
Haldor is offline   Reply With Quote
Old 06-29-2013, 10:56   #20
Ruble Noon
"Cracker"
 
Join Date: Feb 2009
Posts: 11,018
Quote:
Originally Posted by Haldor View Post
Near term forecast is for gold to drop to $1000. I am going in big when it does (25% of liquid assets).

In general, investors are like a herd of nervous cattle at night. Bolt of lightning (hint that the fed might back off pumping money into the economy) and everybody stampedes off a cliff.

I am not into PM for short term gain, but rather to protect my assets from significant loss (hyper-inflation, currency devaluation). Ask people in Argentina if they wish they had put their money in Gold before things fell apart.
If you can find it. The price has gone down but the demand for physical, hold in your hand, PM's has not.
Ruble Noon is offline   Reply With Quote

 
  
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump




All times are GMT -6. The time now is 09:15.




Homepage
FAQ
Forums
Calendar
Advertise
Gallery
GT Wiki
GT Blogs
Social Groups
Classifieds


Users Currently Online: 949
280 Members
669 Guests

Most users ever online: 2,672
Aug 11, 2014 at 2:31