Investing in silver/gold other precious metals (1 Viewer)

[bueno]

There are those of us who know how to invest and those of you who have to work in hell holes like Saudi Arabia to pay the bills.

Man, have you always been this big of a ####head?

, S

Yeah, I meant you!

 

[bueno]

Here's a 10 year chart on gold

http://goldprice.org..._year_o_usd.png

People will tell you that gold is a no brainer investment because it can only go one direction, up (can't you read the chart?!)

5 years ago I was looking at similar charts for housing.

Charts don't tell the whole story, and unless you know how to read them and some other technical analysis trick, you won't make the right investments just following charts and fear. Demand is actually increasing and out-stripping supply. According to UBS, Chinese gold demand exceeded 7.05 million ounces in the first two months of 2011 alone - that is 47% of gold production in that same time frame. It is inflation-driven buying, and it doesn't even include the gold the Central Bank is buying to replace their deflating dollars.China's largest bank by market capitalization started a physically-backed gold savings accounts in December with the World Gold Council. Account openings have already surpassed 1 million, with more than 12 tonnes of gold already stored on behalf of investors.

Gold will hit $2000 early next year. Gold stocks will outperform the metal.

However one place I wouldn't put my $$ is in the following stocks: GFI, AU, GOLD. Here's why.

 

[bueno]

Here's a 10 year chart on gold

http://goldprice.org..._year_o_usd.png

People will tell you that gold is a no brainer investment because it can only go one direction, up (can't you read the chart?!)

5 years ago I was looking at similar charts for housing.

I was honking gold way back on old yellar...hell, I might have been BEFORE BGP (though not nearly as vocal or fanatical about it). I also started a thread (now pruned) broadcasting "SILVER as the new RAGE" when it was dirt dirt cheap. I've made nice sums of money in gold and silver stocks over the last decade. Familiy and friends who listened and followed along did well too.And I'll grant you that it's been a long run now and that the charts look parabolic and that all parabolas end in tears and end in a hurry, much like any bubble that pops. And at some point, this bubble too will pop. But not this year. And not any time soon. And to compare it to housing just isn't the comparison to make. IMO. Apples and oranges here. Housing was a symptom of greed. Gold is a symptom of fear. Fear will always overpower greed. If you think the worst is over with $4 gas, rising health care and looming inflation, then by all means, sell your gold and silver. Lotta buyers and the buyers are higher.

Hey GBGM, when you think might be a good time to jump back in to uranium?

Last September. Uranium is retrenching right now. Not part of the portfolio.

 

[General Malaise]

Here's a 10 year chart on goldhttp://goldprice.org/charts/history/gold_10_year_o_usd.pngPeople will tell you that gold is a no brainer investment because it can only go one direction, up (can't you read the chart?!)5 years ago I was looking at similar charts for housing.

I was honking gold way back on old yellar...hell, I might have been BEFORE BGP (though not nearly as vocal or fanatical about it). I also started a thread (now pruned) broadcasting "SILVER as the new RAGE" when it was dirt dirt cheap. I've made nice sums of money in gold and silver stocks over the last decade. Familiy and friends who listened and followed along did well too.And I'll grant you that it's been a long run now and that the charts look parabolic and that all parabolas end in tears and end in a hurry, much like any bubble that pops. And at some point, this bubble too will pop. But not this year. And not any time soon. And to compare it to housing just isn't the comparison to make. IMO. Apples and oranges here. Housing was a symptom of greed. Gold is a symptom of fear. Fear will always overpower greed. If you think the worst is over with $4 gas, rising health care and looming inflation, then by all means, sell your gold and silver. Lotta buyers and the buyers are higher.

Hey GBGM, when you think might be a good time to jump back in to uranium?

Good question. Its obviously taken a breather and actually sold off, which has impacted the stocks. But I continue to believe it's going to head higher this year. I'd keep a close eye on some of the names you've been following and put some mental levels in place...points where YOU would feel comfortable buying again (and that point is different for all). Good luck!

 

[Jojo the circus boy]

Just sold my 1oz AGE on Nucleo Exchange for 71% ROI, expect the price of gold to skyrocket tomorrow morning

 

[Jojo the circus boy]

brought my coin in to work today so I could mail it. Asked two coworkers what they thought it was worth, the first guy said $200, the second one from Colombia said $100

 

[DiStefano]

Gold at $1450. I'm richer today.

 

[The Ref]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

 

[Random]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

Ref, I get the theory, but I'm not sure I agree with it. Unless you're buying your milk or gas or clothes or Big Mac in Yen, you ARE richer today than yesterday (assuming you sell your gold/silver for US$ to purchase those items). Everyone else stayed the same. What am I missing?

 

[The Ref]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

Ref, I get the theory, but I'm not sure I agree with it. Unless you're buying your milk or gas or clothes or Big Mac in Yen, you ARE richer today than yesterday (assuming you sell your gold/silver for US$ to purchase those items). Everyone else stayed the same. What am I missing?

If an oz of gold goes up 10% in one day, and the price of Milk or Gas goes up the same 10% in one day you have gained nothing.

 

[Random]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

Ref, I get the theory, but I'm not sure I agree with it. Unless you're buying your milk or gas or clothes or Big Mac in Yen, you ARE richer today than yesterday (assuming you sell your gold/silver for US$ to purchase those items). Everyone else stayed the same. What am I missing?

If an oz of gold goes up 10% in one day, and the price of Milk or Gas goes up the same 10% in one day you have gained nothing.

Right, I get that. But in reality is everything (gas was a bad example as its influenced by the price of oil) going to be 1.5% more expensive tomorrow?

 

[DiStefano]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

Ref, I get the theory, but I'm not sure I agree with it. Unless you're buying your milk or gas or clothes or Big Mac in Yen, you ARE richer today than yesterday (assuming you sell your gold/silver for US$ to purchase those items). Everyone else stayed the same. What am I missing?

If an oz of gold goes up 10% in one day, and the price of Milk or Gas goes up the same 10% in one day you have gained nothing.

Bull####. If the price of one ounce of gold goes up from $1400 to $1540, I have made $140. If the price of milk goes from $3.00 to $3.30, I will have lost 15 cents, provided I drink 2 quarts. If the price of gas goes from $4.00 to $4.40, I will have lost $6.00, if I fill my tank by putting in 15 gallons.

 

[bueno]

Here's a 10 year chart on gold

http://goldprice.org..._year_o_usd.png

People will tell you that gold is a no brainer investment because it can only go one direction, up (can't you read the chart?!)

5 years ago I was looking at similar charts for housing.

I was honking gold way back on old yellar...hell, I might have been BEFORE BGP (though not nearly as vocal or fanatical about it). I also started a thread (now pruned) broadcasting "SILVER as the new RAGE" when it was dirt dirt cheap. I've made nice sums of money in gold and silver stocks over the last decade. Familiy and friends who listened and followed along did well too.And I'll grant you that it's been a long run now and that the charts look parabolic and that all parabolas end in tears and end in a hurry, much like any bubble that pops. And at some point, this bubble too will pop. But not this year. And not any time soon. And to compare it to housing just isn't the comparison to make. IMO. Apples and oranges here. Housing was a symptom of greed. Gold is a symptom of fear. Fear will always overpower greed. If you think the worst is over with $4 gas, rising health care and looming inflation, then by all means, sell your gold and silver. Lotta buyers and the buyers are higher.

Hey GBGM, when you think might be a good time to jump back in to uranium?

Good question. Its obviously taken a breather and actually sold off, which has impacted the stocks. But I continue to believe it's going to head higher this year. I'd keep a close eye on some of the names you've been following and put some mental levels in place...points where YOU would feel comfortable buying again (and that point is different for all). Good luck!

And then we got a tsunami..... The best laid plans......

 

[Buddy Ball 2K3]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

 

[The Ref]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

It sure is, let me give you my number.....

 

[PIK95]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

Sounds familiar. I sold there though.

 

[Buddy Ball 2K3]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

Sounds familiar. I sold there though.

So you are saying I should HOLD? I am not desperate for cash, however I just dont want to be the greedy pig.

 

[Hipple Long Ware & Peete]

Only morons are buying these metals right now. Based largely in paranoia, and often from a shady source that is misleading them in some way.

what part of buy low sell high is unclear here. Precious metals have to be artificially overvalued at this point due to fear mongerring etc.

Hell Glen Beck being off the air might literally affect the gold market as that's one less guy screaming at you to buy gold because he is sure your nation is a few weeks from being Ancient Sparta, or Atlantis if that 2012 mayan tripe is more your style. .

 

[The Ref]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

Sounds familiar. I sold there though.

So you are saying I should HOLD? I am not desperate for cash, however I just dont want to be the greedy pig.

I don't have a crystal ball. My answer to you is it may be time to reballance. If you wanted 5% of your wealth in Silver and you now have 10% I would say there is nothing wrong with selling off 5% and buying something else with it.

 

[Random]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

Sounds familiar. I sold there though.

So you are saying I should HOLD? I am not desperate for cash, however I just dont want to be the greedy pig.

I don't have a crystal ball. My answer to you is it may be time to reballance. If you wanted 5% of your wealth in Silver and you now have 10% I would say there is nothing wrong with selling off 5% and buying something else with it.

Thats the problem, what else would you put your $ in right now?

 

[The Ref]

Only morons are buying these metals right now. Based largely in paranoia, and often from a shady source that is misleading them in some way.what part of buy low sell high is unclear here. Precious metals have to be artificially overvalued at this point due to fear mongerring etc. Hell Glen Beck being off the air might literally affect the gold market as that's one less guy screaming at you to buy gold because he is sure your nation is a few weeks from being Ancient Sparta, or Atlantis if that 2012 mayan tripe is more your style. .

You might be right. You seem awful confidant. Maybe you should consider shorting?

 

[Buddy Ball 2K3]

I bought several pounds worth of silver eagles and some bullion when it was $17-20/oz. So is it time to sell my silver?

Sounds familiar. I sold there though.

So you are saying I should HOLD? I am not desperate for cash, however I just dont want to be the greedy pig.

I don't have a crystal ball. My answer to you is it may be time to reballance. If you wanted 5% of your wealth in Silver and you now have 10% I would say there is nothing wrong with selling off 5% and buying something else with it.

Thats the problem, what else would you put your $ in right now?

So if the other poster is 100% right and that precious metals are way over priced because of fear in the economy, then I guess the play is to purchase more? I really do not see people all of the sudden feeling good about whats going on. Will they start buying copper as well since in relation to the cost of gold and silver is rather cheap?

 

[Random]

Copper is industrial and is associated with recovery. And even when building picks up, I'm not sure people are going to be using copper for plumbing anymore (at least not at the rate they used to) because Pex is so stinking sweet.

 

[DiStefano]

Gold at $1450. I'm richer today.

Actualy if you belive in Gold as money you are no richer today then yesterday. That said everyone else around you is poorer who transacts in USD.

Ref, I get the theory, but I'm not sure I agree with it. Unless you're buying your milk or gas or clothes or Big Mac in Yen, you ARE richer today than yesterday (assuming you sell your gold/silver for US$ to purchase those items). Everyone else stayed the same. What am I missing?

If an oz of gold goes up 10% in one day, and the price of Milk or Gas goes up the same 10% in one day you have gained nothing.

Bull####. If the price of one ounce of gold goes up from $1400 to $1540, I have made $140. If the price of milk goes from $3.00 to $3.30, I will have lost 15 cents, provided I drink 2 quarts. If the price of gas goes from $4.00 to $4.40, I will have lost $6.00, if I fill my tank by putting in 15 gallons.

I'm even richer today. Gold at $1,563 because the market has tumbled to the fact that the Fed doesn't care about inflation.

 

[General Malaise]

Here's a 10 year chart on gold

http://goldprice.org..._year_o_usd.png

People will tell you that gold is a no brainer investment because it can only go one direction, up (can't you read the chart?!)

5 years ago I was looking at similar charts for housing.

I was honking gold way back on old yellar...hell, I might have been BEFORE BGP (though not nearly as vocal or fanatical about it). I also started a thread (now pruned) broadcasting "SILVER as the new RAGE" when it was dirt dirt cheap. I've made nice sums of money in gold and silver stocks over the last decade. Familiy and friends who listened and followed along did well too.And I'll grant you that it's been a long run now and that the charts look parabolic and that all parabolas end in tears and end in a hurry, much like any bubble that pops. And at some point, this bubble too will pop. But not this year. And not any time soon. And to compare it to housing just isn't the comparison to make. IMO. Apples and oranges here. Housing was a symptom of greed. Gold is a symptom of fear. Fear will always overpower greed. If you think the worst is over with $4 gas, rising health care and looming inflation, then by all means, sell your gold and silver. Lotta buyers and the buyers are higher.

Hey GBGM, when you think might be a good time to jump back in to uranium?

Good question. Its obviously taken a breather and actually sold off, which has impacted the stocks. But I continue to believe it's going to head higher this year. I'd keep a close eye on some of the names you've been following and put some mental levels in place...points where YOU would feel comfortable buying again (and that point is different for all). Good luck!

And then we got a tsunami..... The best laid plans......

Ooops, nuclear catastrophe.

 

[The Ref]

The longer this goes on the more I start to think that some of the$5K an oz tin foil hats are not as crazy as some would think. Every time THE BERNANKE opens his mouth gold goes up $20.

 

[bueno]

Only morons are buying these metals right now. Based largely in paranoia, and often from a shady source that is misleading them in some way.what part of buy low sell high is unclear here. Precious metals have to be artificially overvalued at this point due to fear mongerring etc. Hell Glen Beck being off the air might literally affect the gold market as that's one less guy screaming at you to buy gold because he is sure your nation is a few weeks from being Ancient Sparta, or Atlantis if that 2012 mayan tripe is more your style. .

The only thing that is going to cause gold and silver to decrease in value is firing Bernake.

 

[Britney Spears]

Big time (pod)

 

[uconnalum]

Call Me Nuts but I just jumped on the bandwagon. Bought a 1 ounce gold bar at a US Assets Seizure auction at 100 dollar discount paid 1450 for it. I also bought 10 ounces of silver for 450 dollars.

Here is the bar.

1oz Gold Bar

 

[Jojo the circus boy]

OK, after Silver plunging 15% today mostly due to economic fears since the majority of silver is used for industrial purposes, I decided to get back into the game.

I have had good luck with my previous gold and silver purchases with ROI's of 71% and 32% respectively.

Picked up 100 oz of American Silver Eagles @ $34 a coin (spot was at about $31).

I will add another 100 more or so if it continues to drop in the coming days/weeks.

 

[Jojo the circus boy]

OK, after Silver plunging 15% today mostly due to economic fears since the majority of silver is used for industrial purposes, I decided to get back into the game.I have had good luck with my previous gold and silver purchases with ROI's of 71% and 32% respectively.Picked up 100 oz of American Silver Eagles @ $34 a coin (spot was at about $31).I will add another 100 more or so if it continues to drop in the coming days/weeks.

up 6.5% today so far

 

[The Ref]

OK, after Silver plunging 15% today mostly due to economic fears since the majority of silver is used for industrial purposes, I decided to get back into the game.I have had good luck with my previous gold and silver purchases with ROI's of 71% and 32% respectively.Picked up 100 oz of American Silver Eagles @ $34 a coin (spot was at about $31).I will add another 100 more or so if it continues to drop in the coming days/weeks.

up 6.5% today so far

Well done. Buy the dips.

 

[Jojo the circus boy]

OK, after Silver plunging 15% today mostly due to economic fears since the majority of silver is used for industrial purposes, I decided to get back into the game.I have had good luck with my previous gold and silver purchases with ROI's of 71% and 32% respectively.Picked up 100 oz of American Silver Eagles @ $34 a coin (spot was at about $31).I will add another 100 more or so if it continues to drop in the coming days/weeks.

I added another 89 two days ago @ 34.5/coinPicked up 50 casino tokens today for @ $20.93/token (each token is .6 oz of silver), mostly because I think they are cool - seems like they have a decent variety and I want to find a cool 1 to use as a card protector for poker.Here's where I bought the casino coins:http://www.providentmetals.com/casino-gaming-tokens-999-silver.htmlup to about 219 ounces Ag

 

[⚡DEADHEAD⚡]

Best way to buy an oz or two of gold?

 

[Warrior]

Best way to buy an oz or two of gold?

Local gold dealer...or eBay. Expect to pay a large premium on the actual value of the gold, basically putting you in a hole from the get-go.

 

[Mr. Retukes]

Gold will hit $2000 early next year.

Update?

 

[Jojo the circus boy]

Best way to buy an oz or two of gold?

IMO, join their nucleo exchange:

http://www.bulliondirect.com/

Since if you ever want to sell it again you will already be setup with an account from them. You can either take physical delivery yourself or let them hold it for you.

Also I highly recommend buying gold half-ounce eagle coins, they retain their value well and are very easy to flip with minimal loss when you are ready.

Bid/Ask spread from Nucleo: $619.00 / $630.00

BullionDirect "Catalog" sell price: $653.92

APMEX:

Qty Check or Wire / Credit Card

1 - 9 $660.87 / $680.70

EBay completed listings: $680-700

 

[⚡DEADHEAD⚡]

Best way to buy an oz or two of gold?

IMO, join their nucleo exchange:

http://www.bulliondirect.com/

Since if you ever want to sell it again you will already be setup with an account from them. You can either take physical delivery yourself or let them hold it for you.

Also I highly recommend buying gold half-ounce eagle coins, they retain their value well and are very easy to flip with minimal loss when you are ready.

Bid/Ask spread from Nucleo: $619.00 / $630.00

BullionDirect "Catalog" sell price: $653.92

APMEX:

Qty Check or Wire / Credit Card

1 - 9 $660.87 / $680.70

EBay completed listings: $680-700

Thanks man. I'm going to look into this.

 

[The Man With No Name]

THE MARKETS NEWS AND ANALYSIS BLOG







Bank of America Merrill Lynch slashes gold call to $1,150 and warns it could get uglier
January 9, 2014, 7:08 AM

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Bloomberg
In one of the first, if not the first, calls on gold [SIZE=.82em]GCG4[/SIZE] +0.16% this year, Bank of America Merrill Lynch slashed its forecast for the shiny stuff by 11% to $1,150 an ounce on Thursday, with a warning it could get even uglier.

Gold plunged 28% in 2013 to just above $1,200, snapping a 12-year annual winning streak and recording its worst annual performance in nearly three decades. Silver, which also didn’t escape the chop from Bank of America Merrill Lynch, suffered a 36% loss in 2013, its worst since at least the early 1980s. The investment bank cut its forecast for silver[SIZE=.82em]SIH4[/SIZE] +0.18% by 21% to $18.38 an ounce.

On Nov. 26, the bank forecast gold for 2014 at $1,294 an ounce, and silver at $26.38 an ounce.

Strategist Michael Widmer said his biggest gold worry is a lack of buyer interest, as investors have been a marginal driver of prices in recent years. A gain of around 2% so far this year hasn’t really convinced him either.

“If investors stopped selling gold, prices could stabilize around $1,200/oz. Yet, this is not our base case and a more likely scenario is for investors to continue reducing their exposure. Our model suggest that this could take prices down to $1,000/oz.”

He adds that not even traditional buying of physical gold in India and China will be enough to keep prices from falling.

But gold bugs can cheer up somewhat, as all is not uber-gloomy at BofA Merrill.

Widmer says prices for gold could bottom out later this year. He reasons that a continued acceleration in the U.S. economy, tightening labor market and slowly rising inflation could trigger gold market players to increasingly adjust low inflation expectations, pricing in some unexpected inflation and luring back buyers.

The bottom line: Investors could see some “interesting entry points” for gold this year, he says.

Still from the “gold is pretty doomed camp,” Wednesday’s fairly hawkish set of minutes from the Fed’s December taper meeting was hardly a boon for gold, says Daily FX’s Ilya Spivak. Watch out, he says, for Thursday’s report on weekly jobless claims to drop to the lowest in five weeks, boosting the dollar and further eroding that anti-fiat demand for gold. Bigger jobs data lay in wait on Friday.

http://blogs.marketwatch.com/thetell/2014/01/09/bank-of-america-merrill-lynch-slashes-gold-call-to-1150-and-warns-it-could-get-uglier/