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Gold Is Taking Another Dump

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Au +17..woot woot!!!

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BTT,,,, getting much info regarding shenanigans afoot :zzzzz: ( when isn't there)... some are saying that media hatred of commodity metals is reaching an all-time high.

And,,,,,,,, many have said that when the most :barnie: <<<<< ( the next morning after too many jalapeno poppers the night before)

.......is hitting the fan, news-wise, a major swing or change is about to occur.

Feel free to imagine the theme to http://free-loops.com/3320-jaws-theme-song.html.

:idunno: HOw low will it go? or will it bounce due to unforseen , future events?

Does it really matter in the long term?

...............................

" Now here's this week's market wrap.... https://www.moneymetals.com/podcasts/2015/07/24/gold-now-most-hated-asset-while-retail-public-buys-at-record-pace-000742?utm_source=150724-POD-RE&keycode=150724-POD-RE&utm_medium=email&utm_campaign=podcast

Edited by weaver hillbille

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Vast amounts of gold are being sold off. this makes the price of PM's drop and have it look as a barbaric relic and fiat currency is the only place to be...... Well look real close and it's gold paper futures that are being sold by the billions to cause this effect. (For every ounce of physical gold there are about ten paper futures)

None of these bigshots are selling physical gold.... now when everyone sells their gold out of fear and your money is in the bank..... that's when the stroke of a computer keyboard will wipe your savings out.

Of course this is just my opinion i could be way off base.

Right now Silver is a bargain and will be the fastest riser in relation to gold as silver is a commercial commodity that is really needed

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Yep Hold your Gold. Let the paper fly.

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Hopefully a nice bag of silver dimes would go a long way if the credit cards go down for a short time and a lot easier to barter with for small items compared to an ounce of gold (which definitely hang onto)..

A junk (silver) dime is usually close to the value of a gallon of gas for pricing comparison. I think PM's will still drop (maybe a lot).... How far and when????

The bargains are out there...........

Again just my opinion

Don't forget the spam and the ammo :)

Edited by Joe Z
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The Golden Rule: All the weight, half the value..

The Golden Rule: We're what's for dinner..

Golden Rule: The other white mete..

The Golden Rule: It's not your father's Oldmobdeal..

The Golden Rule = Kosher bacon..

SA

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The real Golden rule is....anything under $1,500 an oz sucks :2mo5pow: John

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DArn, last week I had x amount of oz's of gold... the price dropped and guess what... today I still have that same amount of gold. One of these days the paper market will go up in flames and that paper gold will be smoke in the wind, but guess what? I will still have that same amount of gold.......

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I've been watching the Au to Ag and Au to Pt ratios finally begin to narrow after a fairly sustained period of gain. This suggests to me that gold is going to continue its dump -- or at least a "dumplet" -- in the coming weeks as more "paper gold" is traded at a loss while "real" (industrial) metals establish a positive direction (assuming the world economies actually are in a growth orientation). Taking a longterm view (like 5 to 10 years or so) I'm with El D: the time for accumulating and hoarding gold and being patient is now. The paper traders should be pretty well beaten down by then and the actual economic costs of production will be back in the driver's seat to trigger another worldwide gold boom.

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Take it from ol' Slim...

"There is never a bad time to find gold."

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Hopefully a nice bag of silver dimes would go a long way if the credit cards go down for a short time and a lot easier to barter with for small items compared to an ounce of gold (which definitely hang onto)..

A junk (silver) dime is usually close to the value of a gallon of gas for pricing comparison. I think PM's will still drop (maybe a lot).... How far and when????

The bargains are out there...........

Again just my opinion

Don't forget the spam and the ammo :)

I agree Joe, except the part about the value of a "junk" silver dime being about the same value as a gallon of gas, at today's "melt" value a silver dime is worth $1.06+, while the melt value of a silver quarter is about the same value of a gallon of gas at $2.65+/

http://www.coinflation.com/

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Correct indeed on the melt value....

silver is surely way down and i should have checked recent figures.... I was definitely off on that one

And a roll of dimes on Apmex (50 count) right now is about $1.75 each

http://www.apmex.com/product/22018/90-silver-roosevelt-dimes-50-coin-roll-bu

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Gold and Silver NEVER loose Value. It's the Paper money that has changed. Your gold will always buy what it did before.

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Gold and Silver NEVER loose Value. It's the Paper money that has changed. Your gold will always buy what it did before.

I sold some silver eagles back in 2011 for $44 each. I bet the guy who bough them isn't real happy right now.

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Gold and Silver NEVER loose Value. It's the Paper money that has changed. Your gold will always buy what it did before.

Not all the time. Gold drops $100 in 2 weeks. I didn't see a drop in anything I bought.

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Not all the time. Gold drops $100 in 2 weeks. I didn't see a drop in anything I bought.

To me, It's the manipulation that is going on right now to make you think your gold is not worth as much as the fiat currency.... If and when the dollar falls flat on it's face the reverse will take place then.

This October is going to be very interesting

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Consider this guys ... Gold will continue to go down as the various governments and especially the US Govt. continues to print paper money to discourage deflation. Deflation is misunderstood I believe by most people. That is the worse thing that could happen to the government! Why? Because with deflation folks are not increasing their earnings hurts the governments collection of taxes. With inflation the peoples wages are going up and even if the tax rate stays the same the government is still 'making' money so it can spend more. By creating more paper money the value of say the dollar goes down and buys less but so long as wages are at least the same or rising the government is OK with that since their tax revenues are not falling. Also as long as inflation is around and so long as it does get out of hand and go above a certain figure ... whatever that may be ... you can plug in your own guess their ... mine would be something over 10% for example ... there is no hard and fast number here! Anyway ... as I was saying so long as inflation rate remains 'palatable' gold will remain steady or may go down as it is right now. However ... if we see deflation ... where wages go down therefore the government collects less tax given no change to the rate ... the government will have less to spend do to that decrease. The decrease in spending will cause a panic because those on the dole or even those like myself on social security will feel the pain of reduced services due to reduced revenue coming into Uncle Sam's tax coffers ... remember deflation has reduced wages as part of the equation and therefore reduced tax collection given the same rate as before deflation took place. Deflation is a governments worse nightmare because it is so hard for it to reverse direction. Can it print more money ... sure ... but that adds to the problem because now the dollar is worth even less and the public and government buying power is less ... panic follows and hoarding becomes the order of the day. At that point you could see gold and silver ... plus other precious metals and stones skyrocket in value. For those that hold gold the was purchased at say $1200 an ounce a fortune could be had quickly as gold would rise quickly and would have an unlimited upward trend. However ... all that 'extra' value to those who had gold before will only buy what it bought before at the $1200 level. The ones that had the gold before deflation took effect would be better off than those who did not but their lifestyle would not change appreciably. Those that now had to trade for the higher value gold would be unable to have what they had before because they have to 'pay' so much more for the higher value of gold. As for the government ... well they could collapse if deflation went deep enough to the point that their tax revenues didn't take care of at least the interest being paid on their debts. Deflation is but one part of the puzzle to the rise and fall of the value of gold ... but it is the biggest problem for the government ... It is very hard to turn deflation around.

So be careful what you wish for when you say you want to see $3000 or $4000 or even $5000 gold ... it doesn't get to that level just as a scarce commodity ... it can only get to that level if the governments are buying and hording it as a hedge against deflation.

Sorry for the ramble but I felt a discussion of the value of gold up or down is not complete without the mention of deflation as a major part of the equation. Just my rambling thoughts on a Monday morning with the stock market going in the wrong direction AGAIN!

Make it a great day and may your pan or poke be filled with gold!

Mike F

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Here is another, yet minor, factor to consider: Gold or silver occasionally are a "byproduct" of the production of a completely different economic metal -- lead or copper. for example, or even a non-metal such as gravel. If the economy slows down worldwide, then there is less demand for those economic materials. As production of those materials decreases so does the production of the byproduct gold or silver. This translates into a drop in the supply of gold or silver (albeit only to a minor degree). A drop in production of any precious metal usually translates into an increase in the price of those precious metals. I doubt there is no one size fits all formula for solving the complex puzzle presented by the precious metals market. Just lots of bits and pieces, some major, some minor. This forum can provide a decent sounding board for each of us to make our contributions and to draw our own conclusions.

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Martin ... How right you are! It is not a simple subject.

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Some large U.S. companies have been buying up Gold and Silver as a hedge against deflation.

Seems the whole world would have to be effected for a real disaster to take place, much

greater than the "depression" of the early 1900's. It had some worldwide effects but nothing like

what, very well could be, on our horizon.

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