Wow - silver and gold took one on the nose today!!!

[treasurefiend]

as of 4:16pm central time

gold is down -62.50

silver is down -1.90

http://forum.treasurenet.com/metals

 

[Silver_Fox]

as of 4:16pm central time

gold is down -62.50

silver is down -1.90

http://forum.treasurenet.com/metals

Small potatoes compared to what my IRA's and 401K looks like.

 

[Immy]

I just don't get it. Wall St. has one of its worse weeks ever, so where is the traditional flight to the safe harbor of PMs? Why isn't silver over $15 and gold over $950?? We already know physical silver is hard to come by which is another reason it should be much higher.

 

[springcypress]

This is what's called hysteria.

It's being fueled by the media IMO.

People aren't thinking rationally. They're very possibly doing one of the most inappropriate things with their money right now which is placing it in cash and cash equivalents. Obviously stocks are being wholesaled, real estate is being wholesaled, bonds are being wholesaled, and to me it looks like precious metals are being wholesaled as well.

Unfortunately cash doesn't protect against inflation, which we're starting to see pick up. In addition to the pummeling that's happened to the stock market in the last few days / weeks / months, I'm willing to bet that we'll see double digit inflation over the course of the next year. So in addition to the beating that people have already taken, I suspect they're getting ready to take a beating on their "safe" cash now as well.

IMO right now is the time to be buying ALL of the above WITH CASH.

I don't claim to be a fortune teller, BUT... Once they start making TV shows on how EASY it is to make money in something, it's time to get out of that something. It happened in oil in the 80's, it happened in tech in the 90's, now it's happening in real estate in the 00's.

After seeing Flip That House on HGTV for the first time I told my wife "Time to get out of real estate". She thought I was crazy and it took 2 years for me to be proven right.

 

[packfan_1982]

Has CRHing gone too commercial? What about all of the commercials telling us to buy gold now before it reaches $2000/oz. Should we all bail out of precious metals? Just food for thought i suppose.

 

[jim4silver]

I just don't get it. Wall St. has one of its worse weeks ever, so where is the traditional flight to the safe harbor of PMs? Why isn't silver over $15 and gold over $950?? We already know physical silver is hard to come by which is another reason it should be much higher.

Try going to your local coin store and buying silver or gold for spot price. It won't happen. Gold is drying up all over as well, especially in Europe. Paper prices are not the same as physical prices.

It will be interesting if in futures contracts where the buyer demands delivery it will result in physical delivery or payment in dollars (which from what I read is happening in other countries).

Jim

 

[BBcardsRI]

The Dow dipped into the 7,000's the other day... they are well below 5 year lows...

Precious metals are still performing worlds better than stocks.

Spot price is a manipulated joke... we all know this, it is nothing new.

Jim is dead on saying that you can't buy physical for spot.

Just tough it out a little longer. The manipulation can't keep things down forever.

Bull markets aren't the easiest to ride out... if they were they would be called kitten markets. =)

~Dave

 

[STDevil]

Call this a buying opportunity. I am one of those idiots who has a great job, good sense of value, and does not borrow money on his house. My wife (who makes more $$$ than me which is just fine thank you very much) pretty much lets me do what I want (as long as she knows the combination to the safe), so she's supported the metal buying binge I have been on for the last year. As long as I do not come home drunk or with a new truck, she is OK...barely. She got upset when I came home last week with a whole bunch of ammo, but I just view this as another PM.

I am loading up on silver. If the price drops to $3.00 an ounce, that is just fine. I will buy more. My dad's dad prepared for my future, my dad prepared for my son's future, and I am preparing for my son's son's future.

This is the greatest place in the world. It is not without its problems, and the problems seem to get worse every day, but we're still ahead of the rest. I hope my son will be able to say the same.

 

[Ju8vP3t]

If Silver drops to $3....you won't find it anywhere to Buy...