What is your buy price for gold in 2014

Are you waiting till the end of the 2nd quarter to see if gold dips? Seems to be really bouncing around.

What point are you buying at?

 

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$600

 

for the three pieces I'm wanting for my collection I'm looking to wait till it hits $1000 give or take a $5 fluctuation.

 

$800 and a gold to silver ratio under 50.

If gold drops to $800 and the gold to silver ratio is still around 65, then we'd have $12 silver and that's what I'd be buying.

 

If it were around $1000 I would force myself to buy some gold coins I have always wanted. I wouldn't be buying bullion, but would feel better at buying near bullion coins I want to collect(hoard).

Personally I never pay attention to the gold/silver ratio. With global demand and demographics changing so much, I do not think this ratio will ever be worth acting on ever again. All of my wife's Thai friends want gold, more gold, and only gold. What ratio silver is to gold is completely meaningless to them, as it is to most gold loving countries in the world like China, SE Asia, and India. The ratio was meaningful when you had the sole buyers that valued both metals, like the Europeans historically have, but if the new sources of demand do NOT value both metals necessarily the ratio becomes meaningless. That is where I believe we are today. I could easily see the ratio being 200 to 1 as easily as 40 to 1.

 

I get all that, but the fact remains that if gold drops down to $800/oz, and the GSR ratio is still 65, then silver will be at $12/oz. It doesn't matter if you base purchase decisions on the GSR ratio or not. $12/oz silver is still $12/oz silver.

What if gold drops to $800/oz and silver drops at a faster rate? Then we might see the GSR at 80, which would mean $10/oz silver. Again, you don't have to pay attention to the GSR, because $10/oz silver would probably get your attention.

If it went the other direction, and the GSR was at 50, then $800/oz gold would mean $16/oz silver. I would probably be buying gold because the price of gold is down 40%, while the price of silver is only down 20%. Not just because of the GSR, but because I don't have much gold in my stack and I would see this as a good opportunity to buy gold.

So, I'm not saying that I'm basing my decision solely on the GSR, but rather that I'm basing it on both the price of gold and silver and which I perceive is the best value for me. The GSR helps identify which commodity is rising or falling at a faster rate. If I was basing it on the GSR alone, then I would buy gold if the GSR was 20, even if it was at $2000/oz. Assuming I still had confidence in the economy at that point, I would likely be selling silver because it would be at $100/oz, and using the money to buy a piece of land I'm considering buying right now.

 

Do any of you really expect to see $600, $800, or even $1000 gold this year? With the economy like it is I can't see a confidence level like for years to come if ever. I know it wasn't that long ago we had $400 gold but gas was under a buck then too. I guess I'm just asking are y'all seeing any indicators that would lead you to feel this way or are you just hoping for affordable gold and silver?

 

Since the question is "what is your buy price", I would assume that is the price they would buy at. It wasn't, "what is your price prediction".

 

IMHO, I answered the question "What is your buy price". I never said I wouldn't buy gold coins at the current price, its just if it went $200 lower I would intentionally look for gold coins.

IDK about your area, but housing here is booming, very little unemployment, and consumer sentiment is picking up. I simply do not know what the "economy like it is" comment means. Kind of normal around here.

You struck on a key, though. Gold prices very much do go hand in hand with oil prices. The main weakness I see for gold would be falling oil prices. I just heard last week the US will be a net exporter of oil in a decade, and in fact would be exporting crude oil from parts of the country today if there were not a federal law banning it.

 

$600. Those days will definitely come again. Sold a whole lot of gold at 1300s, and was not unhappy, as it was bought way back when values were a third of that. I would not buy again, until the prices are way down.

 

Understood I misread read the OP. That being said I am only afforded the opportunity to buy based on the asking price how do you get a chance to purchase at less than spot?

 

For the most part, if spot price is higher than you are willing to buy at, then you don't buy. The OP was basically asking people what price the spot price would have to fall to in order for them to start buying gold. Not necessarily what price they're buying at today.

Dealers do get to set their own price, but a dealer would not get very much business buying at 50% of spot. Nor would anyone advertising on craigslist.

 

To further clarify my post. I am looking to buy an 2014 AGE Proof 1 oz . Trying to decided if gold is going to just go sideways....not worry about the time....and just buy it.
OR be patient with the hope that we see $1100 or $1000 gold later in the year and buy it then but also get to pick up another quarter ounce of gold bullion and also take the wife to dinner to keep her happy.

 

Start with taking your wife to dinner to make her happy. If your wife is not happy, you are not happy, no matter how much gold you buy. If she is unhappy long enough, you lose all of your gold anyway.

 

same price as every year, zero.

 

Also, silver is often a by-product of base metal and gold mining, and there are few exclusively silver mines anymore. A lot of mines, especially in developing countries and former Soviet republics, will often hold their silver by-product as a "rainy day fund" and sell it when it suits them, or when they think the price is high enough.

And you can add Japan to your list of countries that seem to have little interest in silver.

 

True, but Japan also does not care much for gold either. Their main demand, (and the largest one in the world), is for platinum jewelry. If you give a Japanese lady a gold necklace, you would probably get the same reaction you would get in giving your wife a silver necklace here, ("oh thanks, I never would have thought of buying that for myself........")

 

Fail.

 

There are plenty of shops in say, the Okachimachi district of Tokyo that sell gold jewelry. And I have seen a number of women wearing gold necklaces *with bullion coin pendants*, particularly Maple Leafs (they don't like US bullion coins in pendants because of the coin alignment, because one side of the coin is always upside down).

And married women, at least, don't seem to care too much for jewelry gifts from their husbands, platinum or gold, since that represents money that could have gone into junior's cram school fund.

As far as bullion goes, gold bullion is more popular than platinum, and Japanese bullion dealers will sometimes pay more for gold bullion coins (like Philharmonics and Kangaroos) than a US dealer. For example, I can sell an Austrian 1 ounce Philharmonic in Tokyo for close to $1400 today http://www.mmc.co.jp/gold/market/price/daily_price.html , but most American dealers won't even offer spot for them.

 

At $1000 oz I'd be looking at picking up full grade certified common date double eagles (anything over AU55 I suppose) for $1200 or less. Lately they bring $1450 or so. Might even get good prices on type 1's if gold goes that low.