Are you buying or sitting on the sidelines?

So glad I'm on a 30 year plan. I don't even have to care too much. Up or down, I buy a little at a time with no concern.

But would I like it to drop like a rock? Heck yes. I'd be buying some pieces I haven't been able to afford. (The RCM 1 Kilo Anniversary of Lacrosse silver issue - dreamy).

 

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I am a big believer in history repeating itself. Its previous high in the late 70s steadily trickled down to around $6/oz on the early 90s. I think $6 is a little too optimistic these days, but $10-$12 is where I'm thinking the new low will be.... after at least one full decade of steady decline.

 

SELL: SELL SELL - Before the CRASH - SELL SELL SELL

I need cheaper coin prices.

 

Don't confuse them lol

 

I have bought some the past few days if it continue to drops I may get a roll of silver eagles

 

Wow you stole my thunder I was going to post a floor of 10-15 for silver and 800 for gold. I'd be a buyer again at no more than 20S/950G. We are probably two years from that price. The drop for me right now is four fold 1) european and global uncertainty, 2) too many people are cashing gold and silver in right now to pay bills, mortgages etc. so supply catches demand 3) our economy is slowly staggering away from the bottle of depression pills and getting healthy-ish but won't be healthy till it gets it's stomach pumped. 4) we are in an election year. believe it or not it matters a bit. regardless of who wins presidency or congressional elections if we get a year of two of what we have had for monetary policy the past 4-6 years we are back in the hole, back under water as a collective whole and back to 2000G and 50S. Things get better and start changing after Nov. the correction/fall will start start in earnest.

 

I hope the 10 to 15 ends up being right and goes on same track as did in 70s to last year. Will help me retire pretty well at 50 or so

 

my two caveats are: 1. negative real interest rates 2. the possibility of a country or bloc of countries pegging currency to commodities and, thus, undermining Western fiat currency (I came to this conclusion on my own well before The Golden Revolution)... otherwise I have pricy insurance that is lessened by the spread on the retail sales to an eventual cost basis of less than zero.

 

I've bought more than normal recently. But not any large bullion buys. Which I wouldn't even consider doing until below 20 dollar silver. Not because of a price prediction but just because I'd rather buy coins I enjoy collecting. I've been into modern commemritives,barber dimes, and standing lib. quarters more recently. I but the occasional american eagle or maple leaf for around 32 or 33 a piece. I probably overpaid for some morgans and peace dollars last summer but I was new to coins and don't mind keeping them for the long haul anyway. I paid anywhere from high 20's to 33 max. for them in fine condition. I've had the feeling the last couple of months that silver would continue downward, but I only base that on gut instinct and what I notice going on out there in the world around me. I'm glad to see this thread has stuck pretty close to how it was started. Which hasn't been the case with other recently opened threads with a question.

 

Production cost for $700/oz unlike before where it was less than $100 oz.

 

You wouldn't want to put a gentlemans wager on silver under 20 and gold under 950, would you?

 

I'm sitting.

"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I’ve known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. And their experience invariably matched mine –that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money." -- Jesse Livermore

 

I agree with both negative real interest rates and production cost caveats presented. Long term with oil where its at gold cannot be mined at $500 or $700 an ounce. New fields are just more pricey with expensive oil. Short term it can, though.

A lot of the price rise to me has been both oil increases, (we cannot change I don't believe), certain countries being able to afford more PM, (not likely to change either), and money looking for a return. I believe the third can be enough to lower prices further if other investment options look better, but not back to prices 15 years ago.

Just my opinion.

 

Stories of men being 100% right and broke are everywhere from those predicting the dot-com crash a year early, to those predicting natural gas spikes before fracturing. Just someone is theoretically correct does not equal profit, its not until the market agree with their correctness will they profit. "The market can remain wrong much longer than you can remain solvent" is not a market truism for nothing.

"Catching a falling knife" is not for the faint of heart. Personally I don't like trying, yet I tried that very thing three hours ago on a stock. Hard on the stomach.

 

If you buy stock in a company with good financials [which for me means low debt and positive cash flow] at a cheap price, things usually work out over time even if it goes lower immediately after you buy it. I recall Warren Buffett saying that he bought stock in the Washington Post at about 25% of its value in a private acquisition, and it still went down 50% after he bought it. But it worked out as one of his best purchases over time.

 

Well, this one has high debt, and is still in startup mode.

I like future prospects, though.

 

I bought 5 dollars face in junk silver at my local dealer on Monday. What an epic selection of junk silver he had.

Picked up two beautiful walkers, 2 Kennedy's, 8 washingtons, and 10 Mercs. I've set some money aside just trying to decide if and when to make a large purchase

 

I used to be brave. After 2008-09 I decided to pay more attention to balance sheets and cash flow.

 

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Did gold really go up 34.00?​

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[TD="bgcolor: #000000, colspan: 8, align: center"]New York Spot Price
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[TD="bgcolor: #F3F3E4, colspan: 7, align: center"][FONT=Verdana, Arial, Helvetica, sans-serif]MARKET IS OPEN
(Will close in 2 hrs. 26 mins.)[/FONT][/TD]
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[TD="bgcolor: #CCCC99"]Metals
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[TD="bgcolor: #CCCC99"]Date
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[TD="bgcolor: #CCCC99"]Time
(EST)
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[TD="bgcolor: #CCCC99"]Bid
[/TD]
[TD="bgcolor: #CCCC99"]Ask
[/TD]
[TD="bgcolor: #CCCC99, colspan: 2"]Change
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[TD="bgcolor: #CCCC99"]Low
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[TD="bgcolor: #CCCC99"]High
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[TD="align: left"] GOLD
[/TD]
05/17/2012

14:50

1574.30

1575.30

+34.00

+2.21%

1548.30

1584.80

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[TD="align: left"] SILVER
[/TD]
05/17/2012

14:50

28.08

28.18

+0.81

[TD="bgcolor: #F3F3E4"]+2.97%
[/TD]
27.43

28.98

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[TD="align: left"] PLATINUM
[/TD]
05/17/2012

14:50

1447.00

1454.00

+17.00

+1.19%

1436.00

1506.00

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[TD="bgcolor: #000000"][/TD]
[TD="align: left"] PALLADIUM
[/TD]
05/17/2012

14:49

604.00

609.00

+12.00

+2.03%

597.00

619.00



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I will be visiting a coin show this weekend looking for deals. Under normal circumstances I would be buying every paycheck, but lately I have been spending my money on other things since I have as much metal as I need, though certainly not as much as I want I don't really care about price. I just spend what I can spare and keep accumulating. I think today's prices are a steal, although I also think we will see lower prices before all is said and done.