Next Level: GOLD $1,350.00

Interesting article from The New York Times Fed Will Meet With Concerns on Deflation Rising [8/9/2010]

CURRENTLY:

GOLD: $1,199.90
Silver: $18.29
Platinum: $1547
Palladium: $477

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CURRENTLY:

GOLD: $1,206.40
Silver: $18.42
Platinum: $1550
Palladium: $479

 

Bye bye $1200 gold.........................for now. I hope to see you soon. :crying:

Gold..........down 6.80 to $1197.00 as of 5:31 AM U.S. Eastern Standard Time.

 

Nahhh, more like bye bye $1250 gold.....I'm sure we'll see $1200 gold today, tomorrow, next week, but we'll also see $1190 gold etc etc....

 

I wouldn't sweat a few dollars off for gold or a small percent off silver either, hovering as they have been these recent days/weeks above/at/below the $1,200 range and whatnot. Take a look back at the beginning of this thread where the metals were going at the end of Q3 2009 and how it climbed through Q4. Let's see if the last part of the current year doesn't deliver on some of these speculative predictions for higher ranges breaking $1350 gold / $20 silver by the beginning of 2011. :smile

 

CURRENTLY: At the US Market open for Wednesday 8/11/10

GOLD: $1,202.00
Silver: $18.22
Platinum: $1545
Palladium: $480

 

CURRENTLY:

GOLD: $1,208.10
Silver: $18.27
Platinum: $1547
Palladium: $481

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If my previous guess was/is correct, we should be pretty close to a 15-20% correction in Gold. ...or not, just an opinion (not fact).

 

Well it is clear that gold has dropped from around $1250-60'ish.....the market is tumbling right now, but hey what's new right? It may tumble again tomorrow, but just like clockwork, it will come back 200+ points next week....and the MSM will make a big deal again how wall st. recovered....

I feel like I'm spinning my wheels here in terms of wall st. news...I'm Bill Murray starring in Groundhog Day....

 

These markets are like Activia® for PM buyers! The regularity of these "corrections" provide plenty of opportunity to get your holdings in order.

CURRENTLY:

GOLD: $1,199.50
Silver: $17.89
Platinum: $1525
Palladium: $469

Also, anyone catch this article yet?

American Palladium Eagle Coins Recommended from CoinNews.net 8/10/10
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I'll have to check that article in a few but I wanted to respond. I really should get into ETF's at least for the short term and buy/sell low/high, I wonder how much I could actually make?

 

Yeah good point. I was just being a crybaby. It really does not matter to me since I am not trading or speculating on gold and silver. I am just some crazy silver art bar collector with no life outside of internet forums.

For some reason, I just like watching the gold and silver markets. I seem to get a "high" from watching the gold and silver markets regardless of whether it is moving up or down.

 

'Tis my brand of market entertainment too. :thumb:

 

Well as someone who has some PM's in the game, it is heart wrenching to see the PM's swing like this. Of course when they peak I am on cloud9, when they don't, well you know.....

I am trying to avoid the mistake of what seems like many make, which is selling based on emotions. I was very well aware that this is a risk if I want to get into this game. And I take full responsibility if the prices DROP, and I will accept that if it occurs. It won't be nice but what can you do?

If I do sell some silver, (not gold), it would almost be more out of a rebellion.....

 

I understand you began putting your money into PMs about year or so ago. If you've got 10, 20 or more years to hold your PMs, then you will see much more than these daily shifts in volatility. I also think you will also see more growth over time... up, down, up, down, but moving up slowly over time. Couple with that, that you might continue buying when you have the money and opportunity. While you should separate emotion from investing, perhaps 10, 20 or more years down the road you will no longer feel the same emotional tug since you are further away from your initial points of entry. I'm not saying you won't mind your investment and know when to get out, even though that's near impossible to know when but you should set some parameters, nor am I saying that you'll become indifferent to the market moves of a few dollars here and there, but I think over time, you will grow less concerned with the emotional aspect and more secure in the investments you have made.

 

Very well said and I wholeheartedly agree. You've hit the nail on the head exactly what I was thinking. It's about 1 month away from being a full year in which I've invested in PM's. Deep down inside I really do think that 10-20 years I will see PM's at much higher value, creating the "buffer" between real monetary price VS. what the USD is probably going to be worth.

I could look at it as someone up above somehow in someway directing me towards investing in PM's, protecting me down the road. I can't even remember how I got interested in this stuff. I'm not sure entirely of what made me even dive into this....but I'm here now and I think I'm here to stay. haha...

I think we all know that we shouldn't take too much in what the price of PM's are today, tomorrow...it's long term that's important. Two steps forward, one step back....two steps forward, one step back.....basically the little engine that could.....

I would love to purchase more PM's if I can, but that would mean that PM's would be below what they are today so it's a bit of a catch 22.....if I really want them to go up, I can't afford to buy anymore, at the same time, if they go down, it makes me rethink my outlook on PM's.... LOL!!!

 

I've been involved with bullion (buying in small amounts) since the mid 1980s when I first became aware of bullion and what it represented, meant to me, etc. and I still find that PMs are worth buying today at these prices (on the dips and periods of correction of course) and I still feel I have plenty of holding-time to put in to my investments. I don't have obnoxious hordes of bullion and don't exclusively invest in bullion. There have been periods of time when I did not buy anything, didn't even peek at the SDB for couple years at a time. I know some people can only invest in a few ounces at a time while others pool their money together and make a big splash. Whatever the case, we each do what we each can and define our personal portfolios to suit our tolerance for risk and security. It may be an illusion of security but some investment is a step in the right direction, I believe. Once in, we must be patient and persistent in using the time, not worrying about price fluctuations, but understanding our goals and positions to defend against losses, while not reacting emotionally in this time. I don't think bullion is the only way to invest and your earlier comment about ETFs is something you might serious start looking into if you are ready. There are many things that it's good to have exposure to, despite the die hard bullion-only crowd hammering their message in these forums. Each sector requires due diligence to learn the ins and outs for our own good and perhaps, for our own gain.

 

I started out just buying plain gold and silver bullion in January 2007 and just bought the usual stuff but I turned in to a silver art bar collector in August 2008 and I started to look at my collection as something that I like to do.

My silver art bars are not an investment to me because I am very emotionally attached to my collection. I true investor is not supposed to be emotionally attached to their investments.

The only time that I really care about spot price is when I go to the local coin shop or the local coin show and I want to see what premium over spot that I will be paying. For me spot does not matter but the premium that I pay over spot does matter to me a lot especially when I am buying silver art bars because I want to pay the lowest premium over spot.

People buy gold and silver for different reasons. Some buy it for preserving wealth. Some buy it as an investment and have strategies on how to make money on it. Some people buy gold and silver as prepping for an Armageddon scenario and think that gold and silver will become money again. Some people, such as myself, just buy gold and silver to collect certain coins and bars and do not care about profit. They enjoy just looking at it and researching what they can about a particular gold or silver coin.

 

CURRENTLY: In UK/EU markets for Thursday 8/12/10...

GOLD: $1,205.90
Silver: $17.97
Platinum: $1523
Palladium: $471

US marketing opens in just under one hour thirty minutes...
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A nice nightly rebound, looks like the other side of the world picked up the pace for us...let's see what happens now when our markets open.....