2011 GOLD high $1,500.00, SILVER high $24.00

Yeah, I don't remember every detail, because the business I was running was moving fast too. It was an exciting time with PM's gasoline, margins on commodities, etc. Seems everyone was driving a Porsche and going at full tilt ? Speculation was the word of the day, that and "leverage". Of course, until Reagan changed the tax laws, everyone was making money and spending it. There was a cash flow and everyone benefitted, it seemed.

 

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Tax law changes didn't happen until over two years after the commodity bubble burst. I don't think you can blame that. Rising tides raise all boats, right? Especially on leverage. I was around then too, and declines are always faster than increases. I remember investors greeding up and then panically trying to sell only to be offered $5-$10 under spot for morgans because they waited too long.

From your description I couldn't tell if you were describing 1980 PM market or 1999 dot com market until you threw in Reagan.

 

9:35 p.m.
Gold: 1385.30 (Bid)
Silver: 28.82
Platinum: 1683.00
Palladium: 738.00

 

Seems like $1385 is the comfortable price for gold right now....even when it goes past $1400, it seems to come back down to around $1385....

I'd be interested to see where gold is priced at after the holidays in January....

 

Currently: (Bid)
Gold: 1397.10
Silver: 29.64
Platinum: 1701.00
Palladium: 760.00

Interesting to see the ups and downs; I too am curious about what will happen after the holidays. I wonder if there will be a lot of people trying to sell ahead of tax laws changing, and if so will the prices go down.. a big take your chances game it seems.

 

I can't figure out if the new tax laws will hurt or help. You can practically argue your points on both sides of the ball on this one....

The laws though aren't enough for me to sell my PM's....I am holding them for the long run....

 

It seems very likely that the tax laws will be extended 2 years, with estate taxation the main argument now. Goldman Sachs ( according to CNBC announcer) has decided to give bonuses in January, rather than in December due to their belief that tax laws aren't changing. I believe they have direct lines to many of the power people in politics and finance, and I would bet with them in this case, IMO.

If you watch the price of SLV, notice how it is staying within a few cents of a near full dollar price. At the end of last week it was 27, then 28, and today 29. Strong implication that options ( expiring this week) and futures are involved. When we start seeing days of 29.33, or 28.56, an uneven dollar amount, expect the price to reflect true market value. The 3 ton invisible elephant in the room is of course China ( in either direction) IMO.

Jim

 

Very observant and what a great tip! I had never really looked at the numbers that way....... so if not 2012, then are we looking at 2014?

 

Me too; though I am not sure until when? Probably when I need the $!! Or when I am just nervous enough. Some days feel that way (nervous enough) and other days feel like leave it alone and forget about it! My cpa/accountant says do it, but at this time, I am marching to my own drummer They are very conservative.. On the other hand, there ARE 18 days left of the year...

 

I have absolutely no idea! and I doubt anyone does, except that politicians react to money like cats to catnip, so they will go with the flow.

The idea of being or intending to be a long term holder of PM, with out having an exit strategy could be deadly, so even though it can be a sliding plan, with exits, ( it could be sell 5% at 32, 5% at 34, etc, and as it slides up, the % should increase), everyone should have an exit plan with any investment, IMO. And if you have a regular IRA, read carefully about ROTH conversion this year, especially if you are over 60, especially about the required withdrawals after 70 1/2 and inheritablity benefits for your heirs.

Jim

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Ooh! Your advice about an exit strategy is 100% what I am missing. Chilling to think about. Might be the whole reason I stumbled on to this website.

Sincere thanks.
Lucy

 

Whoa ! From what I have read, there may not be a 2014. Everything might come to a halt on 12/21/2012. At least some theorists believ the resetting of the Mayan Calendar predicts that.

I am hoarding copper cents, just in case they are wrong.

gary

 

Perhaps, when enough metals have been horded away from finance and industry by individuals due to overly paranoid wtshtf worries, moore's law may stop. Guesstimates place this around 2015 or later. No one states with certainty when it may occur, but a lot of work is being done to escape the consequences of progress coming to an end. Physics has to overcome many fundamental hurdles to find the next step to allow global finance, for instance, to go onward. Nano sciences are a possible route, and have offered tantalizing investment options for that sector.

 

Just one word: carbon.

http://en.wikipedia.org/wiki/Graphene#Graphene_transistors

http://en.wikipedia.org/wiki/Carbon_nanotube#In_electrical_circuits

http://en.wikipedia.org/wiki/Material_properties_of_diamond#Electrical_properties

Just try to corner the market or deplete natural reserves of carbon. (Well, okay, it did work for the pre-formed diamond variety...)

 

Aren't you looking forward to the day your skin will be a computer and contain all the information known by mankind ? I doubt I will be here then, but it would certainly be an amazing time.

gary

 

Been waiting my whole life! The date of arrival always seems just around the next corner. Could be tomorrow or 100 years worth of tomorrows yet...

 

Currently: (app. 10:45 p.m.)

Gold: 1381.40
Silver: 28.99
Platinum: 1692.00
Palladium: 750.00

Posting to a ghost town..

 

Posting to the ghosts of gold bugs past...

 

In 1973 I bought my first portable calculator. It cost $87 was about 2" thick and had a built in rechargeable cell. Today, I use a laptop that cost $450 today's dollars and has 250 g, 3g ram and HD monitor. The technology is like a rocket. Slow at first but gets faster and faster as it pushes on. The future will be here sooner than many can believe. IMHO

Just keep hangin' in Krispy.

 

i believe it will all come down. not sure when. but it has to. why? all of this run up is caused by investor demand. nothing more. It is fear of the devalued USD. that is it. we saw it 2 times before in 1980 when silver hit $50 and we saw a similar "band wagon" effect when the housing markets boomed in 2004-2006. It is a matter of time.

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