QE3 Announced

http://money.cnn.com/2012/09/13/news/economy/federal-reserve-qe3/


[video=youtube;NPm_9YWRKMA]http://www.youtube.com/watch?v=NPm_9YWRKMA[/video]

 

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That's a heck of a spike. I've been watching conflation the last hour and gold and silver have spiked. This whole QE3, IMO, is a misguided effort, but good for PM.

 

My gold ticker in the top of my browser has been going crazy. When I got back from class it was -$7, then within a few minutes it was +22 and I was shocked, then realized the announcement finally came out. Now we're at +40. Wild ride folks!

 

and I was just about to buy some gold. Should I buy it today?

 

I wouldn't, just my opinion. I'm sure this is a reaction to QE3. I'm sure the markets will settle down and even out. I could be totally wrong, but that's my opinion.

 

From the mint. They don't change prices till Wednesday. They might suspend sales, though.

 

The answer depends on where you're buying from and how much you're paying. You shouldn't buy gold from the US Mint because their prices are way too high and it will take a long time to recoup your initial investment. Need more info to answer your question.

 

I've been wanting to buy gold for awhile and I've finally gotten to the point that I can buy some. Literally just 2 days ago. So I'm wondering if I should buy a little bit now (no more than 2-4K worth) or wait a while. Who knows what will happen.

 

Nobody knows what will happen but it's safe to say that the price will level off after the news of this QE3 dies down. Are you getting a good deal for your money? What can you buy and how much are you gonna pay? Before you get an educated answer you need to let us know what you're getting for your money. Otherwise, anybody can just come on here and say "yeah, buy gold it's safe right now and you'll make a ton of money". Capeesh?

 

I have no idea what to buy so I went to the mint site. 2012 quarter ounce american eagle proof coin for 515. How's that for a start? or any better suggestions? I'm all ears. (I guess, technically, that would be eyes, right?)

 

$515 for a 1/4 ounce of gold from the Mint is a lot. They attach a crazy premium to gold, and silver, and it would take a lot just to make your money back. Right now a 1/4 ounce of gold at spot is around $441. So you'd be paying a $74 premium on your coin. It would take a while to make that money back. Are you looking at gold as an investment or a collectible? Investment wise you should look at places like apmex.com or providemetals.com. There are a ton of sites to get lower premiums than the Mint.

 

That's too much money. A 1/4oz for $515 adds up to $2060 an ounce, way too much! You gotta buy when the price is at spot or a small percentage above spot. If you go to Apmex or one of the other's like Provident you will see way better prices than the US Mint. Go to a local coin shop and see what they have, take your time. You do not have to buy gold today, shop around and get the best price possible.

 

Excellent Mr. Cheeks and Fret. I will do that. Thank you!

 

I'd say look around on those sites and get an idea of what you like/want then also visit local shops & get some prices there. You can save s/h by visiting local shops and you get your PM's the same day.

 

Ka Ching! Thanks fed! Silver $50+ by years end! IMO

 

Not in my opinion, I view this as a selling day for gold and silver. It has a very good chance of being lower within a few weeks. JMHO. Don't drink the kool-aide

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You should have been already been loaded up silly! ... For Silver I am going to give it a couple weeks to see if it dips or where the next resistant point will be, I think it's going to pull back to 31-34 before it takes off to 40+ but the low $30 range is a good base and probably won't pull back much further, all going to depend on the market tho. IMO

 

SLV L2s are crazzzzzy right now! Fun to watch!

 

Hey, I'll offer you FIFTY dollars an ounce TODAY for as much gold as you'd like to sell!

 

Benjamin Graham, writer of The Intelligent Investor, like to say, "Never buy immediately after a significant rise, or sell immediately after a significant drop." He probably knew more than anyone here -- not to say he was infallible.