Gold $1,020.00, Silver $21.00 can it be?.

Another buying opportunity, in my opinion. Dollar cost averaging is your friend.

Markets (just about all of them) are very nervous now and the recent schizophrenic swings attest to it...Mike

 

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if ur looking at auctions the prices will have an immediate impact keep in mind though that choice coins wont be affected much by the price of the metal

 

where's elaine? i dont hear any more of those record posts anymore?

 

Actually, a record WAS set today; the biggest one-day drop in the price of gold since June, 2006!

Gold Plummets by Record $59 on Fed's Interest-Rate Decision - Bloomberg, Mar 19 2008 4:05PM

 

unfortunately, the stock line for the next year is going to be that they bought it at $1000 gold, so they can't let it go for less...

 

Yea...where is Elaine?

 

Elaine (Elvis) has left the building.

 

Is the $59 amount adjusted for inflation? (Sorry, couldn't resist.)

 

If you read the article, they're going by percentage drop (5.9%), so inflation doesn't matter, but the report is still bull****..........it's only for the past two years.

It's like a baseball statistic: "His batting average against left handed, bald pitchers with mustaches in the 7th inning on Tuesdays when his team is down by 2 or more runs.............."

A little digging reveals that there was a $112.50 one-day drop on January 22, 1980 that was 13.2%. That seems to be the biggest one-day drop ever both percentage-wise and in dollars.

 

Maybe she is with DAK :mouth:

 

LOL

check the silver mines

:goofer:

Do not worry Elaine it will go back up / buy more

 

gold and silver corrected

gold and silver corrected as expected. i was able to buy back all that i want today. and disposed all scrap, damaged, common and unwanted coins during last few days. but bullion coins. i was unable to sell them all. only 41% out of 50% that i mentioned. the other 50% were mostly numismatic related. like anniversary set, key date sets and so forth. that's for silver. as for gold. all my gold coins were numismatic related. i bought them long time ago. i should said during 1984 to 1996. but when gold went up. all my gold coins moved very minimal. so when it drops. it really doesn't affect at all. my worried right now is not coins. it is stock market. coin is only 5% of my stock holdings.

low for the day:
gold - $908.60
silver - $16.61
platinum - $1,795.00
palladium - $416.00

 

ROTFLing, that is just wrong...

Ben

 

my prediction

my five years prediction:
dec. 31, 2007 closed at $833.75
dec. 31, 2008 it will close at $1,050.00
dec. 31, 2009 - $1,250.00
dec. 31, 2010 - $1,500.00
dec. 31, 2011 - $1,800.00
dec. 31, 2012 - $2,200.00

 

OK, I've got that hanging on a post-it note next to my computer.
We'll check back on Dec 31.

 

gold and silver statistics

gold:
2002 - up - 24.7%
2003 - 19.6%
2004 - 5.2%
2005 - 18.3%
2006 - 22.8%
2007 - 31.4%
2008 - 23.4% - recent high
2008 - 10.6% - currently
2008 - 25.9% - prediction, dec 2008

silver:
2002 - up - 4.9%
2003 - 24.0%
2004 - 14.4%
2005 - 29.6%
2006 - 45.3%
2007 - 15.4%
2008 - 41.7% - recent high
2008 - 17.0% - currently
2008 - 45.7% - prediction., dec 2008

 

Elaine I'm sure you know they now have gold and silver ETF's to trade if you want commodity exposure. It is a lot easier way to purchase than going through coins and hassling with storage. This market is so volatile I will only buy large positions via ETF or miners [and I could say I sold on Monday but I doubt anyone would believe me].

 

yes and thanks

yes, i knew. but my money were mostly bought on other stocks. now, if i buy gold stocks or gold etf. i might sell them long time before it when up. by holding papers. you can easily gamble them. just like stock market. but physical owning. you can enjoy the hobby and at the same time enjoy its price up every year so far. anyway. i still predict gold and silver will go up gradually these few years ahead.

 

silver is under 17 bucks now. holy crap. lol

 

Gold down to 919 as I type this: