Dang Gold Price, Go Down so I Can Buy!!

Anyone feel that way? Do you just want gold to go up? Up and down but mostly up? You don't care one way or the other, you only care about silver?? My prediction for the day is gold will go down a bit within the next 2 weeks! How do I know? I don't, it's just a guess! I figure if all the youtubers can talk smack, so can I! Speaking about youtube, here's a guy who was lucky enough to attend a Coin Show, so you can see what he bought for $10,000! I would have passed on some of his buys but all are really nice!

 

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IMO, Just another member of the IDIOCRACY ...but, unfortunately, there are others who will follow his lead.
Must be nice to have more $$$ than brains.
3¢ worth of gas please,
J.T.

 

Anybody with more patience than me want to summarize what he thinks was worth $10K? No way I'm paying 37 minutes for a pig in a poke.

I do see what looks like a slabbed modern 1/4-oz eagle and a couple of cards of gold pinkie nails. Doesn't give me a real positive impression of this guy's common sense.

 

That was 10K worth ? I see maybe $4K not 10K

 

If the price of gold continues to climb, I would hate to think about what that means for the American economy and the long-term prospects for the value of the dollar.

 

Wow. Does someone want to contact him and tell him how he is doing it all wrong?

I guess he doesn't say he is buying for PM investment. Folks, if you are buying for PM investment, please watch that video and do everything the exact opposite of what he did, and you are in good shape.

@spirityoda , yeah, either he got fleeced or it wasn't $10k.

 

The premium on the 1 gram PAMP bars are very high. (not a good buy at all).

 

My "order of priority"

1. Take care of family
2. Emergency fund, (amount depends on how much you make)
3. No credit card debt/personal loan/etc.
4. Long term investments
These should be a mix of bonds, equities, PM, land, etc. PM is a good hedge versus USD, and so is foreign equities or land overseas.

That is where any PM purchase should fall. Have a credit card balance? STOP buying pm and pay it off. Any debt except for low interest debt to finance a home or rental properties is bad.

Now, if its a budgeted line item for your relaxation, coin collecting is great. But any REAL money should be spent in the order listed above, (in my opinion of course).

Btw, I think its pretty weird a dude spends money at a coin show and then posts a video of it online. He doesn't think anyone might recognize him from Youtube and think, "Hey, that is a pretty good target to rob"? If I ever made any video like that, I think I would start it off with, "so what you see here today is ALWAYS stored in my SDB. Do not worry about if my home contains any of this, since it DOESN'T, or, you know, not post on the internet your face and how much gold and silver you have.......

 

No reason to base this on but I think the pm's are due for a price correction before continuing the upward trend.

 

No way, I can't remember ever buying a coin or PM's with a CC, that don't work for me!

I was thinking the same thing, it just don't add up!

 

Mr. Nut,
Just as long as Au doesn't go lower than $900/ounce...correct away!
When I started saving and putting together my 'poot-folio' (during the Eocene) it was de rigueur to have 20% invested in PM's.
I just went along with the investment broker's advice THEN, but don't believe they would be giving the same advice NOW
Quien sabes?
J.T.

 

If it went lower than $1500 I'd be surprised.

 

I'll be surprised if it doesn't. Eventually.

Then again, I made my big return into the hobby in the 2010-2011 timeframe. "To the moon" was great, but re-entry and splashdown was rough.

 

Oh yeah, and they're selling for those high prices as well! There's a lot of fear based buys going on as many people are not paying their mortgage payments as they're without jobs! Many people are thinking the homeless population is going to explode and the Corona virus? There's so many things going on at once we're in deep caca!!

 

A Corona virus? If I were a drinker that would sound cool to me.

Sorry, couldn't resist. I think you mean coronavirus, one word no caps.

 

Yeah, I see it written both ways, but you win, that's fine!!

 

the world is always going to end tomorrow according to gold bugs

 

The only time I have seen it Corona virus was the author playing with words. Not trying to win sir, just saying.

 

Yep, I just looked around and you're definitely right!