Gold and silver down again...

when will gold find the abysmal bottom??
https://www.bullionvault.com/gold-price-chart.do

 

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Go (down)! Go (down)! Go (down)!

 

It's unlikely to go below zero.

 

As the economy recovers and the fear subsides, PM's will slide back close to where they were when the crash and fear began in 2008.

 

http://www.cnbc.com/2015/07/16/gold-is-on-the-cusp-of-a-major-breakdown-technician.html

 

The flaw in that analysis is they pick a pre-crisis price of $873 in 1980. The pre 2008 crisis price was $400 to $600 - the $873 1980 price was when gold skyrocket for a short time and then fell back to $400.

In addition, what's not factored into that analysis is the "panic factor". As gold slides back to the pre 2008 economic crash price, there most likely will be panic selling, which would cause gold to go below the 2008 price.

I'm looking forward to the new low price, as I'll rebuy my gold collection I sold when gold was around $1,600.

 

good time to buy silver.

 

All of my previous post applies to silver too.

 

so buy or wait ? (silver)

 

That's up to you. I do not buy into a market that's trying to crash, trying to return to its pre-panic level. But then, I can't see the future, so the next crisis could come along and the panic could start all over again. As for me, if PM's do ever get back to the pre 2008 level, I'll probably put some away for the next crisis.

 

The armchair economists on TV are saying gas prices will dip below 2 bucks a gallon this summer.... if oil goes that low PM's will follow.

 

Yep, and all due to ending embargos on Iran - now Iranian oil enters our market - love it.

 

Then why is our Cali gas going up up up!?!?

 

How long was that embargo for?

 

The Iranian oil hasn't hit the market yet. The projection is for $2 gas by September.

This is probably a factor in the current PM decline. Lower fuel costs = a better economy = lower PM prices.

 

I think since the 1980's.

 

Because you are being taxed and paying the penalty of having your gas trucked to you.

 

Of course those are factors determining what a local will pay - still every local should see a significant decline in what they pay around September.

 

By the end of the year silver could be around $10. or less and I'm loving it.

 

Oil companies do not want to see $2. gas. They will fabricate some sort of reason to jack the prices up.