Is it wrong to hope spot price keeps dropping??

Discussion in 'Bullion Investing' started by WildWest, May 27, 2019.

  1. WildWest

    WildWest Obsessive Compulsive Disarry

    I’m planning on making several substantial purchases the coming months, as well as acquiring as much cheap 90% as I can for spot or less. Right now I’m buying it for 10x face and I’m hoping it goes even lower! I love stacking silver at these prices as I’m just re-entering after sitting on the sidelines after selling all my bullion around $20-21 in the summer of ‘16.

    As for gold I’m loving it if it goes under $1250 and preferably lower. My time frame is as long as it takes so I’m hoping for a drop or two in the coming weeks.

    So who’s with me? As long as your dollar cost isn’t in the 20’s, I assume you don’t mind these drops. Hopefully one day we will look back on these prices..and hopefully some lower...and laugh. As for me, I’m happy with a drop, as I’m going to start buying some bullion coins and stack it hard in the coming months. Cheers!
     
    Last edited: May 27, 2019
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  3. baseball21

    baseball21 Well-Known Member

    It's not wrong to hope that, but it could and likely will be a half century before you see any substantial movement upwards
     
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  4. WildWest

    WildWest Obsessive Compulsive Disarry

    50 years??? Well that’s a little longer than I’ll be around..hrmmm.
     
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  5. baseball21

    baseball21 Well-Known Member

    The two biggest spikes in recent years were the 1980s and Around 2011ish. There is absolutely nothing that says it will go up again any time soon and should not be viewed as an investment
     
  6. WildWest

    WildWest Obsessive Compulsive Disarry

    I ageee..but I also think that $20-25 isn’t out of the question..which is a solid exit point for me to make a tidy profit.
     
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  7. baseball21

    baseball21 Well-Known Member

    That's also for all intensive purposes double today's spot price and a price that hasn't been seen since it was falling almost a decade ago
     
  8. WildWest

    WildWest Obsessive Compulsive Disarry

    $20? It’s $5.50 away. $25 would be a bonus. And neither is twice as much. $29 would be twice a as much. I can see $20 easily in the next 5 years.
     
  9. baseball21

    baseball21 Well-Known Member

    You're entitled to your opinion, you might want to check the price charts of history a lot more though.
     
  10. WildWest

    WildWest Obsessive Compulsive Disarry

    I’ve checked them for many years..I understand how this all works...trust me...but the fact is your “double today’s spot price” math was way off. All I’m saying is I can see $20 in the not too distant future. And that’s all I would need to make a nice profit.
     
  11. Santinidollar

    Santinidollar Supporter! Supporter

    It’s no more wrong to hope for a PM price pullback than it is to hope for a stock pullback before buying.
     
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  12. TheFinn

    TheFinn Well-Known Member

    You don't have to only rely on spot going up. There is also the factor of the dollar depreciating faster. That is guaranteed.
     
    WildWest likes this.
  13. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    I think that is wishful thinking, i hope it goes to $1...LOL, but you do have to
    set individual goals for where you want to be for example i am waiting for Platinum
    to go back under $790 that,s my major buy in, but still am buying at least 1/2 OZ
    A month as it is still low enough to make money in the future.
     
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  14. Seattlite86

    Seattlite86 Outspoken Member

    For those of us who like facts. Here’s one for you. https://www.grammarly.com/blog/for-all-intents-and-purposes/

    Anyone who thinks past performance is an indicator of future performance is not a student of economics. Stop assuming people don’t do things like look up historical gold/silver prices, just because they disagree with your fool-hearty 50 year prediction.

    @WildWest I enjoy seeing precious metals fall, because it makes my wish list cheaper to check off :)
     
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  15. fretboard

    fretboard Defender of Old Coinage!

    Well, I'm happy to see I'm not the only one preparing for the next PM frenzy! :D
     
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  16. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I don’t make myself crazy anymore speculating on PM futures. I enjoy PM’s and buy them because I believe they are an affordable way to leave something fun, educational and of value for my kids/grandkids. If it happens to climb, I am happy for the kids. If it falls I am happy because I can enjoy more of the stuff.
     
    NLL, Stevearino, medoraman and 7 others like this.
  17. WildWest

    WildWest Obsessive Compulsive Disarry

    Exactly. That type of thinking is flawed on many levels. The past has nothing to do with what the future may bring when it comes to precious metals, stocks, etc. And those who think they know what will happen with certainty are usually wrong.
     
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  18. Collecting Nut

    Collecting Nut Borderline Hoarder

    Are you aware that JP Morgan is under investigation for price fixing silver? The bank has over 850 million ounces of silver and the overall feeling is they are deliberately driving the price down.

    Investigations take forever and the outcome is rarely what one expects. There is no guarantee on pricing. I love silver but it's buy at your own risk,
     
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  19. John KENT

    John KENT Member

    I like watching the price of commodities and looking for trends. I recently noticed Bitcoin making a big comeback in 2019, mostly Chinese buyers who have few options to escape a decline in their currency. No big deal except the price of precious metals didn't seem to change much, so are precious metals still seen as a safe haven from currency, or a hedge again inflation? Maybe digital currencies are more convenient than precious metals nowadays. Say it isn't true, but the recent volatility could lead one to that conclusion.
     
  20. Dougmeister

    Dougmeister The Coin Scavenger © ¯\_(ツ)_/¯

    >Is it wrong to hope spot price keeps dropping??

    Uh, "no"...?
     
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  21. -jeffB

    -jeffB Greshams LEO Supporter

    They have over 10 billion dollars in one asset, one that provides no interest income or dividends, and imposes significant storage costs -- and they're trying to drive its price down? Hmm.
     
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