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Gold and silver prices are down

Discussion in 'Survival Forum' started by Rider, May 9, 2012.

  1. samandglove1

    samandglove1

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    I did buy a bunch of different Sovereigns at below spot using eBay bucks last night. I maxed out on one account and had to use another.
     

  2. richc

    richc NES Member

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    Ash,

    For a different account, are you able to use the same credit card number?

    Thanks

    Rich

     
  3. samandglove1

    samandglove1

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    I did buy a bunch of different Sovereigns at below spot using eBay bucks last night. I maxed out on one account and had to use another.
    Hi Rich,

    I’m not sure. I gave my daughter an Amex that I pay for, and bought using her eBay account. I don’t know if it would work the other way.
     
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  4. richc

    richc NES Member

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    Daddy, when do I get MY Amex???

    :)

     
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  5. samandglove1

    samandglove1

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    I need to be nice to her. Hopefully she takes care of me when I get old....
     
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  6. Win

    Win NES Member

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  7. Win

    Win NES Member

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    $1,358
     
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  8. Varmint

    Varmint NES Member

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    Gold is a hair below $1360 in the pre market. It’s the moment of truth. The Gold Suppression Team must be up early.

    I still think it’ll fail and revisit $1250, probably if the Fed doesn’t cut rates next week. If they do cut though, I think we break through resistance.
     
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  9. yogi

    yogi NES Member

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    I just picked up the Appollo silver 5oz coin....first curved coin....very attractive to me...I like the 5oz coins as I display them...expensive over spot but you see so many details
     
  10. Varmint

    Varmint NES Member

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    The Fed announcement is like 1 pm Weds. If they cut rates, gold will probably start a new bull market.

    If they strongly imply a July rate cut, gold should stay strong.

    If they say more patience and don’t indicate coming cuts, gold and the stock market will tank.

    Should be an interesting week.
     
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  11. richc

    richc NES Member

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  12. Varmint

    Varmint NES Member

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    Yeah, six times in 5 years gold has reached around $1360 and failed to break through, so that's a good bet.

    Unless the Fed cuts rates tomorrow, or says they're gonna cut in July, gold is gonna go down hard, imo. Stocks too.
     
  13. richc

    richc NES Member

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  14. Varmint

    Varmint NES Member

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    I'm hoping for a good Ebay bucks deal this month since it's end of quarter, and they already did a 13% deal, so they seem desperate. Just need the Fed to hold off on rate cuts tomorrow to get gold prices back down. :)
     
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  15. richc

    richc NES Member

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    Gold nosed above $1360.

    Personally I think it is either going up or down...
     
  16. Varmint

    Varmint NES Member

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    I think the market didn't get the Fed news it needed to break higher (gold or stocks). Yeah, they dropped the word 'patient'. Is that worth a new all time high on the stock market, the word 'patient'? Don't think so.

    I think we'll tank tomorrow, gold and stocks. They will try to force the Fed to move beyond vaguely dovish words and do actual cuts.
     
  17. richc

    richc NES Member

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    Up over $1370.

    10 year treasury below 2%
     
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  18. Varmint

    Varmint NES Member

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    There was probably massive amounts of algorithms set to buy gold if it went above $1360. But the big banks may try to stop it, tomorrow’s gonna be real interesting!
     
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  19. richc

    richc NES Member

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    Hit a high of 1385 tonight.

    Back down to 1380.

    Somebody is buying...
     
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  20. richc

    richc NES Member

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    I'm guessing there's a fair bit of short covering in that spike.

    That RuhRoh moment a short realizes the market is moving hard against them...

    :)

     
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  21. Varmint

    Varmint NES Member

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    Yeah, for six years gold has stopped dead at $1360. Tons of shorts probably had their stops at like $1362, look how it went straight up from there.

    Will be a battle today!
     
  22. richc

    richc NES Member

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  23. richc

    richc NES Member

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    Interesting... today I've received several emails from reputable vendors asking if I'd like to sell some PM's.

    Not something I see very often or at all.
     
  24. samandglove1

    samandglove1

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  25. samandglove1

    samandglove1

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    I hope I receive another eBucks opportunity before the quarter ends.
     
  26. Win

    Win NES Member

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    FWIW

     
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  27. Varmint

    Varmint NES Member

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  28. Varmint

    Varmint NES Member

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    My gold mining stocks are going bananas, never seen a day like this, though I’ve only owned miners for 2-3 years.

    Even a lot of the tiny juniors are moving.
     
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  29. richc

    richc NES Member

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    Price crossed $1390 for a bit and backed down to high $1380's.

    See, I told you the price was either going up or down!

    :)
     
  30. Varmint

    Varmint NES Member

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    So much buying today it might be hard for the banks to drive it back below $1360. Would love to see a close above $1400.
     

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