Gold and silver prices are down

Rider said:
Our best case scenario would be for precious metals prices to plummet: that would indicate that the markets were doing well, inflation was low, and you could back the truck up waiting for the next time the world flirted with disaster. I don't see that happening, but it's nice to think about.
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But that would also necessarily require that something were to actually begin to be introduced to support/back our fiat currency and thats even on the horizon let alone in a position of becoming a reality

The saddest part of this is that it would be so easy to make the USD the currency that the world has the utmost confidence in......by simply announcing a program to add PM to back up some infinitesimal small % of dollars in circulation it restore confidence, drop inflation etc etc.
 
TonyDedo said:
PMs are the next big economic bubble, and the bubble is going to burst pretty soon, and it's not going to be pretty.
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Looks like that burst isn't happening... There was a pullback during the boom that is QE 2013, but as that QE "free money" is being tapered, we see a move back into safe stores of value.
 
Lots of people view production costs as basically a floor on prices, but that isn't the case. A lot of mining companies can't just stop altogether, and a good amount of metals mined are a byproduct of other mining processes.

You might see some cutback in production, but you won't see the companies stop. One of the biggest problems most mining companies suffer from is cost overruns on new developments, so if anything, you would expect them to slow down the spending on these literal money pits before they stop running existing mines.
 
Rider said:
Lots of people view production costs as basically a floor on prices, but that isn't the case. A lot of mining companies can't just stop altogether, and a good amount of metals mined are a byproduct of other mining processes.

You might see some cutback in production, but you won't see the companies stop. One of the biggest problems most mining companies suffer from is cost overruns on new developments, so if anything, you would expect them to slow down the spending on these literal money pits before they stop running existing mines.
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Plus a lot of the mining is done is countries where the labor cost is lower. Mines in Montana might idle, but in Peru they keep digging.
 
RLBreton said:
Probably not the "right" place to put this but this is a really decent deal on Eagles through Apmex right now. It's less than what Boston Bullion is going for at this quantity - 10-2014 Eagles for $249.99 and free shipping.

http://www.ebay.com/itm/111272071279
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I didn't click your link, but be wary of buying from random people on Ebay or Craigs list. Lots of fakes floating around as I posted earlier in this thread.

- - - Updated - - -

RLBreton said:
Probably not the "right" place to put this but this is a really decent deal on Eagles through Apmex right now. It's less than what Boston Bullion is going for at this quantity - 10-2014 Eagles for $249.99 and free shipping.

http://www.ebay.com/itm/111272071279
Click to expand...
I didn't click your link, but be wary of buying from random people on Ebay or Craigs list. Lots of fakes floating around as I posted earlier in this thread.

- - - Updated - - -

RLBreton said:
Probably not the "right" place to put this but this is a really decent deal on Eagles through Apmex right now. It's less than what Boston Bullion is going for at this quantity - 10-2014 Eagles for $249.99 and free shipping.

http://www.ebay.com/itm/111272071279
Click to expand...
I didn't click your link, but be wary of buying from random people on Ebay or Craigs list. Lots of fakes floating around as I posted earlier in this thread.
 
In God We Trust said:
I didn't click your link, but be wary of buying from random people on Ebay or Craigs list. Lots of fakes floating around as I posted earlier in this thread.
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To each his own--I understand you don't know me from Adam. It's APMEX on eBay with 107k+ positive transactions. Do what makes you comfortable--I just wanted to share.
apmex.jpg
 
RLBreton said:
Probably not the "right" place to put this but this is a really decent deal on Eagles through Apmex right now. It's less than what Boston Bullion is going for at this quantity - 10-2014 Eagles for $249.99 and free shipping.

http://www.ebay.com/itm/111272071279
Click to expand...

Thanks for posting. It still strikes me as odd when a company offers items on eBay for less than they do on their regular web site - and for their most popular items. Before, I was worried that i was being hosed on the spread they charge for silver eagles. Now they have confirmed it.

/scratches head
 
I've used APMEX before (never on eBay) and they are legit, reliable. The funny thing is, if you order $28k in gold coins, they will arrive in a tiny cardboard box the size of a stack of business cards. And yes, the shared secretary at your work will sign for them and plop them on your desk while you are at a meeting.
 
RLBreton said:
Probably not the "right" place to put this but this is a really decent deal on Eagles through Apmex right now. It's less than what Boston Bullion is going for at this quantity - 10-2014 Eagles for $249.99 and free shipping.

http://www.ebay.com/itm/111272071279
Click to expand...
The same lots are over $300 now and the extra $10 off for 2 or more isn't being offered. I'm up $110+ for now..........lol
 
S &P index over the last umpteen years > any increase in gold investment. Basically, you'd be further ahead if you put some dough in an index fund than gold. Correct me if I'm wrong.
 
People buy gold because they fear that digital money will wink out of existence. Or that w'ell see an American economic meltdown of a more gradual form that will still devalue their savings.

hindsight investing dreams make you crazy.
 
There is no gold in fort knox. That's my guess, anyways. The dollar, yen, yuan, euro, are all floated and fictitious and require debt to even survive. Frankly, if you really want to hedge your bets, and are contemplating a genuine disintegration of the global economy, buy food staples and lead. Roving bands of thugs wearing bike helmets with spikes and red bandanas are not going to take gold [wink]
 
A lot of central banks, including India, bought large quantities of gold just under $1,100. I believe that is considered by some to be one of several possible "floors. " drop below that and all bets are off.
 

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