For every boom there is a bust, this sort of thing goes on all the time, The real question is when the Bloom comes off the Chinese Rose, were is the prices of a lot of commodities are going to decline. Look what has happened with ammo, their has been a lot of panic buying you could almost say ammo has become a commodity of sore something that can be traded for other goods and services. At some point its going to go bust, these things always do. Its the herd mentality, get people to panic, and in a panic people tend not to make good decisions. Lest face it with gold you had a lot of heavy advertising to buy it because of well you can name any issue you want. Gold will end up were the market place wants it. So you are fine right now if you bought all your gold at 200 an oz, you are not if you bought your gold at 1800 an oz. Its sort of like what happened with silver in the 1980's when a couple of Texans tried to corner the market. They dam near when bankrupt as I recall.
"Any idiot can face a crisis,it's the day-to-day living that wears you out."
Only problem is gold prices haven't been in a boom. They've been a simple mathematical response to expanding currency supply. What's happening now is emotion-driven. Eventually, reality sets back in, however.
I think I believe MacLorry's experience over yours.
Don't trust me. Do what I did. Call them and ask why the online process that's normally smooth is constantly crashing during the sale process. They'll tell you it's heavy volume. Then try getting an agent on the phone, or even getting one to call you back. Same deal. Unusually heavy sales volume is the reason they'll tell you.
I am sure it is heavy volume due to sale. You said "The metals selling websites are all crashing and burning with the number of folks clamoring to buy."
The markets today say there weren't enough buyers in case you missed it.
I still believe MacLorry over you. He is reasoned, intelligent, and has a clue.
I think I believe MacLorry's experience over yours.
Don't trust me. Do what I did. Call them and ask why the online process that's normally smooth is constantly crashing during the sale process. They'll tell you it's heavy volume. Then try getting an agent on the phone, or even getting one to call you back. Same deal. Unusually heavy sales volume is the reason they'll tell you.
I am sure it is heavy volume due to sale. You said "The metals selling websites are all crashing and burning with the number of folks clamoring to buy."
Very funny. The selling was being done by the sites. Folks crashing the systems were trying to pick up bargains.
The yield is so low on TIPS that there's little downside risk from that aspect. TIPS are being used as a safe-haven when stocks are in retreat, like today. Unlike gold, there's no built-in spread between the buy and sell price of TIPS and if you hold them through a mutual fund, they pay dividends.
The trick will be to sell them at the right time.
The yield being so low is exactly why there is a risk of downside in rising interest rates. The low rate creates an unusually long duration. Long duration bonds react inversely to interest rates.
It really starts at about the 2:45 mark. The interviewer brings up the ability to get out of them quickly if needed. You can see the manager's hesitation of even he being able to do it in a timely fashion.
I realize you have done well in the TIPS and you should have with the longer duration favoring them with lowering rates. My comments about caution is when rates rise due to inflation. That is what can take the TIPS investors by surprise.
Thanks for the info. Like I said the trick will be to sell them at the right time.
if you know of a safe place to invest would love to know. I got out of the market at 14000 and stop buying gold at $1300. Sold off gold last December
Here is my recommendation. . . . can't recommend it enough. Very safe. Max you can lose on any single stock pick is 7-8%. Gains are unlimited but recommended to be take at 20-25%.
"All that the South has ever desired was that the Union, as established by our forefathers, should be preserved, and that the government, as originally organized, should be administered in purity and truth." – Robert E. Lee
In overseas trading Tuesday gold prices rebounded by 1.2%. We'll see what happens today and if the US markets tick up it might signal some sort of bottom has been reached.
Up sixty-two dollars so far this morning. I hope you all took advantage of yesterday's one day fire sale. I sure stocked up. You can bet the central banks did, too.
Up sixty-two dollars so far this morning. I hope you all took advantage of yesterday's one day fire sale. I sure stocked up. You can bet the central banks did, too.
By the time the stock market closed today gold was up just $12.52 from yesterday's historic fall. Given the DJIA recovered more than half its loss today, I'm cautious about buying gold at this time.
I know there's lots of speculation as to why gold has been on the decline since its 4th quarter 2012 level, but historically investors move money to where they get the best return for a given level of risk. If that's what's driving the price of gold then if the stock market rally continues gold's drop will continue. Seeing the stock market rising is likely what turned the price of gold back down from earlier highs today.
I'm not sure "buy now or be priced out forever" is going to work this time around for gold.
But eventually it will be the US' turn at the devaluation trough and gold will shine again. Trouble is Japan jumped into the trough with both feet a few weeks ago, China looks like they are cracking and need to do likewise, and Europe looks like they are next in line. May be a long wait till we get our chance again.
Up $33.00 since yesterday's close at this point. Early morning buying drove it up to $60.00+. Bargain seekers got their buys in, then it dropped, but still up $33.00. But this short term stuff is pretty meaningless in the big picture, as was yesterday and Friday.
If the price goes down a few hundred bucks per ounce then I hope the Fed creates some more money out of thin air to buy gold. That will keep the price up, and if there's a finical crisis in the future they can sell the gold then. Interesting how the Fed can seemingly create gold out of thin air. Of course, central banks have been doing that for a long time.
I'm not sure "buy now or be priced out forever" is going to work this time around for gold.
But eventually it will be the US' turn at the devaluation trough and gold will shine again. Trouble is Japan jumped into the trough with both feet a few weeks ago, China looks like they are cracking and need to do likewise, and Europe looks like they are next in line. May be a long wait till we get our chance again.
Will
Our chance to profit buying gold, you mean?
The tree of liberty must be refreshed from time to time by the blood of patriots and tyrants.
If being stupid allows me to believe in Him, I'd wish to be a retard. Eisenhower and G Washington should be good company.
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