13 votes

Gold down big time today.

Just checked Gold prices today and it's down 34 dollars today? Why's that, why such a huge drop? Just curious, thanks a lot everyone.

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question is WHEN to sell

You can sell it all the time but in markets like these you want to hold to it until it goes into a bubble. The bubble starts when you hear all over the TV that gold is the best investment you can make. That is the time when you need to think about selling it. The demand will be bigger then the supply.

This will only reverse when there is something that the people again trust in.
In between these two situations is the best moment to sell and you wont have any problems to sell it as people will want to have gold like crazy as its the only thing that will secure them to hold onto some of their riches as tomorrow the money could be worthless.

You just need to think for what you sell/exchange it.
If there is no secure money around then you better buy stuff that you can use and maybe sell later when there is a trusted currency around again.

This is a very cruel part as you profit from the people who didnt saw it coming. Optimal would be if it was for example Mitt Romney. You might get his ranch with the fancy car evelator for some ounces worth 10 000 dollars today.

So you can always sell. Question is for what price and for what is worth.

In a Ron Paul free economy we would have a fair market where the demand dictates the prices. In todays economy the one who knows it first profits the most.
This is way the FED is private and the insiders are moving money back and forth while collecting the differences from the people.

The truth about markets is

That gold has been going up EVERY YEAR for the last 10 years. It is an open secret and the way markets work, when everybody is on one side of the boat, it sometimes pays to be on the other side. So don't put all your eggs into gold.

The irony is that as more and more people are aware of the shenanigans at the FED, the more constraints put on the FED and in a deleveraging cycle, deflation is the norm and gold will not do well. I.e. the more successful Ron Paul is in containing the FED, the more valuable USD will be, to the detriment of debtors.

There is no safe haven and you always have to be 2 steps ahead of the market. and it is better to be 2 steps ahead than 10 steps ahead.

Again, there is no safe haven, you either pay the INFLATION TAX (i.e. holding cash and watching it devalue) or you pay the SPECULATION TAX (i.e. holding commodities and tolerating volatility).

Only way to stop this craziness is to get into a non-political, commodity based currency so we don't have to pay that inflation tax and we then have a choice regarding speculation.

Good luck with your portfolios and watch your leverage!

buy opportunity

When the price goes down, I buy. If it goes down more I'll buy more.

Yes, it's way down from it's $50 high, but it has rarely dipped below $30 since then. Not sure what's going to happen, but I know I don't like saving in dollars, that's for sure.

I think the truth is that until a collapse of the dollar or fiat currencies all together happens, precious metals will be moving with the market. But when/if it hits, it's going to send PM prices way up - and it's impossible to know when that would happen unless you got a crystal ball somewhere. So that's why I buy now...

I feel the same way

I do think the dollar could possibly rally as the Euro situation shakes out but eventually the world will focus on the US. At that point, it'll be good to own gold. I listen to financial podcasts and I hear more and more economists saying "this is the buying opportunity of a lifetime". These are people in the PM industry, though, so keep that in mind. But, for whatever it's worth, I have been buying.

Buy Buy Buy

It will probably never be this low again!!

Until next week! ;-)

Then buy some more.

Would now be a good time to

Would now be a good time to buy gold or silver? I have a few thousand that I could invest but I don't even know where to begin. If anyone could give me some leads it would be very much appreciated.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin

Short answer: yes

Longer answer: It depends on *why* you want to put your FRNs into gold/silver. Do you want gold./silver to make a profit? To store value? For a SHTF scenario? A hedge against inflation? Or maybe a little of everything?

I ask because why one wants gold/silver is a good way to determine what size bars to get (assuming you get bars at all). You're probably not going to barter with a 50 oz bar of silver should SHTF just as you wouldn't buy hundreds of 'junk' silver coins (that typically carry a high premium) with the intention of making a profit.

As far as gold coins go, if you're getting them just for their weight in gold, then look for common coins (which typically carry a lower premium) like Krugerrands, Double Eagles, and Maple Leafs. No need to get some exotic/rare coins that'll cost you a few hundred more and won't be widely recognizable when you're looking to get rid of them.

A signature used to be here!


I have been poking around reading articles and trying to get a handle on gold investing. One of the first things I took note of in an article is to ask your-self why. So, your asking me the same question has only caused me to really ponder this.

Of course profit would be nice. I am not sure how large of an investment that would take and being new to all this there is a good chance I could get taken for a ride or just foul it up all on my own. Those two factors make me want to hold back until I am a little more knowledgeable about the subject. I noticed someone in this thread suggested a link to GATA. After reading a little their and watching the Gold Rush 21 trailers I am convinced that now is the time to make a move even if it is just a little one.

At this point, with every thing that is taking place with the Fed and the market I feel that preparing for SHTF scenario is the best move. I have a job to make money enough to live on and am still young enough (31) to make investments in time.

That said, and I don't mean to be a bother, I will be looking to by some coins. Could you suggest a good place to start? Thanks for your advice thus far. It nice to meet people on the DP that are willing to take the time to help another.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin

Sure thing

A lot of people have making a profit as one of their goals in the back of their mind, including myself. As far as how much you'd need to invest in order to see a sizable profit...I'd say start with a 50 or 100 oz bar of silver and see how comfortable you are with holding something like that. I personally only use gold as a store of value though; I believe that time for making a nice profit off of gold passed a decade ago (though with all the market manipulation these days, I certainly could be wrong...)

,,,and that's just it. The physical PM market is small and easily manipulated. Even though storing your wealth in PMs (especially gold) is fairly low-risk, you can still screw yourself over if you're not careful/paying close attention).

If you're preparing for a SHTF scenario, then I'd suggest picking up Morgan dollars and other 'junk' silver, maybe throw in a half-ounce gold coin or two if your budget allows it. Of course, ammo/food and other gear takes priority over PMs at this point.

As far as where to start, a lot of people swear by the APMEX website, but personally I don't want any paper trails and I'm more of a 'face-to-face' kind of guy so I go to coin dealers. If you're lucky enough to establish a rapport with a dealer, you'll be able to talk your way into a nice discount. I'd stay far away from ebay, though.

And it's not bother at all, always happy to help those when I'm able to.

A signature used to be here!

Buy gold or silver coins

American Eagles are best (both metals) Many people like "junk silver" also.

I have found APMEX to be very reliable and reputable. They will keep you posted at every step along the way through emails, and also have a very helpful staff to answer questions.



Thanks. Just took a quick look at the link and can tell that it is going to be very helpful. I appreciate that. It is so nice to have people that will help here on the DP.

"Only a virtuous people are capable of freedom. As nations become corrupt and vicious, they have more need of masters." Benjamin Franklin

Gold Climbed Rapidly Somewhere Around The Housing Boom

or bust. It was bound to decline as those that bought feel that it has topped out and now abandon for other investments. If the dollar gets in danger again then it will swing back up.

How can we be on the brink

of hyperinflation if gold is falling against the dollar?

"When the power of love overcomes the love of power, the world will know peace."
Jimi Hendrix

Right now, the dollar's move up is due to

the euro falling. The mess in Europe, the French elections and the Greece uncertainty is causing investors to move into the "safe haven" of the USD.

It's a race to the bottom, and right now the fear trade is moving folks out of the euro.

Good Question

Gold isn't the only thing falling against the dollar. I would have a backup plan if inflation proves not to be real economic threat everyone still seems to be so concerned about.

"Gold isn't the only thing falling against the dollar."

Seems the big financial guns are hording the dollars they receive from quantitative easing (QE)and keeping them out of the hands of the real economy while artificially leaving gas prices at the pumps high in relation to oil to give the appearance of an inflationary depression as the banker's money (the dollar) continues to appreciate.

"When the power of love overcomes the love of power, the world will know peace."
Jimi Hendrix

It's putting in its intermediate cycle low.

Following cycle theory, we've been watching and waiting for this for the past two weeks. If it can REALLY flush out to the $1550 level, I will be loading the boat. Just nibbling here at the $1600 level. Don't despair, it'll be much higher in 6 months.

SteveMT's picture

The key word in your post is "today."

What will get to zero first is the question? Commodities or paper assets? If people rather own fiat dollars, or commodities of value or practical use, then they should choose wisely.

Consider posting metal issues on this thread:
Silver Up +15% 1st Q> Gold $1,600.00 Silver $29.20 Dollar 79.80

Silver isn't up 15%

Silver was at $50/oz 13 months ago. It's about half that much today, one whole year later.

SteveMT's picture

Up 15% for the 1st quarter of this year.

That is all that this info is meant to highlight... 3 months.

Old News....

So the Hindenburg got up into to air too, but it didn't stay there.

But the truth is...Silver has plummeted over the last full year, and there is nothing but a downward trajectory.

An isolated, and arbitrary three month snapshot is meaningless data...

SteveMT's picture

Look in the mirror. Why did you pick a one year time point?

Isn't that an artificial time point as well? Why not four years ago when silver was $8/oz? What is meaningless to some is not to others. A quarterly time point seemed reasonable to me. Thanks for letting me what you think of this information.


Just incase you missed it

ALL Sectors of the Market have plumitted today!

Why you ask?

Well it appears Frances new president-elect Hollande is a socialist

His plan is to tax the "rich" at 75% destroying any chance to get France out of a recession. Germany is not happy. Americans are scared.

This is causing much speculation and the markets are reacting. This is prob just the beginning of long slide down for the euro.

And we are suppose to bail the socialists out? NOOOO

To arms! To arms! The Redcoats are coming!


Just hold on they are trying to pound the stock to force you out so they can buy up the gold. Many traders set a “sell stop order” so if you can gauge or have insider knowledge of were they set their stop order you can manipulate the market. So paper pushers especially those trying to get out of paper in fear of inflation into the gold they pound the stock the automatic sell orders activate and it starts a cascading effect then they buy into gold at a cheap price. I’m buying as much as I can right now. It’s a steal. This is why you need to pay attention to a long chart and ignore daily fluxuations. If you look at the long chart you’ll see a steady incline. You could look at what they’re doing as a reverse pump and dump. Instead of pumping up a stock through MSM and mail-in propaganda they already hold then sell taking in a big profit before it collapses they pound at stock of long term value like gold then buy at a lower then market price. It’s a win win for them. They get rid of their devaluing dollars and buy into gold at a lower them market value.

“A sell stop order is an instruction to sell at the best available price after the price goes below the stop price. A sell stop price is always below the current market price. For example, if an investor holds a stock currently valued at $50 and is worried that the value may drop, he/she can place a sell stop order at $40. If the share price drops to $40, the broker sells the stock at the next available price. This can limit the investor's losses (if the stop price is at or above the purchase price) or lock in some of the investor's profits.” – WIKI

“A sell stop order is a common way to use the "stop" order type. It is much more popular than buy stop orders. Sell stops are placed as a form of protection for the account. A sell stop basically forces the brokerage account to automatically sell your stock if it falls below a specified price. This ensures that your losses are limited in the event that adverse market conditions take a turn for the worse. Many traders immediately place sell stop orders after their buy orders complete. This way, they do not have open positions that carry large risk. They define the most money they are willing to lose, then create the sell stop order to meet that criteria. They refer to this strategy as "using stops."” - CHRON

WARNING: Watch what gold stocks you buy they will swindle you and you wont get first delivery if you don't know what your doing. Do your research to know what gold stock to get into and flip your stock into physical for delivery when you have a high enough profit or you could just make it easy for yourself if your not confident in how to do it on your own and call Peter Schiff's company Euro Pacific Capital

Can you explain this more?

"WARNING: Watch what gold stocks you buy they will swindle you and you wont get first delivery if you don't know what your doing. Do your research to know what gold stock to get into and flip your stock into physical for delivery when you have a high enough profit or you could just make it easy for yourself if your not confident in how to do it on your own and call Peter Schiff's company Euro Pacific Capital"

I think you're referring to selling your gold mining stock and getting paid in physical gold. Either that or collecting dividends in physical. But I want to make sure. Do you buy physical? Or do you buy stocks? And if stocks, do you use a regular discount broker (I use TD Ameritrade)? Are you concerned about a collapse of a brokerage firm? Maybe rehypothecation? I know Ann Barnhardt says not to own ANY paper, just physical.




"Beyond the blackened skyline, beyond the smoky rain, dreams never turned to ashes up until.........
...Everything CHANGED !!