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NOW what the f**k is going on with Gold/Silver-?



Okay, I am beginning to lose my mind now (as well as a large chunk of my savings). For 3 months now, I sat on my hands as Silver plummeted from $21/oz all the way down to $16/oz, and Gold from $1030/oz back down to $850/oz.

Despite record Oil prices, record inflation, record debt, and record declining value of the U.S. Dollar, what should have been going up in contrast was instead also going down.

Finally, in the middle of May a glimmer of hope. Silver bounced back a little from $16/oz up to over the $18/oz mark. Gold got up as high as $930/oz. It looked like there might finally be some sustained upward movement in metals (commodities) that would finally help to erase the huge (on paper) loses of most of my life savings.

Then, in just the last 3 days, the bottom totally drops out all over again! why?. What the hell is going on? Silver is crushed all the way back down to the $16/oz terroritory again. Gold has nosedived back to the $800s/oz. And all of this in just a mere 3-4 days (erasing the multi-week climb back to respectability from the earlier lows).

What the heck is going on?
How can commodities lose 20-percent of their value, in these so obviously troubled economic times?


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Well, CHECK THIS OUT!

http://www.youtube.com/watch?v=ivEGITmMazc

"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson

government of the people, by the people, for the people
---

Read the Aden sisters

they are the best at big picture.

If you are not a trader you should NOT trade....if you do, the traders will get your money.

You want to see some misery?

A whole lot of guys shorted oil at $100 a barrel. the shorts in the oil market have been getting creamed for a year now.

Learn markets before you risk savings on commodity buys. NEVER buy a graph that is peaking...(look at oil)...walk away.

Unify

I like the Aden sisters too!

I like the Aden sisters too! they have been around for a while!

as for me and my home, we shall worship the LORD

good advice!

Richard Russell snippet
Dow Theory Letters
May 29, 2008

Extracted from the May 28, 2008 edition of Richard's Remarks

Gold down, silver down, oil down (maybe), copper down, sugar down, cotton down, rice down, wheat down, CRB Commodity Index down -- what the devil is going on? Is the world deflating? Or is the world just taking a "time out?" My guess -- a time out. There were too many up-spikes, too much leverage, too much hysteria, too much hype. Give it a rest.

Gold -- Worried about gold? Don't be. Like most of the commodities, gold is "cooling it." The correction continues in gold, and we can see it clearly on the weekly gold chart below.

At its March high gold got too far away from its 40-week moving average, and now it's letting the 40-week MA catch up to its current price. The weekly histograms are now close to turning up, and the slow stochastics at the bottom of the chart appear to be scraping the bottom.

Personally, I'd buy gold here before I sold it. I think we saw the low for gold on May 1 when June gold hit a low of 849. The 40-week moving average for June gold stands at 843. So 843-849 -- that should be about the low area for gold.

Sit tight.

Get some sun.

Stop worrying.

Are we becoming apathetic again? Is gold more fun than

freedom? Murray needs to win on 6/3 and he needs donations.
http://www.dailypaul.com/node/50685

Do you think it's so easy to keep your gold just because you bought at a lower place? What good is gold without LIBERTY!

"first by inflation, then by deflation, the banks...will deprive the people of all property" -Thomas Jefferson

government of the people, by the people, for the people
---

First of all, you made the

First of all, you made the mistake of buying at the top. You should buy on contractions during the bull market, it's a common mistake for people to only be confident enough to buy when it's all the rage, only to see the inevitable correction and freak out.

Second of all, even with bullish fundamentals, gold and silver will see volatility. You need to understand this and stop looking at short-term performance. Instead of freaking out and selling for a loss, the bull market will SAVE YOU if you wait. These are the times in the bull market you have to be looking to add to your position, not selling.

I do not care how far it

I do not care how far it drops. I will continue to bet against the dollar. Only if there is deflation, the dollar will be king. Temporarily.

as i have posted before...

silver could pull back to $15.70-ish an oz. or into the $15.50 an oz range. Silver and gold have been range bound now for a couple of months. i'm buying between where we are now, $16.70 oz - $15.50 oz. on the bottom of this price channel. anywhere around $16.00 oz i buy some more. when we break above $20 an oz in silver again and blow out of this range channel that silver is trapped in for the moment...it will fly up. but anything below $20 oz is probably a safe buy. you will get more ounces per dollar if you buy at the bottom of the range though.

be blessed.

2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

i guess i bought really well

i guess i bought really well since my average purchase was at the bottom of the range around 5.50 per ounce huh!

as for me and my home, we shall worship the LORD

yes...Sierra...

you did Very Well...now why are you always trying to pick a fight with me?

what year would you like to talk about? this year or 2 years ago? i don't think anyone lives in 2 years ago time...but the here and now.

2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

and trying to purchase at

and trying to purchase at the bottom of the range and trying to figure the bottom of the range is like trying to pin a tail on a donkey blindfolded! all you have to do is understand that because of the government overspending--- warefare and welfare- and the federal reserve printing press running so hard smoke is coming off the bearings. you know that 3 to 5 years from now silver will be much higher.. and if you would just go read Ted Butler like I have begged and pleaded with everyone for the last 6 months you would understand that there is so much more to the silver equation then just the economy and the devaluing of the dollar! good advice from Ted Butler here! http://www.investmentrarities.com/05-27-08.html Christopher... go read Ted butler.. you will have atleast a full week of reading.. then tell me where he is wrong. same with Jim Sinclair!
www.jsmineset.com as I have said before.. all this trying to guess where the price is going and when to buy and when to sell is small potatoes! you have to understand the long term trend not the short one.. anyone who purchased silver at 21.00 bucks will look back in 2 to 5 years and say.. DANG i shoulda bought more! give the analysis stuff a break ! look and see what gold and silver has done since 1998 till today.. not what it did 2 months ago.. the trend is your friend...

small potatoes???

use your calculator and figure this then. if i am spending $10,000 to buy silver with, how many ounces would i have at $21 an ounce, and how many ounces would i have if i bought at $16 an ounce??? and when the price per ounce goes up to $50-$70-$100 an ounce what would the value in dollars be between the 2 purchases?
then tell me which is wiser.

2Chronicles 7:14 If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land.

As long

As long and the price of silver is down I will keep buying and holding; taking as much silver off the market as I possibly can, doing my part to drive the price up. Be patient if you can afford to.

Dumping of the dollar

Gold has jumped from around 300 to where it is now in less than a decade. I don't think this is anything to scoff at.

However, it is still going to go up because of foreign nations that will begin to dump the dollar. Other countries that used our dollars as international currency are realizing they will inherit our problems if they keep bailing us out by accepting our worthless paper. If you want your confidence in gold back then research the countries, especially OPEC nations that are moving out of the dollar. Also, remember that China can break us but not the people who own gold.

Hmm

What pray tell does this have to do with the revolution and how does this thing keep climbing up the active form ladder? Other than this post asking why it keeps showing up.

lol

lol

_____________________________
"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- Joseph Goebbels

I think this issue...

keeps popping up because individuals here are just as concerned about America as Ron Paul is. We know if we do not tie our currency to something of value we will be the next empire to collapse. If our government continues this shell game we will all lose. Silver and gold are valuable.

Well

The good DR. does want to return to a gold standard so i guess it could hold relevance. But this is a selfish post. It doesn't address that. It only goes on to cry and whine about his holdings and why this is happening to him. I hold silver and own 60k shares in a gold mine. Its called going long. But post's such as these belong on a Yahoo Finance page. Not the great Daily Paul.

silver and gold should be seen as long term investments

and as such are great. When you see people "crazed" to make a few quick bucks you WILL see fluctuations. Hang in there^^-only invest what you can afford to save.

ecorob's picture

some good advice, some bad is what you get below...

so here's mine...for what its worth...

i've been buying silver for several months now, not close to a year, only several months which means my average cost per american eagle was about 20 bucks a piece

bottom line...i am as happy as a pig in well, you know...i FULLY expect it to go to 30 bucks an ounce before the end of the year (time will tell)...just like gold last year up and down up and down then, at years end, BOOM!

let the market correct itself fellow patriot...let the money manipulators buy short, drive down the price so they can buy long and then watch your gold explode

but hey, if you get itchy feet and feel compelled to sell...i'm still buying!

i will tell you this, however, i also buy canned food and ammo to protect my silver

good luck, my fellow patriot, keep the faith and, more importantly, keep your silver (or, sell it to me!)

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Me too

My sentiments exactly. I've been letting the daily roller coaster ride stress me out too much lately. Just look at a 5 or 10 year historical chart of the gold/silver prices in USD. I don't think they will stay down for long.

"The sinews of war are infinite money" ~ Marcus Tullius Cicero

to you panicers! (if that is

to you panicers! (if that is even a word) read Richard Russell!

http://www.321gold.com/editorials/russell/russell052908.html

as for me and my home, we shall worship the LORD

"Panicky People" might be a

"Panicky People" might be a good substitute.

..................
"The main thing that I learned about conspiracy theory is that conspiracy theorists actually believe in a conspiracy because that is more comforting. The truth of the world is that it is chaotic..." —Alan Moore

Look at this site

Try looking at The International forecaster. This site can explain the behind the scenes games going on in the markets. Hang on to your metals, the best is yet to come.

http://theinternationalforecaster.com/

well...

If you believe there is going to be a total economic collapse gold and silver shouldn't be something your putting all your money into, instead I would put a majority of it into buying guns and food as both of these resources will never lose their value. Good or bad economic times will always guarantee you getting decent money off a gun sale and surplus food can you can always eat later on.

I buy Gold, Silver, Lead,

I buy Gold, Silver, Lead, and Bread.

Things are only impossible until they are not.
-- Jean Luc Picard

Things are only impossible until they are not.
-- Jean Luc Picard

i'm with you brother! as for

i'm with you brother!

as for me and my home, we shall worship the LORD

Go here

http://www.silverbearcafe.com/private/home.html

It has a lot of good advice for those interested in gold investment.

I look at my precious metals

I look at my precious metals as 'safety' as I truly do NOT believe in this fiat money nor do I believe it can long continue. I started buying silver in'03 when it was a tad over $6. When each month ends I get rid of the fiat money by buying whatever silver I can...if I need it what the heck..I just go cash some of it in.

there ya go! good

there ya go! good choice!

as for me and my home, we shall worship the LORD