what to expect from gold.
Gold may go back down to the 750.00 to 800.00 area. The COT report is showing the Big 2 US banks are manipulating that market to the short side. don't be surprised if it happens.. When that happens if you have not bought and want to buy, you better get what you can get. from there Gold will skyrocket. Silver will do even better! Please notice Alf Fields elliot wave forcast.. this will take years to play out. Lots of Money to be made in Gold over the next 5 to 10 years.
In The News Today
Posted: Feb 11 2009 By: Jim Sinclair Post Edited: February 11, 2009 at 8:48 pm
Filed under: In The News
Dear CIGAs,
This shall be.
Jim Sinclair:
Gold will appreciate to $1224 and then to $1650. All this will be history by January 14th 2011
Alf Fields:
Major ONE up from $256 to $1,015 (actually 4 times the $255 low);
Major TWO down from $1015 to $699, say $700 (a decline of 31%);
Major THREE up from $700 to $3,500 (a Fibonacci 5 times the $500 low);
Major FOUR down from $3,500 to $2,500 (a 29% decline);
Major FIVE up from $2,500 to $10,000 (also a 4 fold increase, same as ONE)
Martin Armstrong:
A major high is possible as early as 2010-2011 with the potential for an exponential rally into 2015 if there is any kind of a low going into 2011.
Be wise.
Buy paul-ladium! Much better growth potential.
http://bullion.nwtmint.co...
Order Now: 800-344-6468
Order toll free Monday through Friday, 7:00am to 5:00pm Pacific Time.
grant
Keep us posted when it goes back down!
In need of an argument? Visit room 12!
Freedom is only for those with the guts to defend it!
What are you fightin' for?
Caught in the middle?
Freedom is only for those with the guts to defend it!
dup post
.
What kinda bothers me...
if we buy coins for spending when TSHTF... give it to somebody to buy a chunk of meat, for example. We hand him a silver eagle that says $1 on it, but we paid $20 for it. What are we really going to be able to buy with that silver eagle?
Or will it just be for selling back to the dealers for whatever the current market prices is, minus their fees?
--------
Fossils Rock!
'Cause there's a monster on the loose
The $1 thing
shouldn't mean a thing after the SHTF. Do you think the demand for sound money will go up at that point? Demand will eventually raise the value of what it will buy. The $1 denomination means next to nothing now, it certainly won't later. It's most important to have enough food to last for a good six months though, because in the beginning, people will be giving away very valuable assets for food, you don't want to be one of those. When things settle down a bit, your PMs will really shine.
Deluge of Financial Calamities Looming by Mid-March
In the past several weeks, several investment advisors have become more positive about gold because of the relative strength in the price of silver! In the past, silver has led the way for higher precious metals prices, which is just what has been happening so far this year. Late last year, the gold/silver ratio was over 80. Now it is under 70 and falling. I like the prospects for both silver and gold (though I continue to expect silver's price to outperform gold).
Perhaps most telling of all, the February 2009 COMEX gold contract fell into backwardation against the March 2009 contract on Feb. 6 and again on Feb. 9. Last Friday, the February contract price closed at $913.90, while the March contract ended at $913.80. On Monday, the February contract finished at $892.40, while March closed at $892.30. The last time that the COMEX gold contract went into backwardation, where the spot month traded at a higher price than future months, was in 1980. Being only 10 cents higher and only being higher then just the following month may not seem significant, but the fact that this has not occurred since 1980, as the price of gold exploded, could be the clearest sign that gold is due for a major rise soon. (For full disclosure, I note that the less active New York Stock Exchange LIFFE contract for 100 oz of gold closed Feb. 9 at $892.20 for the February contract and $892.30 for the March contract.)
read the whole article here.
ttp://www.thetreeofliberty.com/vb/showthread.php?t=48014
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Who knows?
Who knows what it will do in the short term? I don't know how to get any wisdom from watching the COT numbers. However, the fact that bullish sentient readings for gold are at extreme high levels argues for a correction down. On the other hand, the bulls have their point. What happens if and when the market for Treasury bonds dries up and the Fed starts printing money to buy them?
Wiggle-watcher arguments ...
1) Bullish (double top breakout yesterday)
2) Bearish (overbought RSI of 71)
3) Some of each (various "wave" interpretations)
I know exactly! best to get
I know exactly! best to get what you can while you can.. if you buy at 950.00 and it goes to 800.00 who cares.. at least you have it.. it will come back again!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Keep in mind Gold is a store of wealth not an investment
I have Gold & Silver, and for that matter the other precious metals lead and lead partially encased in a copper jacket, but I look at it as a way to keep what I have not to get rich.
I believe that Gold & Silver will reach highs that we have never seen before and it will be within the year, but will your purchasing power increase as well? It may increase a little, but primarily precious metals are a store of wealth so you can keep what you have and not lose it all to inflation, Gold may be $2000.00 and ounce but at the same time it may take $2000.00
to purchase $900.00 worth of good & services.
Point is buy Gold & Silver ( and lead), to protect what you have, cause we will have inflation more likely sooner than later, and if you want to keep what wealth you have get it out of the dollar and into something real.
An added side benefit is that if you watch close you may be able to actually gain a little in the process of keeping what you have.
Thank you Dr. Paul for making me act on what I already knew was right.
*May the only ones to touch your junk, be the ones you want to touch your junk.*
odell... this time around
odell... this time around Gold and silver will be both a store of wealth and an investment!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Great words of wisdom ODell.
Protect what you have is the name of the game. I am certainly not a speculator is precious metals for the fun of it. If the dollar goes bust soon, we at least have a fail back position using "true" money to buy what we need.
I have an inventory of ounces in the safe
and over the last month or so the value in dollars of my metals has gone up , but also in dollars the cost of fuel, food, and clothing has risen more. Not much more, and I think that soon will correct itself if, and a big if, the manipulation stops, but it will correct itself. And when it does my purchasing power will still be there.
Thank you Dr. Paul for making me act on what I already knew was right.
*May the only ones to touch your junk, be the ones you want to touch your junk.*
Be wise.
Buy paul-ladium! Much better growth potential.
http://bullion.nwtmint.com/palladium_pamp_bar.php
Order Now: 800-344-6468
Order toll free Monday through Friday, 7:00am to 5:00pm Pacific Time.
grant
http://www.bloomberg.com/...
http://www.bloomberg.com/apps/news?pid=20601082&sid=adHg7t8B...
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
SIERRA: gold/silver historical ratio is 55?
Is the current ratio accurate? 950/13.5 = 70
In 2001, the gold silver ratio spiked up to 80. That means it took you 80 ounces of sliver to buy one ounce of gold. But since then, the ratio has declined. You might be surprised to know that despite gold's headline-grabbing move to US$894, silver has actually outperformed gold since late 2001. In November 2001, silver hovered at just US$4.05 / oz. In recent trading in New York, it touched US$16.19-for a gain of around 300% in the last seven years. In that same time frame, gold has increased too, but not as much. Gold traded at US$280 in late 2001 and now trades nearer to US$900, which gives it a gain of about 219%. The gold silver ratio chart below contains two other pieces of information worth noting. First, the ratio began increasing in mid-2007 as gold moved up in US dollar terms. This was in reaction to both geopolitical events and the housing market crash in the U.S., which has forced the U.S. Federal Reserve to cut interest rates, weakening the dollar and strengthening gold.
Silver has not followed gold's 2007 move up. But I believe it will in 2008, which brings me to the second piece of information on the chart worth noting. During the last great inflationary boom in precious metals, a speculative blow-off top drove the gold silver ratio back down below its historic level of 15. Will that happen again?
In 1980, when the Hunt brothers nearly cornered the silver market in New York, silver prices went as high as US$48/oz. But that doesn't tell the real story. Adjusted for inflation, the 1980 price was more like US$129 in today's rapidly depreciating U.S. dollars. The following chart shows the historical silver price, adjusted for inflation. You can see that while silver has begun to move up, it hasn't come close to imitating its performance during the last precious metals bull market. If it does, a new high in inflation- adjusted terms is not just likely, it's probable. The gold silver ratio is currently around 55. Let's say the ratio begins to narrow again and goes to 30. At a current gold price of US$894, you'd have silver at $US29.80/oz. (894/30=29.8). If the ratio narrows even further, the possibility for a much higher silver price also exists.
http://www.dailyreckoning.com.au/gold-silver-ratio/2008/02/12/
the gold silver ratio has
the gold silver ratio has been historically 16 to 1.. that is if you go all the way back 5000 years. Silver is the way to go.. you can get more ounces for the money and % wise silver should do better than gold.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
5000
Five thousand years is rather stale data, don't you think? The gold to silver ratio is currently in the middle of its range for the last 20 years.
The price of silver is getting pushed from several directions. It is an industrial metal, and industry is in a depression. On the other hand, silver is not horded forever like gold. Supplies can run short. Most silver is produced as a by-product of base metal mining. Base metal miners are scaling way back. That shortens the supply of silver. Finally, silver has monetary value, particularly for small investors.
I don't know whether silver will outperform gold or vice versa. If I did, I would go short one and long the other. But instead I own some of each.
stale nope! 2000 years
stale nope! 2000 years ago there was no such thing as paper silver or 2 US banks manipulating the market.. when this whole thing blows up Jive, the historical setting will reset its self! you will see 16 to 1 again.. also.. silver is MONEY.. it not just an industrial mettle.. silver through out history was used as a medium of exchange more than gold! you have to remember.. for the past 100 years everything has been scewed for the bankers and the power elite.. they are losing control.. what we see today will not be the way things are when as you say the government goes to monetize the debt because the chinese and others quit buying our debt.. it will be interesting thats for sure!
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Thanks.In addition, silver will not be confiscated, at least ..
not until after all of the gold has been rounded up. Gold is out of reach now unless the "correction" takes place. I'll be ready if gold does drop. In the meantime, silver is the way to go.
If gold goes down to $800...
then I will buy as much as I can afford. The usual questions... where's the best place to get it, what exactly should I get - coins, paper, etc, how much above market should I pay for commission, etc?
thanks for the advice.
--------
Fossils Rock!
'Cause there's a monster on the loose
BugMan
You should know where to find gold and silver. What kind of geologist are you anyway? ; )
heh heh..
Not worth my salt, obviously!
Not much gold out here in 6,000' feet of water where I'm working...
--------
Fossils Rock!
'Cause there's a monster on the loose
6,000 feet of water
sounds like the place to be for a soft rock guy. The athletic teams where I finished school were called the "Hardrockers" (nothing to do with music). Glad to see that you can access DP and maintain a sense of humor out there in 6,000 feet of water.
Those hard rockers can't be trusted...
all they care about is igneous and metamorphic stuff, I like the soft rock that has the bugs in it!
Where'd you go to school?
--------
Fossils Rock!
'Cause there's a monster on the loose
Bug! Don't overlook Silver.
Bug!
Don't overlook Silver. Silver will perform better % wise. Gold is hard to find now same with silver. a good place to look is silverseek.com
they sell gold and silver there. It just all depeds on what you want.. I still think the best way to go is have some silver eagles. 90% junk silver is great.
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐
Oh yea, meant to include that in my question...
so thanks for the reminder and the potential source for buying. Hope others can give some input on sources, and if they were happy or not with their purchase.
--------
Fossils Rock!
'Cause there's a monster on the loose
Buy Local First
You should try to buy local if at all possible, but if not here are two online options I use regularly.
ebay.com
apmex.com
sierra
how does it work when you cash in your gold at a profit? I guess you have to report the profit for taxes?
HA! Why pay taxes on a
HA!
Why pay taxes on a commodity that you purchased using cash and you will sell using cash?
yes.. I think the tax is 15%
yes.. I think the tax is 15% if the coins are held longer then a year.. If you hold them less then a year then it is what ever tax bracket you are in..(I THINK)
"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson
I am more concerned about the return of my money than the return on my money. --Mark Twain
“A prudent man foreseeth the evil, and hideth himself: but the simple pass on, and are punished.” (Prov. 22:3; 27:12 KJV)
Hey McCain-----┌П┐(◣_◢)┌П┐