Where are all those people wondering if gold would ever see the $1,600 mark again? It's here... Anyone buying? Is silver the focus of this dip?
I figured as much... I have been debating hard about whether or not I should throw some serious cash at silver right now. Its a bumpy ride!
I agree, the drop in silver is a PFOOAR BARGAIN!!! I'm still trying to get more Panda Gold at this time too... BUT the drop in our AUD against the RMB has limited my ability to capitalize in a big way on the drop. If I had been able to keep more RMB at this months earlier rate (1AUD = 6.65RMB, instead of 1AUD = 6.15RMB) I would be able to stack a whole lot more gold (and silver). ... yippee... AUD just got boosted to 6.29
Might be because gold is still up for the last 2-3 months and silver is down for the year (barely). My last gold buy was 1998 tigers and 2002 horses with gold at approximately 1662. I am a little down on the trade, but those coins don't become available every day and I pounced at the opportunity.
And I pounced at the opportunity of buying old fractional pandas Couldn't resist really, spot was irrelevant in the decision of making the purchase Gold is Gold.
If you have been in gold since it was under a thousand(only a few years),this does not seem like much of a drop
That is a good point. I guess I am new to the gold market and this appears to me as a great opportunity, but to those in the game for a while it represents a slight dip.
Gold has dropped, but I like the drop in silver better Right now silver is a great buy, but gold not so much yet. Maybe if it hits $1400 I'll stock up on more, but right now silver is it.
I agree with dccpa - gold is still high - I was buying frational coins at a cheaper price in july / august than it is today (re: fishballs crazy glad wrapped coins), the volatility of silver is the one to be talking about, down to $28/oz and then back up to $30/oz in one day is a pretty crazy swing
If you look at the 10 year trend we are basically perfectly aligned with that trend now, but gold is not really what worries me. I would be much more worried about silver than gold, its industrial uses out-strip it's investment uses and it's very hard to make out a trend line it's like it exploded then collapsed early this year then did nothing for months and collapsed again(i would use the word collapse for silver). But like jnkmbx said, this is not to say silver is a not a good buy right now.
Myself, I bought a lot of gold, well not a lot, but spent most my PM investment capital on gold when I first started. Now, I'm buying 98% silver purely because it's within my budget. I was tempted to buy more gold, but then I wouldn't have been able to buy hardly any silver and I'm trying to get my stack closer to 50/40/10...Au/Ag/Pt That's dollar amount not weight. If I had more moola, I'd of bought the sh!t outta all three yesterday/this morning
Bought a little gold but physical silver in the low 30's is a good go. Silver has done well this year if you've been smart/lucky enough to buy - sell at the right times. Unfortunately when the prices goes up most of us (myself included) clutch our stack tighter. Its hard to not let emotion cloud judgement I have to work on that.
Examining the one year chart, it is a braver person than I that will buy gold at the present time. Indeed I am drip selling rather than buying. The dramatic increase from the end of June this year, only 3 months ago, could be like a taught rubber band ready to snap. I am waiting for all the sovereign debt stuff to get out the way because the PMs are determined by hedge funds and other speculative investors. Once the dust settles ( if ever ) we may return to a more stable position where there will be less big gains but also less sudden drops. PMs are addictive and fine when prices are rising above inflation but the drop in silver over the past few days was a wake up call. Hopefully prices will return but looking at historic charts sometimes recovery can take many years.
