Just curious ... why do you think gold has been dropping? It's four straight days. I know, I know .. long term and all. Except I need to scrap. :-( I need the money. Right now, I have over an ounce, so yeah, it does make a difference if it is 1300 or 1200, which is where it seems to be headed. Double :-(
Thoughts on gold prices ...
- Thread starter mugsisme
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I always watch gold and silver... it will climb again... if it follows trend it will hit a low then rise back slowly.
Hold out on scraping if you can.... or scrap half of it for now... till rise.
Hold out on scraping if you can.... or scrap half of it for now... till rise.
it will correct.
the timid are getting scared & selling right now
the timid are getting scared & selling right now
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Beachkid23
Silver Member
If it gets any lower I might pick up a half ounce and maybe a couple 1/10 Gold eagles. Oh wait never mind Christmas is coming I can dream about buying them!
I've found, in my case only, that every $10 rise or drop in spot price of gold I make or lose .30 on each pennyweight I sell. This is only at my main buyer. I cannot speak for anywhere else... So $100 minus in spot price equates to $3.00 per pennyweight or $60 an ounce....
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OWK
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For those holding gold against a precipitous change in the value of the dollar.. why worry about how gold compares to the rubber-ruler called the dollar?
An ounce of gold, is worth an ounce of gold.
15 or 20 ounces worth will buy a nice car... just as it did 85 years ago.
150 ounces will buy a nice house, just as it did 100 years ago.
It's not the value of gold that's changing. It's the value of the dollar.
An ounce of gold, is worth an ounce of gold.
15 or 20 ounces worth will buy a nice car... just as it did 85 years ago.
150 ounces will buy a nice house, just as it did 100 years ago.
It's not the value of gold that's changing. It's the value of the dollar.
billjustbill
Bronze Member
Troubles in the Middle East have caused gasoline to jump in price, overnight. Yet in North Texas, gasoline can be had for $3.01 a gallon....
I've been watching silver and its downward indicators seem very puzzling....and worrisome.
On September 6th, on Ebay, Ampex listed TEN 1 oz. Silver Buffalo Rounds of .999 Fine, shipped "FREE", for $209.00.
1 oz Silver Buffalo Round .999 Fine (Lot of 10)
Item price
$209.99
Item number
SKU: 74758
But, by Ebay's data, over 2,100 10-coin lots were sold to hopeful PM buyers. If Ampex is selling in bulk, and selling bullion coins at these prices, it seems "They" may know what's coming.....even lower prices for all PM's?
For quick profits and short term goals, current PM prices may be the best you'll see until December....
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dejapooh
Bronze Member
"memoirs of extraordinary popular delusions and the madness of crowds."
Everything that goes down must go up...
Everything that goes down must go up...
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I didn't think to check what oil was going for. I just have a ton of broken jewelry to scrap to pay my credit card bill. (Big problem buying all those jars ... gotta pay when the CC bill comes. And I'm not selling gold on Ebay for the same reason, because the price keeps dropping.) *sigh* I have a lot of vintage stuff to unload.
Beachkid23
Silver Member
You know, you can usually get over spot on there right. I sold a bracelet last week for $40/ gram and a ring for $32/gram. Usually the smaller the piece the more over spot you can get for it. Not damaged though, my guy pays 88%. So they are out there. I usually pay 78-80% then go see him on my way home. (If it's a private deal) not on a yardsale table though.
I just sold all my scrap 3 weeks ago, probably dumb but got $3800! Listed all the good stuff and will just let it go until it sells. List all the costume stuff too.
trdhrdr007
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This won't be popular but I'll say it. Prior to 1979 gold was pegged at approximately $30/oz & silver sat around $5. In 1980 events caused prices to spike. Within a few years things settled down & between then & 2004 gold stayed around $300-350 while silver was between $5-7. That's all fact & brings up two points.
1) Anyone that believes gold has always had the same purchasing power must be able to prove that prices of cars/houses/gas/whatever didn't change between 1981 & 2004. By the same token they would have to prove prices went up 500% between 2004 & whatever date gold hit $1900. Good luck with that.
2) The rise in price between 2004 & whenever it hit $1900 was driven by too many factors to get into. At some point prices will stabilize around what will become the new normal. It's absolutely impossible to know where that new normal may be. It could be higher or lower.
1) Anyone that believes gold has always had the same purchasing power must be able to prove that prices of cars/houses/gas/whatever didn't change between 1981 & 2004. By the same token they would have to prove prices went up 500% between 2004 & whatever date gold hit $1900. Good luck with that.
2) The rise in price between 2004 & whenever it hit $1900 was driven by too many factors to get into. At some point prices will stabilize around what will become the new normal. It's absolutely impossible to know where that new normal may be. It could be higher or lower.
Beachkid23
Silver Member
I would be a buyer at $500 gold and $10 silver. May even save it till the next crash! Pre 33 coins that is ....
Beachkid23
Silver Member
Although I'm still getting $30 with free shipping for Morgan silver dollars on eBay. So it really hasn't changed. Three auctions I had end this week sales were $29 $32 and $30 for three coins.
worldtalker
Gold Member
dejapooh
Bronze Member
I am 50 and I have been hearing about Jesus coming again, next week, next month etc for my entire life. Still waiting
I've been hearing about natural disasters sinking California into the sea for my entire life... Still waiting
I've been hearing about these huge government conspiracies to take over all parts of my life... Still waiting
I've been hearing about the collapse of the FRN for my entire life... Still waiting.
The one thing that these gold bugs don't seem to remember is that Deflation is far more destructive than Inflation ever was. We've been skirting a deflationary cycle for the last 7 years. If we had been on a hard gold standard, we would have been in a depression that makes the great depression look like a picnic. Paper money is not without its dangers, but gold is not a panacea to our economic ills.
Stop and analyze why gold has had a great 10 year run. Is there a shortage? no. Fall in production? no. Increase of use in industry? no. The only reason gold has run up over the last 10 years is the expectation of inflation fanned by conservative ninnies, barking on Faux News about how gold and silver maintain their value... Speculation has driven the price, and no real change in the fundamentals of the market. You would think that after 10 years of the boy crying wolf, the market would get over it...
Then again, prices are drifting down... perhaps the boy is losing his voice.
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tamrock
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I've been in the mining racket since 1977. Word on the street is gold has cooled and should stay that way for some time, but uranium may be heating up. Still! who really knows 
I just keep looking for a place that says they want to buy mining supplies no mater what they think they'll get out of it. In all those years I've always managed to find some folks driving a drift someplace hoping to get gold for lest then spot. That be way cool if Jesus did come tomorrow, but I've read he himself doesn't know when that day is. Why would any one else think they'd know 
Uranium Prices Will Head Higher Due to This Supply Crunch
I just keep looking for a place that says they want to buy mining supplies no mater what they think they'll get out of it. In all those years I've always managed to find some folks driving a drift someplace hoping to get gold for lest then spot. That be way cool if Jesus did come tomorrow, but I've read he himself doesn't know when that day is. Why would any one else think they'd know Uranium Prices Will Head Higher Due to This Supply Crunch
I've been hearing the easter Bunny is coming too.
but santa is the one to worry about,
he is so spiteful, he's making a list & checking it twice.
Gold & Silver will be dropping for a little while But I don't see them ever getting to the $265.00
and $4.00 an oz prices ever again
It's all manipulation by those planning on making a quick score
but santa is the one to worry about,
he is so spiteful, he's making a list & checking it twice.
Gold & Silver will be dropping for a little while But I don't see them ever getting to the $265.00
and $4.00 an oz prices ever again
It's all manipulation by those planning on making a quick score
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I have been waiting since 1984 or 1985 for the economy to collapse because we are printing money. I was just out of college and so very convinced that things were going to hell. I bought gold and prepared for the worst. Still waiting.
dejapooh
Bronze Member
Only 30 years... Another 30 and you won't have to worry about it.
SweetDesigns
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Is there a free app for my iphone for current gold/silver prices? Thanx in advance for your input.
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