This is why you don't take investment advice from political hacks

[VictorySong]

Fears About Fed Exit Trounce Gold; Futures Down 6%

Gold dropping like a drunk girl's panties on prom night. Silver under $20.Where are all the precious metal bugs that told me gold and silver would do nothing but go up when it was $40/oz & $1650/oz?

So much for ignoring the market's history and believing that PMs somehow were immune to the cycle. I'll be the guy buying your stash for $10/oz & $500/oz so I can unload again when you fools are panicking. Just like I did during the last spike.:banana:

ETA: But, but.... Glenn Beck told me that it would never go down... LMAO!

 

[phillycobra99]

It's a pull back, which was due to happen because of how much the market has been on the up.

The market will level itself every now and than after a steady climb.

Also I don't own any precious medal stocks.

 

[oldmodman]

I will re-purchase Gold at $900.00 or lower, and silver below $15.00

But I have been out of metals for about a year now.

 

[VictorySong]

It's a pull back, which was due to happen because of how much the market has been on the up.

The market will level itself every now and than after a steady climb.

Also I don't own any precious medal stocks.

I agree.

I will re-purchase Gold at $900.00 or lower, and silver below $15.00

But I have been out of metals for about a year now.

I think first time investors will start panicking and dumping their stash if gold drops below $1000/oz. Gold cheaper than 1k hasn't been seen in a couple years (since late 09ish) and it would definitely crash the aura of invincibility that gold bugs have created while the market wasn't doing as well.

$750/oz is my buy in. I figure I'll be able to buy sub $500/oz but, I don't want to risk missing a spike. My ROI will be less than if I wait and keep my average investment cost lower. It's worth it for a little extra security though. At $900/oz holding until $1250/oz is something like 37%. That's if it dives and comes back up to panic levels. Which I don't think it will short term.

If you look at the twenty year charts you see a massive spike starting in 2006. If I invested after that I'd have to hold and reinvest after the decrease to keep the AIC down and salvage a profit over the next 15 years assuming we see another spike.

 

[RedRocketMike]

The paper market is easy to manipulate. Physical is a bit different story but I LOL when someone thinks in a end of world scenario that they'll be able to pay for things with gold shavings. People will want bullets. I moved 3% of my portfolio into IAG today, more so for the dividend, but it has never been this cheap relative to the price of gold and they're profitable down to $1000 per oz. China and India provide a floor around this level. I'd almost rather see gold him $950 an oz and shake out all these two bit gold mining operations.

 

[99cobrablack]

Really doesn't matter what the price of it is, you won't be able to physically buy it for that price.

 

[Regulars520]

Precious metals will be back up. Its a common trend, up down up down. Depending on your financial situation, buy now---hold---sell or reinvest later. I dont do much in the market of gold, but I do platinum and silver. I buy (scrap) platinum every month at a phenominal price and just sit on it. My perspective is this, when the news talks about the flu virus and new outbreaks, buy pharm stocks, news talks about great economy and great stock prices, buy metals. When the bubble bursts which it always does, the cycle reverses and then dump what you have and prepare to buy back in. Doesnt happen overnight but its not to hard to figure out. I have no place in the financial market whatsoever nor do I sit on a ton of money. Im a steelworker who is trying to put together monies for his kids futures and I think being careful and doing your due diligence has worked just fine for me. But as alaways you cant listen to everybodies advice and nobody on this planet can say whos right or wrong in prediction otherwise we would all be rich or just poor. My 2 cents.

 

[LogiWorld123]

Really doesn't matter what the price of it is, you won't be able to physically buy it for that price.

you can do better and pretend youre a gold buyer and buy people's crappy jewelery.