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psyconaught
Chemical Connoisseur


Registered: 11/04/10
Posts: 6,100
Last seen: 7 years, 3 months
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Re: Precious metals: Where are we now? [Re: Me_Roy]
#19140597 - 11/15/13 11:30 AM (10 years, 3 months ago) |
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Quote:
Me_Roy said:
Quote:
psyconaught said: gold bug freaks?
I don't understand what you mean here.
zappa mentioned 'gold bug freaks' and i wanted to know what that meant.
-------------------- Think for yourself, question authority
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Lana
Head Banana


Registered: 10/27/99
Posts: 3,109
Loc: www.MycoSupply.com
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Re: Precious metals: Where are we now? [Re: qman]
#19140776 - 11/15/13 12:24 PM (10 years, 3 months ago) |
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Quote:
qman said:
Buffett bashes gold all the time, nothing new there.
China has been buying as much gold as they can the last 5-10 years, why? To diversify their reserves, it's not to speculate for higher prices, it's to hedge against the trillions of dollar and euros they hold.
Since China knows the dollar and euro are only going to get devalued in the years ahead, they are protecting their holdings by buying gold, owning shares of companies does not provide that hedge.
Well said and true.
Lana
-------------------- Myco Supply - Distributors of Mycological Products http://www.MycoSupply.com The Premiere Source for Mushroom Growing Supplies. Visit us online or call us toll free
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zappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
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Re: Precious metals: Where are we now? [Re: psyconaught]
#19141440 - 11/15/13 03:52 PM (10 years, 3 months ago) |
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Quote:
psyconaught said:
Quote:
Me_Roy said:
Quote:
psyconaught said: gold bug freaks?
I don't understand what you mean here.
zappa mentioned 'gold bug freaks' and i wanted to know what that meant.
Do you really need that explained to you? There were a lot of people here extolling the virtues of loading up on gold a couple or few years back. I told them to knock themselves out if that's what they wanted to do but warned them that it isn't any more sound than pork belly futures. They were quite enthusiastic about it hence my term gold bug freaks. Were you one of them?
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psyconaught
Chemical Connoisseur


Registered: 11/04/10
Posts: 6,100
Last seen: 7 years, 3 months
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Re: Precious metals: Where are we now? [Re: zappaisgod]
#19141452 - 11/15/13 03:57 PM (10 years, 3 months ago) |
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just never heard that term before. No i don't own any precious metals, I've had passing thoughts about buying some silver but nothing serious. Investing's never really interested me much. Precious metals are so often touted as 'get rick quick' methods of investing so I've tended to stay away.
-------------------- Think for yourself, question authority
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zappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 8 months
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Re: Precious metals: Where are we now? [Re: psyconaught]
#19141514 - 11/15/13 04:17 PM (10 years, 3 months ago) |
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Quote:
psyconaught said: just never heard that term before. No i don't own any precious metals, I've had passing thoughts about buying some silver but nothing serious. Investing's never really interested me much. Precious metals are so often touted as 'get rick quick' methods of investing so I've tended to stay away.
Good move.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Precious metals: Where are we now? [Re: zappaisgod]
#19168883 - 11/21/13 07:58 AM (10 years, 3 months ago) |
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Edit.
Edited by Adden (10/24/14 11:12 PM)
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bryguy27007
Cosmonaut



Registered: 01/26/08
Posts: 10,525
Loc:
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Re: Precious metals: Where are we now? [Re: Adden]
#19169023 - 11/21/13 08:47 AM (10 years, 3 months ago) |
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Down below 20 now. My guess is a couple more dollars down and stagnate for a while. I would personally be buying in the next couple of months now. DYOD.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: Precious metals: Where are we now? [Re: bryguy27007]
#19169218 - 11/21/13 10:03 AM (10 years, 3 months ago) |
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Edit.
Edited by Adden (10/24/14 11:13 PM)
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Precious metals: Where are we now? [Re: Adden]
#19173463 - 11/22/13 02:32 AM (10 years, 3 months ago) |
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Post pics of your stack!
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Lana
Head Banana


Registered: 10/27/99
Posts: 3,109
Loc: www.MycoSupply.com
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Re: Precious metals: Where are we now? [Re: thescientist] 2
#19173914 - 11/22/13 07:34 AM (10 years, 3 months ago) |
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You walk into a store and you see a shirt that you like. You look it over and finally glance at the price tag. Lets say the shirt is $23.95
You're on the fence. You don't know if you should buy or walk away. You like the shirt but for $23.95, it's questionable.
Then, a few weeks later. You go back to that store and see that very same shirt which is now on sale for $19.95. You say, "Wow, a 20% savings for the very same shirt. Sweet" You buy the shirt and all is right with the world.
Silver and gold are the same way. The last time silver was at $23.95 was on 9/4/13 and as of today its reached $19.95
So in roughly 2.5 months, the price of silver has dropped 20%. Even if the price drops further, depending on how you look at it, silver is on a sale.
Again, it's all in how you look at it.
Lets say you go back to the store where you bought that shirt and see that its now on a 50% sale. You may be upset but are you really going to return the shirt. This example is why you should never invest more than you're willing to loose. If you buy silver, gold, stocks... anything you consider an investment and you can't afford to loose 20%, 30% etc... then you're not calculating the amount of risk you're willing to take on your investment. And that's bad
People always say you should have goals in life, investing is no different. Ask yourself what you're will to loose, what you target is (what you'd like to make/profit) and what kind of time frame are you willing to work in before you exit your position.
Lana
-------------------- Myco Supply - Distributors of Mycological Products http://www.MycoSupply.com The Premiere Source for Mushroom Growing Supplies. Visit us online or call us toll free
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Precious metals: Where are we now? [Re: Lana]
#19234656 - 12/06/13 12:20 AM (10 years, 2 months ago) |
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We're sub $20.
Where is everyone?
Great opportunity to lower your average cost.
A 20 spot for an oz of Ag is fine with me. That's the equivalent of like 5 loaves of bread around here. Or 4 good loaves.
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bryguy27007
Cosmonaut



Registered: 01/26/08
Posts: 10,525
Loc:
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Re: Precious metals: Where are we now? [Re: thescientist]
#19235739 - 12/06/13 10:08 AM (10 years, 2 months ago) |
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If I had money I would be buying. I reduced my hours at work so haven't had any disposable income for a while. Hoping to grab a little with my tax return in the new year.
Silver's on sale.
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Destitute
floss daily

Registered: 11/28/12
Posts: 4,027
Loc: where
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Re: Precious metals: Where are we now? [Re: bryguy27007]
#19246855 - 12/08/13 07:46 PM (10 years, 2 months ago) |
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Just a quick question, i'm sure its been answered numerous times already... Where do you all buy your silver from? I was looking the online venue but they charge a hefty premium (5% or so) in addition to the cost of shipping/insurance. Possibly the local pawn shops? or coin shops?
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thescientist
Registered: 03/09/02
Posts: 807
Loc: Dade County
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Re: Precious metals: Where are we now? [Re: Destitute]
#19248304 - 12/09/13 12:58 AM (10 years, 2 months ago) |
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I have a local coin shop with low premiums on things like Canadian Maples.
There are a few big vendors on the internet such as Kitco and Apmex among others.
Do some research on what products you are interested in and you can compare among local an online dealers.
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