the gold market

[eric_cartman]

anyone else getting killed in the gold market?

we all need to remember the fundamentals and not get scared out by all the panicked selling that everyone else is doing.

[Conza88]

Short term it appears that way.

Just wait to hyper inflation starts to seep into the populaces reality.

Now's the time to buy...

[AJ Antimony]

Ever heard of the Bear Sterns? Ever heard of the military? Ever heard of the Housing Bill?

Oh, gold and gas will be up again!

[eric_cartman]

i'm actually happy that gold is down from my perspective, because now i can buy more for cheaper.

i just feel really bad though, because i convinced my dad to buy into the gold market, and he took a big position with a big gold mining company, and now he's down quite a bit of money. so i feel bad that my recommendation is currently down. i'm confident it will be higher eventually... but this is a pretty nasty correction, and it has got to be really scaring all the gold investors.

[aspiringconstitutionalist]

The Fed just decided to pump $25 billion of new money into the economy via auctions. The dollar will go back down again, and gold will go back up eventually.

[CitizenPlain]

...

[Arklatex]

I'll be looking at the gold and silver stocks tomorrow - like MVG IAG AUY ABX

http://www.kitco.com/charts/livesilver.html

http://www.kitco.com/charts/livegold.html

check out the drop in silver: http://www.kitco.com/charts/livesilver.html

[Anti Federalist]

Holding physical possession of gold or silver is not an "investment".

It is a hedge against the time when everything goes kerflooey, and the FRNs in your bank account won't be worth, literally, the paper they are printed on.

[nbruno322]

check out GLD and SLV good investments, but the best is physical, check out this email from Peter Schiff, Ron Paul's economic adviser (not that he needed one). Long-term gold can only go up, great time to buy.....

Introducing...the Very Best Way to Buy Gold

Dear Investor,

For years, you've heard the advice...

Trusted financial advisors, newsletter writers and friends have
recommended that you maintain anywhere from 10% to 20% of your portfolio
in physical gold. The logic of those recommendations makes perfect sense
to you.

And now - after gold has pulled back from its recent high of over $1000
an ounce in March to under $800 - the time is right to take advantage of
an enormous buying opportunity created by what I believe to be a
short-term drop in gold prices.

After all - with a weakening economy, increasing inflation, exploding
federal budget deficits, geopolitical turmoil, and the recent government
bailouts of Wall Street investment banks, subprime mortgages and Freddie
Mack and Fannie Mae- holding gold in your portfolio has never made more
sense.

But until now, no one has ever shown you a secure, cost-effective way of
investing in gold and silver.

Well here it is.

I'm proud to introduce the Perth Mint Certificate Program, offered
through Euro Pacific Capital.

When looking to invest in gold and silver, getting a fair price should
be the least of your concerns.

After all, the market for metals is open nearly round the clock - and
there's really no reason ever to pay any more than the spot market
price.

With the Perth Mint Certificate Program, your costs are 100%
transparent. You'll buy your gold at the Perth Mint spot market ask
price. The only additional costs you'll incur are a simple 2.25 %
commission and a $50 certificate fee...and nothing more.

So if you decide to take advantage, for example, of the program's low
minimum investment of $10,000 your total cost would be $10,275 - that's
it!

Now, I know what you might be wondering: While the low cost of this
program sounds attractive, where will I store the gold once I buy it?

With the Perth Mint Certificate program, you can store your metal at the
Perth Mint FREE of charge - indefinitely - when you choose the program's
unallocated bullion option.

I have to tell you, FREE storage is absolutely unheard of in this
business. But it's what makes this program so unique - and so easy to
use.

With FREE storage and 100% transparent pricing...there's only one issue
left to address: safety. So let me tell you more about...

When you buy gold through the Perth Mint Certificate Program, you can
invest with confidence. Here are just a few reasons why:

* Every ounce you purchase - regardless of storage method -
remains under the control of the Perth Mint, which doesn't loan out your
metal to third parties.
* Your gold is held by an S&P AAA-rated government facility which
is also insured by Lloyd's of London. That's safer than any bank you'll
find in the United States!
* The Perth Mint is wholly owned and operated by the Government of
Western Australia and as such it is virtually impossible for it to
become insolvent. The Mint has been around for 106 years...you're not
investing in any Internet-based Johnny-come-lately when you invest with
the Perth Mint.

But what might happen if demand for gold outpaces Perth Mint's supply?

It can't happen - the Mint literally cannot run out of metals. It cannot
issue certificates for metals that have not been bought. It's not just a
paper promise; your gold is actually held by the Perth Mint.

And what's more, your transactions are also 100% private. The Perth
Mint's confidentiality is assured as a result of the Australian Privacy
Act of 1988 and the Mint's own Act of Parliament. So if your concern
about the direction of the U.S. dollar is causing you to look offshore,
purchasing gold via the Perth Mint will help you achieve your
objectives.


If you would like to get started with the Perth Mint Certificate
Program, or just get more information,


http://goldyoucanfold.com/


Otherwise, you can call Danielle or Matt Psarras, at 1-800-993-8350.

Danielle will walk you through the program's simple, two-page
application. Once you complete that form, simply wire the funds and from
there, placing your trade is as simple as buying a stock. Just pick up
the phone and tell us when to pull the trigger.

Euro Pacific Capital is able to offer the Perth Mint Certificate Program
in all 49 states (the program is not available in Arizona) and we offer
an entire range of precious metals alternatives for investors.

But please - the opportunity created by the recent drop in gold prices
doesn't figure to last long. I urge you to take advantage of this time
to call now!

Sincerely,

Peter Schiff
President and Chief Global Strategist
Euro Pacific Capital

[Rhys]

I've been learning about something called Elliot Wave Theory. I'm learning to use it in the Forex market and it predicted the gold drop to the tee and the gains in the dollar today.

It's basically a fractal theory of the market.

Gold drops (http://www.elliottwave.com/subscribers/analyst-videos/md/educational-video-series/default.aspx?code=omktvid&cn=mdvid&page=mikedGS7-31-08FREE&title=Gold,%20Silver:%20"Expect%20a%20Really%20Sharp%20Drop"%20(Released%20July%2031,%202008))


Dollar gains:
http://www.elliottwave.com/freeupdates/archives/2008/08/14/EURUSD-How-To-Know-The-Trend-BEFORE-The-News.aspx

[Conza88]

But what might happen if demand for gold outpaces Perth Mint's supply?

It can't happen - the Mint literally cannot run out of metals. It cannot
issue certificates for metals that have not been bought. It's not just a
paper promise; your gold is actually held by the Perth Mint.

And what's more, your transactions are also 100% private. The Perth
Mint's confidentiality is assured as a result of the Australian Privacy
Act of 1988 and the Mint's own Act of Parliament. So if your concern
about the direction of the U.S. dollar is causing you to look offshore,
purchasing gold via the Perth Mint will help you achieve your
objectives.

If you would like to get started with the Perth Mint Certificate
Program, or just get more information,


Perth Mint fken fails. It was recently accussed / prooved to have been selling certificates, for Gold - more than they own.. i.e pesudo ceritifcates, aka back by nothing bullshit. I can go find the articles if you really want them / I could be bothered.

But there have been many customers airing concerns about exceedingly long delays on their shipments for Gold.

If you don't actually buy physical gold.. and you purchase certificates / THEY HOLD your Gold.... you're a fool and when the time comes, don't expect to get it out of the vault.

History says otherwise. ;)

[madRazor]

Perth Mint fken fails. It was recently accussed / prooved to have been selling certificates, for Gold - more than they own.. i.e pesudo ceritifcates, aka back by nothing bullshit. I can go find the articles if you really want them / I could be bothered.

But there have been many customers airing concerns about exceedingly long delays on their shipments for Gold.

If you don't actually buy physical gold.. and you purchase certificates / THEY HOLD your Gold.... you're a fool and when the time comes, don't expect to get it out of the vault.

History says otherwise. ;)

Agreed. I used this cert program for some of mine until gold's recent run to 960. Still waiting to put the money back to work, but it will be added to my PHYSICAL gold/silver. If you don't hold it in your hand, you don't really own it.

Think about it. Why hold gold/silver? In case SHTF. But in this case, whoever is holding the gold that your certificate 'redeems' will declane force majeur, allowing them to delay or even cancel delivery.

Holding yourself requires a safe and a gun or a yard and a shovel, but it provides true security for your purchasing power. All without a paper trail, without taxes, without worry.... Mine's kept in my floor safe in the study; combination 45-45-67-91 if you don't believe me. Check it out!

[Conza88]

Holding yourself requires a safe and a gun or a yard and a shovel, but it provides true security for your purchasing power. All without a paper trail, without taxes, without worry.... Mine's kept in my floor safe in the study; combination 45-45-67-91 if you don't believe me. Check it out!

Haha :D I think I'm going to put a safe out in the front yard, where everyone can see... then get a human skeleton; where I have obviously shot someone trying to open it. Maybe a moat with a few crocodiles will do. Then a Tasmanian devil on the island / protective Magpie in a nest. A few the most venomous snakes in the world, chuck in the top 10 deadliest spiders.. Come get it now biatches :cool:

[LibertyCola]

I use bullionvault.com, physical gold seems like a hassle to buy, and a huge pain in the ass to sell.

[Brian Defferding]

Got any advice/tips for a person like me that lives a lower-middle class lifestyle and knows little about gold and silver?

How does one buy and sell it? Are there other precious metals worth considering? Loaded questions, I know, but I figure you guys would be the best people to ask.

[RonPaulCentral]

Got any advice/tips for a person like me that lives a lower-middle class lifestyle and knows little about gold and silver?

How does one buy and sell it? Are there other precious metals worth considering? Loaded questions, I know, but I figure you guys would be the best people to ask.

eBay. You can buy small amounts as you wish. Washington Pre-1965 Quarters in rolls. You can get these usually at spot (no commission like from a metal dealer). A lot of times the sellers kick in the shipping.

Each roll has about 7.4 oz of Silver.

[RonPaulCentral]

anyone else getting killed in the gold market?

we all need to remember the fundamentals and not get scared out by all the panicked selling that everyone else is doing.

Ah, you might be able to trade your Gold for less FRN's at the moment, but you still have your Gold right?

Personally RIGHT NOW is when you have the opportunity to make a killing in silver.

Gold at $775 now goes to $1000 by the end of the year you had a 25% gain.
Silver at $13 now goes to $20 by the end of the year you have a 70% gain.

Silver is the way to go my friends and right now.

[Arklatex]

Well there's a few different ways to invest in Gold, a ton actually!

The best bet is be diversified... I know I know, if you don't have much money to invest that's hard to do, hence I'll recommend a Gold ETF. You can buy it just like a regular stock, but instead of one gold company it's an index of many different Gold miners - it gives you the advantage of diversification. There's also an ETF for silver. These are investments, don't expect them to double. Hope for 10% increases a year. They are for the long haul and are a Ron Paul wise investment. :D

[Bruno]

I've been learning about something called Elliot Wave Theory. I'm learning to use it in the Forex market and it predicted the gold drop to the tee and the gains in the dollar today.

It's basically a fractal theory of the market.

Gold drops (http://www.elliottwave.com/subscribers/analyst-videos/md/educational-video-series/default.aspx?code=omktvid&cn=mdvid&page=mikedGS7-31-08FREE&title=Gold,%20Silver:%20"Expect%20a%20Really%20Sharp%20Drop"%20(Released%20July%2031,%202008))


Dollar gains:
http://www.elliottwave.com/freeupdates/archives/2008/08/14/EURUSD-How-To-Know-The-Trend-BEFORE-The-News.aspx


Does it predict a floor and when it might rise?

[Brian Defferding]

Wow, thanks for the tip. I just went to Ebay and there are a few quarter rolls selling for $11.50 w/ $5.50 shipping. If your scale is correct in the amount of silver they got, that roll is really worth over $100. Does that seller even know? ;)

[ARealConservative]

Wow, thanks for the tip. I just went to Ebay and there are a few quarter rolls selling for $11.50 w/ $5.50 shipping. If your scale is correct in the amount of silver they got, that roll is really worth over $100. Does that seller even know? ;)

I'm afraid you are missing something. You will not be able to find a legit auction tracking at this ridiculously low silver price - let alone at the bargain you quoted.

[Brian Defferding]

Well there's a few different ways to invest in Gold, a ton actually!

The best bet is be diversified... I know I know, if you don't have much money to invest that's hard to do, hence I'll recommend a Gold ETF. You can buy it just like a regular stock, but instead of one gold company it's an index of many different Gold miners - it gives you the advantage of diversification. There's also an ETF for silver. These are investments, don't expect them to double. Hope for 10% increases a year. They are for the long haul and are a Ron Paul wise investment. :D

Awesome, thanks! Where can I find gold and silver ETF's at?

[RonPaulCentral]

Wow, thanks for the tip. I just went to Ebay and there are a few quarter rolls selling for $11.50 w/ $5.50 shipping. If your scale is correct in the amount of silver they got, that roll is really worth over $100. Does that seller even know? ;)

No no no no!!! You have to make sure they are PRE-1965 -- The entire roll must consist of quarters that are no older then 1964.

At $12 it sounds to me to be a plain old roll of metal slugs now produced by our mint.

Rule:

1964 and older Washington Quarters = Good
1965 and newer Washington Quarters = Pepsi Machine Slug or for playing beer games

Be careful!

[Brian Defferding]

I'm afraid you are missing something. You will not be able to find a legit auction tracking at this ridiculously low silver price - let alone at the bargain you quoted.

How do you mean? Keep in mind I'm completely new to this.

[ARealConservative]

How do you mean? Keep in mind I'm completely new to this.

post a link to the ebay auction you were looking at.

[Brian Defferding]

No no no no!!! You have to make sure they are PRE-1965 -- The entire roll must consist of quarters that are no older then 1964.

At $12 it sounds to me to be a plain old roll of metal slugs now produced by our mint.

Rule:

1964 and older Washington Quarters = Good
1965 and newer Washington Quarters = Pepsi Machine Slug or for playing beer games

Be careful!

According to the listing, they are 1950-59 quarters. Link to it here. (http://cgi.ebay.com/Roll-of-silver-Washington-Quarters-40-coins-1950-1959_W0QQitemZ300250176478QQcmdZViewItem?hash=item 300250176478&_trkparms=72%3A1071%7C39%3A1%7C66%3A2%7C65%3A12%7C 240%3A1318&_trksid=p3286.c0.m14&timeout=1218812460425)

[ARealConservative]

According to the listing, they are 1950-59 quarters. Link to it here. (http://cgi.ebay.com/Roll-of-silver-Washington-Quarters-40-coins-1950-1959_W0QQitemZ300250176478QQcmdZViewItem?hash=item 300250176478&_trkparms=72%3A1071%7C39%3A1%7C66%3A2%7C65%3A12%7C 240%3A1318&_trksid=p3286.c0.m14&timeout=1218812460425)

ok - that is gook junk silver - but the auction is brand new.

It will go way, way up in the next 24 hours.

[RonPaulCentral]

How do you mean? Keep in mind I'm completely new to this.

Here is a listing along the lines o what you want:

http://cgi.ebay.com/Full-ROLL-of-40-90-SILVER-1964-WASHINGTON-QUARTERS_W0QQitemZ250280532625QQihZ015QQcategoryZ3 9462QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

This is what you would NOT want: :p

http://cgi.ebay.com/Washington-Quarter-Lot-1965-1998-ENTIRE-ROLL_W0QQitemZ350087307423QQihZ022QQcategoryZ39463 QQssPageNameZWDVWQQrdZ1QQcmdZViewItem

Just make sure they are all 1964 and older.

[RonPaulCentral]

According to the listing, they are 1950-59 quarters. Link to it here. (http://cgi.ebay.com/Roll-of-silver-Washington-Quarters-40-coins-1950-1959_W0QQitemZ300250176478QQcmdZViewItem?hash=item 300250176478&_trkparms=72%3A1071%7C39%3A1%7C66%3A2%7C65%3A12%7C 240%3A1318&_trksid=p3286.c0.m14&timeout=1218812460425)

Wow -- go bid! LOL

These listings all drive up in the last few hours anyhow.

[Brian Defferding]

Ah, I see. Thanks for the tip, I'll keep that in mind then. Still though, it sounds like these quarter rolls might be a good platform for me to start.

[Arklatex]

Awesome, thanks! Where can I find gold and silver ETF's at?

Open an account at Scottrade or any other online broker, put in a limit buy in on GLD or SLV for silver. That's it, you'll be charged a $7 commission for each buy/sell at scottrade.

Another ETF I recommend is EEM.

If you want more investment ideas let me know but I'll have to charge!!

[ARealConservative]

Ah, I see. Thanks for the tip, I'll keep that in mind then. Still though, it sounds like these quarter rolls might be a good platform for me to start.

Yes, these would be fine.

The thing to be careful about is setting too high of a max bid based on current silver price. This auction does not close for 24 hours and based on what silver has been doing, you are better off only bidding on auctions that close in the next 20 minutes or so.

Good luck - from what I am seeing, you will not actually be able to buy silver at these ridiculously low prices so don't get discouraged right off the bat.

[Bruno]

Haha :D I think I'm going to put a safe out in the front yard, where everyone can see... then get a human skeleton; where I have obviously shot someone trying to open it. Maybe a moat with a few crocodiles will do. Then a Tasmanian devil on the island / protective Magpie in a nest. A few the most venomous snakes in the world, chuck in the top 10 deadliest spiders.. Come get it now biatches :cool:

Slight overkill, but I like it! :)

[eric_cartman]

Got any advice/tips for a person like me that lives a lower-middle class lifestyle and knows little about gold and silver?

How does one buy and sell it? Are there other precious metals worth considering? Loaded questions, I know, but I figure you guys would be the best people to ask.

http://www.allamericangold.com/

you can call 1800-951-0592

you can order it from them... they've got good price.

these guys do a radio show every day and sell gold and silver (though they have no silver to sell at this point in time)

listen to their show here.
http://patriotarchives.blogspot.com/

but the easiest thing to do, is call that number during business hours (they leave early on friday) and they will hook you up. they send it to you in the mail. You can buy all sorts of different coins from them. But Gold Eages are the standard gold coin minted by the US mint every year... so start with that. they also sell older coins, before 1933 that are made of 90%+ gold... so those are good too. but these are good guys, Joe, Eric and Wendy will take care of you.

[Brian Defferding]

Yes, these would be fine.

The thing to be careful about is setting too high of a max bid based on current silver price. This auction does not close for 24 hours and based on what silver has been doing, you are better off only bidding on auctions that close in the next 20 minutes or so.

Good luck - from what I am seeing, you will not actually be able to buy silver at these ridiculously low prices so don't get discouraged right off the bat.

No problem, and again thank you ever so much for your generous advice - I just put in a bunch of bids and are currently a leader in them, but I'm sure I'll be outbid on a few of 'em. Still, it's a start! :)

And I'll look into those ETF's too.

Cartman - Kickass, I'll look them up too!

I knew this place would be the perfect place to ask about this. Already I have tons of options within an hour from posting the question here. :)

[Bruno]

No problem, and again thank you ever so much for your generous advice - I just put in a bunch of bids and are currently a leader in them, but I'm sure I'll be outbid on a few of 'em. Still, it's a start! :)

And I'll look into those ETF's too.

Cartman - Kickass, I'll look them up too!

I knew this place would be the perfect place to ask about this. Already I have tons of options within an hour from posting the question here. :)


This site was recommended to me by someone here and has a "wealth" of info.

http://goldismoney.info/forums/

[constitutional]

This site was recommended to me by someone here and has a "wealth" of info.

http://goldismoney.info/forums/

Not a great source at all for 'wealth' of info. Look somewhere else that's less bias and bit straight forward.

[LibertyEagle]

I just saw this and thought some might be interested.

http://silverstockreport.com/2008/shortagesmean.html


Originally Posted by nbruno322
But what might happen if demand for gold outpaces Perth Mint's supply?

It can't happen - the Mint literally cannot run out of metals. It cannot
issue certificates for metals that have not been bought. It's not just a
paper promise; your gold is actually held by the Perth Mint.

It CAN happen and apparently it DID.

[Bruno]

Not a great source at all for 'wealth' of info. Look somewhere else that's less bias and bit straight forward.


Do you have a less biasesd source to recommend?

I guess what I meant was a lot of people talking about and sharing their wealth of opinions about gold/silver etc, since that is basically what the Brian Defferding was asking for.

[constitutional]

Do you have a less biasesd source to recommend?

I guess what I meant was a lot of people talking about and sharing their wealth of opinions about gold/silver etc, since that is basically what the Brian Defferding was asking for.

I understand. I check that forum occasionally too. And your post was great, nothing wrong with it. :)

I'm just saying that forum has a lot of different opinions but also a lot of folks who have been sitting on stack of gold and silver since 2003 looking for a doom and gloom scenario.

Again, your post was great for what Brian Defferding was asking for.

He might also be interested in Kitco Forums. This youtube channel is of interest: http://www.youtube.com/user/donharrold :)

[Bruno]

I understand. I check that forum occasionally too. And your post was great, nothing wrong with it. :)

I'm just saying that forum has a lot of different opinions but also a lot of folks who have been sitting on stack of gold and silver since 2003 looking for a doom and gloom scenario.

Again, your post was great for what Brian Defferding was asking for.

He might also be interested in Kitco Forums. This youtube channel is of interest: http://www.youtube.com/user/donharrold :)


Thanks, Amistad. Funny video Don Harrold has on there today, as well.

[Rhys]

Does it predict a floor and when it might rise?

It looks to me that the floor will be around 750-80 and I just pulled up a chart to confirm and right now it's at that level so....

and 5 wave elliott will be followed by a 3 wave correction to about the 1.618 fibinocci number. My guess is, after that we'll be in a sideways range for a couple months until the housing bail out starts to sink in. I don't think it will stay over 1k for at least a month, probably 2-3.

but don't trade based on what I say...

[Bruno]

It looks to me that the floor will be around 750-80 and I just pulled up a chart to confirm and right now it's at that level so....

and 5 wave elliott will be followed by a 3 wave correction to about the 1.618 fibinocci number. My guess is, after that we'll be in a sideways range for a couple months until the housing bail out starts to sink in. I don't think it will stay over 1k for at least a month, probably 2-3.

but don't trade based on what I say...

No worries. :)

That is interesting about the fibinocci number correlation.

[Todd]

Where can I find a link that lists the price of an ounce of gold and silver daily?

[Bruno]

Where can I find a link that lists the price of an ounce of gold and silver daily?

http://www.kitco.com/market/

[ultimaonliner]

Where can I find a link that lists the price of an ounce of gold and silver daily?

http://www.bloomberg.com/markets/commodities/cfutures.html


All commodities are correcting, now. Bull markets for commodities generally last for more than just a few years.

I haven't sold any of my long positions in GLD and will probably add once I think this rally in the US dollar is over.

[jonahtrainer]

anyone else getting killed in the gold market?

we all need to remember the fundamentals and not get scared out by all the panicked selling that everyone else is doing.

Got to remember there is a difference between physical and paper (http://www.runtogold.com/Run_To_Gold/Run_To_Gold_Blog/Entries/2008/8/15_No_Sausage.html) gold. Just because the 'price' is stated does not mean there is any actually available at that price.

http://www.runtogold.com/Run_To_Gold/Run_To_Gold_Blog/Entries/2008/8/15_No_Sausage_files/apmexaug15p2.png


http://www.runtogold.com/Run_To_Gold/Run_To_Gold_Blog/Entries/2008/8/15_No_Sausage_files/US%20Mint.png

[tpreitzel]

anyone else getting killed in the gold market?

we all need to remember the fundamentals and not get scared out by all the panicked selling that everyone else is doing.

No! ;)

It's got a looooooong way to drop yet before the more savvy investors are even touched. See this correction as a buying opportunity and stop speculating. Buy gold as an investment for the preservation of wealth so you don't lose everything to the declining value of a fiat currency.

[MarcMadness]

I am currently in the process of opening an account with GoldMoney. Does anyone have thoughts on how low gold and silver will get, and when the best time to buy would be? Or should I just jump in right while it's this low?

[Rhys]

No worries. :)

That is interesting about the fibinocci number correlation.

yeah, absolutely. that's what made me take to elliott wave. i'm an armature physicist and fractals seem to be the answer to everything. if you look at everything in nature, it is a fractal. elliott wave seems to be the fractal patterns of the universe. the fib number approaches the golden ratio which is absolutely crazy. there's something basic about the universe. someone said if you can't understand it, it's not the right answer. maybe me, i'm drunk so who knows.

[ultimaonliner]

I am currently in the process of opening an account with GoldMoney. Does anyone have thoughts on how low gold and silver will get, and when the best time to buy would be? Or should I just jump in right while it's this low?

Of course we all have opinions, but the market doesn't care and will do whatever it will do.

FWIW, I think a Goldman Sachs analyst said gold would drop to something like $740 an ounce.

Right now, the US dollar is IMHO in a bear market rally and until that fades, all commodities will keep taking hits.

[Rhys]

I am currently in the process of opening an account with GoldMoney. Does anyone have thoughts on how low gold and silver will get, and when the best time to buy would be? Or should I just jump in right while it's this low?

peter schiff says don't time it cause it could happen tomorrow. i think the same... even if you buy now at $150 off it's high, you're still getting a bargain. I could be wrong, but Ron Paul and Peter Schiff have the same idea and they're smart.

[Brian Defferding]

It's often noted that the strength of precious metals are correlated to the strength of the dollar. The dollar has been dipping in strength due to deficit spending and borrowing from other countries, plus the dollar being fiat currency. Do you guys think that this will change at all in the next 2 Presidential terms? Will the dollar come close to the strength it was decades ago?

And by the way, I found a nice place to buy silver without the hassle of bidding or shopping tons of metal/coin stores, it's www.bulliondirect.com. Anyone shop there before?

[mediahasyou]

Im buying gold.

[roshie]

Interesting I hear about elliot wave theory here, I've been listening to this guy's videos regarding Wave 3 coming as soon as.. tomorrow:

http://www.youtube.com/watch?v=OcYFnMG5u6c

Check out all his videos, they were updated daily until recently when he decided it's no longer necessary to discuss because wave 3 is finally here.

[Rhys]

Interesting I hear about elliot wave theory here, I've been listening to this guy's videos regarding Wave 3 coming as soon as.. tomorrow:

http://www.youtube.com/watch?v=OcYFnMG5u6c

Check out all his videos, they were updated daily until recently when he decided it's no longer necessary to discuss because wave 3 is finally here.

interesting because the EURUSD is at the bottom of a 5 wave decline... that the S&P is in a possible yearly 5 wave decline makes me say gold is going to $15k

[ultimaonliner]

It's often noted that the strength of precious metals are correlated to the strength of the dollar. The dollar has been dipping in strength due to deficit spending and borrowing from other countries, plus the dollar being fiat currency. Do you guys think that this will change at all in the next 2 Presidential terms? Will the dollar come close to the strength it was decades ago?

And by the way, I found a nice place to buy silver without the hassle of bidding or shopping tons of metal/coin stores, it's www.bulliondirect.com. Anyone shop there before?

IMHO there is no way the Fed will allow for deflation and will continue to print money. How the dollar behaves when compared to other currencies is not so clear to me. The US Dollar is rallying short-term because of other economies showing obvious signs of deterioration now.

Long-term, I believe that we will have significant inflation and thus gold is an asset to be long on.

Its correlation with the US Dollar will impact gold prices, but at some moment, inflation will determine gold's long term worth IMHO.

[RevolutionSD]

Gold has bottomed out now and turned the corner in the after-hours trading this weekend. A smart move would be to buy some gold on Monday while prices are still low. Fall is traditionally gold-buying season so don't wait too long!

[Brian Defferding]

IMHO there is no way the Fed will allow for deflation and will continue to print money. How the dollar behaves when compared to other currencies is not so clear to me. The US Dollar is rallying short-term because of other economies showing obvious signs of deterioration now.

Long-term, I believe that we will have significant inflation and thus gold is an asset to be long on.

Its correlation with the US Dollar will impact gold prices, but at some moment, inflation will determine gold's long term worth IMHO.

Yeah, I agree.

Has anyone here looked into precious metal IRA's?

[Rhys]

something else interesting emerging today... the EURUSD pair in Forex is at a 3 day support and if you look at the last candle, it's a "shooting star" pattern.... these both make it look like it's time for the dollar to start going back down.

link to bigger chart: http://normlnj.org/rh/eurusd_8-18.JPG

http://normlnj.org/rh/eurusd_8-18.JPG