What do you see gold doing over the next several weeks? Buy now, or wait?

[The Gold Standard]

Why are you buying it? If you are buying it to store your wealth, then now is as good a time as any since gold is roughly as valuable as it has always been. The price of gold has been driven down by fractional reserve paper gold flooding the market, so actual physical gold is really dirt cheap at these prices.

If you are buying to cash them in for dollars in the near future then I guess you need to worry about these things, but it is still a good time to buy. The only thing the Fed could do to crash the price of gold is to jack interest rates up, and that isn't going to happen. They would bankrupt the federal government if they did. They would sooner destroy the dollar than bankrupt the federal government.

They can sell more paper to try and keep the price as low as possible, but at a certain point people will catch on and demand their gold, so they won't want to trigger a run on the paper gold funds. There is very little they can do to bring down the price, they can only fight to keep it from rising too much.

Being an election year though, you could see the Fed printing money to give Obama a better looking economy, you could have a new war or two, you could have more and bigger Euro bailouts. All of these would shoot up the price of gold. I would say no matter the reason it is a good time to buy if you are able.

[youngbuck]

personally I would not sell silver to buy gold at this point... silver/gold ratio is still way way way below historical average

I'm not selling my silver. I want to buy gold to ADD to my silver.

[youngbuck]

What if it never goes down to $1600 and instead goes to over $2000? OR what if it went to $1600- and kept going down?

Yes, I know how commodities and stocks can change in price. I was just trying to get a feel from others, considering they may have knowledge and insight that I don't, on whether the dollar might be appreciating in the near term for some reason, thereby causing the price of PMs to go down.

[Blueskies]

"Those who live by the crystal bill are doomed to eat broken glass"

The price could go up, the price could go down. There might be wild gyrations.

How long is the investment for? Do you still like the fundamental story?

[RDM]

Yes, I know how commodities and stocks can change in price. I was just trying to get a feel from others, considering they may have knowledge and insight that I don't, on whether the dollar might be appreciating in the near term for some reason, thereby causing the price of PMs to go down.

It's been ticking down in price. Since Bernanke is considering doing a modified QE3 by late summer, I can see the price tick down as long there is no abrupt moves with Iran. Usually the markets creep down before a QE3 which allows the big player to buy in before the sudden spike. Keep a eye on the ME and oil prices for now and monitor gold daily. If you see a big dip down, make a partial buy in then wait and see if it drops again and do another partial buy in. Do that until you see a noticible uptick and go the rest in.

[buffed]

Ammunition is a a better investment currency with less downside risk than gold or silver. I would still buy precious metals if there's a price drop but here's something to consider. In non-inflation adjusted dollars Gold did not regain it's previous 1980 high until 2008 and that's in non-inflation adjusted dollars. Using .223 / 5.56 ammo for comparison, a 1,000 rounds in 1985 could be found for just under $100, now it will cost you over $400 (non-inflation adjusted). There's more downside risk with Gold as it was below $400 an oz as recently as late 2003. Unless you own physical Gold it might be difficult to redeem investments if there's an economic/societal collapse which ironically what Gold investors are betting on. Those that do time it right and cash out at the last moment will still end up with paper dollars. Ammo has limited downside risk, maybe 25% where as Gold could drop 75%. It's also highly liquid and can easily be disbursed in incremental quantities making it an ideal currency instrument. Finally, without it that sackful of Gold in your hand will end-up in the ammo investors pocket anyway.

[thoughtomator]

The timing on this thread was picturesque:

http://www.businessinsider.com/gold-...y-again-2012-3

Gold just took a donkey punch to the testicles

[The Freethinker]

I have this morning increased my reserv0ir of the pretty yell0w shiny stuff. And it has gone down by a bit since I placed my order. It may go down further - but this was definitely a good time to acquire some more.

Gold is money, and silver is money. FRNs are not money.

[seraphson]

I have this morning increased my reserv0ir of the pretty yell0w shiny stuff. And it has gone down by a bit since I placed my order. It may go down further - but this was definitely a good time to acquire some more.

Gold is money, and silver is money. FRNs are not money.

PFFT! You obviously know nothing of gold. All hail the great Bernanke!

/s

[WilliamC]

You got the cash?

Buy it now.

Then save up and buy some more.