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Good question, would I be right in thinking the first one of these 'big' drops was shortly after the DOW started its big drop a few weeks ago? Safe to say the crashing dow is triggering the sell offs as value is lost from stocks and assets are the next best alternative.

 

Will this go on for as long as the DOW crashes? Perhaps not.. In Chris Martenson videos, he points out that human nature always go for and consume/deplete the plentiful, easily available and most rewarding resources first. I guess we might have a kind of reverse of this situation, in that PM being the most plentiful and easily off-loadable assets are sold in the 'first wave', before the more tricky to offload assets are sold. Perhaps we're are also seeing a bit of the 'Dont Panic, Panic First' mentality in selling PM while the price is near the top.

 

That doesnt by itself help spot the bottom, but if we know what other difficult to sell things leveraged institutions have, watching for a sell spike in these could signal that the easy stuff is all gone, and its a good time to buy. I havent a clue what these would be though!

 

Given the massive sell off of everything, I think POG could easily take 700 at some stage. Who knows it may go further.

 

From my perspective, this is shaping up to be one of the buys of a lifetime. POG does not represent the real value at present. All is in flux.

 

IMO the real value of gold will be represented when the we see the dollar itself in flux sometime in the not too distant future. :)

 

Edit: Look for climbing yields in the treasury market.

 

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I think they show that silver is grossly undervalued due to massive manipulation. Steal of a lifetime IMO.

 

Totally agree. Isn't the historical ratio 15:1? that would make it about $50 silver right now :o

 

$9.60 pfft..... not that you can buy physical at that price, what a joke :angry:

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Good question, would I be right in thinking the first one of these 'big' drops was shortly after the DOW started its big drop a few weeks ago? Safe to say the crashing dow is triggering the sell offs as value is lost from stocks and assets are the next best alternative.

 

Will this go on for as long as the DOW crashes? Perhaps not.. In Chris Martenson videos, he points out that human nature always go for and consume/deplete the plentiful, easily available and most rewarding resources first. I guess we might have a kind of reverse of this situation, in that PM being the most plentiful and easily off-loadable assets are sold in the 'first wave', before the more tricky to offload assets are sold. Perhaps we're are also seeing a bit of the 'Dont Panic, Panic First' mentality in selling PM while the price is near the top.

 

That doesnt by itself help spot the bottom, but if we know what other difficult to sell things leveraged institutions have, watching for a sell spike in these could signal that the easy stuff is all gone, and its a good time to buy. I havent a clue what these would be though!

 

http://www.fxstreet.com/news/forex-news/ar...91-92e302683295

 

This news certainly didn't help commodities and PoG today....core CPI level.

 

Edit: to make sense

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Given the massive sell off of everything, I think POG could easily take 700 at some stage. Who knows it may go further.

 

From my perspective, this is shaping up to be one of the buys of a lifetime. POG does not represent the real value at present. All is in flux.

 

IMO the real value of gold will be represented when the we see the dollar itself in flux sometime in the not too distant future. :)

 

As a person who has put some money into gold (and silver) largely because of the confidence of many people on this forum (and other places), it's all a bit nerve-racking.

 

I can more or less understand the reasons why PMs may rise substantially in value in the future, but I'm sure someone could present me with reasoned arguments why PMs will fall in the future (short-, medium- or long-term), and I would be equally easy to convince. The movements of silver and gold lately are just a complete mystery to me. It seems like everything in the world is just worth less than it was -- whereas, in my simple model of the world, some money must be flowing into something and increasing that something's value, and I assumed that would be gold and silver...

 

Basically, I lack the conviction of my own well-thought-out position[1] to be sure I'm doing the right thing. In some ways, it would certainly be a relaxing thought to know I'm just getting my 5 or 6% from some savings account... even if that means I'm only really breaking even.

 

If I were to come out of PMs altogether, I might regret it if we have rampant inflation[2]. Moderate inflation wouldn't be too bad with some money in index-linked savings. If we have deflation, then cash will be okay, won't it?

 

If gold does go back to $700 (and an appropriately lower value in GBP), then -- especially given the horrible things that have happened and are happening in silver -- that would just about scare me off I think... and if I'm destined to be scared off, then I may as well be scared off sooner rather than later, because my losses will be lower! :D

 

If only I 'deeply and fundamentally' understood (and importantly believed) that PMs can only really go one way over the next couple of years or so...

 

Sorry about the negative vibe I've been putting out lately. I know it doesn't quite go with the 'rah, rah, gold is great' thing! ;)

 

[1] Because I don't have a well-thought-out position at all.

 

[2] I'm not sure I could predict what would happen (or even what it would feel like) to live in hyperinflationary times, so I can't say whether it would make sense to be 100% in gold under those circumstances. Do the 100%ers think that a few sovereigns will save them? I find it hard to know what would be left of civilisation by then, and what having a few gold coins would do for the cause...

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What buying opportunity?

 

On BV in Euros it's just sitting there with a wide spread 629 & 607

 

Yeah, pretty annoying. I have been waiting for a couple of hours now trying to buy a big chunk. BV starts being a bit silly. I may move some gold to GM.

 

EDIT: just asked them and they nearly sold all their gold in that vault

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As a person who has put some money into gold (and silver) largely because of the confidence of many people on this forum (and other places), it's all a bit nerve-racking.

 

I can more or less understand the reasons why PMs may rise substantially in value in the future, but I'm sure someone could present me with reasoned arguments why PMs will fall in the future (short-, medium- or long-term), and I would be equally easy to convince. The movements of silver and gold lately are just a complete mystery to me. It seems like everything in the world is just worth less than it was -- whereas, in my simple model of the world, some money must be flowing into something and increasing that something's value, and I assumed that would be gold and silver...

 

Basically, I lack the conviction of my own well-thought-out position[1] to be sure I'm doing the right thing. In some ways, it would certainly be a relaxing thought to know I'm just getting my 5 or 6% from some savings account... even if that means I'm only really breaking even.

 

If I were to come out of PMs altogether, I might regret it if we have rampant inflation[2]. Moderate inflation wouldn't be too bad with some money in index-linked savings. If we have deflation, then cash will be okay, won't it?

 

If gold does go back to $700 (and an appropriately lower value in GBP), then -- especially given the horrible things that have happened and are happening in silver -- that would just about scare me off I think... and if I'm destined to be scared off, then I may as well be scared off sooner rather than later, because my losses will be lower! :D

 

If only I 'deeply and fundamentally' understood (and importantly believed) that PMs can only really go one way over the next couple of years or so...

 

Sorry about the negative vibe I've been putting out lately. I know it doesn't quite go with the 'rah, rah, gold is great' thing! ;)

 

[1] Because I don't have a well-thought-out position at all.

 

[2] I'm not sure I could predict what would happen (or even what it would feel like) to live in hyperinflationary times, so I can't say whether it would make sense to be 100% in gold under those circumstances. Do the 100%ers think that a few sovereigns will save them? I find it hard to know what would be left of civilisation by then, and what having a few gold coins would do for the cause...

 

I share your pain.

But remember its an insurance policy, you hope you never need it. ;)

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I must confess to feeling less concerned about the falls in POG having read a few articles about, amongst other things, the COMEX farce. My eyes have been opened further by the sheer scale of the disinformation the central banks, governments and even the financial media keep firing at us. On Youtube last night, I watched a collage of footage featuring Paulson, Bernanke, Darling et al charting their statements from the beginning of the subprime debacle to the present day. CNBC's contempt for gold and what it represents would be laughable if it wasn't for the fact that nigh on every commentator - with the notable exceptions of, among others, Philip Manduca and Jim Rogers - displays a smugness that I'd like to wipe off their face with a baseball bat.

 

When I sold my property last year, I knew things would get bad but tended to ignore doomsday predictions from people like Cgnao when I was lurking over at HPC believing, instead, that surely the central banks wouldn't let it get to the nightmare scenario he depicted with such conviction - boy, was I wrong ?

 

I scoffed at the the existence of the "PPT" but have since learned that it is real and in operation doing its utmost to make gold look like a losing bet every day the COMEX opens in NY. Anecdotes reporting shortages of physical gold are widespread and each day, more and more people are abandoning faith in the financial system while waiting for another shoe to drop.

 

 

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I share your pain.

But remember its an insurance policy, you hope you never need it. ;)

 

Oh it will be needed, there is no other direction to travel now, the path is paved... gold and silver are going to the moon.

 

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...

From my perspective, this is shaping up to be one of the buys of a lifetime.

...

Look at silver and palladium. :o

 

....

Sorry about the negative vibe I've been putting out lately. I know it doesn't quite go with the 'rah, rah, gold is great' thing! ;)

 

[1] Because I don't have a well-thought-out position at all.

You should get out of the kitchen if you can't stand the heat.

 

EDITed for moronic grammar.

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Quite so.

I am mentally prepared for $500 -- a 50% from $1,000 similar to the one in the 70s from $200 to $100 before it took off to $850.

 

Below $500 I would conclude that it is too late anyway, and would hang on. I'm a hopeless case for the cartel. Sorry! :lol:

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@400oz LBMA gold bars and @1000oz silver bars

 

Amazing, I thought they were both 1000oz !

Shows how many I have :D

 

Here is the detailed spec:

http://www.lbma.org.uk/delivery/definitn

 

 

minimum gold content

350 troy ounces (approximately 10.9 kilograms)

maximum gold content

430 troy ounces (approximately 13.4 kilograms)

 

minimum silver content

750 troy ounces (approximately 23 kilograms)

maximum silver content

1100 troy ounces (approximately 34 kilograms)

 

So they have quite a big range as well.

 

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As a person who has put some money into gold (and silver) largely because of the confidence of many people on this forum (and other places), it's all a bit nerve-racking.

 

I can more or less understand the reasons why PMs may rise substantially in value in the future, but I'm sure someone could present me with reasoned arguments why PMs will fall in the future (short-, medium- or long-term), and I would be equally easy to convince. The movements of silver and gold lately are just a complete mystery to me. It seems like everything in the world is just worth less than it was -- whereas, in my simple model of the world, some money must be flowing into something and increasing that something's value, and I assumed that would be gold and silver...

 

Basically, I lack the conviction of my own well-thought-out position[1] to be sure I'm doing the right thing. In some ways, it would certainly be a relaxing thought to know I'm just getting my 5 or 6% from some savings account... even if that means I'm only really breaking even.

 

If I were to come out of PMs altogether, I might regret it if we have rampant inflation[2]. Moderate inflation wouldn't be too bad with some money in index-linked savings. If we have deflation, then cash will be okay, won't it?

 

If gold does go back to $700 (and an appropriately lower value in GBP), then -- especially given the horrible things that have happened and are happening in silver -- that would just about scare me off I think... and if I'm destined to be scared off, then I may as well be scared off sooner rather than later, because my losses will be lower! :D

 

If only I 'deeply and fundamentally' understood (and importantly believed) that PMs can only really go one way over the next couple of years or so...

Sorry about the negative vibe I've been putting out lately. I know it doesn't quite go with the 'rah, rah, gold is great' thing! ;)

 

[1] Because I don't have a well-thought-out position at all.

 

[2] I'm not sure I could predict what would happen (or even what it would feel like) to live in hyperinflationary times, so I can't say whether it would make sense to be 100% in gold under those circumstances. Do the 100%ers think that a few sovereigns will save them? I find it hard to know what would be left of civilisation by then, and what having a few gold coins would do for the cause...

There is no guarantee that PMs will be worth more in the next couple of years. Try reading some blogs from Iceland over the last couple of weeks to disabuse yourself of the notion that there is any guarantee with any domestic currency (particularly sterling).

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