Long Island Shooters Forum banner
1 - 20 of 30 Posts

·
Premium Member
Joined
·
3,185 Posts
Discussion Starter · #1 ·
The word "crashing" comes to mind. I've been tracking the retail price for gold and silver Eagles from JM Bullion since October. I figure that's what I'm going to pay so it's a better indicator that the spot price. It's down 11% since mid October and silver isn't far behind. I want to start buying but damn, I'd hate to lose even more. List price for Eagles is $1,161.03, $1,158.25 if you buy 3 or more and pay by check. Silver is down to $18.79 for 20 or more, again, if you pay by check. It was $18.60 in early Nov. Again, retail JM Bullion prices.

Given world events, I'm surprised at the price drop. Sure the dollar is up but you really can't look around and think things are rosy? Am I just a pessimist without realizing it.
 

·
Borders, Language, Culture
Joined
·
4,738 Posts
To me, precious metal is a long term hold as a % of your portfolio. The commissions are too great to be trading coins & bullion. If you want to try your hand at trading them, buy/sell ETFs or mining shares.
 

·
Premium Member
Joined
·
3,185 Posts
Discussion Starter · #6 ·
I tend to be a buy and hold kind of guy. Selling short is something I'd have to do more research into. Not ready to go there yet. I did buy GLD and a silver ETV in my 401K right after the election, thinking that the dumbass had to tank the economy. I haven't given up on them yet. I also bought an oil ETF in the expectation that there would be a war between Iran and Israel plus others. That's looking like a probable scenario right now.
 

·
Registered
Joined
·
6,857 Posts
If gold hits $1k or below I'm probably going to pounce. Other than that I've taken a nice hit buying in at silver spot prices of $21 and $16. Maybe if silver hits $10
 

·
Registered
Joined
·
251 Posts
I wouldn't dedicate any more than 1% of my portfolio to precious metals. We're still struggling to get inflation on the map and falling energy prices aren't going to help that. I would trade mining contracts but trading the actual metals physically has too much frictional costs.
 

·
Registered
Joined
·
1,448 Posts
I was talking with my son, wouldnt be surprised to see another 20% reduction in gold prices before the end of the year if market trends continue in the path they're moving. But it is still a speculative guess.
 

·
Unappreciated while still alive
Joined
·
3,801 Posts
A friend asked me if I knew anyplace on Long Island to buy platinum. Every place online is trying to rape him by selling platinum way above spot. Do you guys know of any good stores on LI for platinum coins?
 

·
Anti-Statist
Joined
·
5,336 Posts
A friend asked me if I knew anyplace on Long Island to buy platinum. Every place online is trying to rape him by selling platinum way above spot. Do you guys know of any good stores on LI for platinum coins?
Everywhere I know local rapes you far more than online merchants. Cost of doing business in NY and subsequently LI.
 

·
Registered
Joined
·
6,857 Posts
If it hit $10 I was gonna buy in again. If it hits over my spot buy ins that I initially bought at I'm winning again. Either case I'm indifferent.
 

·
Premium Member
Joined
·
3,185 Posts
Discussion Starter · #20 ·
What's the opposite of "crashing"? Precious metals are making a significant run, especially silver. Will it continue?
No one know for sure, but if you believe that central banks tampering with fiat currencies around the world is going to
end badly, it's probably not too late to get in.
I'm kicking myself because I didn't buy when Gold was at $1109 or so, thinking it would go lower. Now it's too high, maybe? I do think the central banks are messing with us and long-term gold and silver are good buys. I just don't have the courage of my convictions to actually buy now. Damn coward I am.
 
1 - 20 of 30 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top