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Old 04-13-2013, 08:38 PM   #51 (permalink)
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Gold under $750/oz
Silver under $12/oz

Both will occur in the next 4-7 years.

Historically:
Precious metals are sufficient short term hedges.
Precious metals are one of the very worst longs.


If I were a gambling man with disposable income I would short as much gold as possible.
I believe the cost to get gold from the ground is around $1200/oz. so that should be the bottom. I got that number from a couple diff. refiners I deal with
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Old 04-13-2013, 10:39 PM   #52 (permalink)
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I believe the cost to get gold from the ground is around $1200/oz. so that should be the bottom. I got that number from a couple diff. refiners I deal with
Do you have a bottom for silver?
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Old 04-13-2013, 11:02 PM   #53 (permalink)
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I believe the cost to get gold from the ground is around $1200/oz. so that should be the bottom. I got that number from a couple diff. refiners I deal with
So I guess fullmetal's $750 is out the window...

I'm also wondering what the bottom is on the silver?
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Old 04-13-2013, 11:07 PM   #54 (permalink)
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I believe the cost to get gold from the ground is around $1200/oz. so that should be the bottom. I got that number from a couple diff. refiners I deal with
Gold extraction, like oil extraction runs the gamut. The market price determines how much miners are willing to spend to extract. As price decreases, then the more expensive methods and locations are mothballed.

Right now India is pushing the demand for gold. The UAE was pushing demand a few years ago, but the Emirates have slowly begun to sell off. The majority of gold is held by governments.

Gold follows no rules. While liquid now, who knows what the future holds.
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Old 04-13-2013, 11:10 PM   #55 (permalink)
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Pft. Forget this. I've been stocking up on gasoline. Just head to the gas station and fill up garbage cans full of the stuff. Store it in the basement. When all heck breaks lose, I'll be the gas man.
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Old 04-13-2013, 11:20 PM   #56 (permalink)
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So I guess fullmetal's $750 is out the window...

I'm also wondering what the bottom is on the silver?
Not at all. Gold isn't chemically inert, but doesn't readily change. All gold ever refined is still in existence today. Unlike oil, gold is not consumed, thus the cost of extraction plays a small role in the market price.

The average cost of extraction increased from $376 per ounce in 2007 to $662 per ounce in 2011. Executives in several gold companies were fired over poor cost management last year.
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Old 04-13-2013, 11:21 PM   #57 (permalink)
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Pft. Forget this. I've been stocking up on gasoline. Just head to the gas station and fill up garbage cans full of the stuff. Store it in the basement. When all heck breaks lose, I'll be the gas man.
BOOOOOOOOOOOOOOOM BABY!!!!!!

HAHAHAHAHAAAAAAAA
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Old 04-13-2013, 11:22 PM   #58 (permalink)
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Last week, Goldman began advising clients to short gold.

FYI
Historically gold:silver has been 31:1.
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Old 04-13-2013, 11:29 PM   #59 (permalink)
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Not at all. Gold isn't chemically inert, but doesn't readily change. All gold ever refined is still in existence today. Unlike oil, gold is not consumed, thus the cost of extraction plays a small role in the market price.

The average cost of extraction increased from $376 per ounce in 2007 to $662 per ounce in 2011. Executives in several gold companies were fired over poor cost management last year.
Then you know your stuff, what can I say.... you make good points with that post above. I guess they move to more affordable ways. very good fullmetal! Thanks

As for gold.... the internet didn't exist for most of the history of gold, so unless you had rich uncle Charles, you didn't know anything about gold and silver. So therefore there will be less and less available as time goes by, as more and more people stock up for long term, and some to never even sell it!

Just take this one thread as an example... you have at least one person that's never bought silver or gold, and that because of this thread made their first purchase! That speaks volumes if you ask me. How many people will catch the bug? In which then they're all addicted, and rightfully so, and buy and buy, and buy.............. How long before it dries up to a point where they have people on the waiting list to buy silver and gold! lol

Just think about it, no internet, so only people in the know would play. Now it's spreading like wildfire with no signs of stopping, and once hooked, I would imagine most people, if not all, will buy and buy for the rest of their lives!

I think we'll see the day when gold and silver becomes dried up a LOT. Maybe silver more because it's so afforbale. But how long can it stay affordable for? Internet............. it's all about the internet imo these days.

Makes me wanna start a separte thread - The internet/forums/youtube, and the affects it has on Gold and Silver
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Old 04-13-2013, 11:32 PM   #60 (permalink)
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^^^

Truthfully, there is no right or wrong answer today or ever. Ask an economist about gold and most will shy from the topic. Gold doesn't follow traditional rhymes or reasons.

I would never advise (professionally) someone for or against precious metal investment. I don't think many advisors do because the market is impossible to measure.

Make your head spin:

Why not lead?
Why not mercury?

Both have more uses than gold. Gold has a few industrial uses and numerous cosmetic uses, but on the whole gold doesn't have much industrial value. Thus, gold is driven by forces that are largely tastes and perception. Those are two things that I am not confident enough to place monetary risk on.
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Last edited by fullmetal; 04-13-2013 at 11:35 PM.
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Old 04-13-2013, 11:45 PM   #61 (permalink)
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Even if there wasn't any use at all for gold... Gold will always be Gold. It's been for thousands of years, and people have always cherished it. So that's not going to change any time soon, if ever. The only thing that can happen to gold if you ask me, is dry up. Then what will happen to the price?

More than anything else, I think the internet, and word of mouth these days, has the biggest affect on gold in terms of drying up. When the average joe learns about gold and silver and gets in the game too, how long is it before it's dried up more than ever before. That's what I would love to see! What happens when it's no longer just a thing for the rich, and everyone gets involved and buy it on a regular basis. Then what will happen to the price, and more important, can they get it out of the ground fast enough to supply the demand?

Heck, who had a computer some years back.... not many people. Now who doesn't! Who's not on facebook, or some kind of forum? How long before the topic of gold and silver comes up? So many questions that will be answered all in good time. I just hope I stack enough!!!
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Old 04-14-2013, 12:04 AM   #62 (permalink)
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I heard rare earth metals is where it's at
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Old 04-14-2013, 12:07 AM   #63 (permalink)
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I heard rare earth metals is where it's at
Such as? Thanks in advance.
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Old 04-14-2013, 12:21 AM   #64 (permalink)
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Pft. Forget this. I've been stocking up on gasoline. Just head to the gas station and fill up garbage cans full of the stuff. Store it in the basement. When all heck breaks lose, I'll be the gas man.

Well, if the #@#@#@#@ hits the fan in the next 2 months you are covered.
Evaporation,Oxidation and other factors give gas a shelf life of 2-6 months, but you may beat those odds !
Add a stabilizer and drop the cans, in plastic, 5 feet under ground and bury them and you may get it to 2 years :P
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Old 04-14-2013, 12:23 AM   #65 (permalink)
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Such as? Thanks in advance.
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Old 04-14-2013, 12:31 AM   #66 (permalink)
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Well, if the #@#@#@#@ hits the fan in the next 2 months you are covered.
Evaporation,Oxidation and other factors give gas a shelf life of 2-6 months, but you may beat those odds !
Add a stabilizer and drop the cans, in plastic, 5 feet under ground and bury them and you may get it to 2 years :P
LOOOOOOOOOL This was a spit out the drink moment...

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Gadolinium
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Thank you. I will research these.
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Old 04-14-2013, 02:10 AM   #67 (permalink)
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really? put one on your screen, it'll be fun
Lmao

Thanks for the laugh
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Old 04-14-2013, 07:34 AM   #68 (permalink)
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Why not lead?
Why not mercury?
Poisonous and poisonous.
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Old 04-14-2013, 08:09 AM   #69 (permalink)
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^^^

Truthfully, there is no right or wrong answer today or ever. Ask an economist about gold and most will shy from the topic. Gold doesn't follow traditional rhymes or reasons.

I would never advise (professionally) someone for or against precious metal investment. I don't think many advisors do because the market is impossible to measure.

Make your head spin:

Why not lead?
Why not mercury?

Both have more uses than gold. Gold has a few industrial uses and numerous cosmetic uses, but on the whole gold doesn't have much industrial value. Thus, gold is driven by forces that are largely tastes and perception. Those are two things that I am not confident enough to place monetary risk on.
Because both of those are deadly. Gold has been a store of value for over 5,000 years and will be Forever. China was a net importer of Gold last year for the first time ever. This is huge. China is trying to topple the USD, and return to a (Chinese) Gold backed currency. Silver is the most useful metal around. There are numerous uses found ever year, heck you can drink it, eat it, wear it. The value in silver lies in the fact of how much gets used yearly and is never recovered we "lost" over a billion oz'sin the last 10 years. And with Solar power gaining steam every year, tons of silver will be used in that industry as well.


For those buying gold or silver, if you need someone to sell to , pm me I am always buying
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Old 04-14-2013, 08:11 AM   #70 (permalink)
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Anybody have experience buying physical silver ? Any advice as to sites?
Providentmetals.com
Apmex.com(biggest site, but higher premiums)
jmbullion.com
Gainesvillecoins.com



Those are the main ones I use weekly.
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Old 04-14-2013, 08:14 AM   #71 (permalink)
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ill stick with stocks with divs.
Ok and what happens(and it does all the time) when the stock market starts diving.


The 1 word to live by: Diversify.


I "lost" over 5 figures on Friday, with the drop in metals. But I recovered that "loss" through my stock holdings.
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Old 04-14-2013, 08:20 AM   #72 (permalink)
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Seriously? You must have found a nice area for loonies.

I haven't received a silver dime/quarter in change since probably 1988. I wonder if kids are starting to inherit estates and don't understand the content of old common coinage.

My grandparents owned a coin laundry and they only received maybe five per week by 1985. They saved all the silvers that they took in.

I do save all my 1982 and older pennies.
I have a nice little honey hole here in NY, everyone is too "proud" to look at change. I got a little over 3 ozs, this past year, just from change back from stores(granted, I pay cash for everything I buy, and never give change, so I always get some back dail). I recieved a 1909 VDB from Wendy's a few years back, near perfect conition, ending up selling it for $61.


I also save all of my copper pennies, I also get boxes every week from the bank(doesn't hurt that my mom is the branch manager and my fiance is the vault teller, I am currently sitting on a little over 3 tons in copper pennies.

and don't forget bricks of nickels, lol.
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Old 04-14-2013, 04:19 PM   #73 (permalink)
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I also save all of my copper pennies, I also get boxes every week from the bank(doesn't hurt that my mom is the branch manager and my fiance is the vault teller, I am currently sitting on a little over 3 tons in copper pennies.
Nice dude. Melt value on that's gotta be near $10K.
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Old 04-14-2013, 04:43 PM   #74 (permalink)
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Nice dude. Melt value on that's gotta be near $10K.
And a prison sentence.
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Old 04-14-2013, 05:27 PM   #75 (permalink)
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And a prison sentence.
Haha... yeah. Do you think that will ever be lifted?

I was thinking about this, only buy that machine that spits them out fast. Is it worth the about $500 investment for the machine?
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