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Serious Damage Done to Precious Metal
Posted on 4/13/13 at 8:01 am
Posted on 4/13/13 at 8:01 am
Bull market hopes on Friday. I've been bullish for a while with thank goodness no position.
~70 dollar down days in gold aren't common in a bull market. Unless gold rebounds to the upside early next week the gold bull is over IMO.
~70 dollar down days in gold aren't common in a bull market. Unless gold rebounds to the upside early next week the gold bull is over IMO.
5
Posted on 4/13/13 at 9:00 am to LSU0358
Looks like doomsday will have to wait until next year.
Posted on 4/13/13 at 9:58 am to LSU0358
I just hope this is not a preview of a cyclical deflationary cycle.
Of course, wiki would love to have that happen. Just think of all the increased liberty all those bankruptcies would create!!!
Of course, wiki would love to have that happen. Just think of all the increased liberty all those bankruptcies would create!!!
Posted on 4/13/13 at 2:08 pm to LSU0358
quote:
~70 dollar down days in gold aren't common in a bull market. Unless gold rebounds to the upside early next week the gold bull is over IMO.
Technically gold just entered a bear market, so there's that...
Posted on 4/13/13 at 4:55 pm to OFWHAP
quote:
just entered a bear market
Exactly.
Posted on 4/13/13 at 5:19 pm to LSURussian
quote:
I just hope this is not a preview of a cyclical deflationary cycle.
I don't think it will be anything immediate. The stock market is looking too nice at the moment. In 1 to 1.5 years we could get a nasty downturn IMO. I don't think we take out the 2008/2009 lows. But it's going to scare everyone. Think it occurs when Benny takes the punch bowl away.
I've been way off on my commodity prediction. I'm still up very nicely this year in my leveraged acct with mini-Dow trading. My cash (401k) has done extremely well with DSX, MMM, and XLI this year. I've missed any potential commodity shorts and the US Dollar bull that has now begun. I'll be making an entry in it shortly.
Posted on 4/13/13 at 5:26 pm to LSU0358
quote:
LSU0358
Can you tell me when my Xbox Live Gold is going to work again?
Posted on 4/13/13 at 5:54 pm to Vols&Shaft83
IDK much about gold, but silver prices are starting to look attractive.
Posted on 4/13/13 at 6:43 pm to LSURussian
quote:
Just think of all the increased liberty all those bankruptcies would create!!!
isn't deflation a natural thing? markets get hot, prices increase. they get too high, and they decrease.
honest question
Posted on 4/13/13 at 8:28 pm to Bunk Moreland
They can scream all they want, the price is the price.
There is no doubt it's orchestrated. The banks borrow (paper gold) depository gold at a fee of 1-2% on the year. They sell the gold on the open market using the paper receipt as collateral. All very legal by the way. The purpose is to drive the gold price down.
There is no doubt it's orchestrated. The banks borrow (paper gold) depository gold at a fee of 1-2% on the year. They sell the gold on the open market using the paper receipt as collateral. All very legal by the way. The purpose is to drive the gold price down.
Posted on 4/13/13 at 11:08 pm to LSURussian
Wouldn't deflation be a positive to most consumers as their purchasing power would increase? Also, deflation would be great for savers. However, deflation would hurt borrowers and those making regular payments on debts.
Posted on 4/13/13 at 11:16 pm to brodeo
quote:
Wouldn't deflation be a positive to most consumers
No, because unemployment increases in a deflationary spiral. Full time jobs are reduced to part time jobs. Banks slow lending because collateral values decline. Auto sales slow as buyers wait for prices to fall. Assets usually held for wealth generation purposes (commercial real estate, precious metals, stocks) decline in value.
Posted on 4/13/13 at 11:29 pm to LSURussian
If prices are declining, wouldn't that spur spending on cars? If prices are low, most businesses should see an increase in business, which should offset the need to layoff workers. Stocks would decline in value, but in real dollars they would remain roughly the same as the differences in price are purely due to changing from inflation to deflation (their value remains the same relative to the market, only their price changes).
Posted on 4/13/13 at 11:32 pm to kingbob
quote:
If prices are declining, wouldn't that spur spending on cars? If prices are low, most businesses should see an increase in business, which should offset the need to layoff workers. Stocks would decline in value, but in real dollars they would remain roughly the same as the differences in price are purely due to changing from inflation to deflation (their value remains the same relative to the market, only their price changes).
But if I anticipate that the car will be even cheaper if I only wait a little longer, then I'll keep waiting. If you have any kind of debt, the dollar value of your debt will remain the same in a deflationary period, so you will have to pay back your debt with a decreased income.
Posted on 4/13/13 at 11:34 pm to OFWHAP
That makes sense. I would assume that purchasing that does not require debt would increase while purchasing on credit would decrease.
Posted on 4/13/13 at 11:38 pm to kingbob
Even with regards to purchasing on credit or with cash, if you anticipate that any good is going to decrease in price in the future, you're going to wait as long as you can. The thing is that many people will be doing this, which will drive the prices even lower. Pretty soon businesses will begin to have cash flow issues.
Posted on 4/14/13 at 9:35 am to OFWHAP
Everybody is negative except for 1 dude. I think I'll put in a CEF order. It's trading below NAV and that's rare.10 yr average is a +7.5% and right now it's discounted. It's been positive since 02 looks like by the chart.
Posted on 4/15/13 at 4:59 am to LSU0358
Gold down $115/oz & silver down $3.30oz (12%) this morning.
This post was edited on 4/15/13 at 5:02 am
Posted on 4/15/13 at 7:12 am to LSURussian
quote:
Gold down $115/oz & silver down $3.30oz (12%) this morning.
At first I was unhappy I'd missed the shorting opportunity. Now I'm just happy I wasn't long.
Over the coming weeks all of the physical holders that are average joe's will have to sell at steep discounts compared to the spot prices.
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