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08/03/11, 10:45 AM
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Join Date: Jul 2010
Location: WA
Posts: 1,788
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Precious Metals
Anyone else noticing the rise in PM prices today?
Silver's at $41.75 will it reach $42 today? Gold's at $1670.56 and rising.
I guess it's not really that PM's are rising, but that our US inflation is rising and our US dollar is becoming worth less & less as I type.
Wish I'd seen the writing on the wall earlier and purchased the PMs at the beginning of the year, but I didn't understand it all. When I finally started understanding it, and got my money together, silver had already increased to $38. I've been waiting for it to dip down to $33/oz and I was going to buy. Not sure I'll get that chance now.
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08/03/11, 11:38 AM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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If you have cash,buy now.The Bull has resumed.Looks like the last floor on silver was in 35 area,thats gone.
I was going to put up same thread only add,DOW is tanking again,11,775,thats down 350 in 2 days.Dow was 12,725 six weeks ago,down a thousand almost.Dow is all over the place right now.
With the Euro Banks and debts,Europe is imploding.
Looks like the double dip has landed.
Im liking Gold more than silver right now,not quite as volatile.3000 Gold,wouldnt surprise me one bit,we have trillions and trillions that need to be inflated away.
Last edited by mightybooboo; 08/03/11 at 11:45 AM.
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08/03/11, 11:43 AM
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Join Date: Jul 2006
Location: Eastern North Carolina
Posts: 34,176
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Quote:
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our US inflation is rising and our US dollar is becoming worth less & less
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If the dollar is worth less, it takes more of them to buy the same amount of gold.
It shouldn't be surprising that the cost is rising
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08/03/11, 11:47 AM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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Quote:
Originally Posted by Bearfootfarm
If the dollar is worth less, it takes more of them to buy the same amount of gold.
It shouldn't be surprising that the cost is rising
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Not at all,simple supply and demand to a large degree,minus the manipulations that get harder and harder to pull as prices increase.
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08/03/11, 05:24 PM
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Join Date: Dec 2006
Location: Newfoundland, Canada
Posts: 1,120
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i thought you meant copper, lead, and brass.
couldn't help myself.
dean
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greetings from the far east of the western world
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08/03/11, 05:50 PM
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Join Date: Jul 2006
Location: Eastern North Carolina
Posts: 34,176
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Quote:
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i thought you meant copper, lead, and brass.
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More precious than gold for sure
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08/03/11, 06:25 PM
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"Slick"
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Join Date: Apr 2009
Location: Moving from NM to TX, & back to NM.
Posts: 2,341
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Yes, the prices are going up.
It is difficult to even pay the spot price any more.
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08/03/11, 06:27 PM
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Happy Scrounger
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Join Date: Feb 2007
Location: South Central Wisconsin
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I'm curious as to why you'd think that brass is more precious than gold? gold can be formed into more items, it's useful in filling teeth, lining vessels so you don't leech the lead or other chemicals into your system when you drink; it's an excellent conducter(means a wire made of gold will carry your electricity further with less loss than any other metal); and it doesn't corrode/tarnish. it's easy to form into complex thin shapes...
the only reason you don't see more every day items made of gold is that it's also very rare compared to most other metals.
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08/03/11, 10:29 PM
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Join Date: Jul 2006
Location: Eastern North Carolina
Posts: 34,176
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Quote:
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I'm curious as to why you'd think that brass is more precious than gold?
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Here's a hint of what you can do with copper , lead, and brass:
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08/03/11, 11:21 PM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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Quote:
Originally Posted by Bearfootfarm
Here's a hint of what you can do with copper , lead, and brass:
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Yeah,bank loves em to pay your mortgage and taxes and medical and and and.....
Same old same old,some understand precious metal is wealth protection.If you dont have wealth to protect,wont matter much on this topic.
Anarchy is coming and you will be Rambo and shooting everyone,no problem there.Its a situation we frequently face,Anarchy and wholesale MURDER,unlike economic failures that dont happen nearly as often.
Thats sarcasm BTW.
Last edited by mightybooboo; 08/03/11 at 11:38 PM.
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08/04/11, 12:42 AM
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Join Date: Jul 2010
Location: WA
Posts: 1,788
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So gold and silver are going up, up, up. Dow has lost 1,000 points in approx. 6 weeks. I find it odd that the Dollar Index has not come down further. It's at 74.453; yet the first week in May it was down to 72.972. Finance sure is a complex beast, at least for me!
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08/04/11, 05:36 AM
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Join Date: Sep 2005
Location: EastTN: Former State of Franklin
Posts: 4,481
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Finance can be a beast to predict, but here is one chart that correlates the price of gold to the US debt "ceilings". 1950-2000 dollar gold seems to be in the bag.
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08/04/11, 01:06 PM
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WV , hilltop dweller
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Join Date: May 2002
Posts: 3,559
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good grief the red ink right now....everything down but the dollar and the Nikki.
Platinum is currently down 53.oo dollars....Dow Jones nearly 290.00....
scary....
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08/04/11, 01:24 PM
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Join Date: Jan 2004
Location: PA
Posts: 5,778
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Quote:
Originally Posted by Wisconsin Ann
I'm curious as to why you'd think that brass is more precious than gold? gold can be formed into more items, it's useful in filling teeth, lining vessels so you don't leech the lead or other chemicals into your system when you drink; it's an excellent conducter(means a wire made of gold will carry your electricity further with less loss than any other metal); and it doesn't corrode/tarnish. it's easy to form into complex thin shapes...
the only reason you don't see more every day items made of gold is that it's also very rare compared to most other metals.
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I think i can help answer this for you..
While gold can be formed in to many things it can't stand up to a lot of things..
Brass can be used as a bushing to keep steel from wearing away aluminum, etc.. Copper can be used to create wire for electric etc..
Lead is used in all kinds of things, even pianos..
Now while gold can do a lot of things, as you have stated it is a precious metal and the other metals copper, lead, brass are more plentiful.. So they are the metals that get used to make the items we use daily..
So other then the small amount of gold that is in electronics, how many items do you really use that contain gold? I would guess few, but almost all things metal contain some form of copper, brass, lead, aluminum etc...
So which is more precious? Gold because it is considered rare or the others we use every day?
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08/04/11, 01:37 PM
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In Remembrance
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Join Date: Aug 2010
Posts: 442
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What we are seeing should be expected after increasing the debt ceiling. The US has declared it will inflate the dollar. Japan isn't happy about that, since THEY want to inflate the Yen to pay for cleaning up the radioactive mess, so their central bank sold lots of Yen last night, trying to get the value down. But The Bernank is still keeping the dollar on course headed down.
Gold and silver were both up and running higher this morning, only to run into manipulative headwinds. The unholy alliance of JPMorgan Chase/Fed/Goldman Sachs/.Gov prop team has managed to pull them back a little. Apparently, TPTB absolutely don't want silver above $40.00. (Makes the dollar look bad.) It is a comparatively small market, and more easily manipulated than gold.
But the manipulation could see an end before long, as the COMEX runs out of physical silver to fill contracts. To stave that off, there have been unprecedented increases in the margin requirements for silver contracts, and TPTB even barred hedge funds from trading it, with rule changes lately. LOTS of big time corruption in PM's!! Travel at your own risk down that road.
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08/04/11, 01:39 PM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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Quote:
Originally Posted by beowoulf90
So which is more precious? Gold because it is considered rare or the others we use every day?
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Gold for wealth preservation,steel to build bridges.
Quit mixing apples and oranges,they have different uses.They both are 'precious' depending on what your use is.
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Now that DOW,thru the dang floor,over 300 down today....Here we go again,2008 all over. Get ready for MORE money transfers....The gov got our IOU,Wall street wants it all now and recent history says they will get it too.
Get rid of THAT handful of criminals and see if things dont get better real quick.Good luck on that ,as always Goldman Sachs and JP and that crowd run the gov.
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08/04/11, 01:43 PM
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Too Complicated For Cable
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Join Date: Feb 2011
Location: Washington
Posts: 10,120
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Quote:
Originally Posted by machinist
What we are seeing should be expected after increasing the debt ceiling. The US has declared it will inflate the dollar. Japan isn't happy about that, since THEY want to inflate the Yen to pay for cleaning up the radioactive mess, so their central bank sold lots of Yen last night, trying to get the value down. But The Bernank is still keeping the dollar on course headed down.
Gold and silver were both up and running higher this morning, only to run into manipulative headwinds. The unholy alliance of JPMorgan Chase/Fed/Goldman Sachs/.Gov prop team has managed to pull them back a little. Apparently, TPTB absolutely don't want silver above $40.00. (Makes the dollar look bad.) It is a comparatively small market, and more easily manipulated than gold.
But the manipulation could see an end before long, as the COMEX runs out of physical silver to fill contracts. To stave that off, there have been unprecedented increases in the margin requirements for silver contracts, and TPTB even barred hedge funds from trading it, with rule changes lately. LOTS of big time corruption in PM's!! Travel at your own risk down that road.
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I felt I should comment on the last part of this. With PM's being so manipulated and held down by the big boys, I think that makes it a great idea to buy physical. Trading in paper gold and silver never really made sense to me anyway though.
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08/04/11, 01:55 PM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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Quote:
Originally Posted by InvalidID
I felt I should comment on the last part of this. With PM's being so manipulated and held down by the big boys, I think that makes it a great idea to buy physical. Trading in paper gold and silver never really made sense to me anyway though.
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Physical beats paper but until physical goes into your IRA and in your hot little hands the ETF's was a good way to ride the market price,even if it isnt real.Of course its no safer than any other stock paper in reality.
And it does lend itself to the market manipulators.
ETF made me a lot of money since 2008,but Ive knocked that holding way down,not sure if it was a good move or not,but taking a good profit is never a bad move,so I did it.
Nothing beats physical,but nothing.
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08/04/11, 02:19 PM
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Join Date: Feb 2004
Location: So Cal Mtns
Posts: 11,301
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Whats really amazing is NY knocked the stuffing out of silver before the close,a frequent occurance out of them.
Also amazing is the miners down 5-10% TODAY,when this slide stops,as in 2008 miners will will be a steal for the 401k/IRA.In 2008 miners exceeded the Dow decline and roared back....if this replays big bucks can be made in those retirement accts again!Thats where my miners money I pulled to the side a few months back is going coming forward,I was wondering what to do with it,answer is being dropped right into my lap.
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08/04/11, 02:25 PM
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Join Date: Oct 2004
Location: Ohio
Posts: 4,322
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PMs will drop a bit to level off. We need to get the dollar up some. Some folks in Washington signed some kind of agreement that, once again; nobody understands. What drama. That by itself is reason enough to get the dollar up.
PMs need to be held by the person who owns them. Anything else is just too risky. Our nation is being run (into the ground) by a bunch of bandits. If they can find any asset, on line; they will eventually take control of it. They are not shy.
If you can't hold it in your hand, or touch it; most likely you don't own it. You may think you do, but you have been lied to. 
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