Here we go, gold is crashing................
 

How far down it goes nobody knows.

http://www.kitco.com/charts/livegold.html

here comes the pain!

Choke her, Choker.

LOLZ!!!!!!!!!!! Will even be more funny to see the faces of people who got shook out once the price goes back through the roof. This is why I sold almost everything months ago when it was around $1640. I figured there would be massive manipulation to crash the price once it got near $2k. Better for me to buy put options because I think we have a stock market sell off around the corner. (like right around the corner). If you have been wanting to get into the metals market THIS IS GOING TO BE A SCREAMING BUY. Of course I could be wrong so do not take my advice since I usually just talk out my ass with nothing to back it up. Plus take into account I hold a very small amount of metals at this point.

Don't sell yet. Wait until about 15 1/4 and buy pork bellies

http://images3.static-bluray.com/reviews/24_1.jpg

That was a great movie!

bitcoins are better than gold :) you know they will drop :)

Oh BTW, the "Anonymous" hacker group is just another false flag/psy op. You are welcome!

Very few people are willing to sell right now. Ones that are want way above spot.

Yep, the physical market is way out of whack compared to the paper market. There is no doubt about that.

Very very true. Dealer of mine picked up a bunch of half ounce proof coins this morning for 850 each. Called me and offered them to me for 875 each. But from the time he bought them till he called me gold had dropped like 60 bucks. In my opinion they are worth 10% at most above spot. But he will get 900 for them easy at his shop. From what I can see nobody is selling for less than 15 or 10% above spot, if you can find anyone willing to sell that is.

hah ... good that i sold mine at a good price :B at least i got some serious cash for some nuggets that i got over ther years for FREE (lol, way back when i was still celebrating b-days and such crap; gotta love those shiny gifts) ;)

I sell @ apx 98% of spot...... still make great money , never hold onto any, for more that 30 days:2 cents::thumbsup

Did you think it would go up forver? Gold like housing a few years ago is overvalued. It's just like the idiots that bought gold at $800 in 1980 right before the crash. They still lost money even when gold was worth $1900.

Why would you trade physical and not the paper GLD? Because of the spot overs and unders, you lost probably 10% trading physical than just trading the stock.

Physical sells for more than paper. IE Krugs sell for $50 to $65 above spot all day long. US double eagles $75 to $100 above spot. Even gold rounds sell for $50 above spot. It's crazy. Actually holding the gold has it's own real value.

http://images.mylot.com/userImages/i...s/2471476.jpeg
Who has gold?

Yes, I know physical sells more than paper, but it's % move is exactly the same with the stock. If physical goes down 5%, so will GLD go down 5%. Sometimes it might be +-.5%, but it's close. When you sell GLD though, you don't have to pay for the physical premiums. If you're going to trade, it doesn't make sense to trade physical.

Say the spot price is $1600, but you pay $75 over spot for physical, $1675. You end up paying 5% more. Then say you sell at $1725 spot price, you give up 2% ($34.5) to Apmex and actually sell it for $1690.50. You make a whopping $15.50 on a $125 price move! You could have just bought 10 shares of GLD at $160 and sold at $172.5 and made $125, 87% more!

You're right, physical itself is the value. The paper is worthless except for trading to buy more physical. Buy and hold until the dollar and the Euro go to shit.

I'd buy a house someplace nice on a beach or lake. If everything goes to shit, at least you have a nice place to be broke while you garden and fish.

The crop report. You guys are my age lol.

Yes but paper has fees too man. I've done the math many times from Kitco. If you know of a place that sells cheaper paper spill the beans please. LOL

was listening to Andrew Horowitz, said if Euro banks need to be liquid there will be Gold dump happening. If hedge funds need to unload assets as per whatever rules and whatever they have just like in 08 when they were rushing to sell assets will be the same thing with gold.

Silver is also down

Just like with paper money, gold is considered great only because of perceptive trust in it

My understanding is that in the old days the old colonies printed their own money and used it to finance whatever they needed. The bankers didn't like not getting a share of the pie so the gold standard was invented that way they can be in control of the money supply

I buy off the street, CASH FOR GOLD :winkwink: and will keep it that way, dont trust the paper, someone else is manipulating:2 cents:

Same here. Found a dealer today that will sell me 90% junk right at spot. I picked up $10k today from him.

Absolutely nothing wrong with the junk, as a matter of fact, you can buy it cheaper than the intact pieces. When it all boils down to it, it's all Gold and profit :2 cents::thumbsup

rip gold ............................

I paid $21.50 face, kitco is $22 face plus $300 for shipping and insurance, I think I got a great deal. No damaged shit, it's all in good shape.

if you guys are buying enough...maybe it makes sense to melt down those gold chains etc?
http://www.mellencompany.com/Product...20Crucible.htm
these are about 650 bucks.
i think you get more for bars then you do for loose gold and silver?

Time to buy, guys. Once the stimulus bubble bursts and he euro zone disbands and china decouples from the USD, I wouldn't be surprised at Gold @ 2200 to 3000

No joke!

Yeah always more for bars. Also bars with IE Royal Canadian Mint marked on them are worth more than some unknown smelter. US and Canadian .999 coins are the safest and easiest to resell.

Lol, all this technical bs. Does anyone really know what they're doing or just believe they do? Take your money and invest it in motivated people with great ideas who don't have the cash to do anything. Hell you might make a new career out of it. I'd rather lose 10 grand trying something new with someone that might take off and learning from the process than possibly make a couple grand tying money up in metals.

But that's just me lol, carry on with your speculations.

just a small correction, soon it will go UP UP UP to 3000 per ounce.

I do buy a hand full of Silver coins each month, can't afford Gold :(

The people who get hurt here will be the same stupid fucks who got hurt on property.

Most people buy at the height of the market, and they get fucked.

I watched a short doc a couple weeks ago about Parisians who were cashing in all their investments and lining up to buy gold. They gonna feel some serious pain.

That's what has been happening for the last 2 weeks. Major banks and funds that are in need of cash...

Let it drop to a reasonable rate and then grab more. It will climb again.

Yep I agree. All coin dealers will verify that people sell when metals are low and buy when they are high. It's amazing. As long as silver is below 32 I will buy all I can find as long as I can get it really really close to spot. Silver did hit a high of what $48. Gold, I will not touch unless it drops to 1500.

Thats what the negative people say since gold is higher as 500 dollars.
While in reality the people who have put their money in a savings account are the real loosers.
They may get 2% interest per year while the inflation is 15% per year.

Gold and Silver are being bought up by they whole world these days not just the Western world.

Broad sell off in stocks next week? Looks like it. Fun fun fun!