Metals Down! [sale]

[Hi Ho Silver]

so now that 30.40 was reached and has since popped up into the 30,75 area do you feel like we will see below 30.40 in the short term?

[Silver Art]

It is certainly possible that it could go below $30.40. It would not surprise me to see a retest of the $26.00 support level in the very near future. If silver goes below $30 ($28 or lower), then there is that possibility that it will be harder to find physical at the LCS. We will have to see what happens.

[REO 54]

...so will silver break below 30 this week??

[97guns]

no, its only broken down below $30 1 time in the past 7 months, its broken out of $35 1 time also, other than those 2 breakdowns its been in tightly rangebound.

[Tinbox]

wow look at oil, its sure taking a dive, in the 96's now.....

[Tinbox]

in the 95's wow

[southfork]

I expect equity markets to tank based on the unfavorable election results, should be interesting week for metals and the markets.

[REO 54]

Silver breaking through under 30.....Gold under 1640..........keep that powder dry!!

[newmisty]

. . . . .

[prophet]

Silver breaking through under 30.....Gold under 1640..........keep that powder dry!!

Powder's so dry it coulkd IGNITE!

[hammerhead]

. . . . .

Sweet. Is that one of a kind?

[hammerhead]

Gonna put myself out there and call Gold in the 1500s, Silver hitting 27 or less. 2 to 4 weeks, tops. Can't give any anylitical reason, charts or graphs. Nothing makes sense anyways. Just gut feeling.
No matter what, tis a good time to buy.
Off to work. Have a great day everyone.

[Tinbox]

Gonna put myself out there and call Gold in the 1500s, Silver hitting 27 or less. 2 to 4 weeks, tops. Can't give any anylitical reason, charts or graphs. Nothing makes sense anyways. Just gut feeling.
No matter what, tis a good time to buy.
Off to work. Have a great day everyone.

i agree, looks like silver will test 26 at least.......

[REO 54]

Yeah,d-lod and others have been calling this one over on the "silver correction thread"

Interesting to note that e-slay prices don't seem to following the downward trend....wacky

[bemac]

This keeps up, Benny Bernank's gonna get a call from Barack.

[GOLD DUCK]

QWAK,It seems to me that even IF SILVER goes to $28.00 or lower it will be like a fiew years back when the price was down BUT there was no PHYSICAL out there for sale!

Yea it would be great to BACK UP the TRUCK -- HELL YES but when you do back up the truck the singn in the window says "CLOSED for INVITORY!"

the DUCK

[Aurumag]

Gonna put myself out there and call Gold in the 1500s, Silver hitting 27 or less. 2 to 4 weeks, tops. Can't give any anylitical reason, charts or graphs. Nothing makes sense anyways. Just gut feeling.
No matter what, tis a good time to buy.
...

Why do you think Charlie Munger was railing against gold hoarders as "uncivilized?"

The paper pimps and whores are scared sh**tless that the common man will abandon stocks in favor of PMs.

Thus, the smack down to flush out the weak, and concurrently enable those holding FRNs, like China, to exchange those FRNs for Au and Ag at a discount.

I believe this downward manipulation will continue for the next few months, and that we should take every advantage of the opportunity.

Tune up the truck, check the tires, and adjust the mirrors, because it is almost time to load up!

[Chester-Copperpot]

QWAK,It seeme to me that even IF SILVER goes to $28.00 or lower it will be like a fiew years back when the price was down BUT there was no PHYSICAL out there for sale!

Yea it would be great to BACK UP the TRUCK -- HELL YES but when you do back up the truck the singn in the window says "CLOSED for INVITORY!"

the DUCK

I had no problem finding PHYSICAL, when it was $28. Always paid the same, $2 over at the LCS, and about $1.50 over online.

[GOLD DUCK]

I had no problem finding PHYSICAL, when it was $28. Always paid the same, $2 over at the LCS, and about $1.50 over online.

QWAK,superjoe,I don't remember the price but one summer a fiew years back that was a hot topic here at GIM!

When the price droped suddenly and hard a lot of dealers only had odds and ends to sell, IF they had any SILVER at all.

We all knew it was just the PAPER SILVER price and DIVERGENCE was in the AIR like what happens befor a BIG STORM is coming but that storm passed and when over it was like back to business as usual and some said "SEE no big deal!" but it was REAL and it shure seemed like any day JP Morgan with there massive shorts could or would IMPLODE!

the DUCK

[Aurumag]

QWAK, superjoe,I don't remember the price but one summer a few years back that was a hot topic here at GIM!

When the price dropped suddenly and hard a lot of dealers only had odds and ends to sell, IF they had any SILVER at all. ...

No one in their right mind wants to sell when the price is down, and thus the "shortage."

The big players like APMEX and Tulving are usually ready to sell physical at any price.

It will be very interesting to see if a metal/paper divergence occurs this time around...

Bring on the $25 Ag!

[hammerhead]

QWAK,superjoe,I don't remember the price but one summer a fiew years back that was a hot topic here at GIM!

When the price droped suddenly and hard a lot of dealers only had odds and ends to sell, IF they had any SILVER at all.

the DUCK

You guys should have seen the look on my dealers face when I asked to buy at the drop price. Had $1000.00 in hand. I thought I was gonna cash in big. He did sell me 25 ozt of Engelhards for that. Called me later in the day and said he made a mistake and gave me $100.00 back. We have a good relationship. I do work for him at a reduced rate.
He also talked me into scraping my Sterling the week before. Thats were I got the grand. Poor guy had just bought 50 ASE that weekend too. He has been unloading all that over time.
Scrapers don't make much from sales I learned. All depends on the volume. They can get burned bad if they are holding when the drops come.

[hammerhead]

I had no problem finding PHYSICAL, when it was $28. Always paid the same, $2 over at the LCS, and about $1.50 over online.

Wheres you buying Joe???????

[Dude]

Comma, comma down dooby doo down down.

[hammerhead]

Yeah,d-lod and others have been calling this one over on the "silver correction thread"

Interesting to note that e-slay prices don't seem to following the downward trend....wacky

Those take about a week to adjust. Haven't seen any good deals on there in a long time. Not that I am looking hard now, but they were more to be had.

[hammerhead]

Gotta e-mail from APMEX at 1:30 offering Maple Leafs 49.99 over spot.

[Chester-Copperpot]

Wheres you buying Joe???????

Local coin/jewelery shop in MI. He usually always sells to me at $1.50 over spot, and junk at spot. I'm heading over there today, so I'll post when I get back. Last time we got a drop, I had no trouble buying at $2 over. Didn't know the shop at the time, but Irons refers to him as "Crabby Al". I asked how much over spot his rounds were, he his reply "Two dollars over. always two dollars over"

I'm not disputing, there might have been a shortage. I just didn't see it myself.

[Dude]

Provident has 100 generic rounds for $3009

[Irons]

Local coin/jewelery shop in MI. He usually always sells to me at $1.50 over spot, and junk at spot. I'm heading over there today, so I'll post when I get back. Last time we got a drop, I had no trouble buying at $2 over. Didn't know the shop at the time, but Irons refers to him as "Crabby Al". I asked how much over spot his rounds were, he his reply "Two dollars over. always two dollars over"

I'm not disputing, there might have been a shortage. I just didn't see it myself.

Tell crabby Al I said HI! Joe there is a new guy on Baldwin St. in Jenison named Doug Start, start coin collecting.
1-616-283-2527

He has been getting me a steady stream of gold 20 franc, Sovereigns and gold pesos for great prices.

Crabby Al and Deimer probably wonder WTF I've been.

[Chester-Copperpot]

Tell crabby Al I said HI! Joe there is a new guy on Baldwin St. in Jenison named Doug Start, start coin collecting.
1-616-283-2527

He has been getting me a steady stream of gold 20 franc, Sovereigns and gold pesos for great prices.

Crabby Al and Deimer probably wonder WTF I've been.

Not bought from Al since about January. Found a shop in Grand Haven, that sells at a good price. J.Morgan, in downtown Grand Haven. Little out the way for me, but have bought a few times. Junk was a tiny bit under spot, and he sold me a full Sovereign, and 1/10 Eagle, at $5 over melt.
I usually give them a phone before I go, sometimes they don't have anything.

Will need to check the guy in Jenison out, cant ever get enough good sources.

[Irons]

Not bought from Al since about January. Found a shop in Grand Haven, that sells at a good price. J.Morgan, in downtown Grand Haven. Little out the way for me, but have bought a few times. Junk was a tiny bit under spot, and he sold me a full Sovereign, and 1/10 Eagle, at $5 over melt.
I usually give them a phone before I go, sometimes they don't have anything.

Will need to check the guy in Jenison out, cant ever get enough good sources.

For sure, I went like 8 months without being able to find any British gold in GR. I went back to ebay at that point.

The little shop I used to hit in Ludington is now gone. Bummer.
A new seller in a different area seems to open up new sources of goodies.

[Spike]

Yep....I think it's time to sell all my PMs..


Wall Street Fraud Watchdog Warns All Investors About the US Stock Market, the US Real Estate Market a Potentially Nuclear Iran & the Ugliest US Presidential Election Ever

Monday, May 7, 2012


The Wall Street Fraud Watchdog is in the investor due diligence business and while robust sales of iPhones or the looming IPO of Facebook are really exciting events, the group is warning iPhone sales and or Facebook going public will not turn around the US economy. The group says, "We are now advising US investors to get out of this stock market, and get into something inflation proof, because if the US stands by, and Iran gets a nuke, oil prices are going sky high, and the very fragile US economy is going to go off a cliff. Adding fuel to our concerns is a US Presidential election, that we fear is going to be the ugliest ever. Class warfare is not a very good idea, it fails to address the need for the US to balance its budget, and demonstrates an inability to lead. Our biggest concern is how much damage has President Obama done by being a no show for the US economy, or vital global issues like Iran getting a nuke, because he is in Ohio promising college students he is on their side when it comes to student loans?" The Wall Street Fraud Watchdog is reaffirming their guidance they made about the US residential real estate markets in 2012. Because there are millions of pending US home foreclosures the group expects an additional 10% devaluation of US residential real estate values in 2012. http://WallStreetFraudWatchdog.Com

(PRWEB) May 07, 2012

The Wall Street Fraud Watchdog is warning all investors to be prepared for the unexpected given so many grave issues facing the US, Europe, the Middle East, and the world. At the center of the group's fear is what Iran with a nuclear weapon means not just to Israel, or Saudi Arabia, but to the entire world. Since 2008 the group has been warning that if Iran gets a nuclear weapon, oil prices go through the roof, and the world could have an economic depression, and hyperinflation.

Adding to the group's concerns is the fact that, according to Wall Street Fraud Watchdog, the current President of the United States appears to be more preoccupied with himself, campaign fundraising events, or appearances, than actually providing real leadership in the light of the fact that the US national debt is closing in on $16 trillion dollars, and the real US unemployment rate of 12%+ is unacceptably high.

The Wall Street Fraud Watchdog says, "We do not see anything looking out until election day in the US that gives us any sense of optimism. Why would you buy a house right now, if it will be worth 10% less by the end of the year? Why would anyone want to grow their small business, when President Obama has called upon higher taxes for successful small business people? We say sit this one out, until we get a sense of direction, and meaningful leadership."

The Wall Street Fraud Watchdog says, "According to the Daily Mail on April 29th 2012, Barack Obama has already held more re-election fundraising events than every elected president since Richard Nixon combined, and Obama is also the only president in the past 35 years to visit every electoral battleground state in his first year of office." http://WallStreetFraudWatchdog.Com




Read more: http://www.sfgate.com/cgi-bin/articl...#ixzz1uJfsewuX

[REO 54]

....well this continues into overnight trading....I think this trend is building for a bit. At least we got some action. 27 by friday??

[Silver Art]

....well this continues into overnight trading....I think this trend is building for a bit. At least we got some action. 27 by friday??

It appears that silver is retesting the $26.00 support level and if spot silver continues to go down far enough, then it is also very possible by this Friday (May 11) to see $26.00. It will also be very interesting to see whether or not it can hold that support level and bounce off that level.

[bemac]

Let's step back and look at the bigger picture. PM's aren't the only things in free fall, the whole market is. Oil is back down to $96 and change, the Dow below $13,000 again. The dollar index is now over 80. Paul Krugman is sitting back in his chair right now with a smug "I told ya so" look on his face, and Benny Bernanke doesn't like it (Krugman has been up his ass lately saying "print more, dude"). Investors are quite fearful right now, heck they're scared chitless. And they're stupid, obviously, they're running for dollars. Things could get ugly. But don't sell your stuff, that's the worst thing you could do. The uglier things get, the bigger the odds Benny gonna take Krugman's advice. And he'll go in big, real big I think, like "fire up the chopper" big.

[REO 54]

Let's step back and look at the bigger picture. PM's aren't the only things in free fall, the whole market is. Oil is back down to $96 and change, the Dow below $13,000 again. The dollar index is now over 80. Paul Krugman is sitting back in his chair right now with a smug "I told ya so" look on his face, and Benny Bernanke doesn't like it (Krugman has been up his ass lately saying "print more, dude"). Investors are quite fearful right now, heck they're scared chitless. And they're stupid, obviously, they're running for dollars. Things could get ugly. But don't sell your stuff, that's the worst thing you could do. The uglier things get, the bigger the odds Benny gonna take Krugman's advice. And he'll go in big, real big I think, like "fire up the chopper" big.

....indeed,getting ready to fire up the ole' QE3 machine...

[Dude]

Comma, comma down dooby doo down down.

I'm still singin' it this morning...and waiting.

[newmisty]

Sweet. Is that one of a kind?

I am unsure about that.

[shades]

Yeah,d-lod and others have been calling this one over on the "silver correction thread"

Interesting to note that e-slay prices don't seem to following the downward trend....wacky

They are now, some people are just not up with the latest prices.

[shades]

Silver to test low 20's. I call around 21-22. Hold on to your hats.

Then again, it's unfair to value something of real value in worthless fiat. So if things get
really bad and we get hyperinflation, well it could be worth a lot more further down the track.

[Argentsum]

Looks like Euroland is experiencing some structural issues with Spanish bonds rising over 6%

Looks like a basic flight to safety (U.S. Dollar). While I think this safety is dubious, nobody asked
for my opinion. Dollar is going up in strength sooooo...PMs take the hit.

That's okay by me, I've got some dry powder and a book of matches.

If the Euro ever does go down for the dirt nap I'd expect at least a 30% drop in PMs.

[REO 54]

......metals down and still e-slay premiums are tall.No change for weeks really. I did better at my LCS.

[TimoneX]

Yeah, I prefer to support the local LCS guy over fleabay/paypal.

[REO 54]

Yeah, I prefer to support the local LCS guy over fleabay/paypal.

I scored some silver Libertads.Onza's and Britannias at 2 over spot. On Eslay the go for 10,20 even 30 somtimes over spot. Maybe I'll wait when
silver rises a bit and sell some on Flea bay for those tall premiums....then re-invest the $$ into the metal kitty like Maples or ASE [gold]

[REO 54]

Ok here we go! Any guesses were it will be after the Bernanke speaks?? Buying opprotunity!!

[Ragnarok]

Yeah, I prefer to support the local LCS guy over fleabay/paypal.

Me too - 'cept my LCS has been closed since Thursday of last week!

Maybe we'll even get a good ol' seasonal ROUT in paper metal going into July that will make physical purchases worthwhile, assuming premiums don't rise to compensate.

R.

[REO 54]

Me too - 'cept my LCS has been closed since Thursday of last week!

Maybe we'll even get a good ol' seasonal ROUT in paper metal going into July that will make physical purchases worthwhile, assuming premiums don't rise to compensate.

R.

Thats harsh.I feel lucky I suppose.Picked up Maples @ 31.70 at LCS last Saturday.

No other LSC for you within resonable distance for Rangaok?

[Silver Art]

The silver sale is getting extended into tonight and might possibly continue into tomorrow. It's probably going to test $26 again. Whether silver will hold $26 remains to be seen. Anything is possible. This is just a WAG on my part since I really do not know. Either way it does not matter to me.

[Silver Art]

......metals down and still e-slay premiums are tall.No change for weeks really. I did better at my LCS.

Ebay premiums are very slow to move downward when spot is going down. It also depends on the type of silver that is on auction on ebay.

[Silver Art]

Yeah, I prefer to support the local LCS guy over fleabay/paypal.

For me, it depends on what I am looking for. Most of the time, I like buying silver art bars at the various LCS in my area, at coin shows, and at flea markets. I have bought on ebay in the past and will continue to buy on ebay in the future to find what I am looking for but I am very picky on what I buy and what price that I am willing to pay for it. Generally speaking, it is cheaper to buy at the LCS as opposed to buying ebay when it comes to PM's. The exception to this rule is when some people are excellent "ebay snaggers" and can buy PM's for melt price or less.

[Ragnarok]

No other LCS for you within reasonable distance Ragnarok?

There's another LCS across town that I rarely use, not familiar enough with them (yet).
The one I like to use is probably just on vacation. But as the metals keep coming down, I can choose to look at it this way: he is actually doing me a favor by making me wait!

R.