Do not obey your television- Buying Gold

Gold is down to $1220 this morning, so there is a slight chance I might actually know what I'm doing.
I'm still going to hold off on buying back in.

 

They're selling gold at spot over on apmex for 1 ounce bars. Guess they're trying to off load as much as possible before the price drops any further.

Sell at 1,300 buy at 1,215(with no spot), that's tempting but I'm greedy and want more. My goal is to get at least another ounce when I buy back. Not quite there yet.

 

Kind of wish I would have bought back in at $1,215 with no spot.
I guess I have to moderate my lust for gold and temper my greed.

 

Lear capital is running adds saying "buy silver now", "it could go to $200 an ounce".

If you think silver is going to $200 an ounce with in our life time I have a much better investment. How would you like to own a bridge?

My belief is silver is kind of high, but is coming down.
Anything under $17 an ounce is my buy trigger. I never thought 16 to 17 dollar silver would be a "good buy".
I have the money from cashing in my gold, I want to buy gold but I won't pass up cashing in some gold money for silver at a good price.
I figure it's only fiat currency, I can always get more.

 

While silver prices have been down since last week I have not seen a single "buy silver now advertisement".

When you see buy silver now ads, make like a dealer and sell, take advantage of the suckers.

 

I think you might be making a mistake trying to time prices of gold/silver, unless they go ridiculously low and you load the truck.

G/S is true money....something to be saved and spent as a last resort when all your fiat is gone and you really really really need to buy something. I've been buying and saving for over 20 years now as I could afford it. Most recent was a large purchase of silver eagles because I sold some land and didn't want the proceeds to languish in a bank account, subject to 'bail-in', or other tricks they have in mind. Bear in mind once in a bank account, you lent it to them, AND become an unsecured creditor.

I KNOW where my metals are at night.....

 

Metals ,Heart, Toys Etc.
It takes a long time , Buy buying @ spot is not to worry, Not buy and see it go nuts is worse , You only loose if you sell below the buy,
Last buy I was screwed @ Too much , but I haven't lost till I sell.

Just another way of thinking /
Sloth

 

Yeah I sold the gold high and went a little crazy buying silver, gold and a little platinum when it went low.

I juat try to just leave a month or 2 of operating expenses in the bank.

I spent so much they put a 5 day freeze on my PayPal and my checking account got a hold put on it. So then I paid cash for bank checks and snail mailed them.
I'm a little cross that they stopped me from spending my own money.

 

Yeah, common sense would dictate it IS your money. You put it in a bank for 'safe keeping'....because you simply can't protect it outside their institution.

Banking laws say different, and if they want to put a 5, or 10, or 30 day (or never) hold on allowing you to use the money you have lent them, they have the legal right to do so....this seems so contrary to common sense that most folks never give it a thought...."MY money is in MY account"......ahahaaaa....no, it isn't.

Until people come to understand this, and remove as much of their funds as possible, the banksters will continue to win.

 

I put the money in and let pay checks accumulate the bank to make money more readily useable.
It's good for small orders. Not so good if you want to make a few large purchases.
Cash is really only good for in person purchases, good for pretty much everything I need, not so good for things I may want that aren't found in these parts of the country.

Next time I will plan to use certified bank check that I may have to pay cash for and credit card. I'm not going to dick with PayPal or debit transactions since that's where the bottle neck seems to be.

 

The price of gold is up high enough where you should change your 401k over to gold, but not physical gold but gold notes.
LoL.
No seriously don't do it until the price goes down and don't buy fiat gold notes.
Buy actual gold bars...

 

Gold is up to 1,307 today.
So what ever you do don't buy. I haven't had time to watch TV much lately but I'm sure the net works are blowing up with "buy gold now" advertising.
My sell trigger this time is anything above $1,325.

Also to my surprise last time I learned that apmex will pay $100 over spot for certain gold bars like 1 ounce pamp suisse lady Fortuna.
The thing is they will buy them and sell them at a loss just so you don't order from the other guys. I guess they want people to remember them when they pannic buy gold and it shoots up to 1,500 to 1,800 again.

Bottom line, if I'm sell'in, you shouldn't be buy'in.

 

Well, well well my selling threshold of 1,325 has been reached. I'm only selling about 6ozt this time.
Now just have to see how high it goes.
Britex has gold up to around 1,350 but I was in Afghanistan at that time and couldn't do anything about it.

Each time I flip my gold for cash and back to gold I'm coming out ahead with the difference being about a 20g bar. So if I can do this twice a year I'm doing pretty well.

You really shouldn't be buying gold right now.

 

I eagerly await the international market openings monday morning since gold is already at over 1,330 an ounce in futures trading.

What ever you do, do not buy gold now.
I'm sure every network is blowing up with advertisements saying "buy gold now, it could go to $5,000 an ounce".

Only 1 or 2 things could make gold approach 3,000 an ounce.
1 the US would have to announce re-adoption of the gold standard, next to impossible.
2 world wide abandonedment of the US dollar as a reserve currency, which will happen at some point, with in the next 10 to 50 years.

 

They are going crazy this week with "buy gold now" and "change your 401k to gold now" ads now that gold is staying above $1,300.

Changing your 401k to phyical gold and silver is a good idea, but not when metal prices are near 1 year highs.
Why not buy in at a 1 year low and get 10% more of the shinny stuff?

 

Even the local (Amarillo) station has the local Amarillo gold and silver with storage options place advertising to buy gold now and store there.
So do not buy gold and silver right now.

 

Silver dropped below 16 for the first time in a while. Putting it at about a 6 month low.
This makes me mildly interested in buying.
I have enough now to where I'm really holding out for 1 to 3 year lows to buy.

Gold is down about $100 off its fall high. At $1250 I have no interest in buying or selling. Just holding on to it.

 

By PM now adds are running again, so you know what that means.

 

I'm seeing advertising saying buy silver now "because the price is low and could go up soon".
Yes yes that's partially true, silver prices are kind of low, down nearly $2 an ounce off year highs, my belief is it will go down further before it goes back up.
I think the price is going to go down more and they are starting to get scared that they are going to lose money on silver they horded so the sell off may be on soon.
Look for very low spot fee special sales.
This happened last time silver got down near $16 an ounce, there were 40 cents over spot sales.
I like when the dealers panic, this is what I wait for, it happens every year or 2 with silver and or gold.
But I'm bearish on PM, I want it to go down so I can buy more.

 

Still seeing a lot of buy gold now ads, with gold hovering kind of near a 3 or 4 year high. If you look at gold over the past 4 years it has hardly spent any time above $1,300 an ounce. That means don't pay more than $1,300 an ounce total, unless you want to lose money or don't mind being underwater on your gold for the foreseeable future.

But,,,,, silver is slowly inching towards a 1 year low.
I say prepare to buy silver sometime in the next 4 months.