Will Gold 'Bubble' Burst?
June 20th, 2013 at 3:01:00 PM
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When the last weak hand is out of gold that will be the bottom.......retail gold bugs takin' an ass whipping
Each day is better than the next
June 20th, 2013 at 5:39:41 PM
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Fear is driving a lot of markets now. I expect gold to go lower. At some point at least a modest position will be worth taking, if your crystal ball says inflation is around the corner. I'd hate to say where that is, but for myself I'll be taking a very modest position in the etf GLD if I am right about a further drop.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
June 20th, 2013 at 8:00:59 PM
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Is it possible to buy gold sales-tax free without going to a sales-tax free state? Mail order perhaps? I see the price is currently at $1292. If it gets to $1200 I think I'll buy some.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
June 20th, 2013 at 8:43:27 PM
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In California there is no sales tax on gold purchases above $1,500 because they are considered to be "investments" as opposed to a retail sale.
From the California Numismatics Investment Company website:
"11.Sales over $1500 within California are not subject to state sales tax, and neither is any product mailed out of state."
See: http://www.golddealer.com/questions_and_answers.html
I beleive that is the current law.
From the California Numismatics Investment Company website:
"11.Sales over $1500 within California are not subject to state sales tax, and neither is any product mailed out of state."
See: http://www.golddealer.com/questions_and_answers.html
I beleive that is the current law.
June 20th, 2013 at 8:46:05 PM
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Quote: AlanMendelsonIn California there is no sales tax on gold purchases above $1,500 because they are considered to be "investments" as opposed to a retail sale.
From the California Numismatics Investment Company website:
"11.Sales over $1500 within California are not subject to state sales tax, and neither is any product mailed out of state."
.
So drive to Calif and buy it. I don't get the mailed out of state part.
"It's not called gambling if the math is on your side."
June 20th, 2013 at 10:32:48 PM
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I think you can call them up, give them a credit card, and they mail it to you.
June 21st, 2013 at 3:36:24 AM
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geez, the weight must kill you when you pay the freight.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
June 21st, 2013 at 12:57:50 PM
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Quote: odiousgambitgeez, the weight must kill you when you pay the freight.
lol, even at $1,200 an ounce, it ain't gonna kill anybody.
Now insurance, if you want it, that could get pricy.
$1,500 is considered an investment? I thought people in California were ballers? I got more than that around my neck right now, and it is not an investment, and I live in OHIO!!
Statistics don't lie, they deceive.
June 21st, 2013 at 1:07:06 PM
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Quote: Maverick17lol, even at $1,200 an ounce, it ain't gonna kill anybody.
!
Sure it is. Read the article posted earlier, at 1200 its
no longer profitable to mine it on a large scale. Thats
a huge industry that will be dead in the water.
"It's not called gambling if the math is on your side."
June 21st, 2013 at 2:22:36 PM
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Quote: AlanMendelsonIn California there is no sales tax on gold purchases above $1,500 because they are considered to be "investments" as opposed to a retail sale.
Can anybody recommend a dealer who sells ordinary gold coins in the Long Beach/Orange County area?
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
June 21st, 2013 at 3:22:56 PM
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Quote: EvenBobSure it is. Read the article posted earlier,
Read my post.
I suppose one doesn't get to 10.8k posts by reading what he is responding to though, afterall, who's got the time?
Statistics don't lie, they deceive.
June 21st, 2013 at 3:31:33 PM
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Quote: Maverick17Read my post.
I suppose one doesn't get to 10.8k posts by reading what he is responding to though, afterall, who's got the time?
Blocked. Who's got the time. BuhBye..
"It's not called gambling if the math is on your side."
June 21st, 2013 at 3:51:54 PM
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Quote: EvenBobBlocked. Who's got the time. BuhBye..
And that's how you get to 10.8k posts, kids.
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
June 21st, 2013 at 4:12:05 PM
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Quote: thecesspitAnd that's how you get to 10.8k posts, kids.
Brevity is the heart of successful posting..
"It's not called gambling if the math is on your side."
June 21st, 2013 at 7:16:25 PM
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Quote: WizardIs it possible to buy gold sales-tax free without going to a sales-tax free state? Mail order perhaps? I see the price is currently at $1292. If it gets to $1200 I think I'll buy some.
Be careful Wiz, I know a guy who got burned thinking the Las Vegas real estate market had hit bottom !
Shed not for her
the bitter tear
Nor give the heart
to vain regret
Tis but the casket
that lies here,
The gem that filled it
Sparkles yet
June 22nd, 2013 at 6:07:18 AM
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Quote: BuzzardBe careful Wiz, I know a guy who got burned thinking the Las Vegas real estate market had hit bottom !
Well, if gold goes below the cost it takes to mine the mineral, there is a bottom. If some mines shut down, it is likely that the publicity will cause gold price to at least stabilize.
June 22nd, 2013 at 7:34:10 AM
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Quote: BuzzardBe careful Wiz, I know a guy who got burned thinking the Las Vegas real estate market had hit bottom !
Ouch!
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
June 22nd, 2013 at 8:12:26 AM
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Quote: WizardCan anybody recommend a dealer who sells ordinary gold coins in the Long Beach/Orange County area?
by "ordinary gold coins" I think you mean "bullion coins." I would stick with American Gold Eagles so there is no disputing what you have when you go to sell them later -- they are universally accepted.
The beauty of AGE's is that you can get a price over the phone and then compare what the "mailing" charge is going to be. I'll give you a few competitive dealers and feel free to mention my name (none is a current advertiser with me, but they all know me and I know them):
Peter Cabral Pro Coin, South Orange County (866) 472-8126
Jeff Butler Coins Plus, Newhall (661) 259-5734
Wilshire Coin, Santa Monica 800-463-4121
Ken Edwards California Numismatic Investments, Inglewood 800-225-7531
Simply phone them and see who has the best "delivered" price.
June 26th, 2013 at 9:32:54 AM
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Gold is down another 45.57 and continues to tank. Is it time?
June 26th, 2013 at 9:59:03 AM
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don't try to catch falling knife
Each day is better than the next
June 26th, 2013 at 10:06:12 AM
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Quote: treetopbuddydon't try to catch falling knife
Lol, I like that. But I'm definitely gonna try and catch it. If I cut my fingers off I'll still have one hand left. :)
June 26th, 2013 at 11:46:37 AM
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Gold and silver are in freefall today. Silver is especially
hard hit. Gold is looking to fall into the 1100's if this
keeps up.
hard hit. Gold is looking to fall into the 1100's if this
keeps up.
"It's not called gambling if the math is on your side."
June 26th, 2013 at 11:58:54 AM
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Quote: EvenBobGold and silver are in freefall today. Silver is especially
hard hit. Gold is looking to fall into the 1100's if this
keeps up.
I'm following EB do I jump in? 10-15k
June 26th, 2013 at 12:20:10 PM
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Its still going down. Gold is down almost $400 from where
it was just last Christmas. But the big news is silver is down
a whopping 35% in 6 months. It was $30 and everybody
thought the sky was the limit.
it was just last Christmas. But the big news is silver is down
a whopping 35% in 6 months. It was $30 and everybody
thought the sky was the limit.
"It's not called gambling if the math is on your side."
June 26th, 2013 at 12:30:31 PM
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Quote: EvenBobIts still going down. Gold is down almost $400 from where
it was just last Christmas. But the big news is silver is down
a whopping 35% in 6 months. It was $30 and everybody
thought the sky was the limit.
I'm still holding silver I didn't get out lol. luckily I only had 30 oz.
June 26th, 2013 at 1:19:23 PM
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Can't buy yet. I think it is still going to go down further.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
June 26th, 2013 at 1:25:08 PM
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Of course it impossible to predict future prices. Anybody that claims the know the direction of any market is full of s***. Price is truth.
Each day is better than the next
June 26th, 2013 at 1:38:00 PM
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Quote: WizardOuch!
Sorry about that, misery loves company. July 1979, Found out Josie's dad had terminal cancer. Put my house on market in Denver and moved back East. Sold the house 3 times. But by closing, buyers could not qualify any longer. Home mortgage rates were 18-19% in 1980, then I let someone just assume my loan. NO, the 18-19% is not a typo. Prime Rate hit 15 1/2 %. Could have been worse. Overtime was loose then and several gold bugs almost talked me into gold. As a long term investment LOL Wanted me to buy in cheap at $800.
It did hit 850 that year. If I had bought for $800, my investment would have almost doubled in a mere 33 years. Surely inflation has been flat since 1980, hasn't it.
Treetop is right . If you think you are sure which was gold is going, the futures market is your path to riches.
Shed not for her
the bitter tear
Nor give the heart
to vain regret
Tis but the casket
that lies here,
The gem that filled it
Sparkles yet
June 26th, 2013 at 2:32:50 PM
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Everytime I look its lower. Gold is down 4% and silver 5.25%. Stunning losses today. It will take years to get back where they were a year ago, if they ever do. This has devastated the average investors confidence.
"It's not called gambling if the math is on your side."
June 28th, 2013 at 12:19:25 PM
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back up $20 an oz! The fall is over
Statistics don't lie, they deceive.
June 28th, 2013 at 4:18:25 PM
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deleted
Last edited by: Tanko on Mar 9, 2016
June 28th, 2013 at 5:45:15 PM
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Quote: Maverick17back up $20 an oz! The fall is over
The price of gold topped $1,000 an ounce for the first time ever on March 13, 2008 amid recession fears in the United States. So it is currently back to the price it was three years ago.
July 1st, 2013 at 4:37:16 AM
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Quote: AlanMendelsonI'll give you a few competitive dealers and feel free to mention my name (none is a current advertiser with me, but they all know me and I know them)...
Thanks for the suggestions. I just got back to Vegas sans gold. It looks like I'll probably go with mail order.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
July 1st, 2013 at 4:44:07 AM
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Let me suggest this:
gold seems to have had some kind of support at about $1220 which is around the published cost of production.
I heard over the weekend that there was a lot of shorting of gold and at some point those shorts will have to deliver and they will have to buy back their contracts or physical gold. In either case the "bullish camp" says that will form a powerful reaction rally.
I don't know if that will happen but I am just throwing it out there. I did not include it yet on my own report ( http://alanbestbuys.com/id82.html ) because I haven't been able to veryify it nor have I seen any indication that gold will have a bounce back up.
gold seems to have had some kind of support at about $1220 which is around the published cost of production.
I heard over the weekend that there was a lot of shorting of gold and at some point those shorts will have to deliver and they will have to buy back their contracts or physical gold. In either case the "bullish camp" says that will form a powerful reaction rally.
I don't know if that will happen but I am just throwing it out there. I did not include it yet on my own report ( http://alanbestbuys.com/id82.html ) because I haven't been able to veryify it nor have I seen any indication that gold will have a bounce back up.
July 1st, 2013 at 7:10:07 AM
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St Barbara Limited an Australian company seems to operate Gold Ridge in Solomon Islands which has the highest capital cost of production. In theory they should have shut down a long time ago.
On 7 February 2013 an 8.0 magnitude earthquake was reported off the coast of the Santa Cruz Islands in the Solomon Islands, located several hundred kilometres east of the Company’s operations at Gold Ridge. The earthquake did not effect St Barbara’s operations at Gold Ridge
ts
Presumably the Solomon Islands location 1800 miles from Sydney, and contracts with the local government keep the prices high.
But they are still operating. So you wonder when does a mine shut down?
On 7 February 2013 an 8.0 magnitude earthquake was reported off the coast of the Santa Cruz Islands in the Solomon Islands, located several hundred kilometres east of the Company’s operations at Gold Ridge. The earthquake did not effect St Barbara’s operations at Gold Ridge
ts
Presumably the Solomon Islands location 1800 miles from Sydney, and contracts with the local government keep the prices high.
But they are still operating. So you wonder when does a mine shut down?
August 6th, 2013 at 5:42:50 PM
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1277 right now, its in freefall again. My friend is
making a mint shorting it, he's up $12K so far
this week.
making a mint shorting it, he's up $12K so far
this week.
"It's not called gambling if the math is on your side."
August 6th, 2013 at 6:32:51 PM
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Quote: EvenBob1277 right now, its in freefall again. My friend is
making a mint shorting it, he's up $12K so far
this week.
You friend is lucky.....nothing more nothing less.
Each day is better than the next
August 6th, 2013 at 8:38:04 PM
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I'm no expert on this stuff... but I've got to say there's almost no way that Gold ever goes, and stays, below 1000 dollars for any significant amount of time without complete turnarounds in global economics. If it does, then I'd expect production to stop and demand to rise causing it to go back above 1000.
I mean I'm no economics expert but it seems kinda basic to me. I own some small amount of silver, because I just can't see it ever going that low again. It's kind of a slight hedge for me, even though I've lost money on it I don't think it was ever going under 16-17 an ounce again for any relevant amount of time.
I mean I'm no economics expert but it seems kinda basic to me. I own some small amount of silver, because I just can't see it ever going that low again. It's kind of a slight hedge for me, even though I've lost money on it I don't think it was ever going under 16-17 an ounce again for any relevant amount of time.
August 6th, 2013 at 10:24:23 PM
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I love the 'heft' of gold and silver.....the clanging of the bars.
Each day is better than the next
August 8th, 2013 at 12:06:22 PM
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Quote: EvenBob1277 right now, its in freefall again. My friend is
making a mint shorting it, he's up $12K so far
this week.
Your friends balls are in a vise if he's still in trade.....
Each day is better than the next
August 27th, 2013 at 11:26:12 PM
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Central Banks are stop printing fiat currency. Federal Reserve will stop printing Federal Reserve Notes and will stop QE to infinity. Alchemist have figured out how to turn coal into gold.
The gold bubble is bursting. Get out of precious metal. I recommend Zimbabwe dollars.
http://www.youtube.com/watch?v=CHjjUZugFCE
The gold bubble is bursting. Get out of precious metal. I recommend Zimbabwe dollars.
http://www.youtube.com/watch?v=CHjjUZugFCE
Edward Snowden is not the criminal, the government is for violating the constitution!
August 28th, 2013 at 4:04:08 AM
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If done my research and ready to say that Gold will hit 5K and ounce by 2020.
There are several reasons.
Our debt may be inflated away. As the cost of basic needs rise it will be seen as inflation and people will continue to flock towards gold.
Because of the trillions of dollars being poured into the World's economy to dodge a bullet, the liquidity of the monetary system could cause a spike in Gold prices.
Where's the gold? There are banks and the bullion banks that support the monetary banks. It's been leased out and replaced by Gold certificates. Sooner or later, the physical gold in the private and public accounts will have to be replaced. Of course the scandal hasn't broke yet. Just give it time.
Why Silver? It's in short supply and will out perform Gold.
There are several reasons.
Our debt may be inflated away. As the cost of basic needs rise it will be seen as inflation and people will continue to flock towards gold.
Because of the trillions of dollars being poured into the World's economy to dodge a bullet, the liquidity of the monetary system could cause a spike in Gold prices.
Where's the gold? There are banks and the bullion banks that support the monetary banks. It's been leased out and replaced by Gold certificates. Sooner or later, the physical gold in the private and public accounts will have to be replaced. Of course the scandal hasn't broke yet. Just give it time.
Why Silver? It's in short supply and will out perform Gold.
Buffering...
August 28th, 2013 at 6:19:09 AM
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Currency debasement is immensely popular right now, and precious metals should benefit, although investors who benefit will NOT be immensely popular.
Short-term, I'm watching mining shares. In early trading Tuesday, the XAU (Philadelphia Gold & Silver stock Index) gained an additional 3%, but then reversed violently to finish with a loss approaching 5%, while the metals remained solid throughout the session. The XAU is now down about 35% year-to-date, versus only about a 15% loss for gold.
Short-term, I'm watching mining shares. In early trading Tuesday, the XAU (Philadelphia Gold & Silver stock Index) gained an additional 3%, but then reversed violently to finish with a loss approaching 5%, while the metals remained solid throughout the session. The XAU is now down about 35% year-to-date, versus only about a 15% loss for gold.
"Scientists tell us that the fastest animal on earth, with a top speed of 120 feet per second, is a cow that has been dropped out of a helicopter."
August 28th, 2013 at 8:00:29 AM
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Impossible to make money with metals, you can't defeat inflation, complete waste of time if one is controlling less than a million bucks.
December 19th, 2013 at 9:24:13 AM
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Bitcoins will probably replace gold......Ivan Toffler in his book Future Shock, predicted that metals would be viewed as stone axed primitive and money would be bits and bytes on a computer.
Gold futures dipped below 1200 in todays trading.
Supposedly no inflation out there.......
Gold futures dipped below 1200 in todays trading.
Supposedly no inflation out there.......
Each day is better than the next
December 19th, 2013 at 9:28:34 AM
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Quote: treetopbuddyGold futures dipped below 1200 in todays trading.
A 3% drop or so. We could really see a dramatic swoon. That might catch my attention as a buyer; up till now I couldnt get excited.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!” She is, after all, stone deaf. ... Arnold Snyder
December 19th, 2013 at 9:38:49 AM
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Quote: odiousgambitA 3% drop or so. We could really see a dramatic swoon. That might catch my attention as a buyer; up till now I couldnt get excited.
Believe it or not, gold is a thinly traded market and can/is manipulated. Big players push the gold prices around like a red headed step child.
Mining stocks have been crushed.
Be careful trying to bottom fish gold prices.....trend is still down.
Each day is better than the next
December 19th, 2013 at 9:42:29 AM
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WOW treetop and worberson are on totally different sides. I was thinking of buying both, Bitcoin's or some real gold. What to do, what to do? I am not necessarily looking something to go way up in value, I would be happy if what ever I bought just didn't go down in value
I see a lot of ways bitcoins would be useful. I just don't understand how or why Bitcoin's have value, other then the rarity. I don't get all this the mining bitcoin's. Dose mining them create something other then then some number? Bitcoins seem very risky. especially if the government cant find a way to get a piece of the pie. It seems the like the government will try to go after bitcoins if they can regulate and tax it. Can someone clue me into why my thinking is wring?
I see a lot of ways bitcoins would be useful. I just don't understand how or why Bitcoin's have value, other then the rarity. I don't get all this the mining bitcoin's. Dose mining them create something other then then some number? Bitcoins seem very risky. especially if the government cant find a way to get a piece of the pie. It seems the like the government will try to go after bitcoins if they can regulate and tax it. Can someone clue me into why my thinking is wring?
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
December 19th, 2013 at 10:37:35 AM
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People have been declaring gold obsolete and irrelevant for a hundred years or more. Maybe they'll be right eventually, but I don't intend to back that idea with my money.
Amazingly, that's an understatement.
Looking at the biggest producers, Goldcorp (GG) is down from 55 to 20 in two-and-a-half years.
Barrick (ABX) is down from over 50 to below 17 within the same time span. If you bought (and held) ABX 20 years ago, you've lost money.
Newmont (NEM) is down from about 65 to below 23 within the last three years, and the price is now below the level of a quarter-century ago.
And of course this is within the context of big stock market gains generally within the last couple of years.
If the precious metals sector is on your radar, you have to at least take notice of the current opportunity. Mining stocks were already enduring a horrible year, and now they're suffering additional losses possibly due to year-end tax selling.
Quote: treetopbuddyMining stocks have been crushed.
Amazingly, that's an understatement.
Looking at the biggest producers, Goldcorp (GG) is down from 55 to 20 in two-and-a-half years.
Barrick (ABX) is down from over 50 to below 17 within the same time span. If you bought (and held) ABX 20 years ago, you've lost money.
Newmont (NEM) is down from about 65 to below 23 within the last three years, and the price is now below the level of a quarter-century ago.
And of course this is within the context of big stock market gains generally within the last couple of years.
If the precious metals sector is on your radar, you have to at least take notice of the current opportunity. Mining stocks were already enduring a horrible year, and now they're suffering additional losses possibly due to year-end tax selling.
"Scientists tell us that the fastest animal on earth, with a top speed of 120 feet per second, is a cow that has been dropped out of a helicopter."
December 19th, 2013 at 11:07:49 AM
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The only people that made money of gold are the advertisers on Rush, Beck and others who sell gold at 100% markups to paranoid people. If you want a laugh try calling them and ask to buy just regular American Eagles and ask their selling price and what they are buying them for. They tell you to buy local as they don't even want that type business. They want to sell and overpriced Graded Coin.
