Precious Metals Crash - Gold Could Go Down to $1,600/oz - Even Lower

[EWAAN Galleries 11]

Hi All

 

Interesting how Gold and Silver have crashed..... Feel sorry for precious metal investors who got in a bit too late....

 

Gold is now trading at $1604 and silver at $29.10

 

See this article:

 

Kitco - Commentaries - Nu Yu, Ph.D.

[PBGold 10]

Hi All

 

Interesting how Gold and Silver have crashed..... Feel sorry for precious metal investors who got in a bit too late....

 

Gold is now trading at $1604 and silver at $29.10

 

See this article:

 

Kitco - Commentaries - Nu Yu, Ph.D.

 

Hardly a crash, not by a long shot. Even if Gold had to hit 1400 I still wouldn't call it a crash. Gold has gone up so much this year, a fall like this is nothing at all.

[EWAAN Galleries 11]

Hardly a crash, not by a long shot. Even if Gold had to hit 1400 I still wouldn't call it a crash. Gold has gone up so much this year, a fall like this is nothing at all.

 

 

Then why should the SA Mint adjust their prices.... They should just leave prices as is

 

Down over R1000/oz in days..... Thats a crash!

[PBGold 10]

Is the Mint going to drop their prices?

[kyle2 10]

Is the Mint going to drop their prices?

 

Most unlikely, their prices are based on the other end of the rainbow, wishfull thinking and dubious favouritism.

[Pierre_Henri 79]

Hi Ho Mandela

 

Maybe we must all sell our gold and silver holdings and just buy Mandela coins?

 

2000 R5 - THE VERY VERY SCARCE MANDELA 2000 R5 - MS60 was sold for R8,400.00 on 14 Dec at 23:47 by JD Numismatic Corp in Pretoria / Tshwane (ID:52762585)

[EWAAN Galleries 11]

Maybe we must all sell our gold and silver holdings and just buy Mandela coins?

 

2000 R5 - THE VERY VERY SCARCE MANDELA 2000 R5 - MS60 was sold for R8,400.00 on 14 Dec at 23:47 by JD Numismatic Corp in Pretoria / Tshwane (ID:52762585)

 

 

Yes Pierre..... You may be correct.... For Short Term Investments... Nothing beats the Mandela Coins......

[EWAAN Galleries 11]

Hi All

 

Just an update....

 

The Rand is currently trading at $8.37 to the dollar.... Gold is at $1574 per oz.... Down again from yesterday.... Seems like the dollar is gaining strength against all major currencies. I have been watching the UK Pound / USD Rate for 15 years now.... I remember back then there was hardly any movement at all...

 

Gold in Rands is at R13169 per oz.... Remember when it went to R15k... Thats a drop of way over 10%...

 

I personally think it will take some time to recover and back to a higher level...

[EWAAN Galleries 11]

Hi

 

Silver has dropped like crazy in rands... Now at R245/oz.... Huge drop over this month......

[Jongleur 10]

Hi

 

Silver has dropped like crazy in rands... Now at R245/oz.... Huge drop over this month......

 

As a matter of interest what is the premium percentage buyers are willing to pay

in relation to the silver price. As a collector of for example 5 shillings can one expect the

price to drop commensurate with the silver price or the inverse when it rises (all else being equal

in relation to scarcity, condition etc).

[ThomasMueller 10]

The most secure items are bonds from Greece and Italy :-)

[EWAAN Galleries 11]

Hi

 

Gold and silver both down again.

 

Gold is currently trading at $1563 or R12830 per oz.

 

And silver is at $27.33 or R224 per oz.

 

So silver down another 10%

[ThomasMueller 10]

Physical silver is still in demand...

 

...e.g. Morgan silver dollars.

 

Circulated Morgan Dollars Rebound

[Pierre_Henri 79]

Blonds and Bonds ...

 

The most secure items are bonds from Greece and Italy :-)

 

There is a "L" missing from those Bonds ...

[alloway65 10]

French B(l)onds give quite good value for money as well!!!!

[ThomasMueller 10]

[h=1]Chinese Central Banker Declares That 'Gold Is The Only Safe Haven Left'

[/h]

Read more: Chinese Central Banker Declares That 'Gold Is The Only Safe Haven Left'

[EWAAN Galleries 11]

Is $2000/oz the next level?

 

Hi

 

Amazing how gold and silver climbed again.

 

Gold closed at $1667 and silver at $32.20. Silver up 20%.

 

 

I think we may see gold at $2000 per oz very soon.....

 

 

But still cheap in rands. Rand trading at R7.95 to the dollar so an oz is R13260

Edited January 21, 2012 by EWAAN Galleries

[Cold Sea 6]

Hi Ewaan,

 

Correct me if I am wrong, but if you had bought your gold in 1980, at the then record price of USD 870, it should be worth well over USD 2000 today, that is if you factor in inflation. Minus the commissions, fees etc, I would say your gold investment has crashed long ago.

 

Maybe you can do the calc for a rare gold coin, like a ZAR Kruger, and see if that would have been a better buy. I have got a feeling that you would have fared better. Some of my coins have appreciated very nicely thank you, and that was without any investment advice. Some of them are not doing so great, but I am "richer" than before, counting inflation and all. Call me stupid, but the logic of hoarding precious metals evades me. Scaremongers like Alex Jones and his cronies seem to know something I don't.

 

Putting all your eggs in one basket, well it sounds like a basket case to me.

 

Derick

[EWAAN Galleries 11]

Hi Ewaan,

 

Correct me if I am wrong, but if you had bought your gold in 1980, at the then record price of USD 870, it should be worth well over USD 2000 today, that is if you factor in inflation. Minus the commissions, fees etc, I would say your gold investment has crashed long ago.

 

Maybe you can do the calc for a rare gold coin, like a ZAR Kruger, and see if that would have been a better buy. I have got a feeling that you would have fared better. Some of my coins have appreciated very nicely thank you, and that was without any investment advice. Some of them are not doing so great, but I am "richer" than before, counting inflation and all. Call me stupid, but the logic of hoarding precious metals evades me. Scaremongers like Alex Jones and his cronies seem to know something I don't.

 

Putting all your eggs in one basket, well it sounds like a basket case to me.

 

Derick

 

 

Yes you are correct - we have seen much better returns on certain rare coins

 

Also the rare coins is more fun and interesting compared to bullion

 

When it comes to coin collecting we always say to collectors that they cannot make money on every coin in their collection. If the coins are sold on auction they will lose on certain coins but make up enough on others... So in the eyes of a true collector its not only about the investment - its the fun of putting the collection together. And yes when time to sell the collection it must sell at a profit...

Edited January 22, 2012 by EWAAN Galleries

[Pierre_Henri 79]

The Height of being an Idiot ....

 

Scaremongers like Alex Jones and his cronies seem to know something I don't.

 

Putting all your eggs in one basket, well it sounds like a basket case to me.

 

Derick

Hoarding anything is stupid - but the most stupid thing one can do is being a doomsday activist - NOTHING is stupider than that ...

 

Pierre

[qball 12]

Please can everyone stick to the topic. Off topic and confrontational or personal posts will be removed and users banned.

 

Thank you

[EWAAN Galleries 11]

Gold price in Rands!

 

Interesting that gold has gone to $1725. So that's like a $50 increase.

 

But the price in rands is still low. Spot price in rands now R13400. That's only R140 more on a $50 increase.....

[ANTONDIRK 10]

Hold on to your Gold and Silver

 

Now the prices of Gold and Silver are rallying very well. They should go up, way up, even in the shorter term. Some economists in America foresee a rise in Gold up to US$2000 in this year alone. Silver usually follows suit and may reach far over $50 this year. But as Silver is used increasingly in many industries it has reached a point where more silver is used than is mined at this stage. For silver I see a longterm price rise. Of course, some industrialists might be trying to keep Silver's price down in order to keep production prices down. But this can't be sustained. Silver will go up and up. Simple marketing rules say when something is more in demand than can be supplied, the price will go up.

So, hold on to your Silver and your Gold. The end of the pullback in their prices is in sight already. Gold has always been 'n long term investment.

The main difference between Gold and Silver is that Gold is much sought after for its inherent value, and always has been; but Silver is much sought after for industrial usage. The available Gold in the world will never be used up, but Silver's availability is going down. A great deal of the Silver above ground is already being used in the many industries, like Computers and X-rays and many, many more.

All the best, Dirk

[ThomasMueller 10]

Silver...

 

Silver can also very important for water disinfection if you don´t have fresh and clean water. Usually people on trekking in remote areas use silver chloride (Micropur, Katadyn).... I have 500 grams of silverchloride, I hope I will never use it!

[Muligan 10]

Silver has a ton of uses