GTA Poker
Plummeting...any predictions?
IMO they are manipulated markets and cannot be predicted...but I'm no expert.
Hobbes
Just like any market.
I took a shit kicking on precious metals this year. :(
GTA Poker
Seems like a good time to buy...likely just a question of how long until it goes up. Has been a crappy 2-3 years though. Silver is below 16 at the moment.
Monoxide
i got lucky bought tons of gold in early 2011 like $1250/oz sold all 42oz of it for $1800 ea.
i wouldnt touch it right now, it only jumped because of the economy being in the shitter, like gta said yea it could go up again but whennnn
Macke
Interesting.. would be a decent time to buy then... it'll go back up.
Milo
My Dad has a couple ingots of silver that were purchased when the Hunt brothers were trying to corner the market back in the 70's. when he sold his house several years ago he asked me to look into selling them. Even when the prices were high, the offers were a joke, barely over 50% of spot price. Even Pawn Stars does a better job of buying precious metals.
Monoxide
Yeah theres tons of companies that just try and get the stuff for dirt cheap, I sold mine back to the bank for like 99% or so. Later I had a coin too and found a guy that bought coins for like 97% and it was slightly cheaper due to $30 bank fee to sell metals. I think I found him on kijiji. Im not sure if he bought silver, i imagine the silver ingots are in pounds, he probably did.
Milo
Troy ounces actually. hilarious the number of these cash for gold places that do not understand the difference.
Monoxide
Ahh ok, i ment Kilos anyway not pounds i dunno what i was thinking. If i was to start on silver id buy kilogram bars. But i wouldnt recommend it atm
Milo
And that is why the metric system is superior. A gram is a gram no matter what you weigh. But an ounce of gold weigh more than an ounce of sand.
Monoxide
yeah it sure is confusing sometimes, i agree metric FTW!
Macke
Should I buy 25k worth of gold when it hits 1100? lol..
Monoxide
Id keep waiting for now, it could possibly go lower. I think it will due to the current state of metals in general, but its hilariously difficult to predict those short term, not too hard to look smart and easy to look dumb kinda thing