-- Posted by iconoclast at 11:27 am on Aug. 12, 2008 Silver has gone down to $14.50 an ounce from more than $19.00 fairly recently, gold down to $815 from a recent $970. I think that soon I'll be picking some bars up from my local dealer (coin dealer). Maybe some silver dimes/quarters that typically go only a little over melt. Has anyone else noticed this and done anything? -- Posted by tait at 11:27 am on Aug. 12, 2008 Everything is going down. -- Posted by iconoclast at 11:28 am on Aug. 12, 2008 platinum also crashed pretty bad, down to $1450 from $2000+ recently. -- Posted by Kitty Kiska at 11:28 am on Aug. 12, 2008 I never knew about prices of gold or silver but i do know that its all cos of new fascination with platinum -- Posted by iconoclast at 11:28 am on Aug. 12, 2008 Quote: from tait at 2:27 pm on Aug. 12, 2008 Everything is going down. A good strategy, I think, is to load up on bullion, then it will likely go up during the labor day period as gas goes up due to travel. -- Posted by Silenced at 11:29 am on Aug. 12, 2008 no as i don't exactly walk around with gold and silver -- Posted by tait at 11:29 am on Aug. 12, 2008 Quote: from prisoner of hss at 7:28 pm on Aug. 12, 2008 Quote: from tait at 2:27 pm on Aug. 12, 2008 Everything is going down. A good strategy, I think, is to load up on bullion, then it will likely go up during the labor day period as gas goes up due to travel. Nah I'm sticking with investing in Arms Companies. That is where all the real money is. -- Posted by iconoclast at 11:30 am on Aug. 12, 2008 Quote: from tait at 2:29 pm on Aug. 12, 2008 Quote: from prisoner of hss at 7:28 pm on Aug. 12, 2008 Quote: from tait at 2:27 pm on Aug. 12, 2008 Everything is going down. A good strategy, I think, is to load up on bullion, then it will likely go up during the labor day period as gas goes up due to travel. Nah I'm sticking with investing in Arms Companies. That is where all the real money is. why not just become the next yuri orlov -- Posted by Nippon Wolf at 10:37 pm on Aug. 12, 2008 Quote: from prisoner of hss at 11:30 am on Aug. 12, 2008 Quote: from tait at 2:29 pm on Aug. 12, 2008 Quote: from prisoner of hss at 7:28 pm on Aug. 12, 2008 Quote: from tait at 2:27 pm on Aug. 12, 2008 Everything is going down. A good strategy, I think, is to load up on bullion, then it will likely go up during the labor day period as gas goes up due to travel. Nah I'm sticking with investing in Arms Companies. That is where all the real money is. why not just become the next yuri orlov Yuri Orlav? maybe you are thinking Viktor Bout, there is a fictional character named Yuri Orlav based off of him in an awesome movie but he never existed. But seriously contraband is where the cash is, guns are good because if you get caught with them it is hard to prove illegal intent. Drugs can supply a lot of money as well. -- Posted by iconoclast at 5:43 am on Aug. 13, 2008 well duh i was talking about the movie guy -- Posted by obvious child at 4:25 pm on Aug. 13, 2008 Quote: from prisoner of hss at 8:27 am on Aug. 12, 2008 Has anyone else noticed this and done anything? This happens every recession. Morons inflate the price of precious medals only to watch them crash with their savings. The intelligent method of precious metal investing is to buy when the economy is excellent (thus low prices) and sell when then economy is tanking. -- Posted by iconoclast at 9:31 pm on Aug. 13, 2008 well OC I'd say it's more that the morons inflate the price of oil then people buy like mad to hedge against inflation -- Posted by obvious child at 10:42 pm on Aug. 13, 2008 Quote: from prisoner of hss at 6:31 pm on Aug. 13, 2008 well OC I'd say it's more that the morons inflate the price of oil then people buy like mad to hedge against inflation Not quite. Inflation is being increased by oil and inflation is driving the price in oil. It's a vicious cycle. the shit-tastic dollar (thanks Bush!) is causing oil producers to increase their prices causing oil to rise. As oil prices rise, inflation rises, furthering the decline of the dollar, thus causing producers to raise prices. Left alone, this is a very bad wheel of destruction. And oil as a hedge is a relatively new thing. 10 years ago oil wasn't a hedge asset. -- Posted by iconoclast at 7:06 am on Aug. 14, 2008 isn't it also the speculators? Like, on the stock market and shit?  That sounds like the 'oil as a hedge thing' And, you think anything terrible will eventually result from this? As for the hedge, I meant precious metals as a hedge against inflation. -- Posted by obvious child at 2:09 pm on Aug. 14, 2008 Quote: from prisoner of hss at 4:06 am on Aug. 14, 2008 isn't it also the speculators? Like, on the stock market and shit?  That sounds like the 'oil as a hedge thing' To some degree. The government has stated that there is no evidence of speculation driving prices abnormally high, but this is also the government where Paulson denied that the dollar had an impact on oil prices. If we wanted cheap gas, the *simplest way would be to rally the dollar. * meaning in terms of monetary effects, not actually getting there. And, you think anything terrible will eventually result from this? As for the hedge, I meant precious metals as a hedge against inflation. Not really. Precious metals will always be considered a hedge, regardless of their stupidity. -- Posted by iconoclast at 2:34 pm on Aug. 14, 2008 meh, id never buy gold high as a hedge. i still might buy rare gold because i collect coins, for fun and investment and all (coins have investment value, not just precious metal, in case you werent aware-most people arent) and we all know how trustworthy the government is * yawn* -- Posted by Elm at 10:08 am on Aug. 19, 2008 I bought gold bullion as a hedge when it dipped to 880 a few months ago.  It is simply an insurance policy against total economic collapse.  If you are going to invest in precious metals wait a few years when it will drop down to 4-5 hundred again.  If you are using it as insurance make sure you buy the hard asset itself (as in gold or silver in the hand). -- Posted by iconoclast at 7:45 pm on Aug. 19, 2008 good luck for it to ever get that low again if silver goes down to 11.50 ill pick up another 20 oz -- Posted by iconoclast at 7:46 pm on Aug. 19, 2008 it sounds like im talking about a sports drink -- Posted by Bacon at 6:22 am on Aug. 20, 2008 I have no idea about the ore market and now I will proceed to spout inconsistent claims about said market with utmost vigour. -- Posted by Elm at 8:37 am on Aug. 20, 2008 Quote: from prisoner of hss at 7:45 pm on Aug. 19, 2008 good luck for it to ever get that low again if silver goes down to 11.50 ill pick up another 20 oz Not with inflation the way it is no but in good enough times and if China is sated buying raw goods it should fall to that level in equivalent buying power. I remember when silver was 4.25 oz.   -- Posted by iconoclast at 8:56 am on Aug. 20, 2008 i remember that too, and want to slap myself for not having 1000 bucks as a kid i dont think we'll see good times for awhile, personally. im just hoping it goes back to $21 at least for a short time so i can list it on the bay -- Posted by holysaiyan1 at 10:10 pm on Sep. 1, 2008 Quote: from obvious child at 1:42 am on Aug. 14, 2008 Quote: from prisoner of hss at 6:31 pm on Aug. 13, 2008 well OC I'd say it's more that the morons inflate the price of oil then people buy like mad to hedge against inflation Not quite. Inflation is being increased by oil and inflation is driving the price in oil. It's a vicious cycle. the shit-tastic dollar (thanks Bush!) is causing oil producers to increase their prices causing oil to rise. As oil prices rise, inflation rises, furthering the decline of the dollar, thus causing producers to raise prices. Left alone, this is a very bad wheel of destruction. And oil as a hedge is a relatively new thing. 10 years ago oil wasn't a hedge asset.   Fun fact: presidents don't control the economy. Also, in your mad rush to blame Bush for the economy, as hss points out, you're forgetting to add in the effect of speculators in the market.   To some degree. The government has stated that there is no evidence of speculation driving prices abnormally high, but this is also the government where Paulson denied that the dollar had an impact on oil prices. If we wanted cheap gas, the *simplest way would be to rally the dollar. * meaning in terms of monetary effects, not actually getting there. It's actually quite agreed upon by financial experts that speculation had a measurable effect on oil prices.   I can't find the story right now, but I recall when oil went over $140 a news piece about how a man single-handedly pushed it over the $140 barrier, just so he could say he was the first person to buy oil at $140 a barrel. The dollar has been rising in value in the past few months.  Precious metals and the dollar have an inverse relationship.  Do the math. -- Posted by WhiteDwarf at 4:54 pm on Sep. 2, 2008 lol, yep, I bought 33oz's of silver bullion at around 19 or so dollars, which was stupid of me in hindsight. The other day one of the guys I work with said that an oz is worth like 13 bucks right now, and i was like "WHAT?!". i would probably buy right now, but i dont really have the spare money unfortunately. -- Posted by iconoclast at 5:10 pm on Sep. 2, 2008 If it drops to $11.50 I think I'll go to the shop again.