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Julius- Thoughts on precious metals FFTA


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#1 TakeAStepBack

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Posted 21 February 2012 - 02:24 AM

So, I see a spiker in the medals market and I'm curious if you see a "bubble"/ Thought if any?

#2 Julius

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Posted 21 February 2012 - 07:01 PM

I'm more interested in copper but think gold is an important part of any retirement account. Mine has 5% in gold right now.

Not gonna make you rich in a hurry, that's for sure! And no bubble, worry about a bubble after gold is at $2000.

#3 TakeAStepBack

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Posted 21 February 2012 - 07:33 PM

Thanks.

I'm looking to buy both gold and silver. Been reading a lot on the metals market and people that are constantly eyeing, say that owning sliver or gold receipts for payment isn't the way to go. Instead owning the physical metal is the way. Apparently there are some scares of secondary sales that is driving up the prices and should demand of delivery occur, there could be shorts. I read that this even happened last year this time with silver and folks were being asked to take cash ($60 an ounce) instead of proper payout....

#4 Julius

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Posted 21 February 2012 - 07:48 PM

If you can trade silver successfully, you're better than I am. Too crazy for this guy.

But if something blows up in Iran, they're both going a LOT higher.

#5 TakeAStepBack

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Posted 21 February 2012 - 08:14 PM

That's kind of where I'm at too. Seeing the $ tags on troy ounces of either one right now is :one:

I can only imagine should something go boom what will happen there. I'm not convinced that either are building a bust, since it's been a steady, slow climb, especially in gold, since the 70s.

I do worry about getting the shaft carrying gold/silver notes instead of physically holding it.

#6 Julius

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Posted 21 February 2012 - 08:26 PM

I do worry about getting the shaft carrying gold/silver notes instead of physically holding it.


I don't. I have no interest in the physical metals, the ETFs are proven, liquid, absolutely the way to go. I like IAU for gold because it has lower fees than GLD but either one is fine.

#7 TakeAStepBack

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Posted 21 February 2012 - 08:28 PM

Excellent. Thanks for the pro-tip.

#8 Julius

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Posted 21 February 2012 - 08:38 PM

If you REALLY want to buy physical silver there is actually one place I know of where you can do it very close to the spot price. Pan American Silver is a silver miner who sells one ounce coins without the markup of a 3rd party.

http://www.silverpa.com/pricing.php

#9 TakeAStepBack

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Posted 21 February 2012 - 08:38 PM

THANK YOU, J! :jamguy:

#10 TEO

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Posted 21 February 2012 - 08:41 PM

Taking notes

Although I do worry that if everything blows up, all notes will become as valuable as Confederate currency in pre-collectible post Civil War years.

#11 JBetty

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Posted 21 February 2012 - 09:09 PM

Although I do worry that if everything blows up, all notes will become as valuable as Confederate currency in pre-collectible post Civil War years.




Gerald O'Hara'd

#12 TakeAStepBack

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Posted 21 February 2012 - 09:19 PM

Taking notes

Although I do worry that if everything blows up, all notes will become as valuable as Confederate currency in pre-collectible post Civil War years.


That's another part of where I'm at with it. It's a safe hedge against hyperinflation should it occur. It won't be worth holding coinage in the short term of an economic meltdown, though.

Even still, owning metal seems like a really good investment aside from the doom and gloom. Gold has steadil been on the rise for a long while. When it was at $1,500, all I heard was SELL!, people were obviously patient for the most part because we're closing in on $1,800 and people are now saying it could hit $2,000 an ounce.

I want to get in now in case it just keeps going. the peopel that got in in 2001 were really smart critters. They have made a ~300% FRN profit.

#13 Julius

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Posted 21 February 2012 - 09:29 PM

Taking notes

Although I do worry that if everything blows up, all notes will become as valuable as Confederate currency in pre-collectible post Civil War years.


If everything blows up I'll either be dead or running whores in Oakland who will only accept metals, bullets, or chocolate for payment.

#14 capt_morgan

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Posted 21 February 2012 - 10:00 PM

so this is where ur all hiding :funny1:
anyone got a dollar?:lol:

#15 TakeAStepBack

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Posted 22 February 2012 - 12:33 AM

I was really interested on julius' thoughts on this. I am glad he served up some goods. I advise getting in the metals game. I got France thinkin' bout putting her IRA all in on gold right now. :shocked: :crazy:

France will do France of course.

#16 TEO

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Posted 22 February 2012 - 12:52 AM

:panic:

France will you knit me a tin-foil hat too? :crazy:

Note: I am going to make metal changes in my IRA. :wink:

#17 TakeAStepBack

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Posted 22 February 2012 - 12:56 AM

France is frustrated with her portfolio. Is in flux a lot and losing isn't her game. She's a winner in that way. :wink:

I totally overly exaggerated too. :funny1:
But, metal is a good place to put investment. It's a long term strategy fer sure. :heart:

#18 capt_morgan

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Posted 22 February 2012 - 01:07 AM

france 'll curb stomp a bitch

#19 PeaceFrog

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Posted 22 February 2012 - 01:50 AM



#20 Julius

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Posted 22 February 2012 - 01:55 AM

Please no more than 20% of any important account in alternative asset classes.

Sorry, that's programmed into me. :lol:

#21 TEO

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Posted 22 February 2012 - 02:18 AM

Please no more than 20% of any important account in alternative asset classes.

Sorry, that's programmed into me. :lol:


:lol:

Please define important. :plain:

#22 TakeAStepBack

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Posted 22 February 2012 - 02:58 AM

Ser. The more I readhttp://www.goldprice.../spot-gold.html the more I want to proclaim the dollar in the bubble and metals reactionary. Look at the gold credit market index.

#23 TEO

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Posted 22 February 2012 - 03:13 AM

I wouldn't recommend keeping precious metals in a safe deposit box either.
Secret underground bunker might be the safest bet.

#24 PeaceFrog

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Posted 22 February 2012 - 03:49 PM

looking at the 6 month chart, it appears that gold is now in a downtrend. (lower lows)

seems there's support at 1550

Definitely seems like more of a long term prospect.

#25 jnjn

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Posted 22 February 2012 - 06:20 PM

i flipped my 401k around last quarter focusing on more aggressive funds as well as metals & it hasn't panned out as well as i thought. patience is definitely not a virtue of mine, but i'm gonna wait it out until next quarter before i decide to flip it back again or not.

need to start doing some research again on ira's & other options because this 401k bs has me feeling uneasy :undecided:

#26 TakeAStepBack

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Posted 22 February 2012 - 06:24 PM

Go all in on gold. :crazy:

#27 PeaceFrog

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Posted 22 February 2012 - 06:28 PM

you could have bought Hecla Mining Company (HL) in 2008 for about $1 and sold it in 2010 for $10. That's 1000% profit in 2 years.

gold is more like a 20 year investment.

I didn't have the money to buy it in 2008... sucks to be poor.

#28 Tim the Beek

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Posted 22 February 2012 - 07:45 PM

Please no more than 20% of any important account in alternative asset classes.

Sorry, that's programmed into me. :lol:


This.

Metals as an investment, in any way other than a hedge, is too hard on my BP. I do have a small stash of junk silver coins, and gold and silver bullion.

They may come in handy some day if things get really ugly, though I'm more focused on the idea of not having to buy much if that actually happens...

#29 Julius

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Posted 22 February 2012 - 07:47 PM

I'm doing some work on platinum today. It's suddenly up to $1725/oz, about to catch up to gold in price.

#30 TakeAStepBack

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Posted 22 February 2012 - 07:49 PM

That's a significant jump unless I misread the last price I saw, no?

#31 Julius

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Posted 23 February 2012 - 05:49 PM

BOUGHT SLV today, the silver ETF.

For no other reason than it is going UP.

#32 TakeAStepBack

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Posted 23 February 2012 - 06:42 PM

:jimy:

#33 PeaceFrog

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Posted 23 February 2012 - 06:55 PM

BOUGHT SLV today, the silver ETF.

For no other reason than it is going UP.


I see that it's consolidating into a flag formation and will probably break out soon.

Are you planning to sell when it reaches 45?

#34 Julius

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Posted 23 February 2012 - 07:07 PM

I see that it's consolidating into a flag formation and will probably break out soon.

Are you planning to sell when it reaches 45?


I rarely have price targets. Sell when it stops going up.

#35 TakeAStepBack

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Posted 23 February 2012 - 07:17 PM

I rarely have price targets. Sell when it stops going up.


You'll be good to go on holding out for a long while. It's a slow, steady climb with some bumps in the road.

What are you thinking on platinum?

#36 TEO

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Posted 23 February 2012 - 07:24 PM

I prefer brunette.

#37 Julius

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Posted 23 February 2012 - 07:24 PM

What are you thinking on platinum?


I'm thinking I don't understand what drives the price as well as I understand gold, silver and copper. But there are supply shortages in "sowfafrica" and auto demand for catalytic converters is on the upswing. PPLT is the way to play it, but I'm not biting.

#38 TakeAStepBack

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Posted 23 February 2012 - 08:01 PM

Interesting. Thanks.

#39 Julius

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Posted 27 February 2012 - 08:38 PM

The inflation implications with oil up here at $110 are huge. Yet another reason to buy gold.

#40 TakeAStepBack

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Posted 27 February 2012 - 08:39 PM

:smile:

#41 TakeAStepBack

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Posted 27 February 2012 - 08:46 PM

it will be interesting to see how high the price goes on oil and at the pump through the summer. I'm gonna stake out as high as ~$8.00/gallon at the pump due to speculations over the Iran incident and the crude barrel around ~$130.

Funny, it isn't a supply and demand problem either. it's purely in the market spec that is driving this. Perhaps rightfully so, too.

:dunno:

What's your take, J?

#42 Julius

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Posted 27 February 2012 - 08:53 PM

tell ya in 7 minutes! Watching the close today like a swooping eagle.

#43 TakeAStepBack

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Posted 27 February 2012 - 08:53 PM

Same here. :crazy:

#44 Julius

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Posted 27 February 2012 - 09:06 PM

Holy Jesus what a nutzo day that was! When stocks and treasuries both go up at the same time there's something really fishy going on. Looks like all that European liquidity is pouring into the US and they're just buying up everything.

So anyway, oil has had a hell of a run. I'd expect a mild and short-lived technical pullback to around $102 for WTI crude, less of one for Brent and then a resumption upwards. $125 is the level where the airlines can't make money so anything over that is terrible for the economy and should start taking some scalp out of the stock market.

#45 TakeAStepBack

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Posted 27 February 2012 - 09:14 PM

Noted and thanks. :jimy:

#46 Julius

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Posted 28 February 2012 - 06:59 PM

Silver was up 4% at one point today. I sold it. Never saw a good gain I didn't want to SELL!

#47 PeaceFrog

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Posted 28 February 2012 - 07:04 PM

you two definitely are not on the same page.

nice gain Julius.

TASB is still waiting on delivery of his silver bars.

#48 TakeAStepBack

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Posted 28 February 2012 - 07:13 PM

Silver was up 4% at one point today. I sold it. Never saw a good gain I didn't want to SELL!


Suite. It'll keep climbing though. :crazy:

Short sale'd.

#49 PeaceFrog

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Posted 28 February 2012 - 07:16 PM

it's not a short sale if he already owned the security...

how does this guy go around telling everyone else to do some reading before they comment when he doesn't even know what a short sale is?

typical, right?

#50 PeaceFrog

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Posted 28 February 2012 - 07:20 PM

Gold doubloons is the way to go :thup: