# Time to buy gold and silver?



## jro1 (Mar 3, 2014)

Time to buy gold and silver?

Prices are dropping. Is anyone buying? If so, what's your favorite way to buy precious metals?

"Gold, silver tumble on strong U.S. growth data, Fed view
4 hours ago
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By Frank Tang and Jan Harvey

NEW YORK/LONDON (Reuters) - Gold dipped below $1,200 an ounce on Thursday and silver plunged 4 percent to its lowest since March 2010, a day after the U.S. Federal Reserve gave upbeat comments about economic growth and ended its year-long bond-buying stimulus program.

Unexpectedly strong third-quarter U.S. economic growth data on Thursday, coupled with the Fed policy statement which suggested the U.S. central bank could hike interest rates sooner than expected, lifted the dollar index. [FRX/]

Also weighing down on the precious metal complex was data showing weak price pressure in Germany and Spain. Muted inflation readings gave the European Central Bank some grounds to hold off more economic stimulus. [ID:nL5N0SP4BA]

Analysts said that expectations of a sooner-than-expected interest rate hike and a subsequent a dollar rally could further pressure gold prices.

"Our sense is that there are still obviously more adjustments still to come in terms of (higher) real rates and the dollar, and we do feel that gold will be breaking those lows," said Michael Lewis, head of commodity research at Deutsche Bank.

Spot gold (XAU=) fell as low as $1,195.70 an ounce, which marked a three-week low. It was last down 1.2 percent to $1,197.40 an ounce by 11:25 p.m. (1525 GMT).

U.S. COMEX December gold futures (GCZ4) were down $27.90 at $1,197.

U.S. interest rate futures shifted to show better-than-even chances of a rate rise next September. Previously, they had indicated a rise in October.

That dented interest in gold, which as a non-yielding asset tends to benefit from ultra-low rates.

The U.S. central bank largely dismissed financial market volatility, a slowdown in Europe and a weak inflation outlook as factors that might limit progress towards its unemployment and inflation goals. [ID:nL1N0SO24I]

Commerce Department data showed a smaller trade deficit and a surge in defense spending buoyed U.S. growth in the third quarter, though other details of Thursday's report hinted at some loss of momentum. [ID:nLNNULEA31]

Silver (XAG=) was down 4.1 percent at $16.35 an ounce, having earlier hit its lowest since March 2010 at $16.30.

COMEX options floor trader Jonathan Jossen said investors sold silver on heavy losses in copper and technical selling after it broke below key support near $16.80, near its recent low from earlier this month.

Spot platinum (XPT=) fell 1.5 percent to $1,235.25 an ounce, while spot palladium (XPD=) dropped 1.9 percent to $774.75 an ounce."


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## bernzzii (Jan 21, 2014)

Go to the local shop to chat coins with the owner. He usually only deals in collectable ones tho. Otherwise I go with Gainesville coins for bullion buys.


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## Ripon (Dec 22, 2012)

I'm not adding any. You can only carry so much and I don't see it worth trying to carry get more. I don't see any reason to suspect the values will increase at this moment.


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## Suntzu (Sep 22, 2014)

As an economist & professional day trader I have to speak.
You're using gold price history as in indicator of what it is worth, and/or where it will be tomorrow. Investments do not work in such a way. To support your investment idea you just posted an article (assuming it's predictions prove accurate) that gold has been dropping, will be dropping more, and has zero reason to recover in the foreseeable future.
The single most important thing to remember when buying, especially for a long-term investment is where it is likely headed, not where it's been.

Disclaimer: I am not licensed to provide financial advice.


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## jimb1972 (Nov 12, 2012)

I am still buying a bit here and there, I do not have faith in the long term economic outlook. Mostly I buy it as a security blanket in the event a major economic catastrophe wipes out my other investments. Just silver, I think gold is still overvalued by 10-15% silver right now is probably about right, economic numbers frequently take a hit right after the election.


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## Ragnarök (Aug 4, 2014)

jro1 said:


> Time to buy gold and silver?
> 
> Prices are dropping. Is anyone buying? If so, what's your favorite way to buy precious metals?
> 
> ...


my opinion..buy silver but stay away from gold right now. gold still is to high imo.


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## Stick (Sep 29, 2014)

I stopped buying when it hit $400. Too expensive. Silver was getting up to about $5, too, so quit that. Haven't bought ammo in years either but it's way up there, too. Hey, anyone want to trade a shipping container for some gold. I could use a container now better than gold. Just saying.


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