What's happening with precious metal prices?

[Fabio]

Silver has always been over-estimated in store prices. Trading it in has never even become close to those prices.
The price of silver can fluctuate way more than gold, but once again, the store prices are always higher than normal market value.
Look at the other metal commodities, like copper. Copper tends to anticipate the gold market variations.
I'd say, if you want to invest in silver, like coins, look for the people who want to sell off their personal private collections for this or that reason.
Or you can take it in as part of your metal detecting hobby and simply KEEP all your precious metal finds until you decide what you want to do with it.
Wow, It's been a long time since I've written so much "balony"

 

[Nauti]

It's good advice,i'm keeping all my precious metal finds until the time is right to sell them.They have cost me nothing,so whatever way the market goes I stand to make good money from them.

 

[mudpuppy]

A very good site to read for an idea of where PM prices are heading is Kitco...especially their members forum, you dont have to join, just go there and read what the real gold traders are saying...you can also read the reports from the big miners like Barrick and Kinross...you want to key in on their 2014 production estimates (which are down) and their AISC (all in sustaining costs) per oz (which are up)...

Then, go to youtube and take 50 minutes to watch "Simon Michaux Implications of Peak Mining" how the costs of mining are related to oil costs..he's a mining geologist specializing in this subject..

Then, get up early and pay attention to Marketwatch, (or zerohedge, if you can tolerate the posters swears!)...since the US markets are closed Monday, what happens with PM's and Oil are important to us...smack down or smack up?

After chunking all you learn about what the 2014 big miners are doing, what oil is doing, global restraints/demands, etc...you should be able to get an idea of what PM's will be doing from a Macroeconomics level and not just a "feeling" level:...

Friday was an interesting day for the PM's...energy (oil) is what the mining World runs on...oil is traded in USD's (fiat) War (financial or otherwise, re:China) is now about procuring energy, (oil) and Gold is the base line commerce needed to adequately finance a War..

Good luck and report back with what you think about the Peak mining/Peak oil discussion...I am very interested in what the rest of us "surface miners" think.

Mud

 

[coondog]

WARNING SARCASM DEAD AHEAD!

I think it would be best for us all to sell our finds of gold and silver to the nearest place with a sign that says we buy gold.

Ya I know that our dollar has lost 98% of it's purchasing power in it's short history but hey nothing last forever.

And oh the burden of having all that heavy stuff lying about when we could turn it into some light weight paper sheets.

Here's an idea lets take our paper we got from are heavy useless stuff and buy some MYRA Obama bonds to help our country fight off Syria, or maybe to invest in another Solendra or maybe send snow from Georgia up to the Polar Bears to combat global warming.

But seriously I would rather rebury my metals and let it be lost forever than to pay one cent of my finds to a government as corrupt as ours has gotten. That means keeping it out of the system and only using it for direct swaps. This is what the Fed fears most, people using an alternate currency that can't be tracked or taxed. This is why they try to keep a lid on gold and silver prices, if people started using it as currency they could not possibly tax you night and day.

The gold in Fort Knox has all been but used up over the years to keep the gold price low. That's why when the German people asked for just a little of there gold back from storage at Fort Knox our Fed said no and shed no you cant even look at it. Of coarse you did not hear of this shameful act last year from the main stream government hushed media.

Well now it appears the jig maybe up for at least the gold and silver rigging. China has been buying all the real gold not the paper IOU gold that Americans buy and now the Comex is about empty. This may be why the last few days have seen large price gains in both metals.

So hold on to every bit guys and gals only sell it for survival reasons! Hopefully we will never need it. It may buy your grand kids a ticket to freedom.

 

[KinTN]

But seriously I would rather rebury my metals and let it be lost forever than to pay one cent of my finds to a government as corrupt as ours has gotten.

coondog, years ago my father and I were talking about how to pass on his/moms 'estate' (middle class) and I told him that I didn't care who he gave it to so long as the government got as little as legally possible. I suggested he have a bonfire before letting those "people" get it.




I kinda wish this site had a better edit feature. My rant above of last night doesn't belong on a metal detecting site. I apologize if I have offended anyone.

 

[Wandering Yoda]

LOL, great sarcasm coondog!! I saw a local TV news segment awhile back where folks were hosting "gold buying parties" at their homes. Some buyer fellow would come in with a pile O' Federal Reserve Note's and a briefcase, evaluate the gold and silver brought in, then pay out cash. The thing that made me scratch my noggin was a lady at the party said, after selling some gold, "Great now that we've got money, we can go get some pizza"!! Wow, must be some really good pizza!!

 

[Goldstrike]

-- moved topic --

 

[mudpuppy]

Well said coondog! Hey KinTN! That was a great rant coming from a base line of industry knowledge! Sort of what the vid of the mining guy was saying...theres No Peak, just no cheap easy shallow pickins...and how it all relates to prices of capture/retail. I find this all very interesting and regarding us detectorists, something a person could find entertaining to think about as we hunt. Imagine selling gold to some dang guy so you could buy a pizza? Whats wrong with this picture?uke:
Mud

 

[Fabio]

The way things are going in Europe, gold might not be enough for pizza...

 

[purplesage]

Silver is a good thing to have on hand...you may need it to buy the essentials to survive a major catastrophe that's coming.

 

[Mike Hillis]

The down side about the high price of gold.....less people buy it and wear it and loose it. Which means we find less of it.

HH
Mike

 

[cdsmith46]

Mmmm, could it possibly be supply and demand, or maybe just Satan?