Grant Williams asks, “Are you a trader or an investor?”
Click download link to listen on this device: Download Show
That’s one more indicator Mike, but of course, the big volume buyers who move price aren’t using eBay. But your point is still taken…there are some really high premiums at many of the “real” metals vendors too. I need to buy more metals, but I’m not going to buy at such high margins anywhere right now. Let the inventory build since Friday continue.
I was going to say something else but I withdrew my words. All I would say is why would anyone buy silver on eBay. That is not the real price of silver
James, I have to disagree with you on that point. Ebay is actually the only real price of silver if you believe in a free market system. There is absolutely NO manipulation when buyers and sellers agree to a price. The issue on ebay is will you receive what you pay for…most likely yes but these days you never know.
https://online.kitco.com/bullion/completelist_USD.html What it tells me is that the people buying on Ebay don’t have a clue. DT
I’m not a big fan of Mike Swanson, but he really hits the nail on the head about the bull market and when to buy and sell in this article , my hats off to him.
http://howestreet.com/2013/04/this-is-the-final-liquidation-of-the-gold-bug/
Looks like it is going to be another blood bath tonight. Gold already down $22. Will it be down $200 by morning, very possible
Thank you Dan!
Big Al
Ad I said a couple of days ago,it will be an interesting week!
Big Al
Meanwhile stock futures all green
As expected, James. Gold will be green soon too. It is already setting up for a corrective bounce. Nothing goes down in a straight line you know….oh wait,….. I will have to eat those words!
Bird Man,
With all due respect, China, Russia, India, Austrialia (Now France), Brazil, South Africa, Turkey, Iran, etc….shall I go on my friend? They will have a little bit to say about gold and the value there of. Heck, they might even make you eat some. Enjoy. Good luck digesting it though. All see you on the other side of the trade? I doubt it.
Hunh??? But gold IS in a corrective bounce. I don’t follow you.
Al – I mentioned earlier that the small time investor who got in late got wiped out and that bull markets need new money. This seems to be playing out. HSBC states after the selling ends it will be a long slow grind up, but the bull market is over and we will not have those moves up again for a long time as investor confidence is destroyed. If these poor people were the same that lost everything in the stock market crash in 2008 and then took what little they had left and put it in gold then that is very sad. Nothing new under the sun here
HSBC may well be calling this one right. The problem is that few retail investors trust gold right now. How can the public be called upon to participate in a rally for metals when the carnage was so heavily publicized? And with some guys constantly telling everyone how it is badly manipulated (I won’t name them today) that surely cannot be building the confidence of those who have never yet invested in gold. It is the equivalent of everyone who bought property in Florida screaming that it is all crappy swamp land. Well big surprise that the public hears that and just decides to put their money elsewhere!!
Now your dollars r worth even less and the Feds gold,if they have any, is less.They have worthless gold,bonds and mortgages.HA!HA! HA!
Rich not sure I follow if gold lost value than dollars are worth more. Gold is not worthless, it is never worthless. You do not understand the baiscs
Feeling bummed out today? When I feel this way I go and take look at this chart and feel better about gold and silver. There is no way that the US can possibly grow its GDP to pay this off without printing money. The Chart is an exponential curve and there are only two possibilities; 1) hyperinflation or 2) debt default.
http://www.usgovernmentdebt.us/spending_chart_1900_2015USr_14s1li011lbn_H0t
No Clay. The third option is the obvious one and it is what I have warned about before because it is inevitable. There will be confiscation and revaluation. Gold will take part in the international debt settlement mechanism again under a hybrid monetary system while providing the necessary backstop against defaults in Europe. It is an idea that is so simple it is irrisistable. Very few investors will get to participate in the revalued price though.
If the dollar hyperinflates or if the government defaults, which is better to have debt dollars or real money.
NOW, NOW Clay,
Dont let logic, common sense and “clear headed” thinking get in the way of a FULL-FLEDGED
panic! 🙂
I don’t know Marc, what’s wrong with full fledged panics!
Big Al
Let me take a wild stab at that, how about REAL . MONEY!
Big As l
Oversold
http://stockcharts.com/h-sc/ui?s=$GOLD
I have not been able to keep up because this site is so busy. Good discussions.
Dan
Go figure that this is the only chart I have seen that is not ridiculous.
http://stockcharts.com/h-sc/ui?s=$USD
Dan
The blood bath for gold is over, at least for now. It will climb 100 to 200 dollars in the next several days. This forecast is based on my remote viewing work.
TAPIOCA,
I am intrigue about a remote viewer coming onto the site. Out of curiosity, any thoughts on the next 1 to 2 years for gold and silver? Remote viewing – I never thought about that with respect to these investment. Interesting, dang interesting!
During a segment in the weekend show Al made a brief comment on the mega trillions $ held as “derivative investments” … watching today’s action (all markets, all asset classes) … here is the head scratch: DDDIP … Deadly Derivative Destruction In Play … neither fundamentals nor charts matter when the action is under the radar, in the back room – driving markets. How else can one explain the dollar and the euro trading within “normal” range today … while stocks, oil, and, metals did SHTF? DDDIP!
Mr. Doug,
Interesting comments, gee who knows anymore – good thoughts.
It was a long day for you Al. Thanks a ton my friend.,
Andrew
http://www.youtube.com/watch?feature=player_embedded&v=ZhFZF940eYU
Here is my question to you……If the paper market, i.e. miners, etfs, etc go broke, how much physical will be enough insurance to protect a family?
Bobby: Difficult question, so many possible outcomes, but eventually the derivative time-bomb will blow up because when more gold is sold in one day at the Comex than is produced by all the mines in a year, something will give. If the mines shut down because their product is below production cost, the real metal will be rare as 10 carat plus D grade natural diamonds.
The price of gold, silver and everything is bought and sold by people is now controlled by derivatives which in “nominal” amounts is well over a quadrillion dollars and still growing exponentially. These things create artificial price suppression in gold and support in the DOW, S&P, etc. but the bulk of their basis is factored on US treasuries. This is where the problem for the Federal Government and the Fed exists bec5 use they can not keep interest rates down forever and without getting near 10% real GDP growth soon, the bond market will crack up.
Kyle Bass and many others including Al’s and mine favorite guest Grant Williams have spoken at length about Japan’s bond and currency crisis which is will likely blow up this year. The same thing now happening to Japan will happen to the US bond market and when any inkling of that appears possible, the derivatives will start defaulting one after the other in cascade.
Gold was taken down to protect US bond market, look for news about foreign owners of treasuries who have begun to dump their US bonds.
Thanks Clay, I agree with your view of derivatives and actually it was how I explained to my wife what was happening in the markets currently. Lindsay Williams made the call that derivatives would be the world’s demise, over a year ago. I believe he also was the one that called the order of the fall being Japan, Euro, US. Time will tell, but he is someone that has made unbelievable calls now coming to fruition, definitely worth a listen.
Yep, Lindsay is an earful, seer’s often are. I really like Pastor Williams, but he is really a pain to listen too. He will start his sermon with a bombshell topic announcement that he is going to explain completely and then digresses, regresses, departs, detours and “derivitizes” his topic until the cows come home. Honestly, listening to my wife tell me a story is easier than listening to Lindsay.
Many will tell me I am bad, but brevity is my modus operandi compared to the Pastor.
You got that right, Clay. Did you notice that he is never interviewed, just comes on an gives his monologue (sermon)? You have to love that guy.
Thanks ever so much for the essay Bobby. Reminds one of the old adage about so many who know the price of everything but the value of nothing.
Best, Andrew
your welcome brother Andrew, peace to you!
My word for the day…… Volatility………… I expect to see large swings in the prices of pms for the foreseeable future, hold on this will be the roller coaster ride of your life. As I asked above, how much insurance (physical) will you need to protect your family?
eBay over the last few years I have observed it usually sells at a higher premium for gold and silver than retail buillion sellers. Just buy from a place like Kitco. As far as selling your metals, after fees you get a slightly better deal than selling to Kitco or similar dealer.
well Don, for the mini-investor, under $500. you cannot beat ebay for price. I have not purchased any metal there in the last 5years or so, but prior to that, i used to get eagles and 90% under spot, no premium.
For reasons of simplicity and speed, I’ll put in a plug for BorderGold dot com.
For my very first order, setting up the account and placing the order was a 5 minute phone call. They didn’t require a tax identification number, just a personal I.D.
– and I find their prices very competitive.
Michael Levy from Money Talks radio show this weekend said that sales have been brisk lately.
Dan
Dan;
I can believe that!
I noticed their website was down most of yesterday … too many hits to handle I guess; didn’t try calling them yesterday.
After we get a wee bounce here, I expect a new low price.
Sorry, for those that don’t know Michael Levy’s family has run Border Gold for decades.
April 13th show, just after the 13 minute mark. Can’t find the second hour of the show though. Michael Levy is highly respected in Canada also.
http://moneytalks.net/upcoming-shows.html
I am bearish even with a bounce. Gold to the high $1100s will be my buy or I miss the move. Of course my broker keeps calling trying to sell me options then the price drops another $50 or $100.
Dan
Its a good thing I have already spent all my money so I can’t lose anymore!
(;-D
Dan
http://www.cknw.com/news/audiovault/index.aspx
I think the second hour you’re referring to would be Sat April 13 @ 9 a.m.
The cknw vault is in Pacific time.
Hey Al, congratulations on the HUGE amount of hits this weekend. I was busy doing snow removal and looking after a sick cat this weekend and did not contribute so you could have had more hits.
Dan
Al doesn’t care about hits, that’s Jeff’s job! LOL (joke al, joke)
I like JW from Kitco and regret any negative I have said about him in the past. He seems like a good and honest guy.
G&S charts with a bit of commentary.
http://www.kitco.com/reports/template_jimw.htm
Dan
If anyone wants to see the real price of silver just go onto Ebay and see what 1oz. Canadian Silver Maple coins are selling for. They are being bid up to $36+ per ounce. What does that tell us?