Genesis

Even if you had bought the idea is to hang on eh? Recoup the loss. Obviously now would seem to be a good time to buy gold and silver. I am sure our local bullion dealer sees the drop as a Godsend rather than a problem. It is bound to go back up..isn't it??

I don't have the balls to buy bullion, know nothing about it and I see it as a way too big a gamble. Not even sure about Mighty River now.

downunderpom

You rang?

BTFD - "Buy the F&%*ng Dip", i.e. buy when the price drops, and then HOLD. This is the perfect time to be buying hand over fist.

Unfortunately, there seems to be a physical shortage of PM in the States. My latest buy is on the way to me as we speak, but I had to wait nearly three weeks for delivery.

The present plunge has been caused by PAPER gold being sold (dumped) in job lots - 400 tons of PAPER gold futures being dropped into the market in one lump. Can anyone spell 'manipulation'? Until they eliminate the fake (paper) gold from the real thing, the price of PM will bounce every time someone sells their futures.

"The Bank of Japan announced a massive $1.2 trillion QE effort on April 6. The move was lunacy given that Japan has already announced QE equal to over 20% of its GDP in the preceding years and GDP growth was still slowing."

"...the move in Gold looks to be several large institutions liquidating positions to meet margin calls or redemptions due to the plunge in Japanese bonds. The technical damage to Gold has been severe."

downunderpom

I've been doing quite a bit of landscaping over the last few weeks. I thought it might be an idea, while I had the ground all dug up, to 'plant' some old metal in several places, a couple of feet down while I did. That way, anyone searching with a metal detector is going to get pretty pissed off, pretty quick! The odd sealed can of rotting leftovers is also good - can anyone remember playing 'Minesweeper'? BOOM!

Oh, I'm so mean!

Robbie2010

It's bound to go up .... just as likely as the pound hitting nz$3

downunderpom

You just don't seem to get it - it's NOT about 'making a profit', it's about 'preserving your wealth'.

The 'price' of Gold and Silver is largely irrelevant. What is relevant is its purchasing power and that has not changed.

In 1964 one twentieth of an ounce of silver bought you a litre of petrol. Today, one twentieth of an ounce of silver still buys you a litre of petrol, and twenty years from now... it will still buy you a litre of petrol. If there's any left!

Can the same be said for 'two dollars'?

Currency loses value. Gold and silver (PM's) MAINTAIN their value. 'Money' halves in purchasing power every 9 to 10 years, on average. Something which costs $10 today will have a $20 price tag in 9 or 10 years time. This is known as 'inflation'. The only item of property which holds its value as well as PM is land. Real estate. And that can be taken away from you if you don't pay your rates.

Here endeth the lesson.

Robbie2010

Why pick 1964?

Lets look at 1974 shall we? .... Silver us$27.32 .. Today us$22.50

So how much of that wealth would have been preserved?

http://www.google.co.nz/url?sa=t&rct...eVJAraCVyRJbcw

http://www.google.co.nz/url?sa=t&rct...g_6zm24Wj2ELZA

If you look at the trends gold and silver could be on the slide for the next 20yrs.

Charismatic

People never learn:

Clappy

They never do.

In the meanwhile, I have heard that there is good money to be made investing in tulips ...

Snap Shot

downunderpom

Let's just agree to disagree. History will prove who's right.

It's just as easy to do a websearch and find:
"In less than 12 months, silver doubled. After a brief consolidation, silver surged another 33% in just six weeks, and without taking a breath, it exploded another 70%. The shiny metal skyrocketed by more than 275% in 25 months, and prices stood 5 times higher than they had been just ten years prior…."

For every 'yay' there's a 'nay'. Everyone has an opinion. You are entitled to yours, and I am entitled to mine. What say I let you have your opinion in peace, and you let me have mine?

Genesis

Apparently another reason for the drop in PMs is because in spite of all this $$ printing going on all over (except NZ!!) inflation or hyperinflation is not taking off like they thought it would. Anyway I am very glad this time round I did not buy gold. Was thinking about it at $1620 a while back and was put off by the huge $100 an ounce 'dealers fee' it would appear I had to stump up.

At that time many said that gold was sharply headed to $2k an ounce and then waaaaaay beyond. Just goes to show how fickle all investments are...gold, cash and any other kind of stuff you might hold.

I reckon a decent work of art or antique furniture can be a good way to look after 'value for money' issues for the future....and you enjoy them immensely in the mean time. Maybe I am biased as I have 3 very old grand father clocks, bought not as investments but as heir looms for my kids.

downunderpom

Blimey, Genesis! Your house must bounce when midnight rolls around!!

3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING! 3xBOING!

Snap Shot

I've got my grandfather's clock. It's actually a grandmother clock, but anyway. My Grandad won it as a prize for athletic endevour in the 1940's. I'm going to donate it to a museum, maybe they can fix it. The clock repairer has had it for about a year and a half now and has yet to do anything with it.

Has anyone else been to the Colyton Clock Museum in Colyton near Feilding ? The museum is amazing, thousands of clocks, one from 300 years ago, some from the 1970's, it's amazing.

Genesis

Wow, that museum sounds amazing!!! Do you have children you might like to pass the clock onto? Sounds like a clock with a great history!! Just the sort of thing I would have loved to have passed on to me. If you want to sell it and donate the money to the museum let me know.

Snap Shot

I've sent you a PM.