Thursday, July 29, 2010

The Sign of the Gold Decline?

When Gold was rocketing up, all I read was impossible to get gold coins.

Today I had a Monex salesman call me asking if I wanted any Gold or Silver coins.

I capitalize these precious metals, because they are currency like the USD.  Well, Gold for sure, Silver could be currency in a Mad Max world, 1 ounce Silver = 1 gallon gas.  

Just saying...the clearest sign of a downturn in PM prices....the hawkers calling up to sell to me.

Longer term......5 to 30 years, Gold is an incomparable store of VALUE..

In the near term, the gamesmanship is unpredictable


  1. Mmmmaybe! If so, it's a buying opportunity.

    I still hold that 1/2 PMs, 1/2 cash, both physical, is the only truly safe position.

    I'm keeping some ready cash to short equities and buy more PMs, whatever may come. Trying to time these deflationary/inflationary events is like trying to short the market of late - you have to be in it before the event, or it's too late.

    Unless of course, you like being glued to your computer 24/5

  2. Agreed, I bought in around $625.

    And hey with futures, you can be glued 24 / 5.5!!!

    I foresee Gold going to 5000, then back to 3000 and Elliot guys saying....see told you in 2009, there would be deflation....


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