Gold prices dropping

Gold will always be worth something. When the price goes down and your buyer has to lower his prices then you have to lower your prices. Something that I have learned from experience is that when prices are low there will be more e-waste to be had. I have been scrapping e-waste sense 2006 when gold was about 600-700 an oz. and I did quit well. I try not to buy any kind of scrap because when you have to lower your prices people don't understand. If I do buy scrap I pay as little as I can. I will not buy anything right now until prices stabilize.

For some of us, buying is the only option we have. I've explained to everyone my prices are not set in stone and must fluctuate with the market. Haven't had any problems yet. Plus this way if your prices go back up when gold is up then your suppliers would be even happier.

Freaking waterfall for sure. This thing is really rolling up on itself now. I am sure alot of margin selling going on. Just an opinion but I am seeing an 1150ish target on a few charts. If that doesn't hold to the down, it could get way radical as the next strong support seems to be in the 680ish area.

Silver....we seem to be in a target area right now. If that fails, we are seriously looking at possible single digit pricing.

Stay frosty.

Don't take this as investment advise. Do your own DD, etc.....etc....

I love it, sure it does suck not being able to sell to see that money right away but buying at these prices knowing I am going to make money is awesome right now I send stuff in so I lose on shipping so I send what I need to cause the stuff I get for free is just time I am putting into it so losing some is fine. so I save everything I am buying and I am small time but if gold does not go up for 2yrs its fine cause if I somehow manage to fill my garage and storage unit with 30,000 pounds of boards the check I get will be great to see and spend lol and I have a workshop inside the second bedroom were I keep all my memory and cpus and such so I have lot of space to save up there. I mean I smoke cigs so the $5day I waste on that means I can buy at least $50 a week in boards and such cause even if everything goes down hill I would rather be standing on my future looking down then then sitting on it wishing I was up there that's why I have a part time job so money is coming into pay bills so I am prepared for this type of thing

today's price $1,201 an ounce.

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Originally Posted by olddude

the market is only saturated with paper gold. basically worthless , like paper money. for those who don't believe this try to buy real gold at these prices. paper is only good for manipulating the market, the big banksters like Goldman sham are experts at, they invented the game so, they made the rules. BUY JUNK SILVER COINS IF YOU CAN FIND ANY A TTHIS PRICE.

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Real gold is hard to buy for a few reasons. 1 Anybody who had gold sitting around for years cashed in at $1300+ and doesn't have anything to sell. 2. The sheep who waited and waited to get in and purchased at $1500+ don't want to take a loss and are waiting for the price to skyrocket again like they were told it would.

Middle men who buy under spot and sell at spot+ fixed rate make money no matter what gold is doing, they DO NOT SIT ON COMMODITIES. Scrappers should cash in as soon as they get e-waste and either sit on the cash, pay off loans, or invest in something else you actually need or can understand.

People who say paper money is worthless crack me up, paper money can buy anything at any time anywhere while you are greeted with a smile. You have to beg buyers to buy your gold at lower then spot and if the buyers have too much (or prices are too jumpy) they will not buy at all. Try buying your cheetos at wal-mart with some gold and see how that works out for you.

:lGold Falls Below $1,200 to Three-Year Low
By Rob Bates, Senior Editor JCK News
Posted on June 28, 2013


http://www.jckonline.com/sites/defau.../gold-02_0.jpg


Gold, which began the month of June at more than $1,400 an ounce, crashed through the psychologically important $1,200 barrier on June 27, reaching its lowest level since June 2010.

At press time, the metal's spot price had recovered to $1,225 an ounce.

June 27 was a particularly rocky day for the yellow metal; its price fell some $30 after its opening.

“Nobody wants to own gold anymore,” Frank McGhee of Integrated Brokerage Services told Bloomberg. “We’re getting a continuous grind down with heavy liquidation."

This caps a very bad week for gold, which on June 25 hit a near three-year low. And some feel it may have further to fall: Goldman Sachs has forecast it hitting $1,050 by the end of next year.

travistemple202020,
I'm thinking the same way you are. I got the space, most ewaste I got for free, why not wait. I don't care if it takes years. It's all about getting the most for what you got. I know some others are at a loss because this is their primary income.

Value of paper money?...Wasn't worth much during the great depression. It could happen again. A lot people that buy gold are keeping it for stability not investment. Some of these people don't care if the price drops. This is their insurance if things get really bad. I personally prefer silver over gold. US silver coins 1964 and below, 90% silver. Asia countries people are buying up the gold.

in my opinion i think were in a dead cat bounce for metals right now, we are in the small uptick after the large drop, there should be another large drop in prices very soon

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Originally Posted by jghilino

in my opinion i think were in a dead cat bounce for metals right now, we are in the small uptick after the large drop, there should be another large drop in prices very soon

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I am thinking the same thing. Honestly how long can the public's demand push back against what the Global Banks are doing. I won't make any specific predictions, but it is my opinion that this "slight" turn around will be short lived, and that we will soon see what the bottom is really going to be.

this kinda reminds me of the transition from reel to reel to cassette tape to cd's to solid state.. music devices..

maybe this is the way that the feds wants to weed out the wanna be and see who can hang with the others.. I'm not sure.. but .. dang it..

These cornbuyon people are playing with people lives...

Hand tight.. BUY SILVER.

24h Prices Gold /Silver


Gold Price in US Dollar, Silver Price in US Dollar and Charts in US Dollar - Live Market Prices

Kind of a pretty chart today. What's up? ""Technical buying"" is the only reason I'm seeing on any of the financial sites I bother to check anymore.

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Originally Posted by auminer

Kind of a pretty chart today. What's up? ""Technical buying"" is the only reason I'm seeing on any of the financial sites I bother to check anymore.

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The Prices are up,good news.

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Originally Posted by copycat

Value of paper money?...Wasn't worth much during the great depression.

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You have no clue about history. Paper money was king during the great depression. It was the last great buyup of buildings and land for little money because everybody invested in worthless stocks and were cash poor. Being cash rich in a time where money is hard to come buy means you can buy everything cheaper then it was during the boom, people were desperate to sell valuable items to buy food (which also dropped in price). Major fortunes were made by people who could buy up properties (hotels etc) and wait out the depression because they had cash reserves.

[Marketviews] - What would you do if we had another Great Depression?

"During and after the Great Depression there were endless bargains to be found on almost every conceivable asset – stocks, whole companies, land, houses, machinery and equipment. History has shown that those who profited most from the Great Depression were those who bought assets at rock-bottom prices once the Depression was in full swing. In order to do this they needed to have cash on hand; and you would do well to do the same if we had another one. Hold lots of cash."

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Originally Posted by unknownk

You have no clue about history. Paper money was king during the great depression. It was the last great buyup of buildings and land for little money because everybody invested in worthless stocks and were cash poor. Being cash rich in a time where money is hard to come buy means you can buy everything cheaper then it was during the boom, people were desperate to sell valuable items to buy food (which also dropped in price). Major fortunes were made by people who could buy up properties (hotels etc) and wait out the depression because they had cash reserves.

[Marketviews] - What would you do if we had another Great Depression?

"During and after the Great Depression there were endless bargains to be found on almost every conceivable asset – stocks, whole companies, land, houses, machinery and equipment. History has shown that those who profited most from the Great Depression were those who bought assets at rock-bottom prices once the Depression was in full swing. In order to do this they needed to have cash on hand; and you would do well to do the same if we had another one. Hold lots of cash."

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A real-life example of this was my stepmother's father (I'm from Iowa). During the depression, people couldn't afford to feed their cattle. He bought a few hundred throughout the depression for around a dollar a head. Then just let them run in the pasture and eat grass in the summer; Hay, that he'd baled, in the winter. When the Depression was over prices soared and he became a millionaire. She and my Dad divorced in the 60s and never remarried. With her half of the inheritance, she doesn't even know how much money she has. She doesn't even spend the interest each year. My half-brother gets it all when she goes.

The last 2 posts were very interesting.

The last 3 posts were very interesting.

The only reason this major recession didn't turn into the great depression II is because we have credit (massive unlimited debt) to keep people buying. You have no idea what it could have turned out like if people didn't have a credit card to max out and years of unemployment checks. Of course you cannot default on credit cards anymore, states have adjusted their unemployment setups to payout less and for shorter periods, and banks have tightened up credit lending and credit limits for the masses (even when the get free money from the fed). The next bubble to pop will be much harder to live through considering it takes a decade for broke people to get back on their feet (if ever) and the things they relied during times of trouble have been greatly reduced.