Buying gold, silver when to start?

Discussion in 'Financial Cents' started by oil pan 4, Mar 1, 2018.

  1. oil pan 4

    oil pan 4 Monkey+++

    Once you figure out where then it's only a matter of when.
    Gold Is Seasonal: When Is the Best Month to Buy? - Casey Research
    Makes sense.
    I usually buy in the summer.
    Worst time to buy is Sept through Nov, which is when the stock market usually takes a dump. January is also a really bad month to buy gold, probably because peoples new years resolutions to save more money, the stock market usually does real well in January, for the same reason.
    I say open a historical chart for the last year if the price is high don't buy, if it's near a 1 year low then buy.
    Pretty simple.
    oldman11 likes this.
  2. Altoidfishfins

    Altoidfishfins Monkey+++ Site Supporter+

    Wife and I buy whenever we have spare cash.
    oldman11 likes this.
  3. duane

    duane Monkey+++

    Two ways to buy precious metals, play it like the stock market and it is a better game perhaps, or stock it like beans, bullets,etc and buy them for the long term and not really worry about the short term price. If you were smart enough or lucky enough over the past 40 years, metals have been a really good trading item, if you put them under the mattress, there have been times when it was really comforting. Think everyone should have some silver, the coin of the common man, don't really want to trade an ounce of gold for a bag of rice, but if starving it might be worth it. Like silver dimes, quarters, and half dollars myself.
    Gator 45/70 likes this.
  4. SB21

    SB21 Monkey+++

    I've put back a little in the past few years . only thing I know is to buy low . If I'm lucky I won't have to use it , and my daughter will be able to use it when I'm worm bait .
  5. oil pan 4

    oil pan 4 Monkey+++

    If you want to be a habitual PM buyer maybe just avoid buying October through feb, when the price is historically up and just stash the cash in your PM during those long winter months.
    What' the worst that could happen? You get more PM for your money?

    Unlike food or ammo the PM price can change 10% easily any year, 20% some years.
    That means you can buy 10 to 20% more or if you have a number goal then you hit that goal under budget and spend the money saved on something else.
    oldman11 likes this.
  6. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    I can believe this unless something truly influence the economy but in general, yeah.
    Current price is $1317. One would have thought that it would have dropped since the market is so high unless, of course, the market is extremely overvalued. Nah, that can't be! LOL!
    Cruisin Sloth and oldman11 like this.
  7. mysterymet

    mysterymet Monkey+++

    I have a friend who retired from my current employer who deals in PMs part time.
    oldman11 likes this.
  8. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    The BIG question is if it will go down and I am betting we will not see it return to $1000 in our lifetimes. I think $1300 is the new benchmark and it will go up from there, definitely won't go too far below $1300. Thoughts?
    Last edited: Mar 1, 2018
  9. Dont

    Dont Just another old gray Jarhead Monkey Site Supporter+++

    I remember when it was 800 then 500 and folks reminisced about when it was 800.. Will it drop to 500 an ounce again?? A1000 an ounce? OR.. 20 an ounce anyone?

    PM's are tied to the purchasing value of FRN's and can be thaught as an exchange of value.

    Buy a dozen egg's for an ounce of gold ..
    OR, $20,000.00 FRN's if is value is adversly impacted by inflation..
    I can trade for FRN's, food, shelter, tools and transportation.. Oh, and defensive measures..
    The medium for exchange would be based on it's trading value. The storage considerations should be based on the speculation of future purchasing value.. Traditionaly, PM's hold it's trade value well.

    As I see it, storage of the hours I have worked today will be based on by it's future trade value..
    Today, gold is available for trade for 1300 inflated FRN's..
    PM's, bullets, beans, or bandaids.. What is your choice for storage of hours worked...
    oldman11 and BTPost like this.
  10. ghrit

    ghrit Bad company Administrator Founding Member

    Always was, always will be so, and the main variable is demand. The same can be said for soy beans and pork bellies, the main difference is that metals don't have to be used in a "short" period of time.
    oldman11 and Dont like this.
  11. Dont

    Dont Just another old gray Jarhead Monkey Site Supporter+++

    And PM,s store longer without degrading..
    oldman11 likes this.
  12. Wild Trapper

    Wild Trapper Pirate Biker

    Would anyone be interested in a boating accident discussion? biglaff
  13. Tevin

    Tevin Monkey+++

    Gold is about $1300/oz and silver is about $16/oz. They both have been hovering around these levels for a long time now. Silver in particular has been stable for a few years.

    There is no "season" or "good" time of year to buy. We're not talking about agricultural products or gas or things that predictably swing due to known periods of supply and demand. Buy when you have the money. If you have a lot of money, dollar cost average your purchases.
    Dunerunner likes this.
  14. oil pan 4

    oil pan 4 Monkey+++

    Production cost for most gold coming out of the big mines is around 1,100 to 1,200 per ounce. So if the prices drop the big mines shut down and choke the new gold supply.

    Silver has largely been a byproduct of other mining processes so it's really hard to determine production cost.
    If the economy is good and a lot of copper is being mined silver is probably going to be relatively cheap.
  15. oil pan 4

    oil pan 4 Monkey+++

    Gold very much has seasons.
    The mines in alaska, canada and the rocky Mountains close during the winter, as most gold is mined by open pit then India has their wedding season which a lot of gold that gets bought up for.
    So there is more gold supply March through the summer than there is in the winter months.
  16. oil pan 4

    oil pan 4 Monkey+++

    Silver is with in 25 cents of about a 2 year low some days, but it's probably eventually going to get lower. I think it's a good time to buy, I'm occasionally seeing dealer panic spot prices, saw 44 cents an ounce over spot on kilos the other day, I expect to see more of this on smaller denominations before long.
    Now is good, later this spring or summer is probably going to be better.
    The problem is prices are kind of low and silver trading volume is kind of dead.
    Gold is kind of high and is probably going higher. Look at a 5 year price chart and it's hardly spent any time above 1300 over the last 4 years. If you do buy gold now expect it to be up to 1 to 2 years for it to be worth more than you paid after the bid/ask difference and spot fees. I expect a very slow march higher with occasional dips. I'm expecting I will have to pay at least $1,320 for Eagles, if I wait for a price low.

    I got a 3% bonus this year that was 100% unexpected, after being told there was no chance anyone was getting any bonuses this year back in late 2017.
    Probably going to spend most of it on hookers, booze and blow like always.
  17. oil pan 4

    oil pan 4 Monkey+++

    With gold nearing a 4 year high now is definitely not the time to start buying.
  18. oil pan 4

    oil pan 4 Monkey+++

    Gold is down to about a 6 month low.
    I'm not going to buy.
    If this sudden nose dive continues the gold dealers may panic and offer gold at very low to near no spot fees.
    Ganado likes this.
  19. oil pan 4

    oil pan 4 Monkey+++

    Gold hit a 1 year low today.
    Not really that interesting.
    Just shows you how gold is in a hurry to go no where fast.
    Bad if you want to make money.
    Good if you want a safe haven.
  20. oil pan 4

    oil pan 4 Monkey+++

    Gold is down near 1,225 today and silver near 15.50.
    Now wouldn't be a horrible time to buy.

    The gold dealers may start panic selling. Only buy now if the spot price is down to around $20 per ounce or bar.
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