Do not obey your television

Discussion in 'Financial Cents' started by oil pan 4, Aug 21, 2016.

  1. oil pan 4

    oil pan 4 Monkey++

    Now that I am back state side and see regular TV instead of AFN I see why there is a sudden resurgence in interest in buying gold and silver.
    If they are advertising it they are only encouraging you to buy high so the dealers will make a killing off the hoards of gold and silver they bought while it was cheap.
    If they are advertising it then it is a sellers market meaning its not the time to buy.
    You should be selling it like I am to all the suckers who obey their television.
    Motomom34 likes this.
  2. Ganado

    Ganado Monkey+++

    You are making a very large assumption, equating gold buying with TV watching

    I think it will go up some more but I'm not willing to play roulette with my savings.
    techsar likes this.
  3. duane

    duane Monkey++

    Buying or selling gold or silver is not the game you wish to be in. If you play with the big boys in the long run you will lose. I buy it as an alternative long term store of value, don't really care what the price, own some as insurance against inflation, etc. Don't believe in speculating on it, but it has done me very well in comparison to the stock market or bonds and bank interest. Get the things you need to survive first, beans, bullets, water, etc and then buy some for insurance. I want to at least be able to pay my taxes if things get bad. Had people who lost their land at the end of the civil war as the taxes paid to the confederate states were not considered valid and neither was their money. Those that had a little gold or silver made out ok according to family lore.
  4. oil pan 4

    oil pan 4 Monkey++

    If buying the pushed "advertised" investments then its not roulette, its more like a slot machine. You feed a bunch of money in to get a little back out.
    At least with roulette you can win.

    And you should care about the price. The difference between a 2 year high and low with silver if you spent $500 is the difference between getting about 22 ounces at a high versus or about 32 ounces at a low.
    Ganado likes this.
  5. Motomom34

    Motomom34 Moderator Moderator Site Supporter++

    Very true. But you never know when it is going to go up or when it will drop. I didn't anticipate silver to go down to $15. I figured it would stay up but it didn't. I do wonder if silver and gold truly is a good investment. Gold was always the go to in the past but who is to say it will be in the future.
    Ganado and techsar like this.
  6. techsar

    techsar Monkey+++

    The way I see it, would you rather have it and not need it or need it and not have it? The price is more of a reflection on the power of fiat money, not the value of the PM. Purchasing at a "fair market value" (give or take) and not speculating is my m.o.
    Motomom34 and Ganado like this.
  7. oil pan 4

    oil pan 4 Monkey++

    A good investment is one that can never drop to 0.
    Such as you get with individual stocks.
    I'm usually looking for at least a 1 or 2 year low to buy.
    That lets me buy gold or silver at least once a year.
    I am sure the prices will see a sharp drop next year shortly after the election when the world doesn't end after one or the other is sworn in.
    techsar and Motomom34 like this.
  8. oil pan 4

    oil pan 4 Monkey++

    When gold briefly shot up above $1,300 an ounce I saw a bunch of "buy gold now" TV adds.
    Then it drops $100 an ounce in 2 days and all of a sudden the ads are not being run any more.
    I guess it actually works, cause they keep doing it.
  9. oil pan 4

    oil pan 4 Monkey++

    A wide selection of gold is showing up on the secondary market. More than I have seen in a long time.
    Looks like plenty of people panic buy high, then panic sell low.
    I'm in the wrong business.
    Ganado likes this.
  10. oil pan 4

    oil pan 4 Monkey++

    With gold down around 10% off its normal price and silver down nearly 20% from its high I can't help but notice an absolute lack of "buy gold now" or "buy silver now" TV commercials.
    Brokor and mysterymet like this.
  11. mysterymet

    mysterymet Monkey+++

    That is when you know its time to buy.
    Brokor likes this.
  12. oil pan 4

    oil pan 4 Monkey++

    From December to January is the time of year I expect to see a price dip.
    It doesn't happen every year, such as years when the stock market is in the toilet.
    This time of year as long as the stock market is acting normally and everyone is preoccupied with running up their credit card ballance buying crap made in China PM demand will be low.
    Caveman Jim and mysterymet like this.
  13. oil pan 4

    oil pan 4 Monkey++

    Silver ads are back on.
    You know what that means. Any big buys you make now will only pad the dealers coffers.
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