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Gold is down 1.5% and silver is down over 5%. Amazing!

http://dollarcollapse.com/

Yeah, other commodities are down as well. Oil at 55 a barrel as well. The market in general has been flat this year. Maybe we are finally due for a recession. It's been seven years since the last one.

Still, with the euro doing poorly because of all this grexit stuff, why aren't people turning to gold and silver as safe havens? Seems very strange.

I'd say back up the truck, but with this market it might be worth waiting for a bit more of a drop.

theo wrote:Gold is down 1.5% and silver is down over 5%. Amazing!

http://dollarcollapse.com/

Copper is down 4.5% as well.

Paper price is down but I was just on Provident web site and they have raised their premium on their cheapest rounds from 69 cents above spot to 1.50 over spot and almost everything is either sold out or delayed.

alpacafarmer wrote:Paper price is down but I was just on Provident web site and they have raised their premium on their cheapest rounds from 69 cents above spot to 1.50 over spot and almost everything is either sold out or delayed.

Yep, saw silver at $15.18 this morning and immediately went to Provident to purchase some of my favorite 5 oz rounds that they had just restocked only yesterday--and they were all sold out--supposedly

jmbullion still has 10 oz RMC's at 0.79 over...

Well, I'd much rather have PMs up 5% or more today, but I learned to take a punch long ago. This is just another example of market manipulation with a huge infusion of cash suddenly entering the PM arena.

I have been fortunate to snag some big silver years ago. Ha! I still remember the LCS owner at the time scolding me by saying, "Silver is at $6.88 per TOZ. You're never going to get your money out of this. Mark my words!" Told him then he was a goof. Would tell him the same if he was still alive.

My fundamentals for acquiring PMs remain steadfast. Back up the truck. At these prices I may be able to fill a trailer, too. No time to be nervous. To calm any potential jitters, take a couple of larger size silver coins. (They can even be culls, if you wish.) Drop them on a hard surface. Hear the ring of sound money? C'mon. Do it again. I'll never forget that sound. You shouldn't either.

Look at what happened to PMs in 2008... they fell right along with the stock market. The same thing will happened when this phony stock market crashes. Keep lots of dry powder ready.

highroller4321 wrote:

theo wrote:Gold is down 1.5% and silver is down over 5%. Amazing!

http://dollarcollapse.com/

Copper is down 4.5% as well.

If you think that's bad, nickel spot dropped 9%. On the bright side, it's certainly a good time for nickel-hoarders to stock up!

Know Common Cents wrote: To calm any potential jitters, take a couple of larger size silver coins. (They can even be culls, if you wish.) Drop them on a hard surface. Hear the ring of sound money? C'mon. Do it again. I'll never forget that sound. You shouldn't either.

Dr. Cadmium wrote:

highroller4321 wrote:

theo wrote:Gold is down 1.5% and silver is down over 5%. Amazing!

http://dollarcollapse.com/

Copper is down 4.5% as well.

If you think that's bad, nickel spot dropped 9%. On the bright side, it's certainly a good time for nickel-hoarders to stock up!

5 year low for Silver, Gold, Nickel, and Copper!

deacon wrote:Still, with the euro doing poorly because of all this grexit stuff, why aren't people turning to gold and silver as safe havens? Seems very strange.

Yup, you're right. In times of uncertainty, precious metals usually go up. It does seem strange.

Wild ass guess, but perhaps the Greek government or Greek banking system is selling off precious metals to meet the rising demand for cash.

I think, at this point and time, PMs cannot be allowed to be viewed as a reliable store of value. The currency system may be so vulnerable that it cannot tolerate even the slightest competition.