precious metal prices, what is your prediction?

[rockriver]

an associate just invested in some precious metal...
he cries when it drops and yahoos when it goes up a little.

gold, at a starting reference of 1320 has gone to 1360 down to 1310 and now at 1330
all in the last month....
so, what say ye... prognisticators?
at 12-31-16 what will price be.
and at 12-31-17 what will gold price (spot) be?

silver... is about 20. now...
same questions..
end of 2016
and end of 2017?

[Mannlicher]

I predict that it will go up/down, and then go down/up. Personally I don't see any sense in tying up real money in metals.

[rockriver]

lol...
real money?

well, i'm saving for a rainy day...
we put away some federal reserve notes.. and every month try to put that somewhere " just in case" one of the "what ifs" were to occur.

and i'm getting a little long in the tooth..
what would be your suggestion... for where to put some federal reserve notes that I've saved up..
we don't have many, so I need to make a good decision.

and the question is posed to all of the other folks out here in internet land.

[Mannlicher]

Federal Reserve notes are no better than other paper money. It is all worth what someone else thinks it's worth, not what we feel it is worth.
My view is to keep your money earning the best it can, and watch the market like a hawk. Read, study, follow trends, make notes. If certain indicators show up, then move your investments, or cash in.
In any sort of 'crisis', there will be almost instant inflation, and almost instant unavailability of funds if stored online or at a brokerage house. 'funds' you own, but can't access are gone. Gold and silver, if 'owned' online, are gone. Gold and silver, if in hand, are worth maybe, maybe not, what you think they are. Hard to buy a loaf of bread with a $1600 Maple Leaf coin.
Lots of variables to consider, but accessibility and possession of assets is the key.

[Patriotic Sheepdog]

I have some cash, and PMs...and other metals (brass and lead). however i also have some junk silver to buy that loaf of bread. its easier to use a junk dime or quarter than that gold maple leaf, but..., that gold maple leaf may get you through a checkpoint that could save your life. having some of everything is helpful IMO. PMs will go up/down on whims. Its a long term investment and a hedge against inflation as its value will tag with inflation. example, remember when a silver eagle was oh, lets say <$9 not too long ago?

[Lowdown3]

Metal Bid Ask Change
Gold $1,336.90 $1,338.90 ($5.10)
Silver $18.90 $19.00 ($0.39)
Platinum $1,105.60 $1,115.60 $0.20
Palladium $704.80 $709.80 ($0.60)

Last Updated: 8/22/2016 8:25:56 AM ET

[1Admin]

And falling.... Buying opportunity?

[rockriver]

gold was 1800 4 years ago
silver was 30 to 40 at that time.

I didn't have any gold then. I did have a few ASE. an associate (several here met him) bought and sold constantly. he was calling me regularly trying to buy mine so that he could sell them. they were flying off his retail shelves. I should have sold!!!
but, I thought it was going even higher. I was wrong!

I look at gold/silver as a long term store of value, because I think our country and finances are in heap big trouble.

to answer ld3... yes. long term, I think this is a buying opportunity.

short term, toss a coin for the answer!
a few associates think this fall (election season) have a high probabllity of craziness occurring. if they are right, then
buying pm right now just may be a great short term purchase.

[rockriver]

it's not really time for an update, but the prices are interesting.

gold -- about 1310
silver about 19

I got curious about associate who'd made the gold purchase and wondered if he was "down"
nope... he finally advised his purchase had been a private person to person deal... he'd paid 1250. per coin.
gives one something to consider... at any given spot price.. is there a price at which you would buy.
5% or 3% or 10% under spot. I would like to get some, but we retired, and our incomes are way down.
pm are on the list, but so are a lot of other items...

but I love a good "bargain" hmm... if gold drops to 1000 I wonder if associate will think he got a good deal?

[tech]

PMs are going to be a gamble no matter what you plan, say or do. The real issue is, do you think metals are important enough to make the plunge?

BTW, take RR's last comment about gold dropping to $1000...sure, sounds like a great opportunity to buy. But what is to stop it from dropping further? Generally, I see PMs more as a medium to carry wealth over a period of strife rather than an implement of speculation.

[rockriver]

it's been a month...
and time to check the upward progress of your pm stores.. (notice I said "yours!")

two ways to think about it...
1. O sheet!! it's down. I lost money!

2. Yee Hah! buying opportunity. even better than when ld asked.

take your choice... or choose both! me... I just made another purchase and disposable monies are limited right now!

gold is about 1250
silver is about 17.50

for gold that is about 5% down from our starting point of 1320
and
for silver about 12% down from our start of 20.

[Lowdown3]

I think most of us were expecting the HUGE run up like we saw in 2007-2009 again. Roughly $20. seemed to be the ceiling for silver short term.

[rockriver]

we've been busy...
haven't looked at pm prices in a while.

gold 1130
silver 16...

my associate who bought gold at 1250 (when it was 1325!!) thought he did great.
but.. he says he has no plans to sell...
the same buyer... bought his last silver at 20+

[Lowdown3]

Looking at my notebook, I realized I had bought hardly any PM's all year. Too busy buying other metal items of various sorts. I'm behind long term savings goals for PMs. I look for sub $1100. gold here shortly, although probably just briefly. Will it go back to under $1000.? Probably not.

But we could see $14. silver again.

I'll be buying again soon. And probably buying a couple of mining stocks again also. Would love to catch ASM again at $.72 but highly unlikely.

The economic euphoria will likely continue through spring, maybe further. But in the long term, 20 Trillion in debt is a helluva albatross.

[1Admin]

http://www.cnbc.com/2016/12/16/gold-is-at-risk-of-doing-something-it-hasnt-since-the-early-1990s.html