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dom1971
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Precious Metals: Just a Squiggle

- John Rubino - Dollar Collapse

Hi Bill,

Thanks for your response. Wow I really was spitting the dummy at this point wasn't I? Ha ha. So thats what I said at the time, but what did I actually do? I bought more (sly grin). I sold one of my guitars and juggled the family budget to make room for another purchase. I needed to look at the big picture, and for the most part I'm in this game for the long-haul.

I watched the charts all day, saw the price fall to $27, waited for signs of a proper bounce-back (please don't be a dead cat bounce) and then bought at $29. This will offset the batch I bought at $40, averaging things out.

Glad to hear your enthusiasm for coins - thats where all my bullion is. I prefer coins to bars and have the entire stack in small denominations.

1oz, 2oz and 1/2 oz silver coins - mostly 2012 Lunar Dragons from Perth mint (so if the silver price fails they still retain some collectable value). These seem to be selling at 50% to 100% over spot on ebay. Also a stack of 1oz eagles as pure bullion.

In gold I go for 1/10 to 1/2 oz coins - mostly eagles or the local Perth Mint ones again. I'm hoping gold will get down below its 200-day average to make that a more attractive buy. Right now I'm overbought in silver (60% silver, 40% gold and I usually like it the other way around).

Gold help me if this turns out to be a bad decision, but I'll stay in the game... for now.

Commented 4730 days ago

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Beginning of the headline : Now this is a correction.In the space of three days gold is off 10% and silver 25%. What's happening? Two things: First, you don't get this kind of run without this kind of correction.When something soars, the number of people with huge embedded profits eventually reaches a tipping point where, for a while, selling necessarily overwhelms buying... Read More

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