Comments on: Gold, Silver Prices Plunge for Week; US Gold Bullion Coins Jump

By: Kevin

Kevin — Sun, 23 Jun 2013 19:42:03 +0000

Paper contract price of spot has “precious” little to do with supply and demand of physical metals. Every time Western ‘powers that be’ pummel the metals prices lower, China and some other govts load up. We may yet see China’s currency pegged to gold, in an effort to supplant the US dollar as the world’s reserve currency. Equally telling is the fact that JPM is now long gold (instead of short) and has significantly reduced their short position in silver.

Ready for launch.

It’s been a long 13 years for me in this pm market, with some ups and some very painful downs.

By: Terry Power

Terry Power — Sun, 23 Jun 2013 09:46:36 +0000

Some gold/silver mining is done at very low cost…..much lower than current pricing. Certainly some mine production will be suspended. But there’s also a lot of inventory floating around out there as well as speculators who are overextended on their positions. Look for continued pressure in the short term on gold especially.

By: Terry Power

Terry Power — Sun, 23 Jun 2013 09:44:36 +0000

Glad you figured out how to post, Mark 🙂

Yeah, look for major pricing changes this week. They usually happen on Wednesday. Nobody’s going to be buying from the mint at the current prices given the changes in the past week or so. Silver will still be going a little lower, gold has quite a way to go, I believe. Nibble selectively.

By: Coin Monger

Coin Monger — Sat, 22 Jun 2013 18:35:02 +0000

It will be interesting to see if gold and silver prices will continue to fall. At current prices mining isn’t profitable. If these prices are sustained for very long, mining activity will be suspended until the prices make it profitable again. Prices will have to increase back to the pre-selloff level to make exploration possible again.

By: Mark Hall

Mark Hall — Sat, 22 Jun 2013 18:31:04 +0000

Do you think the US Mint will reduce the price of the ATB P 5 oz quarters since silver went down 34% YTD like they do weekly with their gold numismatic coins? If so, when how by how much? Has the US Mint spoken on this issue at all in the past week or months?
Also a long term investor for my 13 month old lovebug do you think the ATB Bullion or Numismatic P’s are the better price with the current prices of $110-125 compared to $179.95 (+$5 shipping/order)?
Thanks in advance for your response!
Also, I have tried to post a couple comments now that have not went though, I am doing something wrong? I know I kinda detailed my life and linked to my website about me. I apologize in advance if that was out of bounds as I new to coins and metals. I have been reading your blogs and articles religiously – thank you very much for the insights!