The economy, the election, and precious metals
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Old 10-07-2012, 04:00 PM   #1
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Default The economy, the election, and precious metals

I'm guessing that precious metals are going to be somewhat flat in October. I think there is a lot of uncertainty due to the upcoming U.S. elections. I'm looking for a significant change post election. If Romney is elected, I expect a drop in metals due to new excitement over a change in course in American economic policy and anticipated improvement in the stock market. If Obama is re-elected, I'm looking for metals to take a big jump as the policies that have been driving silver and gold's upward movement will be locked in for another 4 years.

Right now, I'm straddling silver. Anyone else using options?

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Old 10-07-2012, 05:00 PM   #2
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Metals prices fluctuate based mostly on dollar value fluctuations rather than demand or political outcomes. The market is "emotional" that way; gold and silver generally aren't. If you're referring to ETFs, that's another story. I stay away from paper gold/silver because decoupling is near, IMO.

I'd like to buy land, more metal and get out of cash. Some sane investments (mines, mostly) are OK. Reality being what it is, I'm working on clearing out debt before I dump a lot into alternate wealth.

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Old 10-07-2012, 05:37 PM   #3
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If there are people buying and selling, there is emotion. Thankfully, the commodities markets are not as "polluted" as say the stock market is. Typically people who trade in commodities are a little more educated and aren't chasing down the latest Facebook.

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Old 10-07-2012, 09:03 PM   #4
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I would say metals and commodities are going to be the way to go from here on out. It is important to also be prepared for a good outcome, so we cannot neglect things like retirement plans, savings, etc.

I would say lead, and gold are two commodities I'd like to invest in.

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Old 10-07-2012, 09:30 PM   #5
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Gold and silver are used not only monetarily, but as industrial metals, especially in the electronics field. China has been ramping up production of photovoltaic panels, which uses a pretty fair amount of silver.

Metals ARE going to have ups and downs as the currency they are traded in bounces- but I do not see silver going back to the $14 an ounce of a couple of years ago. If someone comes up with a P-V panel based on soy sauce and dirt, silver still has a monetary value.

I do not have major investments directly in metals- I DO have a few thousand in US coinage that is serving to help anchor one of my empty gun safes (lost all the guns on a boating trip). If I wanted to hold paper, I could hold CDs and stocks.

But the first thing we did was get to zero debt. No mortgage, no credit cards that I do not pay off each month, no car loan, no home equity, no education loans.

It is amazing how much MORE money you have to play with when you are not paying INTEREST to someone else. Right now, if I needed to buy a car, I would do what I did in April- found a nice used car, wrote the dealer a check for it.

To anyone that thinks I'm bragging, and that it is easy for me to say that-

Yes, I am bragging- I married a smart woman. And it damn sure was NOT easy getting to the point that we owe no man anything- but it IS doable.

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Old 10-07-2012, 09:34 PM   #6
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In the grand crash of civilation know as TSHTF a pound of gold would not be as valuable as a can of beans. The most valuable metals would be brass and lead, the most valuable chemicals; carbon, sulfur, and saltpeter.

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Old 10-07-2012, 10:47 PM   #7
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I'm thinking the same way the OP is on this issue. I only hold silver in physical form. I bought all summer in the mid to upper 20's. I just let go of 26 ozs to buy a new 1911, some ammo and even ended up buying some more silver in other less premium heavy form.

I'm going to be on the sidelines for physical silver until after the election and will be working on rounding out my ammo and food supplies.

I'm seriously thinking of selling off a few more ozs and buying my first AR. More firearms than me and my family can carry but there is a hole in the collection that an AR would fill nicely. I'm considering it to be profit taking on the silver I bought over the summer.

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Old 10-16-2012, 10:04 AM   #8
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Most of the financial folks I value have been pointing to a major correction in the market coming soon regardless of who gets elected. The news we have been getting from the govt beancounters has been tainted by partisan politics for some time, the true state of things will come out quickly once everyone has raised ther hands and sworn to protect their party for the next session of our politicrat lifes.

Our jobless recovery cannot sustain itself; growth without new cash flush consumers means growth will end and a new round of layoffs will begin.

Im trying to wipe out and consolidate debt as quickly as I can, the only real deals out there are those of us that can refinance our debt and lock it in at the lowest mortgage rates Ive ever seen.

Buying gold or Silver isnt a bad bet at this point but most folks just dont have the disposable income to do that. I hope we dont have to do it but years ago, me and my wife bought a great big old home, big enough to move our daughters and their families back home with us in case the SHTF. I recently added about 6 acres of contiguous property and a barn a couple years ago so regaining my farming roots is a real possibility and we will eat somehow.

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Old 10-16-2012, 10:46 AM   #9
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The value of gold will remain high for a while without a strong recovery on the horizon. It doesn't matter who gets elected, the economy is in the tank, it will be years before it recovers. Us poor folk are looking to pay off dept, spend very little, buy guns & ammo!

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