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Silver an gold are in a dead pullback it seems.....

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Pillar of the Community
United States
3670 Posts
 Posted 03/06/2012  3:56 pm Show Profile Bookmark this topic Add Silverhawk74 to your friends list Get a Link to this Message

What gives, sub 33 silver and sub 1700 gold, multi days now of pulling back trends?

Oh well, might as well get ready for a new buying window, esp if silver drops below the 30 menodza line.....

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United States
687 Posts
 Posted 03/06/2012  3:58 pm  Show Profile Bookmark this reply Add spaceace to your friends list Get a Link to this Reply
No problem with the downslide here, I can continue some of my silver sets at lower costs (for now at least)
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United States
2569 Posts
 Posted 03/06/2012  4:11 pm  Show Profile Bookmark this reply Add Tim Stroud to your friends list Get a Link to this Reply
I am fine with the pullback. In fact I hope to see another 50% shed from current valuations so I can really rack up. I have been stacking cash since it went above $30 waiting for the next big drop so I could buy more like I did in December.
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Oldest Circulation Find ----- 1897S Barber quarter
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 Posted 03/06/2012  5:22 pm  Show Profile Check barryg's eBay Listings Bookmark this reply Add barryg to your friends list Get a Link to this Reply
Yup, I've got a $100 bag of Silver Walking Liberty halves in my shopping cart over at goldmart.com and I'm just waiting for silver to hit $30 before pulling the trigger. Half of me wants it to keep dropping so I can buy more, and half wants it to start skyrocketing again so I can feel better about the stuff I already bought...
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 Posted 03/06/2012  5:52 pm  Show Profile Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply
Yes, the price of gold and silver is truly a push-pull kind of emotional ride. We all want to buy cheaper and sell or keep at higher prices. There really is no satisfying us! lol

It will be interesting to see what the low is for this pull-back. Gold is showing some surprising weakness now and could be about ready for a buy-in at a reasonable price. Silver is also coming down quite a bit. It's hard to look at any price that is less than about $35 and not want to buy some.
Valued Member
United States
289 Posts
 Posted 03/06/2012  6:04 pm  Show Profile Bookmark this reply Add VetStudent to your friends list Get a Link to this Reply
Somewhat dissapointed, but the bright side is to buy more!
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62 Posts
 Posted 03/06/2012  6:15 pm  Show Profile Bookmark this reply Add coincollectorjj to your friends list Get a Link to this Reply
I bet silver hits the $20s again here shortly. The stock market is WAAAY too high, and silver/gold will drop with it due for it's correction. But the PMs will hold up better than the stocks. It sucks either way though.

New Member
United States
19 Posts
 Posted 03/07/2012  01:34 am  Show Profile Bookmark this reply Add mike466 to your friends list Get a Link to this Reply
i hope gold drops to under $100 )))
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 Posted 03/07/2012  05:53 am  Show Profile Bookmark this reply Add Bryan1315 to your friends list Get a Link to this Reply
since Gold has been dropping along side of Silver it may be a good sign for the economy and may actually keep falling for awhile this time
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331 Posts
 Posted 03/07/2012  10:25 am  Show Profile Bookmark this reply Add BuffaloBonehead to your friends list Get a Link to this Reply
If gold and silver drop, let's hope that oil and gas go down too. I don't think I can take $4 a gallon gas and $20 an ounce silver at the same time.
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264 Posts
 Posted 03/07/2012  11:03 am  Show Profile Bookmark this reply Add rgathright to your friends list Get a Link to this Reply
I remain bullish long-term for silver and just see this latest pullback as manipulation of the markets. In other words, I think the banks are trying to see how much demand there really is for PM's.
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United States
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 Posted 03/07/2012  11:08 am  Show Profile Check barryg's eBay Listings Bookmark this reply Add barryg to your friends list Get a Link to this Reply

Quote:
It's hard to look at any price that is less than about $35 and not want to buy some

This is the part I have problems with. I agree, but it's only because silver briefly spiked above $37 last week. Until that time, buying at $32-34 really didn't interest me that much (especially since I bought a large chunk of silver at $26-27 at the end of last year).

I'm convinced this urge to buy right now is purely a psychological knee-jerk reaction to that brief spike (at least for me) and therefore will force myself to hold off until (if) silver drops to below $30, which is where I would have felt comfortable buying a few weeks ago. Because other than that spike, I really don't see things being much different now than a few weeks ago.

Note that I'm just talking about bulk junk silver purchases here. I did recently pick up some ATB 5 ounce coins as well as a nice kilo silver coin, but the prices on those weren't tied directly to spot price.
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 Posted 03/07/2012  11:38 am  Show Profile Bookmark this reply Add rgathright to your friends list Get a Link to this Reply
@barryg I see ATB differently as well because of the price paid back in 2011 for many of these was so high ($45 p/oz). Getting them while the market is low is a value play IMO.
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 Posted 03/07/2012  3:44 pm  Show Profile Bookmark this reply Add SilverEye to your friends list Get a Link to this Reply
I will double my weekly buy allowance if silver goes back under $30. If it goes under $20 an ounce, I am selling everything I own and loading up.
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4008 Posts
 Posted 03/08/2012  6:14 pm  Show Profile Bookmark this reply Add Ed_B to your friends list Get a Link to this Reply

Quote:
The stock market is WAAAY too high, and silver/gold will drop with it due for it's correction.

I agree, cc-jj. The US stock market is over-bought at the moment and this is entirely due to 2 things. 1st, Uncle Ben and company have dumped about $5T worth of "liquidity" into the market in the past 3 years; and 2nd, Europe is rocking and rolling with all their debt problems and no one knows how or even if they will be resolved. In past recessions, the growth in the US economy was the engine that produced higher stock share prices. With $5T of extra cash sloshing around in the market, that alone has caused share prices to be bid up as those holding that cash look for ways to put it to work. A 15% share price correction sometime this summer would not surprise me a bit.

I also agree that PMs are more likely to come through this better than most stocks. Dividend paying stocks will likely fare the best, with utilities next, and consumer staples last. Everything else is likely to get hammered.

Once I have sold off a major portion of my paper assets, it will be time to... go fishing.
Pillar of the Community
United States
897 Posts
 Posted 03/08/2012  9:53 pm  Show Profile Bookmark this reply Add junior e to your friends list Get a Link to this Reply
The stock market is a joke at these levels. Anyone buying in now is crazy.
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