Prices Of Pms Moving Nicely

Yes, both gold and silver have made some nice moves lately, especially today. The physical platinum fund (PPLT) that I bought a few months ago is looking good too.

Only question now is, "When will the CME and the bullion banks start thrashing on paper gold and silver to drive PM prices down?". That seems to be a recurring pattern of behavior. Could it be that Eric Sprott has influenced the market in a positive way yet again? Perhaps. A few of the larger silver producers seem to have taken his message to heart about holding part of their production as a store of wealth rather than selling it at reduced prices and banking the money.

Speaking of CME... I am wondering why there is no PM cartel. That seems to have worked for keeping the prices of oil and diamonds high, so why not PMs? Maybe it should be the producers of gold and silver who establish prices and not those paper-shuffling folks at the CME? Wouldn't that be a death-blow for all these paper shenanigans?

I say let the Commodity Futures Trading Commission go ahead and raise margin requirements on futures traders. That'll only make the decoupling between the digital and physical markets more apparent. And the "premiums" at which physical trades will continue to rise.

Gold has broken overhead resistance around 1750. The question is whether it can stay above that point.

Doesn't anybody else want it to stay low? I'm still a buyer!

very comforting indeed! even though it's all psychological unless I sell (reverse is true when there's a drop in prices)

Poboxw,psychological or not,it keeps the wife happy knowing we are not "losing money",and if mama's happy,life is good!

@hockingzig:

Another one of those facts that should've been on the marriage certificate in fine print :)
When the missus is happy, I get to buy invest more too :)

As far as I'm concerned the way to buy PM's is slow and steady, unless a major drop occurs.

Try to buy some each payday. That way you have a working average across your PM price. It is easier to look at that way.

When the price of silver is 50$ an ounce, and you started buying in a 12$ an ounce, that will drastically lower your average, depending on how much you are holding.

I also do not sell, unless I'm positive I can at least double what I paid. That happened last year sometime, when the price was right around 30$. I got out of about 1/3 of my holdings and doubled the money I spent on the entire "investment" (all of it, not just the 1/3).

Now, I still have 2/3 of my original "investment" and doubled my money. That way, I already made my "money" paid some debt with it and can move on. From this point, if the PM market crashes, it won't really matter to me because I already came out victorious. I don't see it tanking though, not with the world situation where it is.

I kinda miss holding the Johnson Mathey 100 ouncer though, that sucker was heavy!

Josh