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 Replies: 5,643 / Views: 459,735 |
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Pillar of the Community
United States
1205 Posts |
Yes zack..all of our miners are in "recovery mode"...need gold past 1200, silver past 17.50 for next push.
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Pillar of the Community
Australia
7096 Posts |
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Yes zack..all of our miners are in "recovery mode"...need gold past 1200, silver past 17.50 for next push. Gold has broken through the $1200 mark But Silver keeps trying but can't seem to push through the $17 mark yet. |
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Pillar of the Community
United States
1026 Posts |
Don't get too excited just yet - we have a long way to go to get out of this downtrend: Silver  Gold  |
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Pillar of the Community
United States
1450 Posts |
If you bought silver at $18 an ounce how much would it have to rise for you to make a real profit given all the transaction costs and storage costs? Same for gold. If gold hits $1250 and you buy at that price how much does it need to climb before you can make a profit given expenses? It does seem to me that if you take a lot of money and invest in PM's you will soon have a small pile of money. I have not been collecting coins or bullion for 20 years but I have never made a dime trading in those markets. I have consistently lost money. I have bought miners, actual gold and silver and lost money every time.
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Pillar of the Community
Australia
7096 Posts |
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I have consistently lost money. I have bought miners, actual gold and silver and lost money every time. If you sell for a lower price than you buy for of course you will loose money. The secret is don't sell unless you can make a profit. Making short term investments in PM's is very much a gamble and they are a better option as a long term thing. I sold all my physical Silver a few years ago at about $46-$48 and bought some more at about $16 recently. I will simply hang onto it until the price is better  |
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Pillar of the Community
United States
3079 Posts |
I'm not really into the PM to make money short term, I buy so the grandson will have something when I pass. Him being 3 currently I hope that it will go up by the time he gets it. Making money short term from what I have read and seen on here and in life in general you have to be more lucky than good. And when he gets it I will beyond caring what it's value is!
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Pillar of the Community
Canada
3049 Posts |
My Two Cents is that generally PM's are pretty poor "investments" but great hedges against inflation. To me it's of little consequence if over the long term silver (or gold) go from $16 to $32.. if the cost of all other items have also doubled. PM's are more of a hedge against inflation. I say there's better ways to profit from PM's in the short term than long. But that's certainly just my opinion. IMO gold and silver are just going sideways for now.. which is just fine by me... I like to buy it right now when I can and I don't really care if I'm buying at $15 or $17. If I was looking for investments... personally there's other markets that are better... |
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Pillar of the Community
United States
606 Posts |
@AgCoinAu,
Interesting post. I wasn't following PM during the big moves in silver and gold. However, even though PM prices were high, it doesn't seem other prices were moving very much...up or down. How do you attribute these types of events with regards to being a hedge?
Thanks.
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Pillar of the Community
Canada
3049 Posts |
The biggest peak that we had in PM's in years I would attribute to one simple thing... the "paper trading" of PM's. Once it became requred that those selling shares of a commodity had to actually have the in their posession a certain % of the hard assest the demand was HUGE and while many corps were over paying for the PM's it was necessary them to have stock and so they bought and bought and bought and the prices rose... once they had enough the demand subsided.... prices fell back down and we're experiencing that correction and the ripple effects. Now I believe we hit the bottom price around 13-14 dollars and in effect the price of silver and gold will rise very similar to the rise in PM's in the past over the last 20 years... 3-4% per year .....
Any deviation from this I believe is the result of momentary swings due to demands in the market that will over the big picture even out over time.
So I like silver... and gold.. and I buy them... but I don't consider them an investment... mearly as a small portion of my portfolio to hedge against inflation..
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Pillar of the Community
United States
1450 Posts |
A hedge against inflation or economic melt down like in 2008-09. If the world ever loses confidence in the dollar with us adding debt by the trillions of bucks every year gold and silver may look pretty good as a hedge. There is noting besides good faith behind our dollar. There is no constraint on the Fed printing money except outrage coming from somewhere? Our money is backed by hot air as in a balloon.
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Valued Member
Australia
491 Posts |
It is very sad if you only think PM's will make you money.
It looks to me that the miners shares made more than straight PM's.
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Pillar of the Community
United States
574 Posts |
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There is nothing besides good faith behind our dollar. No, there is an IRS which demands trillions of dollars every year. I suppose you could argue, that's "faith," as in, if you don't pay your taxes you have good faith you'll get audited and go to jail. |
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Pillar of the Community
United States
7390 Posts |
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Pillar of the Community
 United States
3789 Posts |
Guys sorry, havent had time to dedicate here, as we position for the year and start building lines and positions and time has been at a premium, I havent even done much coin collecting.
Bottom line- gold and silver REMAIN in up trends, last year they never ever hit yearly lows. It doesn't matter that they pulled back deeply last year, that is just how the current up trend will be, with very deep sharp pull backs in price, not in time.
There are a lot of other prettier up trends in the market place right now than in gold and silver and I think until things change, this is how the up trend in gold and silver will be, not a pretty, easy one to ride out.
Across the board, many mining charts do look nice and constructive. Look at PAAS which has been breaking out higher. Other miners such as ABX and RGLD are looking very constructive.
Until those yearly lows are crashed and officially hit, gold and silver remain in up trends, doesn't matter if they pull all the way back. From last years price action you should take note- you must buy right, buy early in the uptrend, at the start of the uptrend, to ride out the emotional ups and downs.
Don't think you can just laugh at tried and true trading strategy, such as buying yearly highs and selling yearly lows, otherwise you risk looking like a fool. Gold and silver are not done in completing their moves.
Finally, a quick look at the PMs-
gold with another break out in the shorter time frame. Look to see if gold can continue these range breaks in the coming weeks. Silver did break out higher today, in a shorter time frame but is pulling back as write this. Again, as with gold, look to silver can continue working its ranges, or bases and break higher from them.
If I have time this week I'll post some charts up and we can look at whats been happening.
In the meantime, just be patient with gold and silver. Expect these wild moves, eventually they will resolve, if you been paying attention, you will notice MOST commodities exhibited this same price action as gold/silver, take a look at cotton, sugar, coffee and I can go on and on.
If you feel you cannot grasp this sort of price action and behavior nor comprehend and accept it, then my suggestion would be to stay away from commodities.
As always, follow the price action, be patient and dont allow your opinion to cloud your judgement of what is actually happening.
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Pillar of the Community
United States
1132 Posts |
Quote:
Bottom line- gold and silver REMAIN in up trends, last year they never ever hit yearly lows. It doesn't matter that they pulled back deeply last year, that is just how the current up trend will be, with very deep sharp pull backs in price, not in time.  Quote:
I am not interested in taking a stance whether I am in the pro PM camp or anti-PM camp.   Quote:
Until those yearly lows are crashed and officially hit, gold and silver remain in up trends, doesn't matter if they pull all the way back.  Quote:
Where does gold and silver drop come to an end? The market will eventually decide that. Quote:
As silver and gold fall, they will fall into areas of support from previous times where buyers have bought the PMs.  Quote:
4- Silver and gold are going down as evidenced by the price, which is going in the path of least resistance, which is down.  Quote:
2- We have resolved a trading range in gold that also broke to the downside, along with volume to prove it. Quote:
6- As the prices fall and with rapid speed, don't be surprised to see prices come back and bounce back up. Quote:
If you feel you cannot grasp this sort of price action and behavior nor comprehend and accept it, then So am I the only one left feeling conflicted by the often contradictory and sometimes condescending posts?  |
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Posted 01/12/2017 02:51 am
