What Happens To Gold And Silver Next? Look Out Below?

lol

well but the the thing is, if this is the reason everyone is hoarding and buying gold and silver, I certainly don't want to be in those shoes.

Its all assuming the dollar will drop lower, that the dollar will collapse. QE has been talked about over and over, how bad this "debt" is. Yet, all that gold could muster was a puny almost 2K. That's it. Same with silver, it couldn't even go back to touching historical highs.

So now what? I mean really, a ton of QE and gold couldn't get over 2K. Oh wait, you guys can always fall back on the talk of "manipulation" .

I just dont feel comfortable with assuming that "gold and silver are going to skyrocket when the dollar goes down". Sorry I just dont buy that. So what if the government bans gold and silver? History repeats itself. Now what?

anyways, I don't wish you guys bad or ill, I just don't think its wise to count on something happening that you have no control over nor do you know what exactly would transpire.

I'm saving Gold and Silver. Like a Savings account. I'm sure you've heard of that. What people shouldn't hoard is Dollars. They rot and lose value. I'm not saying that the value of Gold and Silver are going to skyrocket Yup. I know it's hard to understand, so read this slowly. The value of Gold and Silver isn't changing that much. It's the value of the compromised and doomed dollar that is changing.

Money sitting in the bank is shrinking, inflation is faster than the interest. Gold and silver move up and down. Sell it when it's higher than you bought it and you made a profit. It's that simple.

And it's good to have a reservoir of value that's not so easy to spend. I call it a savings account. Savings accounts these days are worth tying up funds for the rates you get, so I use silver.

Also, I have not bought back any more silver than I have FOUND coin roll hunting. I have found a few grand worth CRH, so I buy and sell and stay within that window.

Youre contradicting yourself here though. If the dollar is worth less and less then the price of silver has to be constantly rising to stay the same value. That really only has been the case for about 4 years of the last 30. Theres a reason why all the silver sites start their chart in 85 or 86.




Theres certainly nothing wrong with that at all. Definitely much better than just blowing that money on things that dont hold value at all or 100 plus dollar bar tabs. My objection to that doesn't start until someone takes the next step saying thats all you should have or it should be the majority. As a percentage diversification is never a bad though and something that every portfolio should have

Yup7676 US Dollar is done,,finish,,get ready for a new world order buddy...The crime rate in the US alone is one of the worst in the world..People should buy all the silver they can get now and double or triple their money in next decade or so.Stock market is joke.Dollar is a big fat joke...Miners almost all hate their jobs hate their jobs,,unions will keep trying to keep them from getting more sick,paying them more every year and silver,base metals will keep going up from the last long low,past the last biggest high go read a 30 year chart for silver and base metals,dollar not doing anything,those under 28 do not care about the dollar or metals,,they just want to be paid,,get on their computers,phone,,silver could go up to $1000 or more a oz,,the dollar will be abused till its gone,,new world order,Cosmos

theres several problems with how Broseph reads the charts, he is completely wrong. In fact its very hard to understand what he is talking about because he mixes in so many things.

So, while I have no problem with Bro trying to use charts and I encourage him greatly to continue to follow price action, I feel I must correct and point out where he is wrong. Please dont take it personal either, I understand you dont deal with this sort of thing everyday as I do, so again, dont get offended but I am going to point out why and where you are wrong.

1- the first problem with Broseph and his posting is his time frames. He bounces around talking about different time frames. Time frames are first measured from the context of long term and then broken down into shorter time frames. Using a one year time frame tells us nothing at all about gold and silver.

2- he rambles about "no one knows, it could go lower, it could go back up." That is an incorrect statement. price action on various time frames tells us exactly along with confirmation if a floor has been put in and whether some sort of top has been reached AND tells us the general direction of an asset.

He also doesn't understand that no one can exactly nail a top and bottom. The point is NOT to find the bottom or nor top, but rather get confirmation that an asset has stopped moving lower or higher. Only fools call tops and bottoms as one great trader said.

3. He talks about 2010 and upward movement and then suddenly fell. He also talks about "without tapering off" which I have no clue what he is talking about. But allow me to point how he is incorrectly looking at 2010.

in 2010 gold and silver will still in their massive uptrends. within uptrends, there can be pull backs. However, so long as new highs are made, in a yearly context, the uptrend remains intact and continues higher.

So, how does someone get rich off this? Well I will share my experience.

I bought GLD in October 2005 at 47.70 as it made yearly highs. From there it continued to climb. It had several pull backs but continued to make higher highs, yearly highs. I continued to buy higher, next line at 55.70. I added one final time for my line at 72.09. I then observed the price and sat tight and finally cashed out this year at 125ish.

Do you the power and strength of the trend? It was running for years. Within this powerful uptrend, there were pull backs. But for every pull back, there were new highs established.

Now I am using my example for 3 reasons-

1- I have made a TON of money by sticking with trends because you make very large profits just by following a trend and sitting tight

2- Trends are POWERFUL and they go longer than you think. Just as gold and silver ran higher for a long time, they can also run lower than anyone can expect or think. Dont think for one second that this downtrend reverses itself because it has chopped around going nowhere. It is STILL in a downtrend.

3- this uptrend continued with higher highs and higher lows for many years. It did NOT make yearly lows within the uptrend. Right now, all we are getting and have been getting in this trend now going 3 years is lower highs and lower lows with yearly lows being hit. This is further proof of how we are in a downtrend.

So in conclusion, Broseph, I appreciate you making an attempt to read a chart. I highly encourage you to continue to try and get familiar with prices and their movements. I can suggest many free books and sources of info where you can sharpen and learn more about charting,t trading and price action if you are interested.

While you were wrong in how you read the charts, I tip my hat at you for at least trying. Nothing wrong in trying.

Cosmos-

my friend, I have a hard time understanding what you are saying exactly but I appreciate you chipping in on the thread. you are welcomed to contribute.

I guess my thing is... you know I am a trader. So, I dont care about what happens to anything. IF say the dollar went higher, I could care less. If the dollar fell, I could care less.

The ONLY thing I care about as a trader is making MONEY. Nothing more, nothing less. I dont care to be right. I solely follow a trend, So if everything falls apart, I will be sure to be selling things short. As assets run higher, I will buying to sell higher.

Bottomline, I really dont care at all about anything but making sure my trades are going in the direction per the MARKET not what I think or what. Thats what trading is all about.