Gold Up Sharply

It feels good to see a nice jump again. A few months back I was really getting used to those thirty to fifty dollar jumps. Maybe we'll see some of that for a while now. I certainly hope so! Last night in Asian trading gold and silver were down, an then recovered. Glad to see it still in the green today.

Well if it gets to $1750 I am selling 4 ounces so hope it gets to that will keep all my silver and some gold but going to bail out on the last gold I bought high.

"Well if it gets to $1750 I am selling 4 ounces so hope it gets to that will keep all my silver and some gold but going to bail out on the last gold I bought high."

Well Brucec, it gets real close to 1750, then pulls back a few bucks, an repeats. Makes me think there is a larger number of people thinking like you right about now taking some profits, then people that are buying....

I scratched my head real hard an thought about it as well. But I think I will hold off to sell around $1950 if it gets that high. Set on the money for a couple of months, and buy back in if it does pull back to $1600 again before the year ends....

I tell you Ed, I just got back on here an checked gold late Sunday night about 11:15, and the first thing I noticed was a pull back several hours into the Asian market tonight. Gold back down to 1715 (nothing major), and silver pulled back to about 34 and a half. They are dumpin an selling for some reason to start this new week and will be interesting as always to hear some of you guys solid theories on what caused that exactly, via the Europe situation, etc....

As far as your question Ed on another pullback in the latest part of the year, I do expect it. All based on a few other wise posters here, who have closely monitored the prices in many past years, charts etc.. And no doubt there is a semi predictable pattern I see. Of course I am still a major amateur at all involved with the Pm world, and in this most uncertain/unstable/unpredictable times, via Europe an all our debt an political quagmire. But who is to say those patterns will indeed hold true, even though I do expect them to.....

Again, I do expect a slow climb from Jan to mid May, via 5 bucks a month or so via silver, an 50 (sometimes a 100 even) bucks a month or so for gold....

As far as your gold /silver question Ed, I don't know just yet. Silver's volatility bothers me as I have mentioned being so small still yet being a real gamble for me, not that all Pm's are not a gamble to begin with. I tell you what, I am impressed it made it through all that fall, an only dipped below 30 bucks, early that one Monday morning for a few hours....

If it holds its ground until Jan an starts back up, I may repeat my silver buying again, but much more cautiously this time around, verses buying from every Tom, Dick, an Harry sellin metal on ebay, lol....

Well, we all know that currency prices have a direct and immediate impact on the PM prices, so nothing new there. Predicting what the currencies will do is next to impossible, IMO. Because of that, I just buy some silver from time to time and call it good. Some of it is cheaper than others but that's OK. I really do believe that there will come a time when we all look back on these days and just shake our heads at how cheap both silver and gold were "back in the day". By then, gold could be $5-6k an oz. and silver $250-400 an oz. If silver does hit $250 an oz. or more, none of us will care whether we bought it at $30, $40, or $50 an oz. The only thing that will matter at all is whether or not we have some.

Speaking of this... I had a really weird dream the other night. In the dream, the entire world was in a terrible deflationary depression that was worse than the 1930s. Store shelves were almost empty and money and jobs were scarce. For the people who had gold and silver, though, there were special stores with shelves filled with fresh high quality produce, dairy, eggs, and meat. These were the only stores where you could find and buy these things. We bought 4 large bags of good food for about $2 in US 90% silver coins. They also had a "change booth" where one could trade silver or gold coins and ingots for store credit. There were half a dozen guards in and around the store armed with automatic rifles. They made sure that only gold and silver owners came in and that no one could steal any of the food products. Most of the shoppers were armed as well. It was so real that it was just plain creepy. Except for the armed shoppers, it reminded me of a picture of a GUM store in the old USSR back in the 1960s or 1970s.

Nice link SA4hire, as you are always ahead of the curve on what is going on IMO, and your theory makes sense to me anyway....

I think that was a very accurate premonition of the future, instead of a meaningless dream....

Your dream is already in motion Ed, as I noticed a great between commercial info from Gold Rush this past Friday. They said there was something like 1500 ATM's throughout the country now, which dispense gold an silver, and we have seen the pictures posted here from the ones in Asia. I did not realize we already had them over here.....

Great point as well Mmerlinn, as the double win senario is pretty full proof IMO....

That fish tank story is beyond the weird coincidences of this world. The odds of that tank cracking like that thirty seconds after the comment is like 1 and 100 trillion, lol....