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 Replies: 37 / Views: 2,959 |
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Pillar of the Community
United States
1450 Posts |
GDP numbers and the debt stalemate are scaring folks! Could be a good day for PM's!
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Pillar of the Community
United States
3345 Posts |
I saw the graph and jumped! almost straight upward line!
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Pillar of the Community
 United States
1450 Posts |
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Pillar of the Community
United States
830 Posts |
 But you know what's up today even more than gold? FXF (Swiss Franc ETF) is up over 2% overnight. I've been watching it looking for an entry point, I hate to chase it but I might have to. Edited by GoThunder
07/29/2011 10:15 am
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Pillar of the Community
United States
3670 Posts |
Last Friday the market closed at 40 buck silver an just over 1600 on gold. Looks like this week it is gonna end with 40 dollar silver and 1625 gold....
This ridiculous silver suppression continues, while gold gains another 25 bucks, but for how long?
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Valued Member
United States
228 Posts |
Silverhawk74: I consider silver at $40 an ounce a gift. When it goes to more than 40-1 vs gold - consider it a godsend... I will be buying about $5000 worth of silver on ebay soon... Most people STILL have no clue (thankfully). Best, LastGold |
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Pillar of the Community
United States
1450 Posts |
Silverhawk,be patient,this is better than up and down like a yo-yo. Things will sort themselves out by Monday and we will have a better long term outlook.Buy while you can at these prices because we may never get back here again!
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Pillar of the Community
United States
931 Posts |
I say $1700 by Labor Day if not sooner. If the debt ceiling is still a mess by August 3rd it could be $1700 next week. I look for a lot of talk over the weekend about Social Security checks and Medicare. I'm sure they will put all the sweat on the little guy instead of talking about Government employees not getting paid or Federal pensions not being paid. Those dirty rats are going to make the civilians sweat it out instead of themselves.
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Pillar of the Community
United States
1450 Posts |
They always do,then when they finally get the job done they will crow about how they saved you and the world from those"other guys" so you should vote them back in! Scumbags!
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Pillar of the Community
United States
830 Posts |
Yeah I would volunteer to choose where to make the first cuts in out going government checks...I'd start with the first lady's tax payer funded air travel.  |
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Rest in Peace
United States
4849 Posts |
Wow, just noticed it hit an all-time high again! I personally think that gold and silver will correct and fall a bit when they finally come to a budget decision(they pretty much have to raise the debt ceiling). No matter what they decide though, I don't see us getting out of this mess any time soon, so I think gold will continue it's trek up in the long term....but I think I'll wait a while to buy and see what kind of temporary correction will occur.
Edited by johnny54321
07/29/2011 6:15 pm
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Pillar of the Community
United States
648 Posts |
I agree that Gold will correct itself in the high 1450-1550 range.
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Pillar of the Community
United States
830 Posts |
I'm not selling any of mine but I might buy some cheap out of the money puts in GLD Monday.
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Pillar of the Community
United States
860 Posts |
Quote:
This ridiculous silver suppression continues, while gold gains another 25 bucks, but for how long? I am hazy on why you think this might be suppression. If a person/company offers over the spot, they can get the silver. The problem is that there are others ( more)who are happy to sell at that price. If they couldn't obtain the silver at the increment, then one could say suppression, but the fact seems that there are not enough buyers for the number of sellers. Gold on the other hand is showing its value for a hedge in the unsure financial situations here and world wide. It goes up because there are more people wanting to hold it under the current conditions. Puts on GLD would be a good hedge if one has a lot of gold, but dangerous if the US was downgraded even though the debt ceiling was lifted, as I think that is the "Hammer" rather than the actual debt ceiling. The European crises are also part of it. Now all we need is Israel bombing Iranian nuclear plants or another natural disaster. However, I still suspect that 1700 is fully as possible by years end as is 1400. That is why many who could drive silver up are sitting on their hands, not willing to commit into such a chancy time in the world. IMO. |
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Pillar of the Community
United States
1026 Posts |
Well just read a very interesting financial report can't copy and paste it here as it is (C) anyway to make a long report short it said gold and silver will continue up for a couple days till the deal is made. Then it will go down some for awhile maybe see silver at $35 to $30 and Gold maybe back to $1500 but when our credit rating goes down and it will no matter what long store he explained it all then Gold will go through the roof and silver will follow.
I am waiting till after they make the deal of whatever in the senate then hoping silver will go back to the middle or low $30. then I also plan to get at least $5,000 more maybe more.
Why is gold goes up another $1000. per once that $5,000 can not buy much gold but allot of silver and I feel silver in the next year or tow we will see $150.00 per ounce.
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Pillar of the Community
United States
4008 Posts |
I heard a comment from the CEO of a major gold producer that he thought that gold would be selling for $1750 an oz. sometime in 2012. From the way that things are going, that may be conservative.  |
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Replies: 37 / Views: 2,959 |
Posted 07/29/2011 09:34 am
