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 Replies: 12 / Views: 1,482 |
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Pillar of the Community
United States
1450 Posts |
10:30 am Eastern time and both gold and silver are on the way up. Gold is up$12/oz and silver up $.13. Lets see what happens. This is about the time of day metals get slapped down but it seems the "operating ranges" are slowly creeping up.
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Bedrock of the Community
United States
36782 Posts |
I don't think the increases will hold. Hope everyone that wants to add to their stash is doing so while the metals remain flat this summer.
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Pillar of the Community
United States
2120 Posts |
I expect it to rise, but hope it drops.
Im in buying mode.
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Pillar of the Community
 United States
1450 Posts |
11:35 and still rising. May hold today,we'll see!
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Valued Member
Canada
178 Posts |
Gold is looking strong, silver to a dip and fought back. Everything is up this morning so it might hold till something beats it down tomorrow.
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Bedrock of the Community
Australia
21788 Posts |
The financial institutions are buying U.S. dollar securities, rather than Euro based ones, which is making the U.S. dollar stronger. PM prices are drifting up with it.
The current relative strength of the U.S. dollar against other currencies is making the Aussie dollar a bit weaker, despite the relative stability of the Aussie banking sector and base metal prices.
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Pillar of the Community
United States
1450 Posts |
Sel,I noticed the US and Aussie dollar were just about at par yesterday. If the US gets financially dragged into the European miasma(via the IMF ),the Aussie dollar could gain big time and probably do it quickly.
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Bedrock of the Community
Australia
21788 Posts |
The Aussie Dollar ain't all THAT great. If the minerals prices decline significantly, the AUD would be toast. At the low point of the mid 1990's or thereabouts, a U.S. dollar could buy TWO Australian ones.
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Pillar of the Community
United States
3670 Posts |
I prefer to see PMs moving up on Monday, Wed, and Fridays, instead of Tues an Thurs....
Numbers add up, and seeing as how the market runs like 6 out of 7 days a week, you need 4 good days, an 2 average or bad ones according to my math to start making strides again. I think we will see this trend of more strong days then weak for PMz the next couple of months....
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Bedrock of the Community
United States
36782 Posts |
If the European Basel Committee for Bank Supervision follows through with moving gold from a Tier 3 (riskier asset) asset to a Tier 1 (safer asset), we might see a big pop in the price of gold. Looks like this won't happen until later this year as Basel III kicks in January 2013. Maybe these current lower gold prices are meant to help banks stock up on gold at lower prices before the European banking rules change? I might have to back off buying silver for awhile and go for the gold. http://www.commodityonline.com/news...3-48319.html |
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Pillar of the Community
United States
1450 Posts |
Gold on a nice steady climb this morning. Silver is stable but stalled. It could be an interesting day for metals.
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Valued Member
United States
404 Posts |
Quote:
Gold on a nice steady climb this morning. Silver is stable but stalled. It could be an interesting day for metals. It's like reminding your pitcher he has a perfect game through 8 innings... |
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Pillar of the Community
United States
1450 Posts |
yep,it's now 10:55 eastern time and the gold price has dropped $6. The regular morning smackdown has occurred and now we see what happens the rest of the day.
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Replies: 12 / Views: 1,482 |
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Posted 06/12/2012 11:10 am
