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 Replies: 17 / Views: 3,096 |
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Pillar of the Community
United States
1450 Posts |
Gold up almost $30 at 8:25 am eastern time. Silver up $1.11. Now we need to see if the usual "smackdown" comes around 10 am!
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Bedrock of the Community
United States
36770 Posts |
Gold now up $44, what's going on?
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Pillar of the Community
Australia
7096 Posts |
Maybe the manipulators may have run out of options   |
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Bedrock of the Community
United States
36770 Posts |
It has got to happen sooner or later. I think what will happen is that physical metal will trade much higher than the manipulated paper price.
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Pillar of the Community
Japan
666 Posts |
USD is down, all commodities - up.
nothing unusual.
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Pillar of the Community
United States
5855 Posts |
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Gold and silver both moving up nicely Yep. And that's because I considered making another purchase yesterday but decided to wait and see if silver would drop below $26. If I buy, the price goes down. If I wait, the price goes up... |
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Bedrock of the Community
United States
36770 Posts |
barry you have the markets figured out...only backwards.
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Pillar of the Community
United States
1064 Posts |
Whatever the reason, gotta say, I like it!  |
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Pillar of the Community
United States
1391 Posts |
U.S. Dollar is down a couple of points. Means silver stayed the same but you lost purchasing power. Everyone is probably dealing with the financial uncertainty of the health care act.
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Pillar of the Community
United States
5832 Posts |
There's nothing to back up the US dollar except our politicians word, but you know better not to Trust it at all times.
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Pillar of the Community
 United States
1450 Posts |
I think the Euro is strengthening because of the "agreements" made in the Eurozone meetings. Sounds like they will be dumping a bunch of money in the system too. This could be another strong run-up.
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Pillar of the Community
United States
4008 Posts |
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Now we need to see if the usual "smackdown" comes around 10 am! It could be quite profitable to get those puts in early.  Quote:
There's nothing to back up the US dollar except our politicians word, but you know better not to Trust it at all times. US coinage and currency carries the motto, "In God we trust". There's nothing on there that says, "In politicians we trust" or "In faceless nameless bureaucrats we trust"!  |
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Pillar of the Community
United States
1026 Posts |
Well they are trying to fix the worlds financial mess with worthless dollars sooner or later the bubble will break,
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Pillar of the Community
United States
2424 Posts |
pretty soon there will be no more " IN GOD WE TRUST" soon, all coins will be gone. did you see last sunday morning CBS show. very interesting segment on digitizing the monetary system. we are already doing it, but they say it will take 20years to completely phase out physical currency, and then everyone will do what they do now.. just use the internet and CC's. aside from this amazing hobby, I rarely carry cash/coins anymore.. or write checks. all of my bills come out automatically... but in my opinion, it will never happen.
oh right, silver.. about that....i think also what we are seeing as less interest in silver and gold as a safe haven... for example. my father-in-law moved a substantial amount of money in his 401k or mutual stocks, or whatever he has, into silver. seeing as last year and earlier this year silver had been doing great. so his financial manager says " yea! go for it. silver is doing great. invest." well, now we see it back down almost $10 from some points last year.
my point is, common folk like my father-in-law, do not understand the volatility of silver. it seems to have much more of a place in industry than it does as a safe haven. and what I think is going on is we are seeing an actual realized value of the metal, all metals for that matter. '
i dont know. I'm no finance expert. all I know is that is you have an investment in silver, it seems that you can let your self get stressed easily because its been pretty volatile... if your not a player in this game DAILY, buying, selling the stuff, then you could take some pretty hefty loses...
as for coin collectors, seems like if your going to go spend $25-$30 on 1 oz of anything, get a key-date or mint state coin that will hold its value despite the continuing market swings of the precious metal.
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Pillar of the Community
United States
4008 Posts |
Yes, the fiat price of PMs is volatile but virtually all of that volatility is due to the weaknesses and failings of unbacked paper currencies. Compare the prices of gold and oil sometime and you will see that most (but certainly not all) of this volatility disappears.
PMs definitely have a place in most portfolios but that place is likely to be as 5-20% of these invested assets. It is easy to get out of these suggested bounds by not having any PMs or by "going all in" with them. Either of these extremes is likely not to be as good as a well balanced and diversified approach to investing. Also, any money invested in PMs should be longer term money... 4-5 years or more. Time will iron out some of the volatility of PMs as well as being diversified will.
Those of us who have been watching the investing, political, and economic news quite closely are aware of the stresses in the fiat currency system, how difficult this is to fix, and how little the politicians are interested in doing anything useful on this during their term of office. The current economic and political approach really is not sustainable. Like a pressure cooker with a plugged pressure relief valve left unattended on the stove, it will come apart at some point... but no one really knows when that will be.
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Pillar of the Community
United States
1450 Posts |
Looks like the metals are off to a good start. Gold up over $10 and silver up 50 cents. It could be another good day,at least a positive one.
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Replies: 17 / Views: 3,096 |
Posted 06/29/2012 09:01 am
