Late Sumer Gold Run.... - Coin Community Forum

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Author	Replies: 4 / Views: 1,135
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 07/28/2012 1:09 pm Well after many weeks of stagnate movement for G & S, I see gold sprang from around $1575 up to almost $1625, or nearly a new level in my mind to close out week.... Silver seems to be spreading ratio wise from gold as it has only gained 50 to 75 cents or so along the way.... I could be jumping the gun on this and it may just be FALSE spike and lose it all back in early part of next week, but for some reason I feel G an S are gonna move a bit more before they take the south turn toward Christmas.... Of course with this being an election year and much up in the air with that an Europe all bets are off the table and really no way to tell what may happen, again just my gut feeling which has been all to inaccurate this year.... I feel my natural optimism as a person interferes with accurate readings of future movement.... One probably would get more sound advice from a magic 8 ball, lol.... Edited by Silverhawk74 07/28/2012 1:11 pm Report this Post to the Staff

traevin Pillar of the Community United States 1454 Posts	Posted 07/28/2012 4:28 pm Hawk, I noticed that right around the 1st of both June and July, silver and gold had a really nice sharp upward spike, as well; but alas, it was very short-lived. We'll see if this iteration is any different than the preceding two. But for those anticipating the inevitable (I guess) rally, the summer months are slowly receding into the past and the fall will bring new challenges to world fiat currencies, I think. How will the presidential election affect PMs? How about the ever-evolving euro crisis? China's overheated economy? Japan facing deflation once again? QE26? Report this Post to the Staff
cwb1877 Pillar of the Community United States 1659 Posts	Posted 07/28/2012 4:51 pm Well, I just bought $30 face in 90% along with 4 ASE's... which means it's pretty much a lock that the silver price will drop! Report this Post to the Staff
barryg Pillar of the Community United States 5862 Posts	Posted 07/28/2012 6:00 pm Nah -- that only happens when I buy a monster box, and I haven't done that lately... Expanded Digital U.S. Type Set Album \| Dansco 8100 (Lincon Cents) Album \| Digital Proof Type Set \| Digital U.S. Currency Type Set \| Foreign Bullion Coins Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 07/28/2012 6:29 pm You're right, T, there are many changes in the wind right now and that makes for a situation that is pretty much impossible to predict. My thought is that the fall election is THE big one in all this. If Romney wins, there could be a "relief rally" with stocks climbing to 14k or better... maybe even 15k. But this will likely be short-lived as reality sets in, trumping enthusiasm. If Obama wins, the market will probably tank, big-time. I'm thinking a 3-4,000 point drop. This too will be temporary, with the market recovering much of that over the following 6 or so months. In either case, I want about 75% of my money in cash and PMs while this gets sorted out. It is just too volatile and unpredictable to stay in this gyrating market with everything I have. As to PMs, I don't think that the election will have a huge impact on them directly but there could well be a sizable indirect connection. By this I mean that it depends a lot on what the stock market is doing at the time and whether or not people are trying to buy or sell stocks and mutual funds. If people want to raise cash to buy stocks, they will sell their PMs to raise that money. If they are afraid of what the market will do or is doing, then they will sell stocks to hold PMs and cash. Report this Post to the Staff
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