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 Replies: 14 / Views: 1,651 |
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Pillar of the Community
United States
3670 Posts |
I just noticed tonight silver crossed 31 and is on the move early and gold back to 1675....
This is obviously a significant increase from say the last 6 months of 1 dollar gained an lost sideways movement....
I think right now is a good time to keep stacking AMAP (as much as possible), for the time being....
But with a looming election and the typical winter months not far away, how long can we really expect this climb to go?
I think 1750 an 35 per oz. is your late summer early fall peak, will be fun to watch an see what happens as always.... Edited by Silverhawk74
08/26/2012 10:55 pm
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Bedrock of the Community
13014 Posts |
I really dont know for this. The election is kind of the wild card that depending who wins could cause a spike or drop initially and then the whole 2012 thing. My best guess is itll be pretty unstable through the end of this year and early part of next year
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Valued Member
United States
385 Posts |
Based on my analysis I predict a climb to $40/oz by the 2nd week of next month, we've already been there. If you look at the graph of silver and gold prices the upwards climb is strongly apparent. I would say that $33 is certainly the line of support for silver.
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Bedrock of the Community
United States
10982 Posts |
Fall and winter are the best seasons for PMs. Good chance we'll see $40 silver and $1800 gold within 6 months.
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Pillar of the Community
Canada
1723 Posts |
Quote:
Based on my analysis I predict a climb to $40/oz by the 2nd week of next month, we've already been there. If you look at the graph of silver and gold prices the upwards climb is strongly apparent. I would say that $33 is certainly the line of support for silver doesn't it work that 33 would be a resistance line until it is breached by a particular percentage point, hold there and THEN it becomes a support line? I think thats the way it works. Edited by samsnate
08/26/2012 11:50 pm
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Pillar of the Community
United States
1195 Posts |
Silver is getting painfully close to a point where I do not want to buy.
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Pillar of the Community
United States
808 Posts |
Silver is still a strong buy in my opinion, especially in the low $30s. DCA works both ways. I wouldn't be too concerned buying into the early stages of a rising market. However, if you've got a monthly buy budget, just be sure to stick with it.
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Pillar of the Community
United States
1119 Posts |
I'm going with it will take a slight downward turn just about the time the markets in the US open today and same for the next couple days. Each day that follows will show about .25- 1.00 growth up to 35.00 by Wednesday next week. Level off there and show some sideways movement up and down during the day by as much as 1.10 but close within a quarter each day. Until the election then all bets are off.
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Pillar of the Community
United States
5855 Posts |
Well, while visiting DC the other day I decided to stop at the U.S. Mint and buy myself a
2012 American Eagle Gold Proof Four-Coin Set as a souvenir, thinking that the price of gold was starting to go up and I should get the set now before the mint decides to reprice it.
Which means, of course, that the current uptrend should be just about over and we should see a dramatic drop in prices any day now...
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Pillar of the Community
United States
5832 Posts |
Barry,
You can buy another gold proof set to break even by the time gold head back upward.
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Pillar of the Community
United States
2120 Posts |
I think given all the unknowns right now;
- Next QE
- USA Presidential Election
- Euro Financial Problems
- Recovering Economy
- China making a move for world reserve status
Everyone needs to remember that everything is speculation until it is not. Do your own research and make your own educated decisions.
With that said; I think we're going to see some profit taking and pull back on Tuesday/Wednesday and challenge a $29 support line. with gradual gains into September. Today I am not buying, but if we end the week between at or below $29, I will be looking to continue purchasing.
I am bullish on silver
I am bullish on platinum
I am indifferent on gold.
happy stacking everyone.
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Pillar of the Community
United States
5855 Posts |
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You can buy another gold proof set to break even by the time gold head back upward. Nah, my wife wasn't too happy with the purchase in the first place. My wife is funny when it comes to PM. She is absolutely 100% convinced that silver and gold prices are going to go through the roof and stay there, but she doesn't know when it will happen and thinks that prices will likely drop before heading north. As a result, she tells me to go ahead and buy a lot if, say, silver prices drop back down to the low $20s and complains if I buy "too much" at the current prices. It's just as well, though, since I am not 100% convinced that silver and gold prices will go high and stay there. I think they probably will, but I'm not willing to go all in and convert our entire life savings to PM in case they don't. |
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Pillar of the Community
United States
863 Posts |
If it goes up to 40 in the next few weeks I'm gonna sell some of the junk that I have been buying
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Pillar of the Community
United States
5855 Posts |
Hmmmm.... How for does it have to drop to be considered "turning south"? I was hoping to see them continue their upward climb today, but they both took a pretty big hit at around 2:00 EDT today and haven't bounced back yet.
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Pillar of the Community
United States
4008 Posts |
Quote:
My wife is funny when it comes to PM. She is absolutely 100% convinced that silver and gold prices are going to go through the roof and stay there, but she doesn't know when it will happen and thinks that prices will likely drop before heading north. As a result, she tells me to go ahead and buy a lot if, say, silver prices drop back down to the low $20s and complains if I buy "too much" at the current prices. Lots of people ate like this. They only want to buy stocks (or PMs) that go up!  I feel for ya, Barry. I have pretty much the same problem at home. My wife smiles indulgently when I buy silver but refuses to buy any for herself. This is extremely frustrating because I know that she has more than $100k that she inherited from her Mom in 2009 that is just sitting in a savings account.  |
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Replies: 14 / Views: 1,651 |
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Posted 08/26/2012 10:53 pm
