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 Replies: 12 / Views: 1,434 |
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Pillar of the Community
Canada
1723 Posts |
Well 24 later $1 drop. Haha, I love silver!  |
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Valued Member
United States
376 Posts |
Is it down to $5/oz yet? I wish I knew 10-12 years ago what I know now  |
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Pillar of the Community
United States
1374 Posts |
Better yet, has the Fed hit the presses yet?
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Pillar of the Community
United States
5853 Posts |
Just checked and things seem to be back up. For now. Gold @ $1713 and Silver @ $32.76 as of 8:39 EDT.
Let's see what happens in another hour or so....
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Pillar of the Community
United States
5853 Posts |
Holy cow! It looks like a REAL spike going on right now. Silver just roared past $33 and is still climbing.
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Pillar of the Community
Canada
834 Posts |
Huge spike in gold and silver
With a huge downward spike in the usd vs cdn dollar
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Pillar of the Community
Japan
666 Posts |
silBer is 33.33 now ...
let's see $50 again, then rinse and repeat ... but this time I'll sell some silver at these levels ))
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Pillar of the Community
United States
5853 Posts |
I'm guessing this latest spike has something to do with the disappointing jobs report that was released this morning ("The economy added 96,000 jobs in August, well below expectations, adding pressure on Federal Reserve policy makers, who have hinted they will act to stimulate the economy when they meet next week").
No idea how long it will last, though, before somebody attempts to depress the value of PMs via market manipulation as usual.
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New Member
United States
26 Posts |
wow silver is still climbing, I'm thinking we could close the day above $34
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Bedrock of the Community
13014 Posts |
Cant hurt that the EU announced theyre firing up the printing presses to try and save the Euro
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Pillar of the Community
United States
863 Posts |
If there is a fed announcement soon with this spike already in place it could shot up to 40
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Pillar of the Community
Canada
1731 Posts |
If we hit $37 soon, I might sell 10oz.
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Pillar of the Community
United States
4008 Posts |
Quote:
I wish I knew 10-12 years ago what I know now Yeah, don't we all! As they say, though... too soon old, too late smart.  Quote:
Better yet, has the Fed hit the presses yet? Not yet but they keep talking about doing just that. They have a couple of problems with actually doing it, though. First, the 2012 election is only 2 months off, so they really want to avoid the impression that they are doing something to influence the outcome of the election. Next, the Fed does not have a lot of things that it can do to goose the economy. Money printing is about it, although they will not admit this. With the stock market about 13,000, it is difficult for them to use their one remaining bit of ammo even if the employment report is not very good right now. They would really prefer to TALK about QE (aka money printing) rather than actually DOING it. They can talk about it multiple times but they can only actually DO it once. Something that the Fed wants to avoid at ALL costs is a situation wherein they start a new QE program and the market yawns with complete disinterest. That could happen because each successive QE is having a lesser effect that the last one and it is lasting for a shorter time as well. While QE does inflate stock and commodity prices, including gold and silver, it doesn't really do anything for the economy. What is needed is action on spending, taxes, and regulation, which are what the politicians should be doing but aren't. We need political solutions and not Fed action masking as political policy. |
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Replies: 12 / Views: 1,434 |
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Posted 09/07/2012 01:49 am
