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 Replies: 20 / Views: 2,457 |
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Pillar of the Community
United States
5861 Posts |
I don't know what's going on in the market today, but I was just thinking of posting how disappointing it was that gold and silver seemed to be headed back down when all of a sudden...   Who knows where it will go next, but that's nearly a $1 jump in silver price in a matter of minutes. Maybe China just bought a few million ounces? Was there some announcement from the Fed? Edited by barryg
09/13/2012 1:14 pm
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Pillar of the Community
Canada
1411 Posts |
I was wondering the same thing. Anyone know?
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Valued Member
United States
223 Posts |
QE3. Open ended. Haven't read the whole story yet. Expect the dollar to weaken, PMs to rise and the food/energy to get more expensive.
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Pillar of the Community
 United States
5861 Posts |
Wow. Didn't think they'd actually pull the pin on that grenade anytime soon.
Guess it's time to just sit back and watch...
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Pillar of the Community
United States
5861 Posts |
Yep, just came in over the wire: Quote:
Fed Sets Open-Ended Asset Purchases to Spur Growth; Extends Low Rates Into 2015
The Federal Reserve opened a new chapter Thursday in its efforts to accelerate the economic recovery, saying that it would expand its holdings of mortgage-backed securities, and potentially undertake other new policies, until unemployment drops sufficiently or inflation rises too fast.
The Fed said that it will add $23 billion of mortgage bonds to its portfolio by the end of September and then announce its plans for October as part of a new process that aims to prioritize the Fed's economic objectives.
The Fed also said, in a statement following a meeting of its policy-making committee, that it now expects to hold short-term interest rates near zero until at least mid-2015, extending the forecast it made in January by about half a year. |
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Pillar of the Community
Canada
834 Posts |
Yes an opened ended QE3 was announced it was a frenzy just before with that .60 cent dip than bam up .35 now over a 1.00 and on the rise.
Im going to go out and say we may see 40.00$ silver and 1800$ gold in september
Also watching the usd tank some more against the cdn dollar going to be a interesting next few months in america with the election and closing in on the debt ceiling
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Valued Member
Canada
491 Posts |
@swrbxxx I agree with the $1800 au target, after that a cons period with a slight downward trend. USD/CAD was not what I was expecting and do see in the future a reversal of that move. Last time .96 was hit BOC did some market moves and reversed the trend. Any lower than that and we would see Major problems, personally I would like to see a lower CAD to support my Au holdings.
Sounds like $85 billion a month or a Trillion a year in QE possibly until 2014 when rates are projected to rise.
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Pillar of the Community
United States
5861 Posts |
Heck -- it looks like gold might hit $1800 today. I'm gonna go out on a limb and predict $1900 for later this month...
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Pillar of the Community
United States
1590 Posts |
They say they will do this till they see an huge uptrend in inflation...but exclude food and energy from the equation. With more people spending what little money they have on higher food and oil prices then of course "inflation" will not occur...because no one is buying...toasters and tvs.
Wow, just wow......lol...I surrender! Ok, $45 silver by year end and $2000 gold. What the heck.....though as a dealer it will probably drive me out of business. NO ONE is selling right now...and hasn't been since late winter. I get dribs and drabs..but no one is bringing in large amounts of silver. Which means if I do purchase my selling price has to increase. And if we get a sudden price reversal then I am at a loss. So I think this is it for me as a bullion buyer.
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Pillar of the Community
United States
3670 Posts |
That is what I call a "A sucker's false pullback", the actions of the market the last two days before all the wise powers that be who knew this transaction was going down....
Probably gave them all one last chance to buy huge paper stocks at a lower price right before the big jump....
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Pillar of the Community
United States
2120 Posts |
Quote:
They say they will do this till they see an huge uptrend in inflation Right, but it depends on how you compute inflation of course. |
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Pillar of the Community
United States
2120 Posts |
Quote:
Probably gave them all one last chance to buy huge paper stocks at a lower price right before the big jump.... Insider trading is only illegal if you get caught. |
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Pillar of the Community
Mexico
1304 Posts |
Man, that's crazy. I was about to post a similar thread, but knew someone had to have beat me to it. I checked the silver price in pesos and it's actually DOWN about 1.2%. Guess it is time to check the dollar index!
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Valued Member
United States
264 Posts |
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Pillar of the Community
Canada
4944 Posts |
Silver is at $34.65 right now.
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Valued Member
United States
397 Posts |
I just put in an order for an ASE, saw the price spike in silver 15 minutes later, and thought "Hey! Look what I did!".  Edited by MadMortician
09/13/2012 4:16 pm
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Replies: 20 / Views: 2,457 |
Posted 09/13/2012 12:47 pm
