What Happens To Gold And Silver Next? Look Out Below?

And again, all this talk of gaps and such has no bearing on the price on the ground. Prices have remained all but constant since the initial "China's been cooking the books" event. THAT is your real "Gold and Silver update", and likely will be until the normal annual September/October price correction. $35/oz AG and $1600/oz AU by October 1st, guarenteed.

All I know is anyone who guarantees a certain price on assets, especially commodities, is always wrong and so An, my friend you will be wrong.

believe it or not I still know some dealers that are selling ASE's for $32. Not many takers but those are there prices.

Right now it loooks like both have kind of hit this hoover point... maybe higher maybe lower but right about here. I am fine with $22 silver and $1400 gold. (I can't afford gold anyway - unless it gets down to $600 or so).

dsfree... I appreciate your thoughts.

I am not a paper trader and for that matter not a huge buyer period... I just can't afford either.

I am following this thread though because it has a lot of good exchanges in it!

As I have always said, no matter how much you deny it, no matter how much you want to say that futures contracts aren't real, physical prices will take their cues from the futures market.

Therefore, whether you are collecting coins of silver and gold for pleasure, stacking and or investing in gold and silver, getting a summary of the days events and price action and KNOWING whats happening can help you stretch your dollars, the more you know, the better prices you can get.

The day to day events in gold and silver prices are key and while the unaware public may think it means nothing, everyday clues are dropped to the overall direction of gold and silver and also let us know when we are getting to important inflection points.

so EVERYONE benefits by knowing what gold and silver are doing each and every day, and as long as I am active on this forum, I will be updating this every single day.

What you do with the info is up to you. However, if you cant grasp whats going on then perhaps you need to slow down and re-read what you are reading so you can better process it in your brain. It is my hope that for every person that cant grasp whats going on, 3-4 people who are lurking are getting it.

As a hobbyist myself, I certainly have been able to snag many deals by knowing where the prices are going for silver and gold and I know where I want to buy and not and I have enjoyed plugging in the missing pieces in my collection. I feel since I have this advantage that I will share with those who can grasp and avail themselves of my free information, freely sharing with my fellow coin collectors.

Now on wrap up for today-

So after hitting and going into the gap, gold once again stepped back. Its clear, there's no real buyers of gold and they do not have the resolve to overcome the heavy selling that was experienced back in April. At this point, it appears we are going to go back again to the lower end of the range on gold and silver. Again, the only way this is going to change is by steady buying that gets us into the gap, fills it, closes it and then holds it.

Lets turn to our proxies-

GLD- lower high, lower low.

SLV- lower high, lower low.

While all this may seem redundant to the untrained eye and non speculator, we are getting a picture painted for us. Keep in mind that this narrow range bound action in price will resolve itself.... and when it does it will be explosive. For now, think of this narrow range as a sign of indecision by the major market participants, and they wont make a big move until they know more. What exactly they are waiting for, we don't know and wont be revealed until AFTER the move has started.

Nevertheless, both gold and silver remain in a downtrend. The gap I keep talking about, which is very significant, needs to be overcome for higher prices.

Again I will say this: Right now, gold and silver are broken. Only time will heal and resolve this, and its entirely possible since they are in a downtrend that much lower prices are in store before its all said and done.

I would have loved to see the look on their face when you offered to sell them at 29. I guess theyre just so used to their speech about the price it came out automatically. I had a guy one time tell me he was doing me a favor offering silver at all since it was only going to go up and I just told him I didnt want to take advantage of him like that and walked away.

Sell for whatever you want but leave the bs speeches out of it. Anyone who thought it would only go up would only buy not sell.

You hit it on the head for ebay, you see that extra price to make up for the seller fees. If they could only get around 26 like everywhere else sells them it wouldnt be worth it to sell those there and they may lose money on it at those prices so you would only see people reselling and not dealers offering

Thats a good point miggs. I probably should have said common readily available bullion. I dont know of anywhere better for trying to find those hard to find or unique pieces, its just not good for us buyers buying common bullion. I'm very pro ebay when it comes to coins though