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 Replies: 21 / Views: 5,083 |
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New Member
United States
42 Posts |
Did silver just hit $20 in the last day or two? I've heard some people on here say there was some sort of 'psychological barriers' keeping it under 20, but seems it broke through.  |
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Valued Member
United States
364 Posts |
I find that an understanding of human psychology is more valuable than even an understanding of market fundamentals.
Yep, closed above $20 yesterday.
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New Member
 United States
42 Posts |
Quote:
I find that an understanding of human psychology is more valuable than even an understanding of market fundamentals. Yeah I know what you mean, I majored in psychology in college. Hasn't really done me much good with finding a job in the real world though. :/ |
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Valued Member
United States
285 Posts |
I am pretty interested in what the price of silver does now that it is over the $20 barrier. I guess we will have to wait and see.
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Pillar of the Community
United States
5823 Posts |
Our US dollar buying power has go down even more :!
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Pillar of the Community
 United States
2448 Posts |
Just a few minutes ago silver was $20.475. Gold also was up and made a new high at $1272.90. I still say $24.00 ozT by year end for Silver.
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New Member
United States
3 Posts |
We have hit highs in Gold today and Silver has jumped up .45 - but there may be a slight problem now. CFTC - it seems can invoke Rule 587 - which they are saying there were phantom orders placed. The article is vague in exactly what they will do or to what extent. But it definitely bares watching, to see what they do. I don't understand it totally, but it implies a lot. http://www.bloomberg.com/news/2010-...markets.htmlCME Group Inc., the world's largest futures market, said it will treat inadvertently placed energy and metals trades yesterday as 'phantom orders,' though none of the transactions were canceled CME said in the statement. The U.S. Commodity Futures Trading Commission was also notified, the company said. CME will "address these transactions in accordance with its Rule 587," according to the statement. That rule governs "phantom trades," which the exchange defines as transactions caused in error that aren't authorized or that were made with altered terms such as contract month or price. If CME detects such trades its powers allow "including without limitation, closing the market, deleting bids and offers, and/or suspending new bids and offers," according to Rule 587. |
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Pillar of the Community
Canada
3692 Posts |
At what point do those prices burst? Do you think gold could go the route of $700-800 and silver $5-10 again?
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Pillar of the Community
United States
1409 Posts |
I won't pretend to be an expert on trading rules, etc., but did read some articles on a couple of sites today regarding the # of COMEX physical silver calls/orders for Sep that came due and a perception that maybe COMEX didn't have as much physical silver on hand as they'd previously stated, so they were buying also in order to cover orders.
Again - that is the basic jist of 2-3 articles I read, and is my loose interpretation of it.
Anyway - I was shocked that it ran right up against 20.50 today and of course the wild-eyed speculators are all talking about $25 by end of year and $100 next year. I can't fathom it getting over $25.......just my .02
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Pillar of the Community
United States
5823 Posts |
Well! If silver goes to one hundred an ounce, I will definitely pay off my mortgage...LOL ;>
And what would price of gold be then? $4000 an ounce...
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Pillar of the Community
United States
2448 Posts |
Gold and silver still climbing, $1270. and $20.70 right now. Mac, I'd still plann to make my mortgage payments for a few more months.....but you never know.
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Pillar of the Community
United States
5823 Posts |
I had a chat with a Blanchard sales rep beginning of last year and he says that gold can escalate up to $1500 an ounce by end of this year, I think at the time gold was around $1000 exactly and I started to think that the economy would really bottom out, the US dollar can't compete with the China Yuan or some other thriving eastern countries.
What I am trying to get to is how sad our country hasn't improve overall and lagging behind from other. Since the US dollar is slowly losing it value, it pushes precious metals up.
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Pillar of the Community
United States
3640 Posts |
Actually during the past 2 years just the opposite of what normally
happens with the stock market has been happening.
Before if the market was down gold and silver went up and vice versa.
Looks like maybe $21.00 plus before the weeks out.
Might have something to do with the political climate as well.
Could hit 25 in november.
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Valued Member
United States
61 Posts |
CAN gold go to $500, silver to $7 again; yes. Anything can happen. WILL it? No. Inflation is much more likely than the ridiculously strong dollar that would be required for a metals collapse. The key; diversify. Then you can be wrong on your stocks, bonds, metals, or money market and make money.
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New Member
Switzerland
46 Posts |
In mid-June prices for 1oz Gold was for the first time over 1250 USD. Then prices started to fall until the end of July. Since then prices have been going back up. Will the price for 1oz of gold top 1300 and go higher or higher by year end? The way that things are looking I am compelled to say yes.
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Pillar of the Community
United States
5823 Posts |
OK! Silver is over $21 today and gold is over $1290 per ounce. Will probably see gold going over to $1300 before end of the week. Time to sell IMO.
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Replies: 21 / Views: 5,083 |
Posted 09/14/2010 11:05 am
