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 Replies: 14 / Views: 1,395 |
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Pillar of the Community
United States
1450 Posts |
At 11 AM eastern time,gold was at $1570/oz and silver was just a smidgen under $47/oz. Better do your buying quickly!
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New Member
United States
3 Posts |
Im gonna drive myself crazy today watching the market :) what an amazing pull from the government but still...the dollar is sinking...$50 silver today $1600gold? that be some news to talk about
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Pillar of the Community
 United States
1450 Posts |
Looks like the dollar is bouncing around like a pinball making the metal markets gyrate erratically too. I wouldn't watch too closely today if you have a weak stomach. Things will settle down in a day or two and when the dust settles we will have a better sense of"reality",whatever that is!
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Pillar of the Community
United States
642 Posts |
Asian markets were profit taking IMO. The upward march will continue through June.
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Pillar of the Community
United States
1450 Posts |
I agree with you,but days like today are hard on newbies. July and the end of QE2 will tell us a lot about metals direction.
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Pillar of the Community
United States
1348 Posts |
I think it will take all week to recover
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Pillar of the Community
United States
3670 Posts |
Can't get caught up watching those daily 5 buck swings, in the long run if you watch closely, you will see gold and silver are still taking TWO steps forward, and ONE step back....
Just buy when it drops, and don't get greedy thinking it will fall to 40 or something, not gonna happen....
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Pillar of the Community
Canada
834 Posts |
-4.27
I see mid 30's by friday
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Valued Member
United States
341 Posts |
Mid 30's by friday?  |
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Pillar of the Community
United States
4989 Posts |
Avoid the gold rush mentality. Silver is still way overpriced it could easily fall back to $10-$11. I remember back in 2005 I told people their homes could fall back to 1990's valuations and they laughed at me and told me I was crazy.
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Valued Member
United States
71 Posts |
Quote:
Silver is still way overpriced it could easily fall back to $10-$11. What do you base this on? Many people feel the exact opposite based on silver being an industrial, cosumable metal and that whole 1/16 the price of gold ratio. Couldn't it be argued that silver COULD go back to $10-11/oz just as easily as it COULD also go to $80-90/oz.? |
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Valued Member
Poland
114 Posts |
I think it's a good time to buy... not gold, not silver but - platinum. Yet it may be just me.  |
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Pillar of the Community
United States
3592 Posts |
Quote:
Couldn't it be argued that silver COULD go back to $10-11/oz just as easily as it COULD also go to $80-90/oz.? Exactly...nobody knows what the future will bring as evidenced by the title of this post |
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Bedrock of the Community
United States
10982 Posts |
We should see this week how much support silver has at $40. I'm betting for strong support. This summer however, it would be no surprise to see silver back under $40. Even $30 is not out of the question before we push through $50.
There is a shortage of physical silver right now. That's nice but the paper manipulation will continue somewhat. What is good is the consummability in industry that helps drive silver also. It's been quite a run this year and it's far from over.
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Pillar of the Community
United States
4008 Posts |
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I see mid 30's by friday Then, with the courage of your convictions, you have shorted the silver ETFs or are buying silver ETF puts? If you are right, you will make a LOT of money this week.  That could work but it looks like a real financial mine field to me. Step carefully. |
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Replies: 14 / Views: 1,395 |
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Posted 05/02/2011 11:11 am
