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 Replies: 23 / Views: 3,058 |
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Pillar of the Community
United States
1450 Posts |
Another one of those really odd days! Are we seeing the beginning of the end of the metals rally? Does this have anything to do with the end of QE2 and no announcement of a QE3 or similar stimulus? Stocks are taking a beating lately(although up a bit today)bond yields are down,! Where are people going,to cash? This whole combination of circumstances makes me reassess my plans,maybe it is exit time. Please,those of you who are more experienced investors,can you shed some light on what we are seeing?
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Pillar of the Community
United States
3670 Posts |
Silver crawled back up over 37 dollars, and gold has been moving pretty steady coming into today, even though it has been stuck in neutral today at $1545....
I read an article a day or two back that said the market has been dropping for five weeks now in most all categories. I know gas has fell in my area to around $3.50 a gallon....
Edited by Silverhawk74
06/07/2011 2:50 pm
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Pillar of the Community
United States
1150 Posts |
We still have a long way to go until this bull market is over. We are in uncharted territory with the debt, deficit, unfunded liabilities and the probable death of the dollar and Euro. I never thought I'd say this, but I'm gonna follow in China's lead and continue to buy metals.
I think it is still too early to throw in the towel.
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Pillar of the Community
United States
5832 Posts |
Its summer time, market is more on selling.
I would buy on a down market.
PM should head back up near September. IMHO!
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Pillar of the Community
United States
931 Posts |
Gold is not exactly in a slump. It seems stable within 1 or 2% of it's all-time high. I would think that if it caught a good tailwind we could break $1600 without much trouble.
Edited by junior e
06/07/2011 3:38 pm
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Pillar of the Community
United States
1064 Posts |
Agree with mitch and mac; got to have the fortitude to stick it out, going to be a long-term thing (my fingers are crossed!)
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Pillar of the Community
United States
860 Posts |
Most people who vow to buy or sell when the market changes ~usually don't. They continue to wait and the profit margin gets less ( unless they are just plain lucky) as no one knows what will happen. Perhaps silver being small market can show accelerated moves, but it will be more manipulated and chancy than gold.
If you believe there is a positive future for gold, it makes more sense to invest in a gold/silver development/mining company. You can buy shares with what you might consider soft money and get the reward as the price of gold less the production cost increases. This requires a lot of patience to read reports and sift the truth from the bull you get on bullion and mining for the masses sites.If you get a brochure through the mail, shred it before reading. Generally Canadian firms are well vetted by the government there and available through SEDAR ( like stocks EDGAR). Look for a proven reserve and operations.
If you believe a negative for PM, then consider something like Rare Earth companies out side of China. Again most are very risky except for a couple coming online in the next 1-2 years.Read the reports. US, Canadian, and Australian mines are usually well documented and reliable.
I don't know the future as well as many who post on these type of forums, so I split the resources between the 2 scenarios. I suspect over the next 3-5 years, which ever is successful will overshadow any loss in the other. IMO.
Jim
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Valued Member
United States
384 Posts |
Metals are a buy, dollars are on the sell block for now. Will let you know when my forecast changes.
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Valued Member
United States
71 Posts |
I'm not necessarily invested in silver to make much, so much as to not lose money. Like some of the above guys like Mitch I do not feel very good about the financial future of the USA, and silver/gold is my hedge against some dark times I see ahead.
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Pillar of the Community
 United States
1450 Posts |
Thanks guys,I needed that! I guess I have just been in metals too long(almost 7 years)so when I see a slowdown I start to expect the worst. I don't think I am a buyer but I'll hang in there a while longer.
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Pillar of the Community
United States
5832 Posts |
desertgem has a point that most people would wait it out.
I for one would not buy into it all at once when the market goes down first sign, but buy it at incremental term, so in case the market goes further down, I can pick up some more shares and not lose out too much. The market goes in cycles as everyone knows, so you know when it is time to sell, just don't be too greedy.
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Pillar of the Community
United States
931 Posts |
I bought most of my gold at $700. I bought bullion at $1400 also. I love every one of my gold coins so what the market does is kind of a moot point for me. I'll never sell, but I would get great peace of mind knowing that m instincts were correct. If gold hits $1200 or so again I will buy a few more one ounce Buffaloes. I love those coins!
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Pillar of the Community
United States
2120 Posts |
Quote:
Its summer time, market is more on selling.
I would buy on a down market.
PM should head back up near September. IMHO! I agree with all 9 points out lined by this. I know my plan is buy it up. |
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Valued Member
United States
364 Posts |
There is a difference between speculating and investing. If you are speculating, the cost today and a week from now are your main concerns. If you're investing, then PM's are a slice of your portfolio, and you're allocated a set percentage, and thereby get to leverage dollar-cost averaging.
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Pillar of the Community
United States
802 Posts |
Maybe Silver will pop back near 50s in a month or two :)
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Pillar of the Community
United States
1150 Posts |
There are a lot of good points on the above posts.
I forgot to add that I'm in Silver/Gold for the longhaul. I don't plan on using it for myself or wife, but passing it all down to my daughters when I go.
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Replies: 23 / Views: 3,058 |
Posted 06/07/2011 3:18 pm
