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 Replies: 23 / Views: 3,026 |
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Pillar of the Community
Canada
834 Posts |
In overnight trading
lets see if we can close today over these numbers!
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Pillar of the Community
United States
830 Posts |
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Valued Member
United States
361 Posts |
 Sure would be nice to see it keep going! |
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Valued Member
United States
362 Posts |
I'm about to go to my local coin shop and see wut he has. But I'm tempted to not get anything because I feel like its going to go up, and then significantly fall back down, kind of like what silver did a few months back
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Pillar of the Community
United States
737 Posts |
Go go go! Hoping to fund a new camera purchase if silver gets high enough for me to sell some.
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Pillar of the Community
United States
1450 Posts |
If you listen to the financial news this morning,Italy's sovereign debt crisis seems to have deteriorated so I wouldn't hold out for a significant drop anytime soon. Also,if you go to Kitco.com and click on the box just below the toolbar where it says"Is gold really worth..."(or something like that)you will see that the only thing hindering a huge gold break out is a strengthening dollar. If the dollar weakens at all today,gold could shoot up 10's of dollars in a few minutes or hours. In other words,if you are looking to buy,I would do it now!
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Pillar of the Community
United States
648 Posts |
While this is certainly nice to see, I believe there will be a correction to jump back in the high 30's whether that be today, tomorrow or next month. I don't know. Good luck.
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Pillar of the Community
United States
7840 Posts |
IMO, once congress corrects the debt ceiling thing, the gold & silver bubble should burst, or at least start the decline. Are higher PM prices are indicative of a bad economy?  We used to think the same thing overseas; a strong dollar bought more euros, but a decrease in our Cost Of Living Allowance (COLA), and your dollar went further on the economy (off-base). A weak dollar bought less euros, but an increase in COLA, which meant you kept more (of your dollars) if you did not make purchases on the economy (off-base).  It's been a bumpy ride, with a couple more dips to come!  Edited by oih82w8
07/18/2011 09:34 am
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Pillar of the Community
United States
830 Posts |
Jim Cramer said it again today on CNBC, the world's portfolios are "radically" under invested in Gold at only 1%-1.5%. A more normal or traditional % is 5%. I just don't see this as a bubble...yet.
Edited by GoThunder
07/18/2011 09:57 am
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Valued Member
United States
52 Posts |
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Pillar of the Community
United States
5854 Posts |
I am not sure if higher PM prices indicate a bad economy but is does seem that PM have performed well in some worst economic crises of the 20th century. If I remember correctly gold rose in the great depression, the 70's, and recession of 2008.
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Pillar of the Community
United States
830 Posts |
Actually PMs had a big dip in price in that 2008 recession.
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Pillar of the Community
United States
570 Posts |
With the amount of debt that the US has and with them wanting to raise the ceiling, I don't see PM's going down too much in the short run. Having more debt can mean a weaker US dollar and that could drive the price up.
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Pillar of the Community
United States
1374 Posts |
Would have to side with mmorgan on this one. Also, great point about lack of precious metals in portfolios. The media is really adding to the hype lately.
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Pillar of the Community
United States
5854 Posts |
It is true that most of the PM's had a big dip in 2008. I guess I was thinking mostly about gold when I referring to PM's.
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Pillar of the Community
United States
3670 Posts |
I would say that 2008 dip was direct ramifications from the housing market collapse, and no late day pull back like often happens, as silver is at $40.56 and gold is real close to $1604....
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Replies: 23 / Views: 3,026 |
Posted 07/18/2011 08:16 am
