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 Replies: 40 / Views: 3,448 |
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Pillar of the Community
United States
3670 Posts |
Looks like gold and silver is about to climb back past 40 and 1600 again, and really anytime a big number is reached, pull backs almost always follow as pointed out by Hock, and I too have noticed this in my short time following the PM market....
And the pullbacks have been way minor, as I have not seen silver fall below 39 or gold below 1588....
I agree with Thunder Hock, you have some serious gold, perhaps a bit more silver, but your plan of 15 to 150 seems good, even though I like the idea better of 15 oz. of gold and 200 oz. of silver :-)....
Edited by Silverhawk74
07/20/2011 1:52 pm
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Pillar of the Community
Canada
834 Posts |
$40 will soon be hit again.
My ratio right now is 2749oz silver to 43oz of gold
Ideally I'd like to be in the neighborhood of 5000:100 but I'm still young and hopefully can reach that goal.
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Pillar of the Community
United States
830 Posts |
Wow, nice stash!  |
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Pillar of the Community
United States
2764 Posts |
ASK and YOU SHALL RECEIVE!..... $40:$1600/oz at closing.
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Pillar of the Community
United States
4008 Posts |
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Well silver is dropping today hope it does not get down to $30.00 or I may have to buy some more have way to much now, when do you know enough is enough? - Bruce That is always a tricky question. Much depends on the individual and their needs / desires. Can't answer for you but I can answer for myself. IMHO, we should be stockpiling as much silver as we can once our basic needs for a comfortable life for us and our family are met. Holding PMs is one of the better ways to diversify out of a shrinking fiat currency. If the dollar were to collapse, and it may, then it would be virtually worthless. So would a lot of paper investments that are denominated in dollars. I mean, we'd get paid for them but in dollars that nobody wants so it is virtually the same as not getting paid. OTOH, the dollar may not collapse and the paper investments might do well. Because of this uncertainty, it is good to have a mix of various investments. I would like to have about 10% of my wealth in gold and silver and the rest in well diversified stock and mutual fund shares. My goal is to collect 1000 oz. of silver and 50 oz. of gold. So far, I have no gold but would buy some on a pull-back. Have been buying silver in small amounts regularly. I need to pick up the pace a bit. Quote:
My ratio right now is 2749oz silver to 43oz of gold - swrbxxx WOW! Now THAT is a HOARD!! HOTCHA!  Quote:
I think silver will hover around the mid 30's until the U.S. debt gets worse or their is another crisis going on in Europe. - Morgan I agree with that. There was very strong support for silver in the $34-35 per oz. range. That seems to be the recent bottom. It could penetrate that, of course, but it would take MAJOR good news from the US and Europe on their debt problems to do so. Bad news on those fronts could push silver a lot higher, though. Quote:
I am in the same boat with about $20,000 cash floating around with no place to light. - hockingzig I'm with you, Hock. Have plenty of cash but need to get 'er done as far as moving the cash and making some decisions on what to buy. Have about $56k from one of my cashed out mutual fund accounts that can all be used to buy PMs. The market for PMs is, unfortunately, not a bit more clear on price direction than is the market for stocks and funds. Would like to see a major pull back by mid-August. If not, then I will begin dollar cost averaging into gold and silver on a monthly basis over the next 6 months or so. Quote:
and yesterday
when gold hit 1600.00 I thought it was way overpriced. - Wheezydog Heh, I've been thinking that since gold hit $500!  Quote:
Just not sure what to do keep the cash in the bank or get more PM with it, what would you all do? - Bruce Depending on what else is going on in your life, perhaps a 50-50 split would be an idea worth pursuing? That way, if PMs drop, you could buy more later. If you suddenly needed cash for something major, it would be available to you without having to sell PMs or other investments to get it. |
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Pillar of the Community
United States
3670 Posts |
How quickly things change from breakfast too lunch. Obama says something everyone wants to hear, so Pm's drop a bit. But then the reality sets in of the combined mess of it all, so it goes back up again by lunch....
I think the world needs to take their blinders off and wake up. Like Ed said, do you wanna put your faith in a government that has created more debt then any other nation in known history and their currency, or gold and silver and others?
You can only cheat the system so long, until everyone with blinders on wakes up and smells the coffee. An A+ rating how does a nation with 14 trillion plus in debt have that rating? The 3 credit services sure will top out your rating before it hits A+ (700 plus rating), if you have much more debt than available credit correct?
And I figure after early August passes it may not be long before that A+ rating is history....
Edited by Silverhawk74
07/20/2011 6:19 pm
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Pillar of the Community
 United States
1026 Posts |
Well thanks for all the info will think on this and not jump into anything, got an offer from APMEX for new 1st issue 2011 Eagles from the San Francisco mint today thinking hard on that. Wheezydog have the boat can't see much of it fish and play pontoon 22 foot me holding the fish I got the other day and my RV in the background.  Well got it small enough it finally uploaded. Anyway thanks have to think what to do. Edited by Brucec
07/20/2011 7:53 pm
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Pillar of the Community
United States
3670 Posts |
Nice Striper Brucec. I have caught a few of those catfishing, and my largest weighed in at 27 pounds. They run real fast, right up near the surface, a lot of fun to catch....
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Pillar of the Community
United States
830 Posts |
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Obama says something everyone wants to hear Yeah exactly, I'm pretty sure he said that just to set up the Republicans to take the fall in a few days. I'm holding on to SDS for a little longer. For those that don't know SDS is a bet the S&P 500 is going to go down. |
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Rest in Peace
United States
9104 Posts |
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An A+ rating how does a nation with 14 trillion plus in debt have that rating? The raters are paid by those they rate. They rated banks high in 2008, even while their stocks dropped 90%+ and they went bankrupt. Weiss, who is independent, gives US sovereign debt a C-. |
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Pillar of the Community
United States
3670 Posts |
C- seems about right if not less....
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Pillar of the Community
United States
543 Posts |
Wonder if silver will continue its increase tomorrow as the "Gang of Six" plan is losing enthusiasm very quickly. Whatever happens with the debt ceiling issue, it will be interesting to see what both silver and gold do on August 2nd.
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Pillar of the Community
United States
4008 Posts |
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Wheezydog have the boat can't see much of it fish and play pontoon 22 foot me holding the fish I got the other day and my RV in the background. Very nice fish, there, Bruce. I am envious!  Whereabouts did you catch it and on what bait? I used to catch them on the Flint River in northern Alabama many moons ago. We used lures we made that we called "doll flies". That was a round piece of lead with a hook embedded in it and a tied-on skirt of colored fiberglass strands. The green and yellow were especially good. Sounds silly but they work! The Rogue River in Southern Oregon has some monster stipers that go 50 lbs and better. Haven't fished for them but would sure like to sometime. |
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Pillar of the Community
United States
1026 Posts |
Ed_B, got it at Raystown Lake in Huntingdon PA, I got it trolling for Lake Trout at 50 feet in a 2.5 Inch flutter spoon dull yellow. Not they mainly fish here for strippers using plainer boards these take your line away from the boat and let out about 100 feet of line behind the boat. They use something like your "doll files" half ounce gigs with white hair or live shad. Was unusual to catch one at 50 feet with the flutter spoon but I seem to catch all my Lake Trout some allot bigger than that stripper on the same color flutter spoons. Anyway that one made my day forgot all about the economy  Raystown Lake is a hard lake to fish not sure why but catch the least fish anywhere there than other states I have fished at but spend 5.5 months off and on there in the spring and summer. |
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Pillar of the Community
United States
1026 Posts |
Well guess I am going to buy some more silver but see it is going up and just looked it was $40.15 will wait and hope it falls back into the $30 something again price.
Gold is just to high to buy scarred to pay that much for it.
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Replies: 40 / Views: 3,448 |
First Page
Posted 07/20/2011 2:22 pm
