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 Replies: 15 / Views: 1,248 |
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Pillar of the Community
United States
1150 Posts |
I was wondering how the PM market would react to the Friday night US credit rating downgrade.
Apparently, as of right now, the overseas markets are again very bullish on silver. It is currently up to $40.11, up $1.79 from Fridays close.
How high will the US market drive it in the morning? Or do you think it will go kerplunk?
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Pillar of the Community
United States
3670 Posts |
Yes it looks like it may have a strong week perhaps, but gold is having what could be a record day. Started at like 1660, and 1713 last check, the line looks line a rope to heaven, lol....
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Valued Member
United States
458 Posts |
I wish it would soar like the gold is doing right now!
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Pillar of the Community
United States
931 Posts |
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Pillar of the Community
United States
931 Posts |
They just asked a guy on CNBC what would happen if all the gold in the world disappeared. Their expert said that the money would go into silver. That's what will happen when gold gets really expensive. It will in essence disappear from the reach of most people.
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Pillar of the Community
United States
1026 Posts |
Well I have been thinking that exact thing sooner or later people have to start buying silver in record numbers. Let us remember it also has been used for money for thousands of years also. Not sure why see gold listed on the Asian market report but not silver so not sure what it did over there last night? Gold went up $58.30 Yes I mean $ not % should look at what my fingers click on the keyboard  Edited by Brucec
08/08/2011 08:21 am
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Pillar of the Community
United States
830 Posts |
Gotcha Edited by GoThunder
08/08/2011 10:05 am
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Bedrock of the Community
Australia
21788 Posts |
junior e: All of the gold in the World will not disappear. Au is the 19th most abundant element in the Earth's crust. It is common enough for everybody to invest in, but rare enough to be considered valuable.
There are much rarer metals than gold, and they are available at a fraction of the gold price.
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Valued Member
United States
458 Posts |
A lot of people cant afford to buy ounces of gold in today's market, but realize that they can afford silver.
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Pillar of the Community
United States
802 Posts |
I think silver is pretty pathetic right now. Gold was at $1500/$1600 when silver was in its hay day around $50. Now Gold is over $1700 and Silver isn't even at $40. Talk about pathetic!
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Pillar of the Community
 United States
1150 Posts |
The only reason silver is so cheap is because of market manipulation. The amount of physical silver out there does not justify a low price of $40.00 an ounce.
If that crime is ever taken care by the US government, instead of encouraged by it, we'll see silver skyrocket to a more appropriate level of worth.
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Pillar of the Community
United States
667 Posts |
I think Silver is priced just right at the moment. Nice and safe with no wild swings. There is still a window open for those that want to speculate on a larger movement up.
Be calm it will move and I think gold may have reached a point that the normal everyday person will turn more to silver.
Remember we are speculating and it is not an exact science. I think the indications for buying gold were there on Friday. I really wasn't sure what silver would do but I was leaning towards no real big swing.
I am happy that it did not JOE or take a large bump at this point in time. However this window may not last for a long time.
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Valued Member
Canada
442 Posts |
+1 to what mkfarm said.
Longer buying oppurtunity, and a slower run up to the titanium $50 resistance wall will be good for silver.
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Pillar of the Community
United States
4008 Posts |
Quote:
They just asked a guy on CNBC what would happen if all the gold in the world disappeared. Their expert said that the money would go into silver. Heh, my thought is that if all the gold in the world were to disappear, all the money invested in it would disappear right along with it. Sort of like Enron and WorldCom shares.  |
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Rest in Peace
United States
9104 Posts |
Manipulation? Naw.
Silver volume goes up and down in waves, then suddenly, in one minute, billions of dollars worth are sold, equivalent to the entire annual world's production.
This wasn't buying. There's no way that many people would all decide to buy in the same minute.
This wasn't hedging. The amount of silver involved would hedge the production of all US silver producers for five years.
It was a deliberate attempt by a major bank to force the price of silver lower.
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Pillar of the Community
United States
7194 Posts |
But how long can this hold back the price of silver, and when gold makes a downward correction are we to expect a follow in silver as it has usually done recently? It just seems odd that gold is at record highs and silver is trending lower.
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Replies: 15 / Views: 1,248 |
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Posted 08/08/2011 02:45 am
