....for gold and silver? I mean I am detecting an overall downward vibe on this. Honestly I'd love to see $20 on silver
....for gold and silver? I mean I am detecting an overall downward vibe on this. Honestly I'd love to see $20 on silver
I'm thinking a $22 dollar low is coming soon. I will buy all the silver that I can when that happens. I recently sold off hundreds of ounces when silver hit $48.00. I paid less than $5 an once for that silver. It's time to stock up again, I am down to 50 ounces at the moment.
nicely done sir!Originally Posted by Kirkuleez
Actually if I had waited another week, I would have gained almost $900. But I'm not complaining, the profit was crazy high already. I really had a feeling that it would not reach $50.
I think its going under 20.00
I think that it will go back up to about $30, but overall I see it dropping to $20-.
Just out of curiosity, are you guys picking $22 out of the air, or did you read Clive Maund and use that as your basis.
Personally, I have no idea where it'll go and wouldn't mind it dropping to $22, I'll just keep on buying and see if my savings account grows or shrinks by the end of the year. I'll take that risk over the .5% interest on cash in a savings account. Make no mistake about it being a risk, because it is.
Clive Maund has called smackdowns before, a pretty good guy to piggyback, but nobody's perfect. I am not sure which is more likely, but I give 2 possibilities a high likelihood based on chart analysis. Either this is the new low (QE2 support intact), or it will eventually break down to the 2008 high around $21. I regard either scenario to be bullish because both the 2004 and the 2008 blow off tops were massive and still paved the way to new highs. Nothing has changed fundamentally.
A few months ago, people on this forum were predicting a return to $50/silver and beyond. I give these predictions the same likelihood of happening.
There are always people making wild predictions but as i said earlier $50 silver is unlikely unless dollar devalues or world economy heats up neither are happening any time soon, if Silver and Gold go below $25/1500 they could easily test $20/1250 mark. As for myself i been in one the sidelines' for past month not going to make the same mistake i did before.
Last edited by jjack; 06-25-2012 at 07:23 AM.
My collection of modern world Gold & Silver coins:
http://www.modernpreciouscoins.com
And your reasoning is...?
IMO, and this is simply an opinion, physical PM investing should only be relegated to long term goals. In the short therm, < a couple of years, there is simply no way for the average investor to determine where prices are headed and timing the marking is an activity of frustration. In addition, silver is much more volatile than gold in the short term so you should plan accordingly on the reasons for holding it and what your exit strategy might be. Don't ever assume, as many times as you hear people repeat it, that silver follows gold or vice versa.
My recipe for a relatively stress-free approach to the movement of precious metal prices:
1. Buy what you like and enjoy owning.
2. Make precious metals a small part of a well-diversified, negatively-correlated portfolio.
3. Re-allocate when necessary.
4. View precious metal price movements as pretty unimportant.
I know I will most likely not hit a home run with this approach, but I also know I will most likely not strike out either.
More of a "hope" than a reason
Up $.50 for today
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