Thread: Gold over $1700 again~ Silver touching $33/oz!

Got up this morning and noticed that gold surpassed the $1700 mark again and silver touched $33/oz overnight. Are we expecting this to last? Some folks are saying $1800+ before years end, what say you?

I hope silver stays high for a couple of more days. I'm waiting for a big batch of coins to arrive that I bought at $26 oz.

Originally Posted by ikandiggit

I hope silver stays high for a couple of more days. I'm waiting for a big batch of coins to arrive that I bought at $26 oz.

Nice buy, hope it was 90% silver.

I, for one, think silver will run to 35/oz or so before it stalls a bit. With QE3 looming, it could go higher, but I really don't think we're gonna see $45+ silver again so soon after it's last collapse.

If we do, I'm selling the farm, ha.

Originally Posted by FadeToBlack

Nice buy, hope it was 90% silver.

Yep and .925 (junk Canadian pre 1920).

Long term price path will lead upwards, central banks enforce financial repression in order to make the ever growing debt load manageable. And most importantly as a German history has proved that the possession of gold/silver has never been a bad idea, which I find is quite a sad development that this is still true today!

The unfortunate side effect this has is the growing price for all the nice pm coins, today you can see more and more coins being made out of base metals.

I would definitely like to see silver in the $40's again and will likely unload quite a bit... Not gonna be holding my breath for the $50 mark again! It would be nice to see gold hit a new high though

Originally Posted by FadeToBlack

Nice buy, hope it was 90% silver.

I, for one, think silver will run to 35/oz or so before it stalls a bit. With QE3 looming, it could go higher, but I really don't think we're gonna see $45+ silver again so soon after it's last collapse.

If we do, I'm selling the farm, ha.

Wouldn't QE make the value of farmland go up as well? I am not selling my farm if QE increases inflation.

Originally Posted by medoraman

Wouldn't QE make the value of farmland go up as well? I am not selling my farm if QE increases inflation.

Farmland has been steadily increasing the past 5-7 years along with PM's. In some Mid-west counties, farmland has increased over 100% in the past 3 years, but more on an average of 20%. Wallstreet got in on this a few years back and one big firm in particular is cashing out of their 10 yr plan after 5 years with roughly a 20% profit.

Haha, I didn't mean I was gonna sell a farm, I don't own any land, actually. I do have plenty of junk silver I'd sell if silver got that high again, though. Enough to buy several nice, high-end collectable coins that would probably be more stable in value than a bunch of silver. It would give me a very nice start on a box of 20.

Originally Posted by FadeToBlack

Haha, I didn't mean I was gonna sell a farm, I don't own any land, actually. I do have plenty of junk silver I'd sell if silver got that high again, though. Enough to buy several nice, high-end collectable coins that would probably be more stable in value than a bunch of silver. It would give me a very nice start on a box of 20.

I thought so, just having a little fun with ya.

Originally Posted by medoraman

I thought so, just having a little fun with ya.

Just had to make sure. I'm pretty sure I could run a farm, though.

Into the ground, that is.

Wallstreet got in on this a few years back and one big firm in particular is cashing out of their 10 yr plan after 5 years with roughly a 20% profit.

Read more: Gold over $1700 again~ Silver touching $33/oz!

20% profit after five years is terrible. Then again, maybe thats the best a mid-western farmer can expect to do these days.
Guy

I remember reading that China has diversified its state holdings by buying Bulgarian farmland.

Originally Posted by coleguy

20% profit after five years is terrible. Then again, maybe thats the best a mid-western farmer can expect to do these days.
Guy

IDK where that comes from. My land has more than double in the last 5 years, and quintupled in the last 18. This is just sale price, not even counting yearly profits from use of the land.

I would wager to say most midwestern farmers are doing much better in this environment than most. Of course, being farmers, they would never admit that.

Originally Posted by medoraman

IDK where that comes from. My land has more than double in the last 5 years, and quintupled in the last 18. This is just sale price, not even counting yearly profits from use of the land.

I would wager to say most midwestern farmers are doing much better in this environment than most. Of course, being farmers, they would never admit that.

Federal farming subsidies. That's where the REAL money is.