2011 GOLD high $1,500.00, SILVER high $24.00

Currently:

Gold: $1,390.60 -- High so far today $1,391
Silver: $28.31 -- High so far today $28.36
Platinum: $1,669
Palladium: $707​

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I see $30 silver being the glass ceiling for at least a few more weeks. Of course I am often wrong...

 

Pat Heller's latest contribution:

Folks Scurry to Cash in Gold, Silver from Numismaster.com [11/30/2010]

 

Currently: In Asia-Pac markets for Wednesday, 12/01/2010 -- first day of the last month of the year!

Gold: $1,386
Silver: $28.12
Platinum: $1,666
Palladium: $703​

 

I know many don't like to use the ETF stock funds such as SLV, as they felt it was basically paper rather than the hard stuff, and the thinking at that time was physical for difficult times ahead, and perhaps it still is, who knows, but when the price of silver tends to oscillate, if you have a brokerage account why not nibble off a little with SLV options. Since the big peak on the 8th, the price of SLV has gone from 26.00 to 26.50 or better 7 times. If a person bought at the money options at 26, and sold at 26.50, they would make approximately 5o cents a share or $50 a call contract. So if one had 10 calls, representing 1000 shares of SLV. , they would make $500 a trip. Of course history is not a reliable predictor of the future, so use due diligence. My opinion is that silver is going up, but not at a vertical ascent. Just another method of balancing bullion investing.
IMO.

Jim

 

I have dabbled in SLV for a few years and it has been very well worth my time, far better than physical metals. I still have a sliver of an investment in SLV but am nearly out now. I think SLV is one of the "safest" plays in paper metals if anyone is concerned and if your thing is metals, then it's a terrific way to be diversified in the metals markets. Very easy to liquidate when you need to, unlike the reports and articles I've posted and read about, as well as other threads I've seen on CT, regarding difficulty selling physical at this time. SLW and SVM, while different companies withing the industry, have also been stellar in this market. Unfortunately, I wasn't in them during the current run up, but it's still fun to track them on paper.

 

Krispy,(and anyone who may have an answer for me) here's a question for you.. is it really worth it, trading back and forth, then paying gains etc..? I do not ask this facetiously, but seriously. I'm not interested in personal details, I am not asking that. Rather, I'm thinking "down the line" when a reckoning of all comes due. It all seems so complicated, and I'm personally trying to see how to "uncomplicate" things for the future. I mean, someday, someone spends the time "converting" these things to numbers on a piece of paper so that a tax can be computed and paid. (Or not, as the case may be.) And then they use that to pay for the time it all takes for an independent to review it all and actually convert it. Sorry for the wordy question, I'm hoping that with an excess of words you'll understand the complex part of the question. Thank you, Lucy p.s. this is about p.m.'s or equivalent.

 

From my perspective what I described was worth what I wanted from it. I put money in, it performed well, I took those profit and am put them to work in something else that I look to do well in a future context.

 

Currently: First day of the last month of a long dramatic year... 12/01/2010

Gold: $1,392 -- High so far today $1,395.10
Silver: $28.50 -- High so far today $28.68
Platinum: $1,693 -- High so far today $1,697
Palladium: $736 -- High so far today $741
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The goal of a trader is to make money. Whether it is trading gold or trading stocks, the goal is the same. Paper gold (GLD) and paper silver (SLV) are ideal vehicles for trading the gold and silver market.

It has been a long dramatic year. There is no doubt about that.

 

Currently: 12/02/2010

Gold: $1,397.70 -- High so far today $1,399.70
Silver: $28.96 -- High so far today $29.02
Platinum: $1,729 -- High so far today $1,735
Palladium: $771 -- High so far today $775
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The current volume of trading does not suggest a bubble to me. I don't believe people are melting or pawning /grandma's silver tea set. Most likely, it was gone a few dollars downward from now ? I believe the trend will continue as long as the support of our dollar by the fed remains a mystery.

 

No one at work is talking about PM's. Nor friends. The only people I converse with are here. The MSM talks about gold for 1 minute and then goes to another story.

The situation just isn't that bad yet. And I hate saying that knowing so many people are on food stamps. But it's the truth. I'm not seeing the doom and gloom when I walk out of my house.

Until I can see it on every corner, PM prices will be reasonably low for any one of us to pick up.....and by the time it starts to really uptick, only the very wealthy with deep pockets can buy them.

That's why I think fractionals are the underdogs. It's the only kind of gold bullion average Joe will be able to afford if they even go that route..... So premiums may rise on those...

 

gold at $1,403.50 and silver at $29.05. can't believe it.

 

That is the same situation with me. Nobody at work talks about the gold and silver rise. Nobody that I hang around with knows about the gold and silver going up. I do not talk about gold and silver rising to anybody. Nobody at my job and nobody that I hang around with knows that I buy PM's. The only people that know I buy and collect certain PM's are my parents and the online community here and at two other gold and silver forums.

I do not think that there is any bubble in the gold and silver market. I do not see, for example, the average joe and jane sixpack talking about the latest Engelhard Prospector they bought. The only commercials that I see locally are the ones that advertise to SELL your gold and silver. If you start seeing a lot of ads to BUY gold and silver on a daily basis, then that could be a sign of a bubble.

Think about the late '90's tech stock and dot-com boom. Everybody back then was talking about what tech stocks to get in and which ones will go up 1000% in 6 months or less. Every TV commercial back then as talking about stock market makers and active stock trading.

I also think that fractional gold coins will be the ideal gold bullion that the average person will be able to buy and also the fractional gold coins (1/10 oz and 1/20 oz) will be very ideal because it would not trigger the 1099 reporting requirement when selling.

 

London Fix Gold was $1,421 on 11/09/2010

 

I do not see PMs in a bubble either, however, here are some additional things to think about, color coded to correspond to above thoughts:

Maybe they aren't talking to you/us in person the same way you/we are not breaching the subject with them face-to-face. Perhaps they are active on other forums with similar discussions similar to these here. This is after all a discussion that crosses a sort of 'cultural politeness barrier' as it involves money handling and narrows the idea of what ones friends, neighbors and colleagues are doing with their money. Money and salary are one of those topics not much freely discussed so it does not surprise me that few discuss their personal thoughts, let alone specific actions taken on investing and buying PMs. By way of not discussing investment ideas, it may also be a way of controlling the matter so it doesn't become unnecessarily competitive between people nor inspire a run on buying and increase to prices while people are still trying to acquire PMs at current (lower) prices before it takes off (that's speculation IF it takes off like some see/wish/fear).


There's a new Discovery Channel Reality TV series called Gold Rush: Alaska, which premieres tonight, 12/03/2010.

 

Hmmmm, joblesss rates up to 9.8%.....that is ironic because just before I got to work, MSNBC had an article about how more people are getting hired, and economy is picking up....

Does the MSM really know WTF they are talking about? I just went back to MSNBC and I can't find that article now!!!

 

That is a good point Krispy. There are other gold and silver forums on the internet and as you mentoned, they are more than likely having the same discussion about PM's that we are having. It also makes sense about what you said about other people not freely talking about money since that seems to be one of the taboo subjects especially on the job.

I still think that if the gold and silver run kept going and it ended up getting the same attention as the late '90's tech stock boom, then there will be more people discussing PM's freely since it would be all over the news. They would probably be discussing PM's in general but not specific actions that they would take. We will have to see what the future holds on that.

 

Nope. Not really. They probably took the article down because they probably realized that it probably did not jive with the current unemployment rate. I guess that today's official gov't unemployment numbers took down the MSNBC article.