Silver Plunges

Along with Gold too, perhaps the time to purchase 'again' is nigh...

 

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I was just thinking that it might be a good buying opportunity. I don't think gold will go to $500/oz, or $10/oz for silver any time soon though.

 

It is a pretty stunning fall! I am not certain why the selloff is occuring right now, but I am staying in. There is still a ton of uncertainty out there, and the Middle East is exactly as bad as it was a week ago. But I have been wrong before....

 

I don't understand it either. But, the wife was hoping it would go down before we bought any more. (She's the boss!) Otherwise I am staying in too. Perhaps just a false hope economic and credit recovery, and it will go back up again soon.

 

http://www.kitco.com/charts/livesilver.html

down 1.34 and counting...

 

About twice a year, gold and silver take a breathtaking plunge in price. Sometimes it happens quickly like today, sometimes over several days. Every time, everybody gets excited and runs around the room as if their pants were on fire. There is a very high probability that today doesn't mean much in the long term.

 

I would have to agree with you. Yesterday, everyone thought that the stock market hit bottom and was poised to continue up. Look what it's doing today. (Hint : Way down)

 

I think it's time to buy. Has any one bought the wholesale silver from ampex.com? I guess they send you anything they have, can be ugly but its still .999 and weighs right.

 

Gold to silver ratio is now at 51.40

 

It's time to sell IMHO, gonna hit $16 is my prediction.

Phoenix

 

I'm hanging on to what I have for now. Kind of a wait and see attitude. Not for nothing, the Bald Eagle sets are going for some pretty high prices now on eBay. much higher than a few days or weeks ago.

 

Don't sweat it unless you were in it for a quick profit. Nothing has changed in the fundamental economic problems. Today the DOW dropped half of what it gained yesterday. Gold dropped about $60, then cut the loss by $6. Europe finished down and I expect the Asian markets to have a bumpy day.

I expect Gold over $1000 by the end of the month if not sooner.

If you bought Silver on speculation, do what makes you comfortable but if you bought silver coins as coins, hold them and see.

 

Bullion prices haven't really changed much today. It's the dollar gaining ground for a change, at least according to my portfolio newsletter. Even oil took a sharp drop...not that you can tell when filling up yet.
Guy~

 

Kind of scary but I never paid more than $8 for mine and that was silver eagles. Watching though for sure.

 

hooray good news time to buy a bunch tonight. i hope the darned thing goes down to 800 before the next heritage uction i have to build a collection

 

I hope it goes back up - I have more gold and silver I want to trade in.

 

Yep.

 

market is up, commodities are down. and visa versa.

the market is an indicator of the future on the economy, not the present.

and the two biggest emotions that drive your actions: fear and greed.

but ya'll knew that. :kewl:

The recent market acceleration is only temporary in my opinion. This will be a dull year, but also provide opportunities for long term growth (through dollar cost averaging and a steady investment plan). If the job statistics continue to show signs of distress, things will get ugly over time.

 

Down another $1 today (so-far) and no news... What is the price of oil doing?

Take Care and Hang On for the Ride
Ben

 

Oil fell 10% at opening, now below $100 because of fears of demand erosion. I read the stronger dollar is causing sell-offs in commodities (gold, silver....) due to higher prices of holders in other currencies.

TRT2 is probably right in that it's just temporary, though it would be nice to see the economy improve for a change.
Guy~