anyone notice the prices of metals today?

Gold $851.80 $852.80 -11.30
Silver $16.15 $16.20 -0.35
Platinum $1,862.50 $1,872.50 -60.70
Palladium $409.65 $414.65 -12.10

dang....gold dropped quite a bit in the past couple weeks. silver has dropped nicely too.

anyone thinking they might drop some more? i dont know anymore. i thought it was gonna go back up and this week proved me wrong. i guess those who can afford to should buy more now while you can.

 

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down the tubes!

Time to buy?

 

i'd say so.

 

USD raised against major currencies, making the prices of precious metals "fall".

 

Aw nuts. I was going to finance my coin show purchases by selling some gold. Guess that's out now.

 

Prices of metals didn't fall, the dollar gained ground for a change. The stronger the dollar, the more it will buy, thus the effect of lower commodity prices.
Guy~

 

There is little reason for the dollar on its own to rise right now. I believe that most of the recent strengthening of the dollar is strictly relative to other currencies, i.e. other economies are having difficulties that are making their currencies less strong in comparison against the dollar, not that the US economy is driving a stronger dollar - much to the contrary.

And also overextension of commodities in general.

 

Should I wait for the price of silver to drop before...

I know silver is at $16.17 right now, and that most dealers online Apmex, GoldenEagle, etc, have reduced their 20 coin rolls of ASE by up to $100 per roll since yesterday...lowest price I found so far for 2008 ASE roll today was $375 plus shipping.

Question is, I want to purchase, but feel like it's a gamble. I'de love to see the price of silver go under $16, but, do you "experts" think it will? :hatch:
I've read that it may go lower on forums like Kitco Silver Discussion... but I'm more a novice at knowing where silver will be headed in the next couple of months.
I plan to hold onto my aquisitions for at least 10-20 years, then probably sell 1/2 of it.

Should I wait some more?
Thanks,
Laura

***oops, I meant to create this as a new thread, can someone move it for me??*** (I fixed it:computer

 

It depends on how long your willing to hold it, ie. silver,gold.Long term ,more than 5 years I'd say buy. rzage

 

This is the wrong question to ask. I assume you are buying for investment, and any investment program that depends on guessing the bottom is doomed to fail. If you buy at $16 and feel emtionally crushed if it goes to $14, or elated if it goes to $18 and begin thinking about selling, then you're doing it all wrong and probably shouldn't buy at all.

 

Cloudsweeper99 (judging from the number of posts you have under your belt, you probably know alot and so help me out),
then, what is the right question to ask ? I wouldn't feel emotionally crushed about missing out on a couple dollars less when purchasing for investment. I just thought I could get a little more perspective from all of you here at the forum.

If buying for investment now while Silver is low in price and stowing it away for 10-20 years is the wrong way to do this, let me know what you suggest that I do.
I intend to buy alot now, and sell once it goes around or above $50 an ounce.
Thanks....all opinions welcomed.......that's what is helpful about this forum.

Laura

 

I agree with this, and not in any mean or derogatory way. Regarding my large number of posts, don't confuse quantity with knowledge. There are a few things I think I know pretty well, but there are many many people here who know far more than I do, including all of the moderators.

 

Oh my goodness - this is special!

All it means is that they have keyboard shortcuts setup for all the smiley face thingys.

No offense, but this is one of the most absolutely HILARIOUS remarks I've ever seen.

 

The only thing I'll add is don't be afraid to start small. Silver Eagles are bullion. You may at some point want to buy some older coins with numismatic value. Nothing wrong with getting a few Silver Eagles but I never bought a whole roll myself. The first ones I bought were $12 and $13 each. In 2006 I got several at $14 to $15 each. I skipped 2007 entirely and only have one 2008. Why pay well over spot for bullion?

 

Well,
I paid $25.95 ea for 2008 W ASE from the mint, and even though it was just luck, I recieved (6) of them with the 2007 reverse....I guess that's pretty good, don't ya think? and, by the way, I only ordered them from the Mint just because I wanted to see what luck would bring me....I NEVER buy uncirculated ASEs from the Mint!!!

Laura

Oh...and I started out many years ago buying for numismatic value only...maybe I should revisit and steer myself away from bullion and go back to that again.

 

According to the above chart silver is not "low in price".

 

Relatively speaking that is....of course it's not as low as it once was, I was only asking for opinions of what it may do in the next couple of months !!! Smile

 

If I knew the answer to that . . . . . . . :whistle:

 

Bottom line is, it's all a crap shoot... nobody can predict the market. There are a few "experts" out there that talk like they know the market, but in reality they're just making guesses too, albeit an "educated" guess.

If you really want to invest for the future, the best advice anyone can give you is to not put all your eggs in one basket... diversify. I believe I read somewhere that precious metals should make up no more then 10% of your portfolio. As to what the other 90% should be, well your guess is as good as mine! lol