Next Level: GOLD $1,350.00

US markets closing in about 10 minutes...

CURRENTLY:

GOLD: $1,195.80
SILVER: $18.36
Platinum: $1,579
Palladium: $501

​

 

Log in or Sign up to hide this ad.

CURRENTLY: In US markets for Friday 8/6/10

GOLD: $1,207.80 High so far $1,210.00
SILVER: $18.51 High so far $18.86
Platinum: $1,578
Palladium: $497

​

 

CURRENTLY:

GOLD: $1,210.30 -- High so far $1,211.60
SILVER: $18.58 -- High so far $18.60
Platinum: $1,583
Palladium: $499

 

Looking good!!

 

unlike the jobs report today that spooked markets a bit

 

I think people have to get used to bad job reports. Even if they are somewhat good, the numbers would be skeptical!!

 

I would think the markets would know that already, or by now with the current state of the economy, but they still take an easy fright over such reports, especially when going into a weekend during a slow point of the year. There was also a report mentioned in the media recently about the number of US citizens applying for resident visas in the UK to escape the changes in the economy. I can't imagine it has to do with taxation or the cost of living choosing to go to the UK of all places! And I don't think this story was piggybacked on issues of other groups immigrating to the US and chasing out wealthy Americans deciding to go expat to the UK. I thought all those who bailed the US did so prior to the current administration taking office. I guess not.

 

I'm interested in the "expats" issue. Do you think there is more to it or just a handful of wealthy that have flocked away? I find it hard to believe that out of all places you would flock to the U.K.!!

I hear that Australia is the place to go, but again, I don't know too much about how they treat their citizens.

 

I am utterly clueless about the choice anyone would make within this topic to go to the UK except for the similar language, culture and higher standard (and cost) of living there. Plus it's not as cold as Canada or as far away as Australia and NZ are. Expats may still like to hop across the pond for the holidays and to visit family here on a 8 hour flight vs a 30 hour flight from down under. Singapore also tries to lure wealthy Westerners particularly those in banking and finance from America. They readily give out citizenship if you bring enough wealth with you. If you come by any articles on this topic I'd be interested to read about them, esp. if they have a business/investing tone about them and not just a personal political distaste these expats have for the current administration.

 

CURRENTLY: At the US market open, for Monday 8/9/10

GOLD: $1,205.90
Silver: $18.48
Platinum: $1565
Palladium: $492

​

 

Anticipating what this week brings us! I have yet to sell or buy any PM's....I'm either being smart about it, or being a sucker!!!

 

It seems that you have been wise to be patient, not selling, so far. :smile

 

Yeah, but I've been on this road before. I struggle with two options.

1) Will PM's continue to rise basically FOREVER, or at least until the next 30-40 years of my own life that makes it worth holding onto and selling only when need be.

2) There will be a point where it is no longer necessary to hold onto PM's. If so that means we either have a new currency or our economy miraculously has grown so profitable that we've paid off our $13 trillion debt within the next 30-40 years...


I mean, it could only be one of the two answers right?

 

Each answer has a lot of possible factors that could be the catalyst for holding/selling. As you know most of our crystal balls are defective and we can't say with any certainty which of the two let alone the myriad sub-factors within each of those may lead us in the right direction. I'm for buying and holding long (or at least some few years longer) term, esp. if you've got 30-40 years yet to work with.

 

That was my last years goals. And they still are, I suppose it's healthy to revisit your goals from time to time to make sure they still make sense. I am too lazy to be part of the "buy low sell high" game. I don't think my returns for those efforts are worth the effort because I wouldn't be buying in large chunks. And the premiums on gold alone would be a wash if not even a loss.....plus that is more suited for ETF holders now physical.

I like where silver is at right now. Not very happy with gold but at least it's above $1200....(for now)....

Next year might be turbulent for gold, depending on what happens with the gov't,healthcare and IRS....

 

Speaking of where Silver is at, I was just reading this article:

Something Big May Be Brewing For These Silver ETFs (SLV, SIVR) [from etfdailynews.com 8/8/2010]

 

Yes! And I've mentioned something like this before in an earlier post about where silver is at now and where gold USED to be. Now silver is back to it's close high's, but gold is nowhere near its peak...

I'm not sure what C-wave is, and it confuses me more how the author talks about "final stages". I don't know what that means exactly....what is after the final stage?

 

I honestly don't understand well enough, nor know how to employ such technical chart analysis lingo myself. I also don't think the author of that article did a very good job of explaining it to us readers either. I responded to his indication that silver was not tracking gold as I'd just watched this myself in days prior and recalled similar comments expressed here in the forums. From my limited understanding there are a few different type of performance wave patterns (used especially in commodities like this article has) that are employed as indicators of what's happened to foresee what may happen next. I have seen A, B, C and D-waves used on gold and silver charts as such: A = Advance, B= Decline, C= Advance, D= Decline. Does it end with D or continue on alternating between advances and declines? I'm not entirely sure. It may only go a few steps then repeat. I'd like to know if anyone has more info on who this works. Such speculation based on past performance is risky right because no one can say what is coming next, so I take the charts and this authors authority on the matter with a grain of sale. This wave pattern analysis reminds me of Elliott Wave theory which I have tried to understand but do not yet grasp. Curious to know if they are related / one-in-the-same???

 

CURRENTLY:

GOLD: $1,203.30 -- High so far $1,209.70
Silver: $18.35 -- High so far $18.59
Platinum: $1561
Palladium: $487

 

CURRENTLY: After the open in US markets for Tuesday 8/10/10

GOLD: $1,193.10
Silver: $18.07
Platinum: $1543
Palladium: $481