You know what they say about gold/silver bugs, preach enough about the prices and they will eventually be right. For me, bluffing about selling, and one day I will actually sell!!!
I don't want to be 50 years old when that happens. I know silver will take it's dip. I've seen this movie before. If I can sell silver at $19.50+ I know I can pick it up later for somewhere in the $17's.... I'm actually trying to get rid of my ugly 10 oz silver bars so I can replace them with ASE's...eventhough premiums are higher.....
I have to say that I agree with the eventuality of x or y price idea, which is why I think these threads are pure folly, however I see the potential for silver more up in the range Elaine just gave, also, I'm not worried about being 50, 60 or 70, it's even longer range concerns over wealth protection I think we have to consider, what with modern medicines and longer lifespans.
CURRENTLY: In Asia-Pac markets overnight for Wednesday, 9/1/10, GOLD: $1,248 Silver: $19.37 Platinum: $1,529 Palladium: $ 507
CURRENTLY: In Asia-Pac markets overnight for Wednesday, 9/1/10 GOLD: $1,248 Silver: $19.37 Platinum: $1,529 Palladium: $ 507
Nobody under the age of 50 has seen this movie before. But I'll tell you how it ends. Silver will continue to go up and down -- right up to the day when it goes up AND KEEPS GOING. In the meantime, a large percentage of folks who have been investing in silver for years will have sold in anticipation of the next dip -- a strategy that has worked now for a long time, and will not own as much silver as they could have during the biggest gain in silver prices in the life of most of the people here. That's what markets do -- fool the greatest number of people into buying or selling at exactly the wrong time.
Oh! What I would do to be 50 YO again! LOL This time may be "slightly" different than historic market fluctuations. Most of the developed nations are accumulating massive amounts of debt while their working, tax paying populations are declining. What happens when these developed nations are no longer considered credit worthy? PM may once again become an accepted, no the only currency accepted for the exchange of goods and services. Seems like a radical thought unless you really read the main stream financial press. Do what feels right to you, and good luck.
Thank you. And of course I was in no way referring to 50 years old as being old. Brad Pitt and Keanu Reeves are approaching 50 and they look great! I just don't want to wait that long, but what are my options? If PM's rise due to currency devaluation, then when do they stop? Do the continue to peak forever? What goes up must come down right? Will creation of a new currency bring down the prices of PM's? I don't know...but I am very curious to know what conditions will occur to top off the prices of PM's....(manipulation aside) I don't trust MSM one bit when it comes to "accurate/trustworthy" news...
But the question, old fellow, is, are you lookin' great? I'm sensing some stress here. Time for some aroma therapy candles.....
Nahh, not really stress....I'm just sitting in my chair wiggling when the teacher is telling me to sit still!!
It's fun reading all this. Everyone says "Oh I'm just 'preserving' wealth. But when the good old silver index gets close to $20, all bets are off and everyone is selling grandma's silver to make a buck. Hilarious.
I think werewolves are going to multiply if these prices keep going... btw a month ago I bought 80 /ASE's for less then what the spot price is now drill baby drill!
CURRENTLY: In UK/EU markets Wednesday, 9/1/2010 GOLD: $1,254 Silver: $19.51 Platinum: $1541 Palladium: $521 US market opening in an hour twenty minutes...