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

This very well could be the pull back, and no one sees it. How long can D.C. sell gold and silver short. Even the help they get from Goldman Sachs will not create more real money. They want yours ! What you have in a bank ,brokerage house or in your mattress will be devalued while you sleep.

 

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This is a personal acnedote that can't be disputed or challenged since you didn't give any source that can be verified. However, the huge increases in the money supply are not accomplished these days by printing currency. In fact, the amount of circulating paper has remained fairly static if not going down. The huge increases are electronic and have not been released into the system and are instead, being held by the Federal Reserve. This is why there hasn't been whole scale inflation related to the huge increases. So the amount of OT of workers at the BPE is irrelevant and isn't a predictor. It's easy enough to simply go to the US Treasury and Federal Reserve websites and look at the US balance sheets. It's not a secret and no insider contacts are needed.

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The rise in gold and silver prices is not due to direct inflation (i.e. caused by increases in money supply). What is happening instead is that actions of the government, have shaken confidence in the United States government in terms of fiscal policy and the $ is suffering because large holders of this debt are looking for alternatives to protect their reserves. Thus gold is going up because other countries are looking to increase their reserves of this metal to offset losses in their $ reserves. These countries still hold $'s due to one important fact that should not be lost on anyone. It's the only way to buy oil. The US government insures, based on it's military that any country with $s, can buy oil with that money. It's a powerful motivation to hold US dollar reserves and one lost on most people. Still, the countries don't like what the Federal Reserve is doing and are buying gold as a hedge. This is one of the reasons that China, aside from buying gold itself, is encouraging its citizens to buy gold as well. They apparently believe that if there is some sort of return to gold as a standard, then their population will already be used to it.

Silver on the other hand does not have the same role in the world financial system and is not dependent upon this sort of activity. It's rise is in part symbiotic and in part due to some sort of ongoing activity that seems to be taking place on silver contracts at the Comex. IMO, it's a much more risky investment and one that will be quicker to surprise it's holders.

 

silver break 30 year high again. now at $23.69/oz.

gold today's high at $1,356.40/oz.

 

Oct 10 2010 9:12PM NY Time
Bid/Ask 23.52 23.55
Low/High 20.66 23.69
Change +0.30 +1.29%
30DayChg +3.64 +18.31%
1YearChg +5.82 +32.88%

Oct 10, 2010 21:11 NY Time
Bid/Ask 1352.50 - 1353.50
Low/High 1344.10 - 1356.40
Change +5.50 +0.41%
30daychg +105.00 +8.42%
1yearchg +302.80 +28.87%

 

We have little to compare, a long wide spread down turn, except the great depression. Gold was not involved, silver was 90% pocket change.Paper for gold was quit a scheme
Because oil is denominated in $U.S., it does not mean a basket of currencies could not be favorable for trade & mixed to meet payment demand.
After watching currencies being inflated world wide to get a handle on costs vs GDP. The Eu is looking at gold and should be on the minds of people for years ahead. Countries are buying up what they can afford.
Silver is in industrial use and if some of the very new silver based batteries come out and improve longevity for vehicles of pure, and mixed electrical power silver will move .Anything that requires a current carrying metal silver is unique in power transfer.
During WW11 we ran out of copper to make U-235 from U-238. A large volume of silver was borrowed to wire a very inefficient large Calutron to finish one of the Bombs.It worked, and the wire was stripped melted and returned in its original form to the Mint.

 

a second correction seen again. silver reached a high in asia at $23.69/oz. now new york traded only at $23.13/oz. even hit a low at $23.07/oz. gold also down.

it looks like poor american are always selling. while asian are buying.

 

asian mother - "You better eat all your food, think about the starving people in America...."

daughter - "Why are they so poor mommy?"

mother - "Well, their gov't printed too much money, their people were too busy watching American Idol and sports to care, and it was taboo to buy PM's, so when their dollars became worthless, they became poor..."

 

gold and silver recover again.

 

gold
Oct 11, 2010 10:16 NY Time
Bid/Ask 1351.00 - 1352.00
Low/High 1339.70 - 1354.60

 

silver
Oct 11 2010 10:17AM NY Time
Bid/Ask 23.31 23.33
Low/High 23.07 23.50

 

silver
Oct 11 2010 12:21PM NY Time
Bid/Ask 23.31 - 23.33
Low/High 23.04 - 23.69

gold
Oct 11, 2010 12:21 NY Time
Bid/Ask 1351.80 - 1352.80
Low/High 1339.70 - 1356.40

 

for me. i will never sell my gold and silver. i am waiting gold to go over $2,000.00 per ounce. and i have to think about it. to sell some or gradually. over $3,000.00 per ounce. sell, sell, sell. and keep some that i like. over $5,000.00. sell all of my collection. as for silver. it will be the same as gold. and it depend on the ratio too.

 

WHAT? Your first sentence clearly stated you will never sell your gold and silver.

Preceded by many sentences of how and when you believe you will sell your gold and silver!!!?? LOL!!!

 

Ouch!! Hope that statement never becomes fact!!

 

Well, I think we are living in it right now no? Just hope it doesn't become worse I think....

When you look at gold being $300 in 2000-2001, wasn't the dollar around 120? Now it is 78-79'ish....

I will gladly sell back my gold/silver if the dollar became strong again 100'ish range and our country was back to strength/normalcy...

I have no desire for 3rd world america.....

 

remember once the mexico is the world richest nation during 1700's. do we see a lot mexican silver pesos during those days. rise and fall of a nation. no nation can be always that rich. God is fair.

 

God is fair elainegirl 1970! 3 world America(if it's not already here) is right around the corner!

 

Well our bridges and roads are crumbling, I don't know where we are going to get the money to fix everything. It's very very hard to see America becoming 3rd world, anything is possible though. But if we are 3rd world, then what about the current 3rd world? Do they become 4th world? LOL....

 

Just borrow a couple hundred trillion from me in Zimbabwe money to fix the roads! Lol!

 

today new york gold daily closing is the highest by far. $1,353.90/oz.