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

Something like fair-weather friends?

 

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Seems so.

 

All I can say, is that just a few weeks ago we were speculating on Silver hitting $21.50. We nearly saw $24 before profit taking occured on a large scale. But even so, I am in a better position today than a month ago as I am sure are all of you. Until factors change and interest rates rise, we should see upward movement. IMHO

 

Really not sure what you are trying to say nor why you quoted my post...

 

Interestingly, one of the news stories this morning was that the USD for the first time this year was positive to the world basket of currencies. And some of my chip stocks hit peaks highest since 2008. I had to sell several call option pairs as they had made me all of the money they could be expected to do. Investment is risky in all areas, but try not to put all the dynamite in one truck.

It is my thought that many big players on the street has been busier pushing gold and let earnings slip by them.

Jim

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I'm not happy about the silver. It makes my Morgan purchases more expensive.

 

Texmech, I suppose that your purchased your Morgans for investment purposes..so I'm thinking that if you would go all the way back to post #3, written by Elaine (the elusive woman who began this post) you'll see how silver has tracked over the last number of years. That would be 'up' overall. Moves up, then back then up, then back, but ever so slightly making ascent.. Keep looking at the 'big picture' and not the day to day movement, otherwise you won't sleep at night! Myself, I was criticized greatly for not responding to market conditions by selling about 4 years ago (missed the boat and all that..) but it wasn't time, and isn't time right now either. The "trend" is still up, and I suppose will continue that way for a time longer.. Lucy

 

I don't buy for investment. Have not nor ever plan to sell anything. Just for my personal hobby. Maybe one day I can pass the collection on to a gran kid or something. That's why I don't follow the Gold or Silver markets other than the impact the Silver has on my Morgan's, quarters and Dimes.

 

Then perhaps the pricing is really just incidental to you, just disappointing for the moment sorry

 

If it weren't for the fluctuations, I don't think there would be much of a market. Brokers need movement to get their commission fees.

Just a reminder, don't sell where you buy. Some of the guys get hurt feelings when you turn a profit at their expense.

gary

 

If people get hurt feelings from you making a profit then they shouldnt be in business.

how does that profit hurt them?
you bought $1 worth of silver quarters for 12x face value last year. Now the dealer is buying at 15x face and selling at 17x face. So you turn a profit of 3x face on your investment. They should be glad you made a profit cause now they can resell said quarters for 17X and they make a 2x face value profit for merely being the in between guy. I actually wonder how many times any silver quarter has circulated as a buillion piece. Would be kinda interesting to see how many times certain coins have changed hands from dealers to buyers and back and forth and just how much profit a single silver quarter changing hands like this has made in all.

Anyone that gets emotional about business matters needs to get out of it cause they are too deep in it. Isnt everyone making money a good thing? I mean that's an economy... I work or invest and then can use that profit to do other things I wish to do with it.

 

Will a strong end to the week bring our grand precious metals lady back for another fix...

Gold and Silver back near range last seen about 10 days ago... Platinum and especially Palladium have been strong this week.

Currently: In US markets for Friday, 10/29/2010

Gold: $1,351.00/oz. -- Low: $1,346.60, High: $1,352.70
Silver: $24.15/oz. -- Low: $24.07, High: $24.19
Platinum: $1706/oz. -- Low: $1,693, High: $1709
Palladium: $643/oz. -- Low: $634, High: $645

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I think someone might make a presence today!!!

 

The current news about suspicious devices on airplanes from Yemen may drive the prices upward more. I think news of terrorism or threat of it causes spikes ? I haven't bothered to track that aspect, but it would seem that it would ?

 

PM are appreciating in US $ because the Fed is monetizing the debt - devaluing the currency!

The Treasury continues to sell Treasury Bills and notes and the Fed turns around and buys the same debt back with paper money. The Fed already has pumped $1.7 Trillion (That is Trillion with a Capital "T") into circulation and immediately after the mid-term elections, the Fed will announce an additional $1 Trillion - $1.2 Trillion additional intention to repurchase our debt. All of those extra dollars floating around in circulation means the purchase power of the US $ goes down compared to other currency. That foreign made car you drive, and the watch on your wrist, etc. will cost more to replace in US $$. The cost of those same items in other countries will not change. The price of PM in US $$ will increase also, but not in other currency. That's called a devaluation of the currency. The elected officials and Treasury will use other words to describe what they are doing but, the result is the same.

The supply and demand of these PM will effect the price of PM, on top of the effects of the devaluation, but the Big mover of the price we pay for PM is the Devaluation of the US $$

You can't fight the Fed, especially when they start buying a Trillion $$ of Treasury debt.

Have a pleasant weekend

 

Currently at $1357.....waiting for someone to show up......should I hold my breath?

 

acing:

 

Interesting?
http://noir.bloomberg.com/apps/news?pid=20601010&sid=aLigPpbxbK24

 

Interesting article. And it's from Bloomberg too....isn't that considered MSM?

The last part is also interesting in that they point out the naysayers are actually helping individuals like us who do plan to buy PM's....by suppressing the price by talking about it negatively because they don't really understand.

I'm only guessing, but it's already just about too late for the general public to get into PM's. I was not able to convince any of my friends to purchase gold at $1,000. There's no way I'm convincing them now at $1350-$1400....

It's a vicious cycle of continually getting caught out of position. The longer you wait, the deeper you get in the quicksand....the harder to get out....

I just don't see the average joe buying PM's at this point.....who has $1300 for a coin these days?