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

LOL! Heck no! But you can take your pick of celebs, politicians or brokers for the joke of adding a disclaimer to our threads too. :thumb:

 

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$1384!!!!!

 

You got me on the currency question. I don't much watch them in regards to PMs but have been shocked seeing $1 to ¥81.90!

 

I sense the Kitco site will take a nap this evening.

 

This is TPTB saying, "we dictate the price. When we say jump, you say how high"?

Someone is demonstrating their control....

 

ICE Clear Allows Gold Bullion Collateral from emii.com [11/09/10]

Also from the FT on this story. [Note this link may disappear later.]

 

Interesting. We are living in uncertain times. But there is something I'm certain in, Washington will continue to be incompetent no matter who runs the show..... They never will protect your family, only their self image. Everyone has a duty to do what's best for yourselves.....

When the President said you'll never lose a penny in an FDIC insured bank account he was 100% correct. Knowing that he never promised it would be worth anything however.....


Are we now beginning to see gold coins being accepted again as money? Is this just the beginning?

 

That debate goes round and round here on these type forums. I don't know, but I feel it would be unlikely based on what I have read others debate on the feasibility of doing so. It's tricky economics that I can't quite tangle with given my understanding of the principles involved.

 

are people selling off for profit taking? or is this just a normal drop and it will start moving up tomorrow or maybe this week?

 

This was a $30 drop off....I'd like to know what exactly happened myself.....

 

Fortunately, I'm still long on tinfoil.

Seriously, I don't think the runup was a vote of no confidence in fiat money, and I don't think the correction is a vote of confidence in it, either. Silver is a commodity. All sorts of things influence its price -- especially irrational exuberance. Long-term, though, I have more confidence in the value of silver than the value of the dollar.

 

As long as you are not cash poor, I really believe PM's are a safe bet. If anything, they will maintain value. I just don't see silver dropping to $5 again or gold going back to $300....if they did, it would be absolutely devastating.....It wouldn't kill me but wow I would be sorely depressed......

 

Why not?

It happened before, and IMO, it will happen again.

 

Well I don't want to jinx anything. If it does happen, I sure hope I have completely abandoned the PM ship!!!

 

I hope that all of you silver bugs out there in CoinTalk land have your seat belts strapped in tightly because the silver roller coaster is a wild ride.

 

Ready. Set. Go!

 

Currently, in UK/EU markets for Wednesday, 11/10/2010:

Gold: $1,400
Silver: $27.60
Platinum: $1,770
Palladium: $702

US markets open in approximately an hour and twenty minutes...

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Not much activity at all overnight.....today will be very interesting.....do we go back up to $1420 or is this the new plateau for awhile.....

 

Currently, at the US market opening for Wednesday, 11/10/2010:

Gold: $1,402.80
Silver: $27.71
Platinum: $1,768
Palladium: $711


Dave Harper's BUZZ blog ruminates on the psychological factor of round numbers and PMs:

Look Into The Hypnotists Eyes [11/09/2010]
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Interesting article. I can definitely see that.....if I do purchase anything soon, it will be my last purchase until next year.

Or I might just hold off completely until next year. Like you said, this is kind of a high peak period because of the holidays....