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

I somehow feel that those who predict the direction of a stock or PM are just like those who handicap sports. They take all the information they can get and make a guess. There are just too many varibles. That is why I try and follow trends.

 

Log in or Sign up to hide this ad.

PM don't have legs that can break at the start of the bell. It is sort of fun to be aware of what is taking place. There is often a fair amount of news that giggles with major movements in spot price. That is the part I like (the news and price too info).

Thanks.

 

Today seems to confirm the reaction of precious metals more to the US dollar than other worldly factors such as N. and S. Korea, China and Russia wanting to leave the USD for their own currency, etc. Currently , gold is down 14.20 and silver .72, and the USD index is up 1%, so is now the time for those who have been waiting for a dip to buy, or is the thought that more downward movement may be in the near future? I suspect the Euro will eventually solve their problem and the dollar index will decrease, so what seems most prudent, buy, hold, sell and why? Seems that when PM are down,the bullion investing subforum is also, and when PM are up, so is the forum participation, although many are posts, of " I can't wait for it to dip so I can buy some". In investing, money can be made in both directions if one wishes. I know this is just one day's result, but with the weekend coming, financial events ( such as Ireland's problems ) may continue for the better or worse. Hope all are having a good "Black Friday"

Jim

 

+1 to Desertgem's observations.

My I add an other observation. As the price of bullion soars, so does the premium that many are willing to pay over Spot, and the lower the price of collectible silver coins. It seems that when people's attention moves to Bullion that they don't pay much attention to collectible silver coin values.

The five years with the lowest mintage of proof silver dollars was 1993-1997. Many of these "key date" silver coins are selling for a small premium over the 2010 silver proofs being sold by the Mint.

These and other silver coins may not be bullion, but as people pay $6-7+ premiums over spot for bullion ASE's, they may be better values in the long run. IMHO

 

The dollar might not advance too much in the future, but it will barely stay afloat provided other countries continue this trend of "currency wars." This is one of the reasons why We`re starting to hear more about a one-world-currency.....which seems like a long way away, but might be sooner than We expect with more countries` economies plummeting.

If such a scenario will come to pass in Our lifetimes, One has to wonder how the PMs will do in a "one-world-currency" environment?

 

One world currency is something I hope not to see in my lifetime, for it points to something far worse, and is best left to another forum. My guess is dips are times to consider buying rather than selling, as we are still in an overall uptremd. For me, just a time to hold.

 

I'm all for getting back to a currency backed by something that’s actually worth something. Probably not gold as there isn't enough of it to back all the major country's currencies. How about a silver standard? And, if that were to happen, what effect would it have on precious metal prices?

best regards,
Ed D.
http://yoyospin.com

 

I bet silver will hit maybe say 30$

 

It is impossible to get all of the states in the US to agree on a set state tax situation. Some have it, some don't, rates vary, deductions vary, etc. And some of you expect to see a world currency? my , my. I would expect we would be hit by an asteroid before that.

 

I've been watching these fellows on cable TV, 'Meteorite Men'. They seem to have found the next best commodity falling from the sky.

Absolutely!
​

 

Lol....asteroid.....You might want to think about putting away that telescope.
This is an article from Sept. of last year that regards the U.N., the dollar, and a one-world-currency. Yes, the idea does seem like a far fetched dream, but it just might happen sooner than We think.

http://www.telegraph.co.uk/finance/...ts-new-global-currency-to-replace-dollar.html

 

Lol, Here is an article from the same source as yours, about asteroid misses. Of course, scientists had known for months, that they would miss unless something nudged one or the the other a little. They prefer not to tell people as nothing can be done, and they avoid the panic. Similar to financial problems


http://www.telegraph.co.uk/science/...close-encounter-with-two-large-asteroids.html

 

Monday morning, as of 9:35 a.m.
Gold: 1361.60
Silver: 26.76
Platinum: 1634.00
Palladium: 679.00

Anyone change their mind about their "guesses" / predictions for gold high, silver high? I'm wondering at our latest world events..

Lucy

 

I have only been focused on silver lately, but I still think there is upside in the coming months. I was still buying junk silver over the weekend, adding another 28 ounces (I know I am small-time compared to many of you). I think it may flounder through the end of the year (based on history), and then take off again early next year.

Of course, if I were to sell now, it would double the following week.

 

then SELL! SELL! SELL!

 

From the actions since the asian incidents ( China/Russia common currency, N.S. Korea) I am going with the idea that not as many actually support the "hold physical, currencies are all going to crash" hypothesis , especially world wide. When bad things seem to threaten, the USD has been strengthening, and the Irish bailout, and maybe other bailouts will apparently continue the strong move of the USD. But the Federal actions seem to be trying to limit this as it will drive the US more to the importer side of the balance which has caused many problems over the years. On one hand we can be happy that the US dollar is stronger than before, and maybe will be the dominating currency still in the world, but on the other, it seems that PM will have a harder time of it than the basic commodities. Since there are so many unexpected events that could happen in the world, today is a difficult time to try and invest in Bullion, stock, almost anything. Actually chocolate bars ( Cocoa)might not be a bad thing

All IMO.

Jim

 

Jim, similar strength appeared for the USD the last time Dubai announced bailout funding for Abu Dhabi.

If one of the next commodities is cocoa we can still invest in chocolate-gold bullion coins, in which case there may be money to be made in sugar, sugar refining and pharmaceuticals/pharma-research for diabetes related concerns.


Currently After the US market open for Tuesday 11/30/2010:

Gold: $1,386.50
Silver: $27.51
Platinum: $1,658
Palladium: $701​

​

 

Currently:

Gold: $1,383.80
Silver: $27.57
Platinum: $1,663
Palladium: $702​

​

 

we might see gold pass $1,400.00 again soon?. and silver break or touch the $30.00?.