Forecasting Precious Metals: Information, outlooks and speculation here.

Predictions for next week 7/19----

-Gold to get back up to 1220,
-18.5 for silver.
-The big 3 in the stocks looking choppy as hell, probably with more declines back below 10,000..maybe even down to 9500. If this happens along with the USD taking a hit id imagine gold could bust 1230 or higher depending on how strong things are happening. Dow lost 260 on friday alone, whilst it takes 1 step forward it takes like 4-5 back. Takes all week or 2 weeks to regain 1000 points whilst it takes a few days to decline it again.

Other thoughts:

I think as of now Gold is coasting along, because everything else is doing the same, but if the economy were to take a turn for the worse, along with other countries that have their hands in USD,PM's may rocket up quicker than we are use to seeing.

Look at the 5 year chart for Dow Jones on Etrade:
http://tinyurl.com/28newxj

IDK about the rest of you but that graph looks bad. All the money that is being spent to retain things isn't even keeping the outlook looking positive. Almost like its running out of gas or steam. And you do not have to be a rocket scientist to notice this.

 

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“The story of Spain, Portugal and Greece is now calming down and people are taking their chips off the table. So, we are seeing gold under pressure,” said Jeremy East, global head of commodity derivatives trading at Standard Chartered."

http://www.business-standard.com/india/storypage.php?autono=401711

Gold may fall to 1169


OFF kitco....haha calming down? I never knew people rioting because they are garnishing benefits promised to the people is calming down. Even heard about talk like that going on here, saying raising age to claim those benefits to a higher age..wonderful. That was also the day when the Dow bunked -1000 and ended up losing like 300 for the day. Then people have the nerve to say some guy had a big finger that caused it....How stupid do they think we are. I love getting talked down to. I'll see you guys later im going to sell all my metals for bonds and CD's.

 

Rebound on the day:

Gold is back up, I love how it takes hits and still rebounds nicely . Mainly rebounding from the buying while its down/low technique, as it took a hit yesterday.

Id expect it to return over 1200 by tomorrow, assuming people will be buying/getting the price back up.

 

The lows will be higher and the highs will be higher. Inflation is there weather the government says it is or not. I'm paying more for everything, from utilities, to groceries. I do think that

I think that eventually silver will reset it's price ratio with gold to the natural amount (the ratio of silver/gold in the ground). That ratio is about 17.5/1. So if gold is $1200 silver should be about $70. I think it will get there and exceed it. I think will will see a repeat of 1980. When silver hits that price ratio I will sell all of the silver I consider junk (non collectilbe).

 

Im buying it as a commodity/investment, Cause say things get really bad and you got a silver proof set...folks are not going to want to give you $$$$ other than what its melt value is. Although your folks who deal with PM's probably have tip top quality stuff and average materials, therefore they may trade their scrap in for the collectibles/higher quality merchandise.

Metals up today because of the USD dropping. Kitco reference.

Stimulus package 2 please :hail: