Next Level: GOLD $1,350.00

Right, I don't think there is anything wrong with releasing some of your PM's to capture some profits. Especially for silver buyers who bought at $10!!!

My gut is that we are in undiscovered territory. What we're seeing in PM's right now I don't think is cyclical. It's not like gold has reached these levels numerous times in the past. And our national debt is one big snowball that's building more and more momentum on every turn, becoming a bigger and bigger snowball as it goes down the mountain.....that's how I see our debt and ever increasing interest.... How do you stop something like that?

It's funny how they say don't put all your money in one basket. But if you think about it, the majority of the people do have them in one basket, and that is in the form of USD!!!

 

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Taking some off the table is fine to do based on the individual investors goals. Selling too soon for short term profit hoping to buy back on dips can cause you to loose your position eliminating certain gains that holding for longer term potential might have brought you. Just something to consider if you have such ideas and capable of investing longer term.

 

you are right it is definately dependant on the indivduals goals, I was just pointing out the third option that gets little mention when it comes to investments. It just seems to me that especially in this current market environment the people making the mad dash to PMs buy in fast with a lump sum and expect to sell off all their holdings at once when the time is "right" with no real strategy. Or expect PMs to preserve their wealth, not realizing or choosing not to believe that PMs very volatile.
I was really talking more about realizing some profit from long term holding as an option to selling off all ones holding and if the person chooses reinvest "if" the market dips or putting your money somewhere else.

 

The following article was posted on Drudge yesterday (still there today..) about (sortof...) the same thing, maybe? Well, an interesting article anyway; has me wondering a bit. Not too concerned about Goldline specifically (though they are in my portfolio..) but the underlying message.

http://seekingalpha.com/article/225579-congressmen-weiner-and-waxman-set-gold-hearing

Most people cannot AFFORD to buy gold. Period. They don't see the whole (broad) picture too well either. And you're a whack job when you try to explain it. (Not you, I mean just anyone trying to explain it..) IMHO

 

The Congress and Your Gold from The New York Sun [9/17/10]

I read the same, on another site, so more linkage for readers...

 

Let's hope the rumors that China plans a Gold sell off the raise money do not prove out.

 

A collective, simultaneous toilet flush in China would be enough to drain the fresh water reserves... just about anything done at that scale could effect global markets.

So will they be accepting fiat currencies when they sell off their gold?

 

I have absolutely no idea. lol If I could predict that, I could retire.......wait, I am retired. lol

As I said before, it's all timing. Hit it right and you make out like a bandito, miss it by 2 hours and you take a deeper bath than Shamu. Still, it does keep one's pulse rate elevated.

I don't think they will sell off gold. I think they would ask the US for a loan first that could not be refused ? Probably use the IMF. I mean the entire world needs a stable Chinese government, right ?

 

Please site a reference to rumor? I have not found any...after doing a search. Ha Ha, fiat currencies? Were you thinking ours, maybe? Just what I thought..
Myself, I get the general impression that China is more about acquiring than disposing.. but, that is not really educated thinking, rather, just thinking..

 

I have no idea where Gary pulled that China reference about a pending sale from.

 

The reference to possible gold sales by China was made to me by my son when he was at dinner the other night. I will likely see him when he comes by tomorrow and ask him where he got it. But I had mentioned the rise in Silver and PM's and that brought it up.

His job is such that he has reference to a lot of material every day. He has an awesome memory and picks up on very insignificant items I don't even notice. He can very likely recall where he saw it.

gary

 

I doubt that the information came from a reliable source. First of all, China does not telegraph their moves the way some other countries do. If they did say something, it might be misdirection. I can't think of a reason why China would sell gold or silver reserves since they have been consistent buyers in recent years. What he may have seen were references to increased gold sales in China to individuals. That has been reported recently.

 

CURRENTLY: In US markets for Monday 9/20/10...

GOLD: $1,282.60 -- High so far today $1,283.50
​

Silver: $20.89 -- High so far today $20.95

Platinum: $1633
​

Palladium: $548​

​

 

I'm curious if anyone here is purchasing any PM's at this level?

Anyone? Anyone?

 

We get an awful lot of gaming news being in Las Vegas. With Wynn having such a financial stake in Macau and possibly moving his headquarters there within the next two years, we often get information through that sector. As to whether the Chinese government needs to convert Gold to Cash to maintain is't social programs required to keep the stability there. Who really knows. But if the rumor has come through the channels I suspect it has, it is something that should be kept on the back burner. The Gaming Industry may be in a slump, but the billions of dollars they have lost has not truly affected the operation of hotels here to the extent they would have you believe. Restructured debt loads and tax liability waivers seem to be the biggest benefit.

No, China would not broadcast their future moves. That is why it is a "rumor". lol

Certainly, information like this may be leaked just to move the Gaming stocks. Like everything else, they need to move for profits and brokerage fees to happen. Up-Down, it doesn't matter, as long as they move. I believe most of the players straddle them. So the greater the violatility, the more money made.

Gary

 

I certainly skim for bargains. If I should find any I would definitely see what I could take advantage of.

 

CURRENTLY: In US markets for Monday 9/20/10...

GOLD: $1,282.90 -- High so far today $1,283.50
​

Silver: $20.92 -- High so far today $20.95

Platinum: $1633
​

Palladium: $545​

​

 

My two cents is that even though I'm expecting the price of PM to go up, I would not be surprised to se a "Consolidation" before we see the next big move up. Nothing moves straight up, no matter how much you try to "will"it up.

Generally, dollar cost averaging is a good tactic, because it is near impossible to "Time The Market". So if you believe that long term the PM markets are rising then periodic purchases may be the best way to acquire your position, rather than waiting for "The Bottom".

Unfortunately you have to be in the future in order to know when a market bottomed. Good luck with that!

 

It's all a gamble, even with dollar cost averaging. I mean we look at silver at $20.80'ish right now and wait for it to dip, well, perhaps $20.80 is the dip (eventhough it is high right now) but will got to $22? Then when it hits $22 it may "dip" to $20.80 where someone playing the dollar cost averaging game will buy....

LOL, I really think it is all a crapshoot with a little education and luck thrown in. I agree it has to come down somewhat, right now it feels like I'm holding my breath more and more as it gets higher and higher...

We need that "release" valve so that it can dip only to go even higher down the stretch!!!

 

CURRENTLY:

GOLD: $1,283.70 -- High so far today $1,284.80
​

Silver: $20.93 -- High so far today $20.97

Platinum: $1639
​

Palladium: $546​

​