anyone else think that this will be a big downward week...

Discussion in 'Bullion Investing' started by Danr, Jun 24, 2012.

  1. Danr

    Danr Numismatist

    ....for gold and silver? I mean I am detecting an overall downward vibe on this. Honestly I'd love to see $20 on silver
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  3. Kirkuleez

    Kirkuleez 80 proof Supporter

    I'm thinking a $22 dollar low is coming soon. I will buy all the silver that I can when that happens. I recently sold off hundreds of ounces when silver hit $48.00. I paid less than $5 an once for that silver. It's time to stock up again, I am down to 50 ounces at the moment.
  4. Danr

    Danr Numismatist

    nicely done sir!
  5. Kirkuleez

    Kirkuleez 80 proof Supporter

    Actually if I had waited another week, I would have gained almost $900. But I'm not complaining, the profit was crazy high already. I really had a feeling that it would not reach $50.
  6. bkozak33

    bkozak33 Collector

    I think its going under 20.00
  7. elijahhenry10

    elijahhenry10 New Member

    I think that it will go back up to about $30, but overall I see it dropping to $20-.
  8. PeacePeople

    PeacePeople Wall St and stocks, where it's at

    Just out of curiosity, are you guys picking $22 out of the air, or did you read Clive Maund and use that as your basis.

    Personally, I have no idea where it'll go and wouldn't mind it dropping to $22, I'll just keep on buying and see if my savings account grows or shrinks by the end of the year. I'll take that risk over the .5% interest on cash in a savings account. Make no mistake about it being a risk, because it is.
  9. InfleXion

    InfleXion Wealth Preserver

    Clive Maund has called smackdowns before, a pretty good guy to piggyback, but nobody's perfect. I am not sure which is more likely, but I give 2 possibilities a high likelihood based on chart analysis. Either this is the new low (QE2 support intact), or it will eventually break down to the 2008 high around $21. I regard either scenario to be bullish because both the 2004 and the 2008 blow off tops were massive and still paved the way to new highs. Nothing has changed fundamentally.
  10. fatima

    fatima Junior Member

    A few months ago, people on this forum were predicting a return to $50/silver and beyond. I give these predictions the same likelihood of happening.
  11. jjack

    jjack Captain Obvious

    There are always people making wild predictions but as i said earlier $50 silver is unlikely unless dollar devalues or world economy heats up neither are happening any time soon, if Silver and Gold go below $25/1500 they could easily test $20/1250 mark. As for myself i been in one the sidelines' for past month not going to make the same mistake i did before.
  12. krispy

    krispy krispy

    And your reasoning is...?
  13. fatima

    fatima Junior Member

    IMO, and this is simply an opinion, physical PM investing should only be relegated to long term goals. In the short therm, < a couple of years, there is simply no way for the average investor to determine where prices are headed and timing the marking is an activity of frustration. In addition, silver is much more volatile than gold in the short term so you should plan accordingly on the reasons for holding it and what your exit strategy might be. Don't ever assume, as many times as you hear people repeat it, that silver follows gold or vice versa.
  14. treehugger

    treehugger Well-Known Member

    My recipe for a relatively stress-free approach to the movement of precious metal prices:

    1. Buy what you like and enjoy owning.

    2. Make precious metals a small part of a well-diversified, negatively-correlated portfolio.

    3. Re-allocate when necessary.

    4. View precious metal price movements as pretty unimportant.

    I know I will most likely not hit a home run with this approach, but I also know I will most likely not strike out either.
  15. Danr

    Danr Numismatist

    More of a "hope" than a reason
  16. elijahhenry10

    elijahhenry10 New Member

    Up $.50 for today
  17. InfleXion

    InfleXion Wealth Preserver

    I am still confident $50 will happen, only difference being it might need to wait unil 2013. I had thought 2012 to start the year off, but things are taking longer which isn't that surprising. Once $50 is broken there is no more upside resistance until the $75 fib level. More QE will be required at some point. If that were not the case then they wouldn't have done it in the first place. It is the lifeline, and it's just a matter of time. As in the past, big moves up are preceded by big moves down. That's how silver rolls, and we could see more downside here potentially. The price is set by paper contracts and can even go to zero, but the metal never can.
  18. Zlotych

    Zlotych Member

    I think $25 is the bottom nowadays because the cat is out of the bag in terms of precious metals as a smart long term play. I sure would like to see it plummet though since I'm in it for the long haul and I'd stock up on some super fly pieces.

    I really don't get making PM's too large of a part of your investments or moving in and out frequently. It's like day trading: risk vs. reward doesn't look good unless you're part of a very very very small percentage of investors.
  19. sodude

    sodude Well-Known Member

    Are people who have been stacking silver for over a decade really buying in the 27-30 range, or is it all the new stackers?

    I think it is goes down big time.
  20. Copper Head

    Copper Head Active Member

    Many people that have been buying for years are still buying and some are buying plenty. Many intend to pass it on and not cash in themselves, so they aren't focused primarily on the price , but rather on having what they feel is "enough".
  21. Kirkuleez

    Kirkuleez 80 proof Supporter

    I was buying plenty when the price was about $5 in the eightys. I slowed down when it hit $10 and stopped when it reached $20. At the time, I didn't see it going over $25 at the time. I was dead wrong.

    This time, the starting price is higher, but I am going to stop buying at $30 and hope it hits $40 in the next few years.
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