always expect the backswing... I was surprised it stopped at 15 and staggered. It's still high, though.
From CNN Money: 1. Currency traders take profits, long-term Treasuries rally on strong foreign demand...."[It was] all position-squaring, nothing fundamental. Everyone was worried about a correction and here it is," Jason Daw, senior G10 foreign exchange strategist with Merrill Lynch in New York, told Rueters...while interest rates are rising in the United States, they are likely to remain flat in other countries... Rising interest rates tend to attract foreign investment, which pushes up the value of the local currency as local currency is often needed to make those investments. 2. IBM plans to exit PC business... Newspaper report says Big Blue could sell laptop and desktop lines for as much as $2 billion... Lenovo Group Ltd., China's top PC manufacturer, and at least one other company are said to be in talks with IBM, the Times reported. re: 1: "...nothing fundamental..." said Jason Daw. In other words, the US Government has not balanced its budget. re: 2: Someone needs two billion US dollars.
Last week it was reported on the Nightly Business Report that gold will hit $550 by the end of the first quarter in 2005.
Earlier today, RePeat (AKA Eric) from Cointalk.com forum reported that gold will do whatever it wants to do and it doesn't care what other people "think" it will do. He also noted that anyone listening to so-call-experts for investment advice, should proceed with extreme caution. They are making educated GUESSES and NOTHING more.
During my first semester of college journalism I was taught that statements about past events were "reports" and statements about future events were "predictions"; but I guess last century concepts like that are outdated now.
"During my first semester of college journalism I was taught that statements about past events were "reports" and statements about future events were "predictions"; but I guess last century concepts like that are outdated now. ", Roy. Well Roy, I wonder if they teach creative writing today in college journalism Anyway, I think you would agree with me that some predications are predicitions based on data that is analyzed and then projected and some predications are at best pipe dreams while at worse scams. "Let the buyer beware", Adam Smith
The drop is nothing at all to worry about, the fundementals have not changed at all.There was just some in my opinion foolish profit taking by the longs. Silver is the one you should be buying and take this drop as your last chance to get in at a cheap price, before long. the reason :::: WE ARE RUNNING OUT OF SILVER FAST
The claims of the U.S. running out of silver circulate each and every year. With the short exeption of the Hunt Brothers episode, silver trades at just a few dollars over the price it was bringing 125 years ago. Now how many investors hung onto silver from the late 1800's thinking that the U.S. was running out?
ok i guess i will need to elaborate on my statement first of all the us mint had 6 billion ounces of silver at the end of ww2 this was by far the biggest hoard of silver in the world.This silver is now completely gone since 2002. All the old silver that was around hoarded in peoples house was mostly melted in the last silver bubble, people then had silver in near every house there was silver.This was and has been already melted.How much of the average population has silver at all now?.This silver was melted and took back into the system long ago the world cant do that again to help suppleis. Unlike gold silver is mined as a by product of other metal mining its uneconomical to mine silver alone at current prices when a shortage appears the price will have to rise to make mining of it viable. All that world coinage has 99% already been melted up and put into the bars the only silver coinage left in the world is a tiny amount, this melting has helped to suppress the prices for the last few generations. there is more that 100 times as much silver as exists traded daily on the comex, if only 1% of these demanded physical delivery we would have a crisis. All the silver known to exist in the world today can be bought for 5 billion usd. unlike gold silver is used up permanently, the biggest use of silver is in minute amounts for silver solder it is uneconomical to recover these tiny amounts hence it is throwing into landfill.This is something that will never happen to gold very little gold is used . there is a 100 million ounce yearly deficit in silver, which means every year were using up 100 million more ounces than were mining.hence the depletion of the usa mints stock.you can find these figures on the world gold councils web site. the world is very close to running a just in time market in silver there are very little stocks left. finaly the reason that the silver price is so low when looking at all the factors is because of the comex paper trading which is setting the price of the physical.the minute that a supply shortage occurs physical will take the lead.This is the point that silver will skyrocket it wont happen over months or years it will happen in a day.
another point to add the japanese are the biggest savers in the world.each family has saved around 140,000 usd if only 5000 of these families swapped there savings into silver instead of the yen they could buy up all the siver in the world
What are the sources of these interesting statistics? I very much doubt that the Beautiful Bride is the only person left in the world with silver tea sets, plates, candlesticks, etc.
