Have we peaked out for awhile?

I wonder if Gold and Silver have peaked out for a while and I wonder what will have to change in the financial world so that Gold and Silver would either climb into the $1,000+ range and silver into the $18+ range again? And how do you think the upcoming elections will have an affect / effect on the raising or dropping of Gold and Silver values?

 

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I think silver will continue to go up as France will be putting it in their coins. Not so sure on gold. I also believe that the market wil be kind of stagnant for awhile due to elections and then dramtic rise or fall based on who wins. That is unless some crazy news happens like more intrest rates cut or more $ made. Then panic and metals go up even more.

 

Work has been slow the past couple of days so I've had some reading time. I don't usually follow this type of stuff and I'm no expert, but..

The general feeling I get after having read a bunch of stuff from various sources is that neither will be going down or up dramatically in the next year. I pay more attention to silver and they're saying demand may go up, but mining companies are also successfully ramping up their production, etc. etc. etc.

 

they're probably at a standstill for a while

 

Probably a good time to buy then ?
rzage

 

Probably. Especially silver.

 

I think you're right. Out of everything available, I think silver has a long way to go yet.

 

Well Ouch!! :headbang:

 

I bought silver a year ago at 14.40!

lousy fluctuation.

 

I am into most of mine at $6.50, but there is a significant portion at $4.30 from when it bottomed out in 1992 or so.

 

I was planning on getting some silver eagle thursday, I just hope theres still some left when i head to the shop

 

I got one 2 weaks ago for 18.50 ;_;

lol

 

I do not buy silver for investment purposes.
However, I do have a substantial amount of sterling silver in the form of findings and chains, etc., for jewelry making. I have kept every little tiny piece of clippings from putting jewelry together, and have over two ounces of sterling.
As far as gold is concerned, I would be starting in a era of high prices.
I do have a fair amount of 18K jewelry I bought many years ago.

So, perhaps I have invested in both without realizing it at the time.
I don't care if the prices go up and down like a roller-coaster.

jeankay

 

Man, I didn't know it dropped!

Phoenix

 

Yeah, I've been watching everything plumit this week. Platinum down to 1350 from 2200. Silver closed at 12.70 today.

I don't really care. I think it's just a lull. Oil dropping, dollar rising for whatever reasons..... you're gonna have that.

I figure this winter when oil climbs again and everybody starts screaming about heating costs and whatever else, it'll head back up there again. I dont think it will take much or long, as volatile as everything has been lately.

 

I follow PM's regularly....

Here is what I get. Oil is down and the dollar is up. This is a negative climate for silver/ gold.

However, much of the price in silver in gold has recently been caused by the selling of paper contracts.

The dollar is being propped up by foreign governments, not because oil went down, or the economy is getting any better. Inflation is still a major problem. The value of your savings are still being swindled away.

Also in the last few days there have been huge amounts of physical gold and silver purchased. So while selling of contracts is making the price tank... physical buying is not causing the price to rise????

My thoughts are that fear has to drive the PM's up to the point where contracts can no longer sustain a lower price in order for manipulation not to be the deciding factor..... Apparently people are just not that gloomy abut the economy yet.

The reasons to be bullish on PM's has not gone away, but speculators are in control, and that could mean bad things for PM investors. Myself.... I plan on buying silver if it goes lower, but somehow I think it is going to shoot back up before I get a chance to buy. If it hovers in the 12-14 range for a while I will be surprised. I definitely think the speculators are making their money right now by selling short, and slowly buying more positions.

 

Couple of random thoughts:
Jewlery makers should start buying again soon to make the jewlery for Christmas and other upcoming holidays.
Is oil down, or is it that the Chineese are using less of it during the olympics so everyone doesn't see how smoggy it is. Less demand?
I read somewhere that catalatic converters can use silver instead of platinum and if the prices of platinum get too high, might just have to switch over to silver and drive it even higher.
Both silver and gold are used in electronics. As more countries become wealthier, there will be alot more demand for electronics.
Is the dollar really rising or does it just look like it is because the new euro has stumbled.

 

I was looking at the technicals today for gold and silver today, they look TERRIBLE. At the high prices we have seen recently gold were very oversold, this is a recipe for a drop in price. If you look at the Bollinger bands for gold and silver the numbers are in a classic free-fall configuration. In fact, just within the last week all three bands have started to point sharply negitive.

I personally am not planning on buying any builion for the immediate future.

~Droid

 

Guess that depends on what your definition of terrible is. I suppose if you're trying to offload a bunch of metals it's terrible. But, like myself, as a buyer, it's good times again. People are panicky and can't sell their silver and gold fast enough. And, I'm right there to buy, and at bargain basement prices. It makes me wonder why so many people insist on buying high and selling low. No wonder people are losing their homes if this is how they handle their investments and money.
Guy~

 

I would urge caution, the technicals indicate a potentially large further drop in the near term.

~Droid