Just for Fun

Nobody can successfully time the market in the short run, but just for fun I'm going to say that as of now, the recent pullback in gold and silver prices seems to be over, and the next move seems likely to be UP!

 

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I don't think so, Cloud.. I think another leg down, within the month, then, after that I believe then the bull will run.
My opinion.

Lucy

 

according to ted ferguson once it breaks 36.50 then its on the way up to 39-40 by early june. my truck is done backing down this dip, im gonna be driving uphill for a while now.

 

There should have been a poll on this thread. Up or down, there'll be a different reason for each opinion. IMO, I think it's going UP.

 

That might have been a good idea, but I viewed it more as a personal opinion on today rather than a vote over the next couple of days.

 

Just for fun, I guess they'll gain a bit until the middle of July, and then fall below where they were a week ago. It always seems people quit buying in mid summer for whatever reason.
Guy

 

I'll go out on a limb and predict Gold will be flat as well as oil, Silver will slide down slightly, copper will yo-yo with $4.05 - $4.10 the median, Ags (Grains and cotton) to many unknowns with the US crop at this moment to guess, Industrial metals (nickel, aluminum flat trending upwards.

 

Oil is in its way back up:

http://online.wsj.com/article/BT-CO-20110524-708844.html

I think PMs will follow. Just for fun of course.

TC

 

I think we'll see moderate but steady gains for the next month or so, then a healthy (but not super steep) drop off to new recent lows when QE ends, followed by an aggressive bull run to new highs when QE likely resumes after the summer doldrums.. more so due to people fearing inflation and seeking safe haven than actual inflation pushing up prices. Both of those things together should put plenty of wind in the sails for commodities assuming we don't see rampant margin hikes or interest rate hikes which the Fed has said they won't do until 2012 anyway. Even if they do, if interest rates are below inflation they are still negative.

 

wooooooooo! big drop

 

and a quick recovery to 37.40 right now from 36.20

 

I read somewhere this morning that some positions are being liquidated in advance of the long holiday weekend.

 

Makes sense

 

Folks needin' some "walkin' around" money.......

 

It will be interesting to see if there is any large price swing with US traders out of the picture, and might be an indication of whether the US traders are normally net long or short.

 

+1 I agree it will be interesting to find out

 

just want to add I think U.S. traders are short on silver... anyone ever notice how silver shoots up in after hours trading which would be the rest of the world and then when the U.S. market opens it goes back down most of the time and stays down to where it ended the day before or drops even more then that...

I made a thread before asking about if the big ppl in silver are in bed with the government to keep silver and pm's down to help keep the dollar afloat...I just wonder if that's really happening...I mean one would think that the reputation of the dollar would take a big hit if it took $50+ or more so for an ounce of silver that only was $4 10 years ago...and what else does the dollar have now then it's reputation? many people perceive that not alot is keeping it in there as a reserve currency...if people think the ship is sinking they tend to run to the lifeboats and shove off...even if the ship is still chugging along...

 

I've noticed that silver and gold tend to go up when Asian trading opens, and tend to drop when London and New York are open. It seems likely that it is due more to activity in the futures market where the large traders have been making money for years by running the prices up and down with no need to buy or sell physical metals with little regulatory oversight. That might be changing now. Time will tell.

 

You are absolutely right cloud!! With gold pushing full steam ahead to bigger and better prices and silver toying with the $39 range, it's just a matter of days before the prices on both PM's turn heads once again and blow up the prices everywhere!!. Go PM's!!

 

I posted earlier in this thread about too many unknowns in Ags to make a prediction. Below are the futures for July (which is the current and their next two trailing contracts).

Soybeans 13.79 - 13.72 - 13.68

Corn 7.58 - 7.28 - 6.84
Cotton 1.52 - 1.41 - 1.29

Wheat 8.19 - 8.68 - 9.09
Rice 15.18 - 16.13 - 16.43