Next Level: GOLD $1,350.00

Currently:

GOLD: $1227.20 -- High so far today $1229.10
SILVER: $18.29 -- High so far today $18.33
Platinum: $1506
Palladium: $483

 

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gold high - $1,236.70/oz.
silver high - $18.51/oz.

 

Currently:

GOLD: $1234.30 -- High so far today $1236.70
SILVER: $18.47 -- High so far today $18.51
Platinum: $1516
Palladium: $487

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EVERYBODY was at the exact same state of knowledge about investing at one time or another, so don't feel bad about it. And don't overestimate the "knack" that others appear to have, or underestimate your own abilities. NOBODY can predict the future, and it isn't necessary to try. The whole process is about holding suitable investments for your situation that have been purchased at suitable prices. If nothing looks obviously good, just do nothing. Cash in the bank is not a bad holding. Many people do fine without ever doing anything else.

 

Warren Buffett is famous for amassing huge stockpiles of cash. He does so when there just isn't anything attractively priced. He frequently gets flack from people telling him he should "put the money to work". Sometimes just sitting liquid is a viable alternative. He had tens of billions in cash when the latest financial meltdown hit, and he made many billions, maybe tens of billions, by being there with cash ready to invest. He famously said of the time, "when it is raining money, you bring buckets not thimbles".

My background is finance, but I have never liked the adage that you always had to put your money to work. Sometimes sitting on the sidelines waiting for your opportunity is a fine strategy. I am doing that with PM markets right now, waiting to see if there is a time to add to holdings or a time to liquidate my remaining holdings. To me, and just to me, its a time to sell gold and hold on silver. Your mileage may vary.

 

I completely agree with the first statement. I disagree with the second, but only because of the belief that there is a significant probability that gold and silver are poised for a once in a generation price increase. No guarantees.

 

Thats why there are markets and people buy and sell everyday. I thought the move from $300 to $1200 was the once a generation increase.

 

The reason I think gold will move higher is that the move to $1200 occurred with little or no hype and almost no public participation. I'll bet there are almost no institutional or pension fund investors that even hold 1% of their portfolio in gold or silver. More analysts have started recommending gold lately, but there are still no signs of a mania that would mark the end of the bull market. Time will tell.

 

If I believe only half of what I read just in todays news (Drudge Report..) EVERYTHING looks like a bad holding! Gee Whiz! Not much seems to hold value these days, from properties and homes to cash! Hindenburg Omen, (?!?) Home sales, unemployment figures, well, we all know the list. Gold and silver are both well and good, but until they are turned into a useable asset, they just look pretty. Cloudsweeper, that was a very nice and kind statement you wrote; I like that you pointed out that it's okay to do nothing (sometimes..) I believe I will pull my feet away from the fire for a while, and not worry so much about it all We live in interesting times! (I wonder who it was that said that?) Regards, Lucy

 

"May_you_live_in_interesting_times" Wikipedia.org

 

Perhaps a good time because of Capital Gains..? (More precisely, since Capital Gains Tax is going up next year..?}

 

..Chinese Curse??? Gosh! I take it back!! ".. May the government be aware of you.."!! Gosh, NO! NO! Thanks a BUNCH!

 

China takes credit for everything dontcha' know! The curse might come back to bite em in the behind!

 

Well, THEY sure live in interesting times! (As I read anyway..) Hope you're right about them being bit in the behind (Oops, I mean, better them than ME!)

 

LOL! I think we'll all be bit in the behind if there's any butt biting to be done. I hope not though.

 

I too hope not, but fear so. Looks almost inevitable, if you believe anything that's going on out there. Seems that for almost all of five years it's been nothing but butt biting (what an expression!) Honest people 'all of a sudden' are not quite so honest.. nice people are not quite so nice.. a rude awakening, for me at least. I know where the expression "thrown to the wolves" gets its meaning, and that's not sour grapes! I honestly believe we're not half way there yet, we've still further to 'fall'. Sorry; that's gloomy. On the bright and shiny side, gold and silver ARE going up They will. They will. (At what cost, though..looking at the big picture..)

 

Butt biting? I thought that's only done in SF!!

 

Wake up Elaine...

Currently: In UK/EU markets for Wednesday 8/25/10

GOLD: $1,237.30
SILVER: $18.65
Platinum: $1528
Palladium: $495

US market opens in an hours fifteen minutes...

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Currently: At the US market open for Wednesday 8/25/10

GOLD: $1,234.50
SILVER: $18.61
Platinum: $1525
Palladium: $493

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Currently:

GOLD: $1,236.10 High so far $1236.90
SILVER: $18.73 High so far $18.79
Platinum: $1521
Palladium: $493

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