Next step silver - over $20.00

So it's price determines it's ability to perform in your view?

 

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yes. now it seem the price of silver and gold getting better. tonight. silver hit a high of $17.25. gold hit a high of $1,011.90 per ounce.

 

that sounds kinda flawed... wouldn't it's price determine it's ability to HAVE performed?

 

new high for gold and silver. gold high at $1,017.70. silver high at $17.33.

 

If I did the math right, Wednesday's London A.M. Fix needs to pass $1021.50 for the Mint to move to the next price bracket. Do you think we'll make it?

 

to yakpoo: we need at least $1,027.30 per ounce to make it to the next level. i think we might. it will depend tomorrow morning. it seem gold gonna break the all time record high.

gold high is $1,019.20.
silver high is $17.35

 

Elaine, please help me out...I'm obviously making a mistake somewhere.

These are the figures I have for the past week for the London A.M. Fix. I got them from the Kitco site...

http://www.kitco.com/gold.londonfix.html

Thrusday, 10Sep09: $988.50
Friday, 11Sep09: $998.25
Monday, 14Sep09: $994.25
Tuesday, 15Sep09: $997.50

Total: $3978.50

$5000 - $3978.50 = $1021.50

Since we need to get to a total of $5000 for the five (5) previous days to average $1000 per day (the next Mint bracket)...and the first four (4) days gets us to $3978.50...doesn't that mean we need $1021.50 on the fifth day to get us to $5000?

Where am I making my mistake?

 

Still heading UP this morning! Gold$1,019.70 $1,020.70 14.40 Silver$17.30 $17.35 0.34 Platinum$1,329.00 $1,339.00 17.70 Palladium$294.80 $299.80 2.50 Updated:9/16/2009 4:47:17 AM CST

 

there will be nine prices to calculate for: (5) a.m and (4) p.m.
9/10 (thur) a.m. 988.50, p.m. 990.75
9/11 (fri) a.m. 998.25, p.m. 1,008.25
9/14 (mon) a.m. 994.25, p.m. 999.25
9/15 (tue) a.m. 997.50, p.m. 996.00
9/16 (wed) a.m. 1,017.00

average is around 998.86. the price of UHR will stay the same.
but by next time. if gold stay above 1,000.00. then it will be up one bracket.

but if the mint using five a.m. to calculate. then the average for five session will be 999.10. again less than 1,000.00. so the mint gold products will stay the same.

 

I dont know if you should wait to buy the UHR Elaine! MetalBidAsk Gold$1,020.70 $1,021.70 15.40 Silver$17.31 $17.36 0.35 Platinum$1,329.00 $1,339.00 17.70 Palladium$295.30 $300.30 3.00 Updated:9/16/2009 4:52:24 AM CST

 

PRECIOUS-Gold hits 18-month peak on weak dollar, eyes highs


16/09/2009 7:46:57 PM
Commodity update
Prices16 September,2009 16/09/2009 20:42 Sydney, Australia.

CommodityValueGold1016.90Silver17.27Platinum1332.50Palladium295.00


Chart and compare

​

* Dollar hits 2009 low vs euro; single currency breaks $1.47 * Indian gold buyers trickling through, traders say
* Silver, platinum hit multi-month highs as confidence rises
(Updates throughout, changes dateline from TOKYO)
By Jan Harvey
LONDON, Sept 16 (Reuters) - Gold hit 18-month highs on Wednesday as the dollar's slide to 2009 lows versus the euro sparked buying of the metal as an alternative asset, helping lift silver and platinum to multi-month peaks.
The precious metal now has its sights set on a new all-time high above $1,030 an ounce, traders said.
Spot gold rose to a high of $1,017.75 an ounce and was at $1,015.55 an ounce at 0924 GMT against $1,005.90 late in New York on Tuesday.
"(We have) broken through $1,015, so we ought to test the previous highs," said Afshin Nabavi, head of trading at MKS Finance in Geneva. "It is currencies that started the game, but it looks like it is not over yet."
U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange rose $11.40 to $1,017.70 an ounce.
The dollar tumbled to its weakest this year versus the euro, with the single currency breaking $1.47 for the first time since December. The dollar came under pressure as investors moved to notionally higher-risk currencies. [FRX/]
Better-than-expected U.S. retail sales data and a statement from Federal Reserve chairman Ben Bernanke that the U.S. recession was most likely over on Tuesday have boosted interest in assets seen as higher risk. [nLG699234]
World stocks hit 11-month highs on the news, while European shares also rose. [MKTS/GLOB] [.EU]
Currency traders will be closely watching U.S. data due later in the session for fresh clues as to the outlook for the economy, including the August consumer price index and industrial production numbers, and September housing data.
The CPI data at 1230 GMT will also be watched for signs of growing inflation, against which gold can be bought as a hedge.
Citigroup analyst David Thurtell said the current rally was "largely currency based, but the gold inflation bugs will be getting excited too".

PHYSICAL DEMAND PICKS UP
Physical demand for gold picked up in Asia, home to some of the world's largest bullion markets, despite high prices having discouraged consumers throughout the year.
"India is still buying despite the high prices. Maybe they are afraid that prices will go up again," said a dealer in Singapore. [ID:nSP372735]
Gold's rally helped lift other precious metals, with silver and platinum -- both of which are largely industrial in use -- also hitting multi-month highs as base metals rose on the more positive economic outlook. [MET/L]
Silver prices rose to a 12-month high of $17.31 an ounce, and were later at $17.28, against $16.97 late on Tuesday. Its ratio to gold -- which measures its value compared to the yellow metal -- fell to 58.8 from around 64.5 a month ago.
Platinum hit a peak of $1,338, its firmest since September last year, and was later at $1,329 against $1,323, while palladium was at $294.50 an ounce against $291.50.
ETF Securities said in a daily report its London platinum ETC holdings rose more than 10,500 ounces on Tuesday, or 3 percent. Its London palladium ETC hit a record high of 491,063 ounce on Monday, up 8.5 percent week-on-week.
Commerzbank technical analyst Karen Jones said in a note that platinum's gains last week set the metal up for a fresh rise.
"The close above $1,307 has completed a longer term bullish pattern with an upside measured target of $1,539," she said. "The pattern took five months to complete and the target is achievable by February 2010."

 

If elaine were a buyer I doubt we'd see the daily price increase cheerleading.

 

I think Krispy should sell some that will make the price rise!

 

Yes, indeed it is flawed, which is why I asked elaine as it leaves room for big errors by not citing or considering the myriad other factors involved apart from price averaging prediction. Of course she's not buying so the risk is moot.

 

Planning to, but not this week. Too soon to do so.

 

MetalBidAsk Gold$1,020.70 $1,021.70 15.70 Silver$17.35 $17.40 0.40 Platinum$1,335.80 $1,345.80 24.50 Palladium$298.00 $303.00 5.80 Updated:9/16/2009 8:05:09 AM CST
CPI rose!

 

Shazam!

 

year to date
silver high 17.42 up 61.4%
gold high 1,021.90 up 17.5%
platinum high 1,350.00 up 50.3%
palladium high 304.00 up 66.1%

why gold up only 17.5%?.

 

Investors in gold are likely overbought due primarily to fear early on over the state of the global economy. Silver seems up more because, well, it should be, but it's more accessible/affordable for people to buy into and for the same reasons. The other PMs probably got stock piled by industry for use after industrial demand resumes in the greater economy following the recovery. Just some thoughts.

 

what's the avg. historical silver to gold ratio?

I think that might be a reason why this is happening

silver needs to make up some running...slow poke