Gold and Silver Prices

UncleWiggly

Is anybody watching the price of gold and silver today??

Jerry

jeffnpcb

Just another adjustment in the exchange rates. Euros in the .8088 range now!

coinguy89

<< <i>Is anybody watching the price of gold and silver today??

Jerry >>



Whats going on with them?

Steve27

Nothing that exciting:

roadrunner

There's been pressure on gold to rise for weeks, and firms like Goldman Sachs are usually there (possibly at the request of the govt's plunge protection team) to dump gold following any $6-8 rise in the pog. But today they must have been taking the day off. The drop in the dollar certainly assisted the pog today. Note that gold often finished strong overseas at night (as real gold is traded here), and then opens strongly in New York, only to be beaten back on numerous occasions. The Comex is driven by paper contracts so a firm like Goldman Sachs can drive the price down with actually very little physical gold needed. Most of the dirty work is done via paper contracts which is more a bluff than anything else.

There is strong Asian support in the $370-390 range so the tactics that worked so well in the $320-380 range aren't so effective in the current trading range.

roadrunner

UncleWiggly

I keep seeing reports about China buying heavy for gold and also oil.

Jerry

Sphinx357

I check the silver spot every day.

fishcooker

What's to check? Gold is in a textbook uptrend and silver is finding a floor after being totally annihilated. No big deal.

roadrunner

Fishcooker,

Even though gold is in a classic up channel trend for the past 3 years, just as the US Dollar has been in a classic down channel for the same period, you cannot convince the Crudlow's and Krapper's of the world otherwise. Gold has just been "lucky" and the dollar "unlucky" for the past 3 years and today is ALWAYS the last hurrah for gold Gold was not supposed to come back again because everyone wrote it off when it last peaked in the $420's and crashed back to the $370's. Consider the current movement just a last gasp of a dying barbarous relic.....uhh huh. Frankly, I've always liked Barbarians, including Conan and Genghis Khan.

roadrunner

cladking

It looks as though silver is starting a REAL bull trend. It's up several cents in the last
hour despite a tepid recovery in the dollar. Commodity prices are increasing again and
the psychology is turning inflationary. This alone will push prices up significantly even
without the underlying cause of this change.

There will be virtually no resistence to increases until it gets to $8.50.

100proof1957

was not silver @ 8.63 within the last 60 days ?

GOLDSAINT

I keep seeing reports about China buying heavy for gold and also oil.

where did you see that?

UncleWiggly

Last month I was watching the evening news about the oil price rise. An economist stated the oil prices were be driven upward mainly by China's mega buying because of it's new expanding economy. And to a lesser extent India. As for my info on precious metals, I always check here.

AGE


Jerry

cladking

Silver closed up to $6.43 today!!!

fishcooker

Neat! $6.41 close! I missed out on my silver eagles back when it was $5.71/oz, but did pick some up at $8 each a couple weeks ago. Nothing notable, just my annual roll I like to purchase. If silver rises, then I'm an "investor" and if it falls then they are just my "collection."

roadrunner - I suspect by the name "Krapper" you refer to Jim Cramer. Why is anyone left listening to that Idiot??? Perhaps they are the young and dumb who never heard the man speak during the Bear! I will give him credit for losing so much money that he drove himself out of business.

(On a side note, I heard an add today touting Elaine Garzarelli's new seminar. Bragged plenty about her calling the 1987 crash, but didn't mention a peep about the annihilation her followers took in the recent Bear? She was openly ridiculed for week after week!)

With regards to Gold, when everyone is talking and posturing then its time to have a Sell plan. If the nightly news reports about Gold's big rise, then it's *definitely* time to sell. The board was dead quiet a while back when Gold hit $375, and I even posted a hint about Buying, but didn't get much response. Personally I traded out and back in since then. My little mining stock took a -20% plop, which I didn't care to experience. Now I'm back in with more shares and another 10% capital gain.

I know I'm wrong and evil for not Buying and Holding an S&P 500 index fund, because trading can't work and precious metals are bad investments.

+44% Year-to-Date.

Catch22

Hey, I'm a big fan of both Larry Kudlow and Jim Cramer. In fact, I would like to see Kudlow end up as Fed Chairman at some point. He has had his personal issues in the past, but is a solid supply sider. If all left wingers were like Cramer, I might actually engage in conversation with them.