OT-Silver closes at $11.12

danglen

Gold at $573.30, Platinum at $1082.00 and Palladium at $338.00. Who would have thunk it?

HenriIII

Amazing!

Numismatics

WOW

That is all I can say.

1jester

It's all going to go way higher too!

AuldFartte

Anyone remember when gold was over $800, silver over $50

I do

HenriIII

I don't remember when it was that high. But I don't think it will drop and stay down until Our Beloved Pres... is out of office.

coinkat

I thought we may have had a double top in Gold based on the chart and I am beginning to think I am wrong.

As for Silver, the chart still seems to look okay.

docday2003

I hope it keeps going to $40, then I'll sell my stash

spoon

Now for the stupid question... can we have any speculation as to WHY it went this high?


(Serious question. Though I collect plenty of coins I'm really dumb on bullion! but would like to learn, if at all possible)

1jester

Spoon, there's a brilliant and informative thread on the Liteside that, if you were to read it, would give you great insight into the matter. It's called "Gold, silver, bullion and economic predictions, etc." or something like that, and it's super super long.

Rickc300

<< <i>Anyone remember when gold was over $800, silver over $50 >>

I DO!!! I also remember all the coins that showed up in the coin shops I visited as all the WWII widows showed up carrying all the oddball foreign coins that their spouses had brought back from the war. It was good times as I picked many a fine coin out of the "melt" boxes, but I also let many more go as I could not afford to buy it all. I wonder how many coins were melted as nobody bothered to look beyond the weight on the scales... Visit your local shops, buy all you can and offer to buy what you can't for your friends here. I'll buy all the Geman coins for melt that I can get my hands on... and much of the Empire stuff for much more than that.
Who has a good relationship with their dealer? I want German Empire, Weimar and 3rd Reich silver coins... I will pay fair maret price

Stork

Gold mega thread for your reading pleasure . To sum up, for various reasons including perhaps poor monetary policy, the Fed (The Alan and Helicopter Ben), FDR, Republicans/ Democrats/ Socialists etc.--take your pick, cartel price manipulations and fiscal irresponsibility on an individual, national and global level . Oh, and peak oil.


Have fun!


Cathy


of course, I am not endorsing one theory over another

edited to add: I forgot about China and the ETFs...and some more to be sure!

ccrdragon

and you cannot overlook the effect that the ETF has already had on silver (even before the ETF is active!)

silver went up another .30 in overnight trading - 11.37 at 7:45 this morning!!

danglen

It is my understanding that the reason gold and silver are heading so much higher has to do with the fact the the Chinese citizens can now own the metals, which were hetofore banned for private ownership in China.

theboz11

<< <i>Gold at $573.30, Platinum at $1082.00 and Palladium at $338.00. Who would have thunk it? >>



I woulda thunk it, I have been touting Gold on this forum for years, well at least since it cracked $350. I was poh-poohed for my explanation on India and China purchases. Sorry some of you missed the boat. My last thread on the topic was the beginning of this year forcasting $600 by year end, I may have estimated the period wrong and we may hit it by June. Bill Gates of Microsoft and Warren Buffet have HUGE physical holdings in silver. If it's a good hedge for them ,it can't be to bad for us peons.



<< <i>But I don't think it will drop and stay down until Our Beloved Pres... is out of office.

<< <i>

I think your wrong and the inference is out of place here!. Take that to the OPEN forum!

Gold is going up against all currencies world wide and has nothing to do with United States politics. It has to do with reduced supply and increaced demand worldwide.

theboz11

double post sorry!

But I will add, that in order for gold to hit its all time high, inflation adjusted, it needs to hit $2250, so we are no where close to making up what has been lost over the last 20+ years.