Gold to $900+, Silver to $16 on Tuesday
FishyOne
Posts: 376
Well here we go again! Get ready for a PM ride on Tuesday as oil prices will likely jump $20+/barrel as a result of Hurricane Gustav. A 20% increase in pump prices is possible next week.
Any predictions on PM by mid-week? Here's mine:
GOLD: $902
SILVER: $15.91
0
Comments
Gold 785.00
Silver 13.00
somewhere between $785 and $902 for Tuesday sounds about right to me
<< <i>Gold/silver usually go the opposite of what logic should dictate. Both will probably go down this week. >>
Overall, I think metals will be flat. Kitco now showing neutral prices in Asia, after a modest bump up in early trade.
Silver ...$ 13.42
Plat.......$1502.27
Oil.... $121.00 ... but back down to $114 by 9/5 ...
My cloudy crystal ball needed a beer or two or three or more ... it's woikin just fine now....
Overall the energy markets are giving a big yawn to Gustav.
Knowledge is the enemy of fear
Although I'm still mystified why so many PM enthusiasts see every disaster, natural or man made, as being bullish for PMs....facinating
<< <i>PM's & Oil are "heading south" in the overseas markets this AM ... >>
Those betting on Cat 5 hurricanes are like those buying lottery tickets. Cat 5's are rare and a Cat 5 going directly into the oil rigs rarer still. A lot of folks made those bets when Gustav was a Cat 1. Some folks like betting the long shots. Some day they will be right, but so far, today is not the day.
Well, just Love coins, period.
<< <i>I think these hurricanes and the price of oil being affected are pure BS - I remember after Katrina they were hard pressed to show any actual damage that was widespread. Also, there did not seem to be much in the way of actual refining or production that was affected = pure hype - maybe folks are getting tired of this crap going on.... >>
FYI ...
HOUSTON (Reuters) - Energy companies waited anxiously on Monday as Hurricane Gustav lurched across the nation's largest concentration of oil platforms and refineries in the biggest threat to fuel supplies since 2005.
Nearly all of the oil and gas production in the Gulf of Mexico and more than a quarter of U.S. refining capacity was shut or slowed down as a precaution by the time Gustav made landfall near New Orleans on Monday morning.
But energy experts were hopeful the storm would cause less damage to infrastructure than Hurricanes Katrina and Rita, which three years ago destroyed more than 100 offshore oil platforms and closed several large refineries for months.
More bs or hype? I for one don't think so.
<< <i>
<< <i>I think these hurricanes and the price of oil being affected are pure BS - I remember after Katrina they were hard pressed to show any actual damage that was widespread. Also, there did not seem to be much in the way of actual refining or production that was affected = pure hype - maybe folks are getting tired of this crap going on.... >>
FYI ...
HOUSTON (Reuters) - Energy companies waited anxiously on Monday as Hurricane Gustav lurched across the nation's largest concentration of oil platforms and refineries in the biggest threat to fuel supplies since 2005.
Nearly all of the oil and gas production in the Gulf of Mexico and more than a quarter of U.S. refining capacity was shut or slowed down as a precaution by the time Gustav made landfall near New Orleans on Monday morning.
But energy experts were hopeful the storm would cause less damage to infrastructure than Hurricanes Katrina and Rita, which three years ago destroyed more than 100 offshore oil platforms and closed several large refineries for months.
More bs or hype? I for one don't think so. >>
the media is spinning a worst case scenario even as OPEC says $100 oil is okay.
they shut these platforms down last week, there is a hella lot more preparedness for this event.
putting their plans made after Katrina into motion, will only lessen the damage.
<< <i>Well here we go again! Get ready for a PM ride on Tuesday as oil prices will likely jump $20+/barrel as a result of Hurricane Gustav. A 20% increase in pump prices is possible next week.
Any predictions on PM by mid-week? Here's mine:
GOLD: $902
SILVER: $15.91
I certainly hope you didn't bet on it!! PM and Oil are down.....
Gold: $817.20 -12.20
Silver 13.42 - .17
Plat 1426.00 -37.00
Oil 111.24 - 4.22
<< <i>
Although I'm still mystified why so many PM enthusiasts see every disaster, natural or man made, as being bullish for PMs....facinating >>
Thank God it didn't happen in this threa, but I have noticed it is common for for PM bulls to cheer on disasters and war and economic collapse. My question is, if the world begins to use alot less oil in a couple of decades what will gold have to hitch onto to ride up or down?
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<< <i>but I have noticed it is common for for PM bulls to cheer on disasters and war and economic collapse. >>
I've noticed this too and I find it sickening. Although I hold some gold and silver as insurance against these things (and because it's nice to look at), I'd rather cheer on innovation and well-executed business plans of solid companies. That's what this country was built on; not bars of metal and gloom. Flame on.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>Well here we go again! Get ready for a PM ride on Tuesday as oil prices will likely jump $20+/barrel as a result of Hurricane Gustav. A 20% increase in pump prices is possible next week.
Any predictions on PM by mid-week? Here's mine:
GOLD: $902
SILVER: $15.91
mm hm
Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
I knew it would happen.
The name is LEE!
Okay, Okay - We dodged a bullet this time. I'm still on board with DoubleEagle59 in the long haul.
It may take a few months before we see $1000 gold and $20 silver again, but by late winter it will happen.
Also I'm still a believer that $1500 gold and $30 silver are NOT in the distant future. I see these prices in 2010 at the latest.
NostraDogbert has spoken.
<< <i>Okay, Okay - We dodged a bullet this time. I'm still on board with DoubleEagle59 in the long haul.
It may take a few months before we see $1000 gold and $20 silver again, but by late winter it will happen.
Also I'm still a believer that $1500 gold and $30 silver are NOT in the distant future. I see these prices in 2010 at the latest.
NostraDogbert has spoken.
Looks like we may see Gold @ $750 & silver at @ $12 before your optimistic predictions take hold. ... maybe years ...., You must have read the wrong quatrain. Boy, I hope it happens before 12/21/2012.
(you are still safe)
which Tuesday?
(you are still safe)
/////////////////////////////////////////////////////////
The Tuesday after Election Day! The Feds can't keep the dollar propped up forever!
P.S. The shortage of physical silver right now makes it $14 at least.
<< <i>which Tuesday?
(you are still safe)
/////////////////////////////////////////////////////////
The Tuesday after Election Day! The Feds can't keep the dollar propped up forever!
P.S. The shortage of physical silver right now makes it $14 at least. >>
psst, there is no shortage of silver.
the only shortage is in "investor" form in small sizes.
feel free to buy a 1000 oz bar from a refiner. make the call!
Jim