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What goes up, Must come down

carscars Posts: 1,904
in Precious Metals
This maybe premature but I just clicked spot and saw red, Finally. As someone stated in another thread the only people who care are those who don't have much or are wanting back in. I have a chunk of cash I've dedicated to purchasing metal but I have been holding out in the hopes prices would drop. So, Where will it stop? I know most don't care about the day to day moves. I normally don't but I'm bored and have some cash to spend. I've been watching it closely lately trying to make the most out of my mediocre investment. We've seen these highs before only to drop rapidly. Silver dropped around 25% last time it jumped to $16 within 30 days or so. I'm banking on that to occur once again. I just hope the premiums don't jump up when price drops.

I think we'll see $13 silver by end of the month & gold in the low 9's. Anyone else care to venture an end of the month price?
Its all relative

Comments

  • FistFullOfDollarsFistFullOfDollars Posts: 360 ✭✭✭
    I am waiting at least 1 month or sub $14 before restarting my weekly purchases of physical silver.

    My guess for end of month will be $16.16


    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    not big of a drop, it may stay at this point for a little while. Who knows but if it does drop be ready to buy!
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  • goingbrokegoingbroke Posts: 1,410
    I am thinking within a month we may see gold down $200 and silver back to $8.00-$9.00 It sure will be nice for us coin colectors to see those prices again!. Then next year we will again touch $1000. gold and who knows silver might get to $20.00!.
    Many successful BST transactions ajia
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  • carscars Posts: 1,904


    << <i>I am thinking within a month we may see gold down $200 and silver back to $8.00-$9.00 It sure will be nice for us coin colectors to see those prices again!. Then next year we will again touch $1000. gold and who knows silver might get to $20.00!. >>



    I don't think anything that dramatic is going to happen anytime soon, I wouldn't mind it tho.
    Its all relative
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    uhhh I don't think we will ever see 200 dollar gold..............
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  • carscars Posts: 1,904
    He said Down $200
    Its all relative
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    LOL, oops didn't read close enough! My bad, at first I was like "What is goingbroke smoking" My bad image
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  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    I see gold peaking around the 23-25th of September at something well over $1000. That doesn't give it enough time to fall very far by October 1st especially since a pull back leg could be in progress by then. Once September is done then I'll worry about how far October could drop gold.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • goingbrokegoingbroke Posts: 1,410
    The markets go up, the markets go down. But if you don’t sell, it’s not a profit.
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • carscars Posts: 1,904
    Most people who own physical PM's are not flippers. They use it as a hedge against inflation or a place to store wealth. Its hard to flip physical metal for profit unless you have truckloads
    Its all relative
  • Norseman88Norseman88 Posts: 962


    << <i>I am thinking within a month we may see gold down $200 and silver back to $8.00-$9.00 It sure will be nice for us coin colectors to see those prices again!. Then next year we will again touch $1000. gold and who knows silver might get to $20.00!. >>



    I think in a month Gold will drop to $50 and Silver will drop to $2 an oz., then and only then will I pour a huge amount of money into PM's.image
  • goingbrokegoingbroke Posts: 1,410
    I still hope for a $200. down day on the gold price
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • SUMORADASUMORADA Posts: 4,797 ✭

    As I stated in another post, I have no idea why we are where we are with the metal prices, however I am going to wait until Friday's close to decide whether to dump or buy...image
    coins on ebay
  • carew4mecarew4me Posts: 3,473 ✭✭✭✭
    I think prices will hold at least through Sept in the $15-$17 - $960-$1025 range.

    Silver and Gold are both in for a little run.

    Loves me some shiny!
  • Norseman88Norseman88 Posts: 962


    << <i>As I stated in another post, I have no idea why we are where we are with the metal prices, however I am going to wait until Friday's close to decide whether to dump or buy...image >>



    I think the BRIC countries are catching on to the printing presses churning out fiat currency and the rumblings coming out of China are not exactly pro treasury bonds. Is it any wonder that these countries would want to invest in commodities rather than an electronic statement saying they own trillions of dollars in deflating currency???
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