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Congratulations to silver (@22.62) - outperforming gold
renman95
Posts: 7,037 ✭✭✭✭✭
This no dis to Proof's thread but a compliment to it.
Silver is climbing the Great Wall that the Hunt Brothers built three decades ago. Silver may have just reached a new base station. I think it's safe to say that some here would confess that $50 will be broken in the not too distant future.
In the Fall of 2008 I began to focus on buying more silver than gold due to comments (from brilliant comrades) here in PM-land. The pure percentage play was too tempting. Back then gold was $900-ish and as of today's record price ($1,315), gold has increased 46% in the two years. In that same time frame silver has rocketed 144%! At some point silver will become the poor man's gold. I don't know at what price gold needs to be for J6P to switch to silver. The Gold Train may have already left Sheeple Station.
Some time ago I mentioned here that I was trying to convince one of my crew members to buy some PM's. To date he has bought zilch, nada, "nichts." It's a good thing I'm not in sales.
When he does finally come around and buy I will let my PM comrades know so we can score some of those evil profits.
Why is it that Pilots and Doctors are always late to the investment party?
r95
PS: Not all pilots are late to the game. I have one friend that went all in over a year ago. He bought 100 ounces of gold and 1,000 ounces of silver.......
Silver is climbing the Great Wall that the Hunt Brothers built three decades ago. Silver may have just reached a new base station. I think it's safe to say that some here would confess that $50 will be broken in the not too distant future.
In the Fall of 2008 I began to focus on buying more silver than gold due to comments (from brilliant comrades) here in PM-land. The pure percentage play was too tempting. Back then gold was $900-ish and as of today's record price ($1,315), gold has increased 46% in the two years. In that same time frame silver has rocketed 144%! At some point silver will become the poor man's gold. I don't know at what price gold needs to be for J6P to switch to silver. The Gold Train may have already left Sheeple Station.
Some time ago I mentioned here that I was trying to convince one of my crew members to buy some PM's. To date he has bought zilch, nada, "nichts." It's a good thing I'm not in sales.
When he does finally come around and buy I will let my PM comrades know so we can score some of those evil profits. Why is it that Pilots and Doctors are always late to the investment party?
r95
PS: Not all pilots are late to the game. I have one friend that went all in over a year ago. He bought 100 ounces of gold and 1,000 ounces of silver.......
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Comments
1309.60 / 21.85 = 59.94
<< <i> I think it's safe to say that some here would confess that $50 will be broken in the not too distant future.
....... >>
I think most here would also say that long term buying gold is safer then buying silver. Perhaps more money can
be made in silver in the short term, but I believe the smart money is still going into gold.
<< <i>GSR has a 5-handle on it for the first time in quite awhile.
1309.60 / 21.85 = 59.94 >>
If silver is perceived as a Monetary metal and not just as an Industrial metal, the ratio will return to 15 to 1 or better.
1309.60 / 15 = $87 dollar silver.
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<< <i>
<< <i>GSR has a 5-handle on it for the first time in quite awhile.
1309.60 / 21.85 = 59.94 >>
If silver is perceived as a Monetary metal and not just as an Industrial metal, the ratio will return to 15 to 1 or better.
1309.60 / 15 = $87 dollar silver. >>
That would be nice.
Successful Trades: Swampboy,
///
Jan 21, 1980 was the high for silver. It closed at $48. That translates to $130 today according to one website.
<< <i>Right ttown.
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Jan 21, 1980 was the high for silver. It closed at $48. That translates to $130 today according to one website. >>
That would be even nicer.
Successful Trades: Swampboy,
(Actually, that's two questions but comrade is good guy and will not beat up on jmski for being obtuse.)
I think most here would also say that long term buying gold is safer then buying silver. Perhaps more money can be made in silver in the short term, but I believe the smart money is still going into gold.
No one can deny that silver took a nice dive from $21.00 to $9.00 in '08, but jmski sees virtually **no risk** in a longterm hold of silver. Jmski loves silver very very much, in a sort of non-emotional way of course!
Let's talk about portfolio diversification. Granted, diversification does reduce your potential gains, in exactly the same way that it reduces your potential losses. Diversification of Risk is DEFINED as a reduction in volatility - and *not* as a sure fire way to make money. A nice mix of silver vs. gold in a rising market like this takes all of the worry out of ratios, trading, timing and transaction costs. Platinum as a third component helps as well in smoothing out the wrinkles. They all work in tandem, and that's important.
Removing anxiety from the equation is important in building a larger position in pms.
I knew it would happen.
It will be interesting to see if we are in 1) a correction and 2) see silver outperform on the way down.
I'd like to see it go back under $20 in time for the Mint's "hockey puck"pricing.
<< <i>As PM's take a much deserved pause I would like to show how well silver has done during gold's big runup starting on July 28. Gold was $1160 then and has gained 16% to yesterday's close. Silver has gained 28% in the same period!
It will be interesting to see if we are in 1) a correction and 2) see silver outperform on the way down.
I'd like to see it go back under $20 in time for the Mint's "hockey puck"pricing.
Palladium is close behind in Silver ... $470 7/28 .............$583 today's close ...24% gain
I knew it would happen.
Liberty: Parent of Science & Industry