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Does this week's past performance of gold & silver . . .

cupronikcupronik Posts: 773 ✭✭✭
in Precious Metals
alter your opinion of continued rising prices?

Comments

  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Not here. I'm buying at the dollar point, drops are just nice. Check the January charts for the past 5 years, buy the downs and hold, it'll bounce...
  • edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭
    1. In this economic environment ?

    2. With China's national perspective on the value of gold and silver ?

    3. With the IMF selling 1/8th of their stash beginning at 1,100/oz gold and now we're near 1,400
    with all that gold hitting the market ?


  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    one step back, two steps forwad......one step back, two steps forward.....one step back, two steps forwad......one step back, two steps forward.....

    Indicates a healthy bull market. Keep your focus on the long term outlook, and take advantage of the dips. If the dips are too emotional, then get out of the investment on a high.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
    Did something happen that I don't know about? Why would I trust the PR arm of GE and the current president to tell me that everything is now OK? My advice is to hold tightly onto your wallet.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If gold didn't sell off at this time and continued on to $1500-$1600 the ensuing correction would have been a killer, possibly lasting a year or more, maybe being the end of the gold bull. Getting a correction now helps ensure weak hands get shook out and a fresh start back towards that $1650 range. As much as we hate to see corrections, they are needed to push the bull higher. Not that it will happen, but anyone playing in gold and silver should be ready to accept a pullback to $1260/$22. I personally don't think we'll get there but don't discount the possibility.

    3. With the IMF selling 1/8th of their stash beginning at 1,100/oz gold and now we're near 1,400
    with all that gold hitting the market ?

    What gold are they selling now? The 403 tons they just finished "selling" had less sale's restrictions attached. However their remaining gold stocks which essentially belong to the world since they loaned it to them....will take permission from numerous member nations of the IMF.

    It's questionable that the IMF really has any remaining unemcumbered gold to sell. The terms that the IMF was offering last year were not good enough for China to jump at 200 tons. They wanted the gold in their hands, not held in some IMF approved bank in France, India, or the USA. Instead, India "bought" it. How convenient since they are one of the few depository nations approved by the IMF. But there's doubt as to whether that was just a final paper accounting for gold already sold into the market years earlier, if not to India. If IMF is going on a new round of gold sales it might in fact be gold already sold to someone else. Bringing the paperwork up to date doesn't mean there is any fresh gold being supplied to the market.

    IMF gold sales completion - update

    Heller makes the important point that India's 200 ton purchase is probably not directly under their control. That's a problem.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • DoubleEagle59DoubleEagle59 Posts: 8,308 ✭✭✭✭✭
    In all seriousness, if a small drop in the price of gold from $1421 to $1370, scares anyone about the future price of Gold, then I would kindly suggest investing in PM's is not for you (or perhaps ANY kind of investing).
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Only thing I'm worried about is buying more gold and maybe a little silver~offersimage
    Avid collector of GSA's.
  • jmski52jmski52 Posts: 22,824 ✭✭✭✭✭
    Would I buy bonds instead? No.

    Would I buy stocks right now? No.

    Would I keep a pile of cash? Maybe enough to keep me from becoming neurotic, yes - maybe so, but it wouldn't comprise my main stash.

    Would I buy real estate? Nope.

    Would I buy wheat futures or corn futures? Maybe, but I'm not up on futures trading at the moment.

    Would I buy antiques or collectibles right now? Only if I couldn't live without it.image

    Gee, I guess that leaves precious metals.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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