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Was Friday a starting point for PMs?

curlycurly Posts: 2,880 ✭
in Precious Metals
Unrest in Egypt foretells dangerous times for the Middle East. If this thing doesn't get settled peacefully, commodities of all types will skyrocket.

Please keep the politics out of this thread, I'm just warning you that anything that uses oil is going to go up and PMs will rise too.

Agree or disagree.
Every man is a self made man.

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    pitbosspitboss Posts: 8,643 ✭✭✭

    I agree. That is why I am buying all the 2006, 07, and 08 W silver eagles that I can get my hands on at this point.
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    gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Agree, but my feeling is PM's were headed back up anyway this may just speed up the processimage


    Whew, took me 10 try's to reply with out politicsimage
    Avid collector of GSA's.
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    pitbosspitboss Posts: 8,643 ✭✭✭

    Silver is being used up much faster than it is being mined at this point never mind what is being put away as bars and coins. Most people don't even know that there is a collectible aspect to the silver eagles, they just buy them to hold.
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    DrBusterDrBuster Posts: 5,308 ✭✭✭✭✭
    January is closing, was going up anyway.
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    OPAOPA Posts: 17,104 ✭✭✭✭✭
    I'll play the contrarian role in this melodrama, by saying: "when the majority feels that PM's will be rising, then the opposite will occur." image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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    RedTigerRedTiger Posts: 5,608 ✭
    Long term stackers do best when they ignore most of the news, most of the newsletters, most of the blogs, etc. For the most part it is noise, and will tend to make for emotional and wrong decisions. Traders might get excited. There is resistance for gold at the highs, which is only a few percentage points higher--nothing that long term people can even make a profit on after shipping, fees, spreads.

    No one knows how things will unfold in Egypt. It might be like the coup in Russia a few years back, a lot of excitement in the markets for a week, then nothing. It might be more like Iran where there were long lasting changes that shaped political events for the next 20 years. The Egyptian population tends to be quite old school religious (most favor cutting off hands for stealing, stoning to death for adultery, etc), so it is likely that an Islamic regime of some flavor is going to take power, even if there are elections.

    I haven't seen many new, newbies here on the PM forum. That is good news. When they come in from the U. S. coin forum, that is often a sign the market is overheated and needs a rest. If a person has zero gold/silver and wants to start stacking today, go slow, be steady about it, getting an average price is fine, and like I said, ignore most of the news.

    Investment blog: gold, stocks and more
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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    IMHO the fear of rising oil prices under mideast tensions is the real bull in the china shop. The snowball affect has found its way to PMs. I'm sure Egypt is causing some serious bottom hole puckering among political leaders worldwide.

    Give Me Liberty or Give Me Debt

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    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭
    Buy and hold.
    Repeat as necessary.
    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
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    pitbosspitboss Posts: 8,643 ✭✭✭

    If PM's start out on a roll later this afternoon will prices take a quick leap on ebay or are people on ebay not paying much attention to those things?
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    jmski52jmski52 Posts: 22,380 ✭✭✭✭✭
    I work in and amongst the oil industry. It's my firm belief that oil prices aren't going down, and neither is oil consumption. The oil companies evidently think that way too.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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    percybpercyb Posts: 3,301 ✭✭✭
    I agree with others who've said "buy and hold" and that the rest is "noise." Not always easy to avoid the noise, but wear ear plugs if necessary. image
    "Poets are the unacknowledged legislators of the world." PBShelley
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    edmundfitzgeraldedmundfitzgerald Posts: 4,306 ✭✭


    << <i>I agree with others who've said "buy and hold" and that the rest is "noise." Not always easy to avoid the noise, but wear ear plugs if necessary. image >>

    image
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    derrybderryb Posts: 36,212 ✭✭✭✭✭
    Just a continuation of a long term bull market. You have three choices:

    (1) Buy and hold and preserve the value of your capital
    (2) Buy the lows, sell the highs over and over and profit
    (3) Do both

    I choose door number (3)

    Give Me Liberty or Give Me Debt

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    KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>

    << <i>I agree with others who've said "buy and hold" and that the rest is "noise." Not always easy to avoid the noise, but wear ear plugs if necessary. image >>

    image >>



    image

    P O L I T I C S !!!!!!!!!!!!!!! image
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
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    57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    << <i>

    << <i>I agree with others who've said "buy and hold" and that the rest is "noise." Not always easy to avoid the noise, but wear ear plugs if necessary. image >>

    image >>



    image

    P O L I T I C S !!!!!!!!!!!!!!! image >>

    image
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    OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>Was Friday a starting point for PMs? >>



    Nope...Gold just continued it's slide...Need to find another starting point.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
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