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Silver and gold are off to the races today

pitbosspitboss Posts: 8,643 ✭✭✭
in Precious Metals
break the $40 barrier this week!
«13456789

Comments

  • cladkingcladking Posts: 28,636 ✭✭✭✭✭
    ...And the au/ ag ratio is finally below 40. This is a watershed number for me.
    Tempus fugit.
  • JulioJulio Posts: 2,501 ✭
    Simply outstanding and a little bit scary. Take care. jws
    image
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>...And the au/ ag ratio is finally below 40. This is a watershed number for me. >>




    What does this ratio mean?
  • erickso1erickso1 Posts: 1,705 ✭✭✭
    It would be the spot price of gold divided by the spot price of silver. It creates a ratio of gold to silver prices that can be compared to historical ratios to determine if one asset would be considered "expensive", "cheap", "fairly priced" or somewhere in between. In this case ( I don't know the historical ratios), it would seem that below 40 means that either gold is really low, or in this case, silver is really high (in relation to the other).
  • pitbosspitboss Posts: 8,643 ✭✭✭
    Thank you!
  • BigMoneyLewisBigMoneyLewis Posts: 194 ✭
    By LAW , the ratio was set at 16:1 somewhere back in the late 1780's or so.
    This is the ratio we are trying to restore . Nothing else is acceptable. Silver is still way too low .
    While we are at it, let's all join together in an effort to legalize the constitution .

    Lewis

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Congrats to $36. Oil over $105.

    Every ratio that I can think of silver to gold is 10 or less.....except for the current price. You can use ounces mined per year, ratio naturally occuring in the earth's crust, futures and LBMA trading volumes, even otc derivatives. In no case can I think of any ratio where silver is 40X higher than gold...except the price.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • goingbrokegoingbroke Posts: 1,410
    Told ya! $37.40-$38.00 its comeing this week!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • jessewvujessewvu Posts: 5,065 ✭✭✭✭✭
    sell at $40!
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Told ya! $37.40-$38.00 its comeing this week! >>



    And so is $3.75 gasimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    And so is $3.75 gasimage

    At least precious metals are somewhat of a hedge against $3.75 gas. It's better than sitting there defenseless.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>And so is $3.75 gasimage

    At least precious metals are somewhat of a hedge against $3.75 gas. It's better than sitting there defenseless.image >>



    True, but I'd rather have $2.50 gas & silver at $22.50image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • pitbosspitboss Posts: 8,643 ✭✭✭

    I don't drive much anymore and I have plenty of food for a while so I will just sit here and watch silver climb and play pogo.
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    I take it that the rest of the world was not as impressed with Friday's economic numbers as were our news outlets.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>I take it that the rest of the world was not as impressed with Friday's economic numbers as were our news outlets. >>





    Can you blame them?
  • MesquiteMesquite Posts: 4,075 ✭✭✭
    No. On the contrary, I'm impressed by their discernment.
    There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
    –John Adams, 1826
  • pitbosspitboss Posts: 8,643 ✭✭✭

    It is almost time for New York to kick in.

    Where does it go from here?

    Hopefully straight up!
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Early opening smack down. Mid morning recovery plus! 100% guessimage
    Avid collector of GSA's.
  • OPAOPA Posts: 17,119 ✭✭✭✭✭


    << <i>Early opening smack down. Mid morning recovery plus! 100% guessimage >>



    No smack down so far...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭


    << <i>

    << <i>Early opening smack down. Mid morning recovery plus! 100% guessimage >>



    No smack down so far... >>



    At least give it 30 minutesimage
    Avid collector of GSA's.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Holding much better than I thought it would.
  • tincuptincup Posts: 5,123 ✭✭✭✭✭
    We are definitely in different and unknown territory right now....
    ----- kj
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    Fear AND Greed

    oh and gas will be $4 here in CA, maybe by sunset.
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Congrats to $36. Oil over $105
    huh, so this is a good thing? Some people were trying to tell me just yesterday that the 2 aren't directly related. image
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    If we're getting back to the 20:1 gsr then we have a ways to go one way or the other.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Silver will be back up by Friday at the latest, maybe even tomorrow.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Started the day at $36.32, so this could be the day for silver to break out.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    I guess not, it looks like another boring see-saw day of sideways movement.
  • pitbosspitboss Posts: 8,643 ✭✭✭
    New York started the day down .79 cents and is all the way back .


    Now up 6 cents. What a comeback






  • pitbosspitboss Posts: 8,643 ✭✭✭
    Just a couple of minutes later it's up 57 cents.

    Will it make it back over $36 today.

    Never mind $36, how about $37
  • CaptHenwayCaptHenway Posts: 32,116 ✭✭✭✭✭
    Perhaps it has recovered upon the realization that Japan, with its silver-consuming electronics industry, is largely intact. The major damage has been to the coast, from the tsunami.
    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.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Up 45 cents right off the bat.
  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭


    << <i>Up 45 cents right off the bat. >>



    Yes...Gold up $8 too, right away.

    Let's see what happens by Monday morning.
    "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)
  • derrybderryb Posts: 36,793 ✭✭✭✭✭
    be careful what you ask for. The ratio can also be lowered if the bottom falls out of the gold price. Ratio is meaningless to me. I view each of the two markets individually.

    "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

  • DoubleEagle59DoubleEagle59 Posts: 8,307 ✭✭✭✭✭


    << <i>be careful what you ask for. The ratio can also be lowered if the bottom falls out of the gold price. Ratio is meaningless to me. I view each of the two markets individually. >>



    Theoretically, yes.

    But this scenario is the rare one.

    The more common scenario is, if the bottom falls out of Gold, it takes Silver alongwith it.
    "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)
  • goingbrokegoingbroke Posts: 1,410
    Who knows, maybe all the gold and silver in Japan will be irradiated! that probibly will make the price rise a bit!
    Many successful BST transactions ajia
    (x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
    mariner67, and Mikes coins
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>Who knows, maybe all the gold and silver in Japan will be irradiated! that probibly will make the price rise a bit! >>



    do you know what irradiated means?

    some types of food we eat is irradiated
    anyway

    we do not want this type of disaster to happen anywhere to anyone (at least i don't)
  • AnkurJAnkurJ Posts: 11,370 ✭✭✭✭


    << <i>

    << <i>Who knows, maybe all the gold and silver in Japan will be irradiated! that probibly will make the price rise a bit! >>



    do you know what irradiated means?

    some types of food we eat is irradiated
    anyway

    we do not want this type of disaster to happen anywhere to anyone (at least i don't) >>



    Agreed.
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,359 ✭✭✭✭✭


    << <i>

    << <i>

    << <i>Early opening smack down. Mid morning recovery plus! 100% guessimage >>



    No smack down so far... >>



    At least give it 30 minutesimage >>



    Diving now. Look out below. image
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • Coins101Coins101 Posts: 2,602 ✭✭✭
    Up & down so far. Any guesses where NY will start?

    I guessing down but in the green by the end of the day.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    I think it will be up and down all night finishing up and will go higher once NY opens.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Still have the feeling that gold and silver are doing zig-zag bounces of their lows of last week. And will continue lower. At least plat, pall, and copper seem to be pointing in that
    general direction.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Still have the feeling that gold and silver are doing zig-zag bounces of their lows of last week. And will continue lower

    Isn't it true that when playing the pm's with options (SLV, GLD, etc.), up and down action just kills you? If you buy a Call, you need the corresponding stock to the option to do nothing but go UP, vice versa for a Put.
    It has been my experience with them that "zig-zag" or "choppy" action makes the Option actually decrease in value due to time decay no matter how far in or out of the money it's being played.
    Is this true roadrunner? I believe it is, but you're the expert on this. If it is true, shouldn't one just stay out and hope for a better trend.
    Now please keep in mind that when I do trade the market, I don't look out any further than 3 months. So when I'm buying an Option, I am not going out more than 3 months tops. Doesn't that also play a key role?
    Why anyone would look out farther than that with regards to playing anything in the stock market is beyond me, but that's just my personal view.
    Now my view on physical metals is a whole 'nother story. I'm specifically speaking about trading the metals in the stock market.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • pitbosspitboss Posts: 8,643 ✭✭✭


    << <i>I think it will be up and down all night finishing up and will go higher once NY opens. >>




    Looking good so far at 8:05 AM eastern.

    Steady as she goes.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭


    << <i>Still have the feeling that gold and silver are doing zig-zag bounces of their lows of last week. And will continue lower

    Isn't it true that when playing the pm's with options (SLV, GLD, etc.), up and down action just kills you? If you buy a Call, you need the corresponding stock to the option to do nothing but go UP, vice versa for a Put.
    It has been my experience with them that "zig-zag" or "choppy" action makes the Option actually decrease in value due to time decay no matter how far in or out of the money it's being played.
    Is this true roadrunner? I believe it is, but you're the expert on this. If it is true, shouldn't one just stay out and hope for a better trend.
    Now please keep in mind that when I do trade the market, I don't look out any further than 3 months. So when I'm buying an Option, I am not going out more than 3 months tops. Doesn't that also play a key role?
    Why anyone would look out farther than that with regards to playing anything in the stock market is beyond me, but that's just my personal view.
    Now my view on physical metals is a whole 'nother story. I'm specifically speaking about trading the metals in the stock market. >>



    There are people that make a living on those up and down choppy movements. Sometimes that choppy trading is fairly predictable if you have seen those same patterns many times
    before. When gold and silver bottomed end of last week that was a somewhat predictable bounce. Whether one has the guts to follow that instinct is another matter. The bounces can last from minutes/hours to a couple of days to even a couple of weeks or months. Depends on what you're following and your own goals and risk profile. I follow one scalping gold trader who makes about $500 per year on his gold futures trading. That's $500 oz net scalped on fairly predictable up and down moves (trend line and Fib bounces, etc.). Others hold longer going from trend line to trend line. As far as PM's options and futures, I don't even go there.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    The bounces can last from minutes/hours to a couple of days to even a couple of weeks or months. Depends on what you're following and your own goals and risk profile

    That's it in a nutshell. Not everyone has the time to track minute to minute or even hour to hour moves to ride the wave and get out with a profit, or save themslf from a beatdown. Setting buy & sell points can be and is very easily manipulated by the market movers. Only they see where all those buy/sell points are and they can run it up or tear it down to trip you in, just to take it back the other way and then you're in a beat down...immediately.
    The game is heavily rigged and until everyone realizes that, the beatings will continue for the avg. guy that just wants to make a few moves here & there. You have to do it full time to be there are react, as you suggested, to the move to either ride it out or bail, and you have to be willing to take more risks than the avg. person probably cares to. jmho

    It's a thing not for the timid, especially being rigged up the ying yang.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • KonaheadKonahead Posts: 1,476 ✭✭✭


    << <i>Who knows, maybe all the gold and silver in Japan will be irradiated! that probibly will make the price rise a bit![/



    Really?image
    PEACE! This is the first day of the rest of your life.

    Fred, Las Vegas, NV
  • Coins101Coins101 Posts: 2,602 ✭✭✭
    Hold on to your hat boys & girls as we seem to have driven off a cliff in the Asia market and are fallling like a rock. Silver down under $35 (down around 2.89%) right now.
  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    image
    Avid collector of GSA's.
  • pitbosspitboss Posts: 8,643 ✭✭✭

    Here we go. Is it time to start buying again?
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