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latest trend locally - Trading in silver for gold

jdimmickjdimmick Posts: 9,674 ✭✭✭✭✭
in Precious Metals
The latest trend at least here locally, is several customers are selling thier entire silver holdings, and converting to gold. When asking why the change, many of them feel silver has lost direction, and gold is the place to be.

Comments

  • PerryHallPerryHall Posts: 46,111 ✭✭✭✭✭


    << <i>The latest trend at least here locally, is several customers are selling thier entire silver holdings, and converting to gold. When asking why the change, many of them feel silver has lost direction, and gold is the place to be. >>



    Sounds like it's time to start buying silver.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    Sounds like it's time to start buying silver

    AMEN Brother! I in fact intend to do just the opposite today at a local show. If I can find the right price for .999 or 90% silver, and get a fair shake for the gold (which shouldnt be too hard if everyone wants it now supposedly), bye bye gold, hello silver.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • RedTigerRedTiger Posts: 5,608 ✭


    << <i>The latest trend at least here locally, is several customers are selling thier entire silver holdings, and converting to gold. When asking why the change, many of them feel silver has lost direction, and gold is the place to be. >>



    I thought you were going to say GB (Glen Beck) told the customers to do it.


    Investment blog: gold, stocks and more
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    It's usually when the herd thinks direction is lost, it is then shortly regained. Silver is consolidating with a triangle within a triangle over the past 3 months.
    It's not so much a loss of direction as a recharging. Considering that the trend was upwards before the larger triangle has formed, the odds favor a continuation
    upwards. We'll know fairly soon as both consolidations/triangles are about running out of room in about a week. The smaller triangle has formed since Aug 22nd.
    Silver needs to stay/close above $41 to keep this trend alive. A close above around $43 would support a breakout from the triangles.

    silver

    Clive is very bearish on silver and gold right now - suggests caution

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • pursuitoflibertypursuitofliberty Posts: 6,912 ✭✭✭✭✭
    Jim, Thanks for posting this ... an interesting insight into what you are seeing image

    I had a conversation with my local shop that suggested some of the same

    probably a backwards trade at the current GSR (I'm watching to go the other way), but insightful to know it is happening

    “We are only their care-takers,” he posed, “if we take good care of them, then centuries from now they may still be here … ”

    Todd - BHNC #242
  • jmski52jmski52 Posts: 22,822 ✭✭✭✭✭
    I can't repeat often enough that a mix of 2 or 3 precious metals is a good way to endure the changing ratios and market swings.
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    agree with jmski! Diversity is the key!
    Successful Buying and Selling transactions with:

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  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭

    Is 90%, 1 oz, 3 oz, 5 oz, 10 oz, 20 oz, 25 oz, 32.15 oz and 50 oz Silver considered diversification ?
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • OverdateOverdate Posts: 7,007 ✭✭✭✭✭


    << <i>Is 90%, 1 oz, 3 oz, 5 oz, 10 oz, 20 oz, 25 oz, 32.15 oz and 50 oz Silver considered diversification ? >>


    Not unless you also have a stash of 40% and war nickels! image

    My Adolph A. Weinman signature :)

  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>Not unless you also have a stash of 40% and war nickels! image >>



    a rising tide lifts all boats!image
  • halfhunterhalfhunter Posts: 2,770 ✭✭✭


    << <i>Is 90%, 1 oz, 3 oz, 5 oz, 10 oz, 20 oz, 25 oz, 32.15 oz and 50 oz Silver considered diversification ? >>



    I like the way you diversify ! ! ! image

    HH
    Need the following OBW rolls to complete my 46-64 Roosevelt roll set:
    1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
    Any help locating any of these OBW rolls would be gratefully appreciated!
  • MilesWaitsMilesWaits Posts: 5,349 ✭✭✭✭✭
    Good for them!

    They are trading one PM for another PM.

    They are not trading PM's for crack or second-hand Corvairs. Life is good.

    Miles
    Now riding the swell in PM's and surf.
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