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Want to talk about the price of PMs going up?

tneigtneig Posts: 1,505 ✭✭✭
I do..
Notice the steady creep up going on?

Do you guys see the long term support or lack of it?

And my other favorite question:
Will you be sorry you didn't buy while it was lower?
COA

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Just watching.... have said it would be a lot higher by the end of the year. Do not know if this is a blip or the beginning...Cheers, RickO
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    I'm always buying, I'm always selling. Heck, I'll even trade once in awhile. If the right piece comes along at the right price , I buy it. If the right price for the piece comes along, I sell it.
    Simple image The market is what it is at any given time. I can't control, but I can take advantage of it.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    I think this up-tick in price is a result of the situation in Syria and will be short lived.

    Worry is the interest you pay on a debt you may not owe.

  • daOnlyBGdaOnlyBG Posts: 1,060 ✭✭


    << <i>I think this up-tick in price is a result of the situation in Syria and will be short lived. >>


    image
    Successful BST transactions with: blu62vette, Shortgapbob, Dolan, valente151, cucamongacoin, ajaan

    Interests:
    Pre-Jump Grade Project
    Toned Commemoratives
  • OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>

    << <i>I think this up-tick in price is a result of the situation in Syria and will be short lived. >>


    image >>



    image

    +2
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,110 ✭✭✭✭✭
    Up tick was in place before latest developments, but likely continuing because of Middle East uncertainty. I do expect one more break downward ($1250 gold?) before a sustained PM bull that will result in much greater all time highs.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Jinx86Jinx86 Posts: 3,666 ✭✭✭✭✭
    Im thinking of selling my apmex purchase from 2 weeks ago for a quick profit taking. Also thinking of having some extra cash on hand for a project car and parts.
  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    The slide in stock prices is certainly helping the rise in PM prices.

    Worry is the interest you pay on a debt you may not owe.

  • mhammermanmhammerman Posts: 3,769 ✭✭✭
    Hummmmmmmmm...As noted on this forum, something strange was happening over the last couple of weeks so I took a bite of APMEX. Got up today and went back at it. Methinks 1300 is a nice round number for a bottom, but that's just me. Yep, there is some upside coming but I'm more of a stacker than a flipper so don't take out a second mortgage based on my thinking. Don't think there is much downside so "long term support"...yeah; sorry I "didn't buy when it was lower"...nope.


    Hey Buddy, can you spare an ol' boomer a couple of ASE's?
  • derrybderryb Posts: 36,110 ✭✭✭✭✭


    << <i>The slide in stock prices is certainly helping the rise in PM prices. >>


    This is not normal. The rise in oil is more likely a big factor. VIX is at 9 week high and is telling us the equity indexes remain under threat.

    When I contemplate PM price direction I like to think in terms of "what are the odds?" Short term odds say "up."

    The decline from democracy to tyranny is both a natural and inevitable one.

  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    Can we agree that there are many psychological, economic, and political factors that influence the prices of PM's?

    Worry is the interest you pay on a debt you may not owe.

  • derrybderryb Posts: 36,110 ✭✭✭✭✭


    << <i>Can we agree that there are many psychological, economic, and political factors that influence the prices of PM's? >>


    Certainly, but you left out "central banks." image

    The decline from democracy to tyranny is both a natural and inevitable one.

  • PokermandudePokermandude Posts: 2,709 ✭✭✭
    I was fully expecting a moderate beat down yesterday or today. I think we'll see two more bounces off ~$21-22 in silver and then off to the races.
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • I believe if the launch command is given on the cruise missiles, the metals could be in for a wild ride. This last 4 weeks is not a bad flip point if you bought plenty. I still have several hundred coming from both APMEX and Westminster that are already up 10% since order date.

    I, like POM buy and sell all the time and do well with the swings. Beats keeping funds in the bank at .03 percent so they can loan it out to my daughter at 22 percent LOL. The difference being the bank will get their payment where dad didn't.......

    Keep stackin
  • jmski52jmski52 Posts: 22,299 ✭✭✭✭✭
    I'm re-shuffling & consolidating a bit.

    I'm taking this opportunity to gather up as many odds & ends to sell them, and then I will balance out my gains vs. losses to a net zero.

    Then, with the cash I'm generating, I've got several projects to pursue - some of which are additional coin & bullion purchases.

    The fact that metals are going up gives me the incentive to get things more like I want them.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.


  • << <i>I think this up-tick in price is a result of the situation in Syria and will be short lived. >>

    image

    I'm thinking of adjusting my paper to metal ratio, getting rid of some of the paper and acquiring more of the metal. I just do gold as a PM.
  • johnny9434johnny9434 Posts: 27,410 ✭✭✭✭✭
    im just seeing whats going on right now.
  • MetalsmanMetalsman Posts: 2,025 ✭✭✭


    I'm thinking of adjusting my paper to metal ratio, getting rid of some of the paper and acquiring more of the metal. I just do gold as a PM. >>




    This reminds me of wise old proverb "a metal in the metalsman hand is worth two in the paper" image

  • morgansforevermorgansforever Posts: 8,428 ✭✭✭✭✭
    <<I think this up-tick in price is a result of the situation in Syria and will be short lived.>>

    Increases in PM prices or the situation in Syria will be short lived? So far it appears the U.S. will strike Thursday with Cruise missiles, then what? What will be Russia's response? China?

    EDIT: If the strike doesn't topple Assad then what? More strikes? More troops?
    Russia calls the U.S. a monkey with a hand grenade. Meaning going forward with missile strikes on Assad will be instant death. God bless us all.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • OperationButterOperationButter Posts: 1,672 ✭✭✭


    << <i>I think this up-tick in price is a result of the situation in Syria and will be short lived.

    Increases in PM prices or the situation in Syria will be short lived? So far it appears the U.S. will strike Thursday with Cruise missiles, then what? What will be Russia's response? China? >>



    maybe that was the point, we will be short lived image
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • derrybderryb Posts: 36,110 ✭✭✭✭✭
    Tonight (Tuesday) will be a good test. Asian equities are seeing an early sell-off, down 1.4% at the open. If metals can weather this equity storm overnight, things remain positive for metals.

    Metals most likely benefiting from the equity sellers not particularly liking the taste of bonds.

    Is war just another form of taper?

    The decline from democracy to tyranny is both a natural and inevitable one.

  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The miners got slaughtered today after making new highs. They appear to be running about 12-24 hours ahead of gold and silver. The bearish candlestick pattern in GDX
    from yesterday is basically what GLD and SLV are showing today. Something to be aware of. GDX got smashed on huge volume 94 and 47 days ago. Quite coincidental that
    today was 47 days since the last major crushing day. Gold and silver are just as extended as the miners were if one looks at price channels, money flows, and momentum (RSI).
    Tomorrow should be interesting as we continue into the is Options Expiration/Treasury auction week. Fwiw the pattern from August 2012 is so far being duplicated with hits the
    first week in August, then around 13th-14th, and finally during the last week of the month. After the gold to silver ratio has tanked from 67 to 57, it's asking a lot for it to continue
    diving from here as that's what needed to keep the PM rally alive.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • derrybderryb Posts: 36,110 ✭✭✭✭✭
    I see the long term support. That's why I continue to stack even knowing short term declines remain.

    The banks currently have 1.8 trillion dollars in excess reserves on deposit with the FED. Banks normally carry little to no excess reserves. Banks are in the business to loan money, that's their bread and butter. Banks also heavily practice fractional lending, sometimes up to 25 times loaned out over what they actually have. When loaning money returns to its norm (requires an improved economy) and if the banks only loan out 10 times this money, we will see 18 trillion dollars hit the economy. If even half of it gets into the hands of borrowers we are going to see some massive price inflation as both the available money supply and money velocity drastically increase. Money is borrowed to be spent. Spending money drives prices. An improved economy will lead to further borrowing and too much debt will once again lead us right back where we are now.

    On the other hand, if this money remains on deposit with the FED it will be because the economy remains trashed. We have witnessed first hand how PMs respond to an uncertain, trashed economy. Do not forget the trashing of this economy is the result of too much debt. Wash, rinse, repeat.

    So, as I see it, either way the economy goes, gold (and silver) are definitely golden. The only real threat to PM performance is and has been deflation. Deflation is the FEDs biggest fear - look for them to continue fighting it at all costs.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>

    << <i>I think this up-tick in price is a result of the situation in Syria and will be short lived. >>

    image

    How true....I suspect come Monday, Silver will retrace the short term gains brought on by the crisis and settle back to the $22 - $23 range. If not, "off to the races."
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • Commodities as well as the equity markets have very strong and amazing powers. Take for example Silvers upswing in prices that is causing a Syrian war crisis. Also, remember the financial melt down a few years ago that was precipitated by the rapid decline of the Dow and S&P. Examples of the markets power to cause extreme calamitous events are notorious and many.

    Beware the markets, as they hold predictive powers that are unequaled in their ability to also bring about the most devastating of world events.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • OPAOPA Posts: 17,104 ✭✭✭✭✭


    << <i>Take for example Silvers upswing in prices that is causing a Syrian war crisis >>



    "SiLver is causing a Syrian war crisis?" Sorry that just does not computeimage
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,110 ✭✭✭✭✭
    Jim Willie claims Syria invasion will be all about defending the petro dollar

    If he is correct, a missed opportunity to defend the dollar will fuel the long term PM bull.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • Do we want to talk about metals going down?
  • derrybderryb Posts: 36,110 ✭✭✭✭✭


    << <i>Do we want to talk about metals going down? >>


    Certainly, down is part up the "up" process.

    image

    The decline from democracy to tyranny is both a natural and inevitable one.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭
    Gold goes up, someone buys it. Gold goes down, someone sells it. Someone is stupid.
  • jmski52jmski52 Posts: 22,299 ✭✭✭✭✭
    Gold goes up, someone buys it. Gold goes down, someone sells it. Someone is stupid.

    Timing isn't everything, and I continue to try and point this out to the hair-trigger technical traders amongst us. I would contend that asset management and cash management are every bit as important as good timing.

    JMHO


    P.S. - oh, and picking a few good winners now and then helps, too.image
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,110 ✭✭✭✭✭

    The decline from democracy to tyranny is both a natural and inevitable one.

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