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What really happened Aug 16, 2010?

tneigtneig Posts: 1,505 ✭✭✭
in Precious Metals
Come on, what really happened to start the spike at that time? The cycle went to end of year 2013.

If you were to disregard those crazy couple of years, the charts would still show the spot price growing slightly.
COA

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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Was it the debt ceiling issue? In any case both gold and silver powered out of their summer lows in August 2010 which is pretty typical behavior.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    cohodkcohodk Posts: 18,622 ✭✭✭✭✭
    Smoebody around here called it....

    Thursday August 19, 2010 7:19 PM


    Then it shall be. Sorry. The signs are there. Not trying to sound like an arrogant arse, its just the way it is.

    ..... Every dark cloud has a SLV lining...


    Again, not trying to sound like an arrogant arse. imageimage
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    wrong year.......deleted post.
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    jrt103jrt103 Posts: 419 ✭✭✭
    Was that when the first QE was announced?
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    CaptHenwayCaptHenway Posts: 31,564 ✭✭✭✭✭
    I do not understand the question. That date was simply in the middle of a long and sustained uphill climb.

    linky

    Feh! The link did not work. Go to KITCO historical gold charts and look at the one for 2000-2014.
    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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    tneigtneig Posts: 1,505 ✭✭✭
    It was such an inordinately high sudden climb which went on for a huge swing for 2 years.
    I still don't understand the cause for that pattern. The stock market may have recovered but the nation went deeper into dept.

    Just trying to project ahead. Like cyclic changes in the stock market.
    COA
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    NotSureNotSure Posts: 2,978 ✭✭✭
    Silver is getting to be quite the buy opportunity now. Heck, the run-up in '11, netted me a very healthy profit in March or May of '11 (cant remember the exact month). I was a buyer up until it hit $20, then, on that day, first thing in the am, that one day in March or May of '11, dumped it all at $48.88. Seemed to just slide south from that point, though has hovered at $20-$21 or so for a bit, until just lately. Seems it doesn't like to hold near $50 for very long.
    I'll come up with something.
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    piecesofmepiecesofme Posts: 6,669 ✭✭✭
    With the clarification from the OP, this sounds like an investing question so I can't really speak to it with the way I view it all mostly being a collector.
    Some have questioned my approach but I'm here to tell ya that it's still working.

    I buy...to sell...then take those profits and buy the silver I really want to keep. May be a roundabout way of acheiving a means to an end, but it's still just a hobby to me. I don't have any long term "investment" strategies because just when you think you're onto to something, big money sees the little guy (me) making too much and throws a wrench in it all. I change my "outlook" monthly, I re-evaluate monthly.
    To forgive is to free a prisoner, and to discover that prisoner was you.
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    cohodkcohodk Posts: 18,622 ✭✭✭✭✭


    << <i>It was such an inordinately high sudden climb which went on for a huge swing for 2 years.
    I still don't understand the cause for that pattern. The stock market may have recovered but the nation went deeper into dept.

    Just trying to project ahead. Like cyclic changes in the stock market. >>




    So you wanna be a chart reader, eh? Well, the pattern that developed was easily recognizable and many profited. The run did go much higher than I thought (never underestimate the power of a mania), and I sold in the low 30's.

    You should look at 300 charts a day. Then revisit you question in 5 years. You might just see the answer.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

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