heck, even i saw gold retreating from these highs and i am just a IT guy.
750 an ounce dug out of the ground is a fair price in current market conditions.
i also stopped buying gold.. and even rare gold coins due to this crazy coin market and strange tpg grading.
silver seems more interesting because i can locate it wayyy below melt at antique stores. on the dips i shall consider engelhard 10 ounce bars due to I quitting smoking and not feeling bad about the purchase ;-)
I am betting that Gold will resume it's way back up by Friday. Further more, it will hit $900 by the end of the year. After that, I have no prediction. It may go up or it may go down.
"Production problems mean demand for platinum will exceed supply this year, which could push prices to a record $1,575 a troy ounce in the next six months, according to an influential survey published on Tuesday."
<< <i>According to quite a few charts on the internet, a strong bottom price (ie. great buying opportunity) lies at around $680 to $720 US per ounce. >>
Whats that for silver or palladium ? , cos it sure will never happen for gold
Lots of great buying opportunities from $720-$800....only if you pick the right entry point. If this were a year ago we'd certainly take another few beat downs from here all the way back to $700-$750. But this is not last year. The remaining economic and banking data due out later this week might be hard to overcome.
Comments
a IT guy.
750 an ounce dug out of the ground is a fair price in current
market conditions.
i also stopped buying gold.. and even rare gold coins due to
this crazy coin market and strange tpg grading.
silver seems more interesting because i can locate it wayyy
below melt at antique stores. on the dips i shall consider engelhard
10 ounce bars due to I quitting smoking and not feeling bad about
the purchase ;-)
Platinum however (article on FT.com) seems like it is destined to surge.
From the FT.com article:
"Production problems mean demand for platinum will exceed supply this year, which could push prices to a record $1,575 a troy ounce in the next six months, according to an influential survey published on Tuesday."
<< <i>According to quite a few charts on the internet, a strong bottom price (ie. great buying opportunity) lies at around $680 to $720 US per ounce. >>
Whats that for silver or palladium ? , cos it sure will never happen for gold
roadrunner