Silver and gold are off to the races today

Mesquite · March 14, 2011 11:46PM

A little early I think. But then what do I know - I bought yesterday.

jmski52 · March 14, 2011 11:47PM

It's a thing not for the timid, especially being rigged up the ying yang.

You call this a selloff? Nah.

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

You call this a selloff? Nah.

Look guys, this Japan disaster wasn't expected. That makes it a potential black swan. I don't think it's over yet. Eventually the metals will head back up, but I am skeptical about an immediate bounce this soon.

fishcooker · March 15, 2011 12:22AM

Tried to short, but didn't get it done. That should ensure a lower move.

Coins101 · March 15, 2011 12:50AM

<< A little early I think. But then what do I know - I bought yesterday.

>>

Me toooooo - oh well!!

pitboss · March 15, 2011 1:40AM

Well, the $34 level held and even bounced back nicely, so far, from the overnight slaughter.

pitboss · March 17, 2011 9:21AM

Silver appears to be weathering the storm of the past week.

Coins101 · March 17, 2011 9:40AM

I would like to see it get back up above that $35 mark. Once there, I believe we will see it creep up and up until it hits the next resistance point (which I understand is around $37-38).

derryb · March 17, 2011 9:45AM

<< There are people that make a living on those up and down choppy movements. >>

There are also big banks that help create those movements only to profit from them.

pitboss · March 18, 2011 12:12AM

Up 85 cents on todays market.

PerryHall · March 18, 2011 12:51AM

Up $0.93.

Coins101 · March 18, 2011 1:28AM

We are above $35. Now, if we can stay there. She jumped at the start but are at $35.01 as I type this.

Coins101 · March 18, 2011 8:01AM

A little bumpy this week though not bad and we finished nice. So, any guesses about next week?

pitboss · March 18, 2011 8:08AM

I guess a lot depends on world events.

cosmicblunder · March 18, 2011 8:42AM

I planned on buying some silver this weekend. Purchase canceled.

Coins101 · March 18, 2011 8:55AM

<< I planned on buying some silver this weekend. Purchase canceled.

>>

The seller canceled or did you? From reading your post, it would appear you changed your mind.

I am on the fence right now. If I find a good deal, I may jump but if not, I will just sit.

PerryHall · March 18, 2011 10:08AM

Up $1.05 today.

JamesMurray · March 18, 2011 2:18PM

<< I guess a lot depends on world events. >>

I heard in email from home this evening that the Tornado fighters from RAF Lossiemouth are on the way to visit Gaddafi.

KUCH · March 18, 2011 10:14PM

According to Martin Armstrong, we want a high March PM price and a LOW June price to keep the charts going forward. If we get the opposite, low March and HIGH June price then breakout is delayed.

I'm not an economist, nor do I know how to read the charts. I leave that to the pro's and just read everything I can to form a half way intelligent plan.

roadrunner · March 18, 2011 11:22PM

<< According to Martin Armstrong, we want a high March PM price and a LOW June price to keep the charts going forward. If we get the opposite, low March and HIGH June price then breakout is delayed. I'm not an economist, nor do I know how to read the charts. I leave that to the pro's and just read everything I can to form a half way intelligent plan. >>

Seems that's how things appear to be headed as of the moment. Gold has been correcting for 4 months. Silver is generally following but performing much better once the liquidity tides shift. This past week's deep dips allowed Plat and Pall to retest the necklines of their May-October moves. Silver and gold retested their Dec-Feb runs.

Platinum daily chart

roadrunner

pitboss · March 20, 2011 12:46AM

There will be no smackdown today.

CaptHenway · March 20, 2011 1:54AM

<< 

<< I guess a lot depends on world events. >>

I heard in email from home this evening that the Tornado fighters from RAF Lossiemouth are on the way to visit Gaddafi. >>

Careful.....Gaddaffy might be reading these forums........

Loose lips sink airships, you know.......

pitboss · March 20, 2011 2:38AM

I got a feeling that he is not too worried what his gold and silver is worth but more worried about how to cover his a$$.

DrBuster · March 20, 2011 6:07AM

So who's thinking a nice up on monday? If I didn't just write a check to pay the wife's suv off I would have LOVED to have made a purchase this weekend...been out since end of January though so....

PerryHall · March 20, 2011 6:09AM

The PM market opens in Asia in less than 2 hours. It should be interesting.

DrBuster · March 20, 2011 6:14AM

Japan and N Africa+ the Mid East is all kinds of nutz. I do think we're on the rift of a world issue and major corrections before it goes too much off kilter.....

pitboss · March 20, 2011 8:10AM

37 cents up already

Coins101 · March 20, 2011 10:03AM

Up $0.42 as of right now with a $0.05 spread between bid and ask.

Ok, now for a dump question, when you see a price quotes, say $2.00 over spot, is that over the bid or the ask price?

CaptHenway · March 20, 2011 10:20AM

<< Up $0.42 as of right now with a $0.05 spread between bid and ask.

Ok, now for a dump question, when you see a price quotes, say $2.00 over spot, is that over the bid or the ask price? >>

Traditionally, it is over Bid, but people can name their own Terms Of Sale. Doesn't hurt to ask the seller beforehand.
TD

Res · March 20, 2011 10:09PM

<< 

<< Up $0.42 as of right now with a $0.05 spread between bid and ask.

Ok, now for a dump question, when you see a price quotes, say $2.00 over spot, is that over the bid or the ask price? >>

Traditionally, it is over Bid, but people can name their own Terms Of Sale. Doesn't hurt to ask the seller beforehand.
TD >>

yes - it's always good to know the price before you agree to buy it

pitboss · March 20, 2011 10:14PM

At $36.09 just before opening at 08:08 eastern time , where does it go from here but up.

gsa1fan · March 20, 2011 10:19PM

Gas at pump will be going up too I'm sure. Better fill up early.

CaptHenway · March 20, 2011 10:58PM

<< Gas at pump will be going up too I'm sure. Better fill up early.

>>

So will your bread, your milk and your Froot Loops. Inflation is back!!!!

pitboss · March 20, 2011 11:06PM

In the last 3 weeks I have spent an extra $2000 stocking up on non perishables just to get a jump on things. I have plenty of room to store that stuff so why not. It will save me more money that having that money in the bank will make me.

roadrunner · March 20, 2011 11:57PM

Nice jump in silver overnight to over $36. But now it has to go back to $35.20 to fill the Sunday night overseas gap. Gold has to return to $1419.

roadrunner

DrBuster · March 21, 2011 12:00AM

Back in January I bought a 14 Kook run from Grandam at a tad higher than I wanted to pay premium per oz on average, but still less than hunting those babies down individually. One of those gotta-have-them deals though that everyone here knows all about.

We're a couple bucks away from them being a total ridiculous deal now. Huzzah

pitboss · March 28, 2011 3:34AM

Opened on NY down 83 cents now only low 20's down

Coins101 · March 28, 2011 3:55AM

It's coming back slowly. Hum, it may even be green by the close.

KUCH · March 28, 2011 4:51AM

<< In the last 3 weeks I have spent an extra $2000 stocking up on non perishables just to get a jump on things. I have plenty of room to store that stuff so why not. It will save me more money that having that money in the bank will make me. >>

pitboss, if you care to share........ what non-perishables did you buy? Did you at least buy 1 bottle of Ouzo?

Coins101 · March 28, 2011 5:26AM

<< It's coming back slowly. Hum, it may even be green by the close. >>

And maybe not. I forgot it was the end of the quarter and there may be a lot of profit taking going on for appearance purposes. Will see what happens starting in April.

roadrunner · March 28, 2011 6:06AM

Options expired today so no surprise the hits to gold and silver. Gold gapped down on Sunday night's open so it will probably maneuver up to there tonight or tomorrow to fill it.
Silver should go up with it. GSR still living down in the low 38's which is still bullish for silver over gold.

roadrunner

mhammerman · March 28, 2011 6:38AM

Short read on silver today

Don't forget to scan over the comments below the article.

jmski52 · March 28, 2011 1:05PM

Everyone seems to assume that silver will naturally crash from current levels at some point. Interesting. I'm not that convinced.

pitboss · March 29, 2011 4:12PM

Silver has been stagnant for a couple of days now, is it time for another move up?

CoinMaster1229 · March 29, 2011 7:18PM

<< Everyone seems to assume that silver will naturally crash from current levels at some point. Interesting. I'm not that convinced.

>>

Jim Rogers on CNBC this morning, He Says don`t sell your silver.

pitboss · March 29, 2011 11:03PM

looking good so far!

pitboss · April 3, 2011 10:27AM

Will it hold overnight?

Wingsrule · April 3, 2011 10:29AM

We will scrape $40 this week.

pitboss · April 3, 2011 12:16PM

Probably will hit $40 this week. I have been concentrating on buying those 5 ounce national park series just as a hedge on my other silver. I

figure that I am getting them at less than silver value unlike the eagles that are selling over value. These 5 ouncers could also hold value a lot

better than eagles if the market drops out on silver. The AP's are just about done selling what they have for 2010 and will start selling the

2011's shortly.

MilesWaits · April 3, 2011 12:26PM

The ATB's were the gift of 2010-2011 from the AP's via the Mint, pitboss.

I too am happy to stock up for the impending rise in silver, regardless of future numismatic value.

I was looking over some silver round rolls to finance *another* ATB Set and may find it difficult to pull the silver-sell trigger.

I may be a bit more willing to part with cash. I am waiting for signs from below or above (the current spot pricing)......

Miles

COINB0Y · April 3, 2011 1:02PM

I'm gonna unload some more 90% after it recovers from the morning dip that JPM usually gives us.

Buying more .40 cal & .223 with some of the procedes.

Silver and gold are off to the races today

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