Gold, Silver Testing Lows Again

[SevenEyedJeff]

I don't know about you, but I think this is a good time to go pick up another 10 oz of silver. Gold at $ 870 and Silver at $ 16.66. The 2nd quarter is seasonally weak for these metals, and we are almost through it. I say get more now while it's down.

 

[Conza88]

I was peeved at myself for not buying (at like 850ish) when it hit $950..
I really need to get my shiz organized.

 

[Bruno]

Wow! What a drop in the past two days despite oil hitting all-time highs. Looks like a buy opportunity to me as well.

 

[Conza88]

Seriously wtf, its got to be manipulated.. oil is through the damn roof. Inflation is approaching WIEMAR republic..

 

[Dr.3D]

It will be interesting to see the COT reports this Friday. I'll bet the 8 most concentrated shorts sold a bunch of their contracts. Time will tell.

 

[newyearsrevolution08]

Manipulated or not the great thing is we know when we see a deal. I don't trust gold pricing BUT silver looks to be the next thing they will be exploiting for profit and if anything I want to be there when it happens.

Anytime silver is under $20 an ounce I am more then happy to buy some, it will end up working out much better in the long run versus if I tried to buy 1 ounce of gold whenever I had a spare grand lying around.

Silver just has a higher glass ceiling for the market to exploit that I see it being more beneficial then any other metal right now.

It would be great for gold to drop while silver rises so we can buy low on gold like we are able to do right now with silver.

Only mistake I see having is worrying about short term gain with the silver. I see silver bars beings something to hold onto for now until "whenever" it might be needed versus a "get rich" of the market approach.

Silver is the way to go and I love to see it in the $16/ounce range now. I just hope it stays around this number for awhile so people can actually buy at that price.....

 

[lucius]

"Gold suppression is JOB ONE at the Fed, and the Fed uses its vast powers, in conjunction with the powers given to the PPT by Reagan's Executive Order (and we might add in conjunction with powers that go way beyond the mandate called for in that Executive Order), to create the wall of worry for precious metals."

 

[bander87]

The dollar is doing a better today and oil did drop $4 I believe.

 

[DrCap]

I'm already in more this week, though I still think there's risk of further downs in the short term as I still think the fed. reserve is still trying to kill the PM rallies - though I've already accepted the fact that I will be buying in more if PM's keep falling - in the next few years I think the value is still going way up.

 

[ThePieSwindler]

if i remember hearing correctly, the swiss central bank is selling off alot of gold. They have some of the largest gold reserves in the world... that is probably one factor in the lowering of gold

anyways, dont overdo it with the gold or PMs, guys... its a pretty volatile commodity, not very liquid, often holding real reserves requires an upkeep fee, but even if it doesnt, its really not good when it comes to actual real return on your money. It keeps up with inflation, but over the long run does not outpace it.

if you must invest in gold or silver, do what ron paul does and invest in mining companies or other gold-related businesses - much more liquid (company shares), and any price rises in gold with lead to an increase in sales and ROE. Or hold a commodity/gold ETF. Liquidity is the key here, otherwise, invest in what you want, im not a CFP or anything.

 

[Fox McCloud]

I really think this is a temporary rally before a really huge storm, personally, though I could be wrong (I've definitely been wrong in the past!).

there's just no logical reason for the price of oil to drop, or the price of gold to drop...not to mention it makes absolutely no sense why the dollar is rising in value all of a sudden.

As I said, I think this is a temporary rally, and the months ahead will be complete disaster.

 

[intelliot]

How do you buy gold or silver?

What are "the COT reports"?

 

[danberkeley]

you could by buying GLD or SLV or actual bullion from APMEX