Gold SOARING, why not silver?
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ctiger2
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Because Gold is known as the ultimate store of value. Gold is the money of Kings. When it gets too expensive for the Avg man, the poor man's Gold, Silver will then take off. Silver has the Money/Industrial vector going for it which in the end just might even beat Gold. Consider it a blessing if you need to convert some Federal Reserve Notes for Silver. Do it now!
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heavenlyboy34
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That^^ I'm probably going to get hold of some silver eagles next month. 
Original_Intent
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It's because of the industrial aspect that silver is not doing as well. Markets tanking = lower demand for industrial inputs = lower price. When silver is considered money in the way gold is - it will make up the lost ground and then some. But who knows how long that will take?
LibertyEagle
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Gold is 1756 right now.
Bruno
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And how many thought it was overpriced at $1000, 1200, 1400, 1600, and waiting for another dip to buy?
LibertyEagle
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It just keeps going up.
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Gotta be a short-covering rally. Otherwise, why are the miners (and as you pointed out silver) not moving up with it?
I expect a pull back soon. If QE3 gets introduced tomorrow, all bets are off, but really this reminds me of silver in April.
Though I remain bullish gold longer-term.
I expect a pull back soon. If QE3 gets introduced tomorrow, all bets are off, but really this reminds me of silver in April.
Though I remain bullish gold longer-term.
Napoleon's Shadow
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QE3 is happening soon enough: http://www.bloomberg.com/news/2011-...3-after-s-p-rating-cut-li-daokui-says-1-.html
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Gold is well above platinum now.
I expect QE3 tomorrow. That should put some real buyers into the gold market, and not just covering shorts. That's why I dont have the confidence to short it right now.
However, if the Fed does NOT introduce QE3, and gold remains near 1750-1800, I will short it. The fundamentals are there, but sometimes you gotta recognize when things are getting out of hand too quickly.
However, if the Fed does NOT introduce QE3, and gold remains near 1750-1800, I will short it. The fundamentals are there, but sometimes you gotta recognize when things are getting out of hand too quickly.
LibertyEagle
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Oh geez. Dumbasses are going to bury our country.
Lafayette
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headhawg7
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LMAO...I saw a person on the floor of the NYSE and he was talking to the reporter and she asked about gold. He said something along the lines of "gold has no intrinsic value and clearly the place to be right now is in treasurys". It seemed to me that many and I mean many of the shows on both CNBC and on FBN late this afternoon were bringing on guests who were parroting the same garbage. Gold was mentioned here and there but no real discussion on why it was increasing. I feel like I am living in the twilight zone.
For that to happen Industrial use needs to plunge below 50% (right know over 80%) and investment consumption needs to make up size able chunk (right know not even 10% hence the volatility in its price and price manipulation by the big boys).
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