Question: Should one buy silver or gold tonight? Arab Dollar Announcement

[Dionysus]

What do you guys think? Won't this flood the market with unwanted dollars sooner or later?

http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html

 

[dannno]

The transition deadline is being discussed to take place in 2018, so I dunno if the rush is going to begin quite yet.. but then again, why not buy some gold or silver?

 

[Dr.3D]

We saw all of this coming down the pike a couple of years ago.
It would have been better to buy your gold and silver around November of 2008.
That said, in my opinion, it is never really a bad time to buy gold and silver.

 

[Cowlesy]

http://www.ronpaulforums.com/showthread.php?p=2353478

 

[Cowlesy]

Gold is down right now, so the article is not being considered a market-mover.....the article may have already been built into the gold/silver price.

 

[Dr.3D]

Gold is down right now, so the article is not being considered a market-mover.....the article may have already been built into the gold/silver price.

This just hit my email box, so more people are probably going to become aware of this situation.
http://www.gata.org/node/7860

Anybody know exactly what time of the day this information got out? Was it around 11:45 EST today?

 

[Dionysus]

spiking
http://www.kitco.com/charts/livesilver.html

 

[Dr.3D]

spiking
http://www.kitco.com/charts/livesilver.html

Hokey smokes Bullwinkle. Silver is up 1.62% since the close.

 

[Cowlesy]

Hokey smokes Bullwinkle. Silver is up 1.62% since the close.

Yep you're right. It looks like perhaps people are digesting the report and taking long positions -- usually when market news hit you see an immediate move. I guess part of it could be that there weren't very many big PM markets open when the news broke.

 

[Dr.3D]

Yep you're right. It looks like perhaps people are digesting the report and taking long positions -- usually when market news hit you see an immediate move. I guess part of it could be that there weren't very many big PM markets open when the news broke.

I'm interested in seeing what it does between the hours of 01:00 - 03:45 EST when the Honk Kong market usually starts to peak.

 

[DirtMcGirt]

Gold is up too

http://www.kitco.com/charts/livegold.html

 

[Dr.3D]

Gold is up too

http://www.kitco.com/charts/livegold.html

Yep, gold and silver usually run pretty much together. It's just that you get bigger swings in the percentage change with silver.

This chart may help illustrate this.

I'm sorry it's not current, but it does show how they run together.

 

[american.swan]

http://goldprice.org/live-gold-price.html has the best live gold price in my opinion. I like the color-coded candle sticks, after I looked up how to understand them on wiki.

 

[Chase]

Bernanke must not like this news. Paper fiat currencies simply cannot be created out of thin air... people have to trust the paper before it can establish realistic prices, so it has to be based on something sound. The loss of the petrodollar means the end of much of the Fed's ability to manipulate the markets.

 

[Dr.3D]

Bernanke must not like this news. Paper fiat currencies simply cannot be created out of thin air... people have to trust the paper before it can establish realistic prices, so it has to be based on something sound. The loss of the petrodollar means the end of much of the Fed's ability to manipulate the markets.

Thing is, will this stop all of those currency swaps being done by the Federal Reserve? As long as the Fed can keep buying foreign currencies, using the U.S. Dollar, it can keep propping up the dollar against those currencies and thus make the U.S.D.I. keep looking relatively good.

 

[tmosley]

Thing is, will this stop all of those currency swaps being done by the Federal Reserve? As long as the Fed can keep buying foreign currencies, using the U.S. Dollar, it can keep propping up the dollar against those currencies and thus make the U.S.D.I. keep looking relatively good.

Yes, it will. Without a need for dollars to buy oil, there won't be a need for any more or less solvent nation to do currency swaps with us. Maybe we can do it with Iceland, Ireland, or Spain, but I don't think the big boys will want to play with us any more, now that we no longer hold the key to the cookie jar.

 

[Dr.3D]

Yes, it will. Without a need for dollars to buy oil, there won't be a need for any more or less solvent nation to do currency swaps with us. Maybe we can do it with Iceland, Ireland, or Spain, but I don't think the big boys will want to play with us any more, now that we no longer hold the key to the cookie jar.

Then it is going to suck to be holding U.S. dollars. [/understatement]

 

[tmosley]

Then it is going to suck to be holding U.S. dollars. [/understatement]

Or having your income in dollars...

 

[Chase]

Or having to buy gasoline in dollars!!

 

[Dr.3D]

Or having your income in dollars...

So the question presented by the OP would seem pretty important.
Is it time to increase a greater percentage of our portfolio to precious metals?
If so, then what percentage of our portfolio should be in precious metals?

I remember a couple of years ago, I was told 10% of my portfolio should be in precious metals. Is it more like 40 to 50% would now be the suggested percentage? Or perhaps a greater percentage than that?