Silver up 2% out of the gate! $41.5 ounce

[sofia]

GET RID OF YOUR PAPER WHILE YOU STILL CAN!

http://www.cnbc.com/

 

[Kludge]

//

 

[Agorism]

If there is a downturn, its price will crater. Just keep that in mind.

 

[devil21]

If there is a downturn, its price will crater. Just keep that in mind.

A downturn of what?

I was convinced PMs will do nothing but rise long term when the flash crash of May 2010 occured. As the Dow was cratering, metals went straight up! People don't consider the dollar a safe haven any more.

Here's gold May 2010 See that first upward spike followed by another soon after?

Guess what day that first big spike was? May 6, the day of the 1000 point flash crash. Both metals went straight up that day.

 

[KCIndy]

Dang!

I was hoping that the farce of a "budget deal" would cause a dip. I love buying during dips.

 

[Agorism]

Silver's price is partially dictated by industrial demand. Perhaps not as much as oil is, but it still is dictated by industrial demand.

Gold much less so. It's just an alternative currency.

 

[sofia]

Frankly....you can even buy bags of horse shit and they will "appreciate" in value ...

The dollar is being destroyed....There is no way that Silver, Gold, Copper...or horseshit cannot outperform paper dollars....

How can silver possibly "crash" or even dip long term when we have nothing but Trillion Dollar deficits ahead...deficits funded mainly by FED bond purchases with monopoly money.

10,000 Baby Boomers a day are claiming their Social Security and Medicare "benefits"...The pressures on the printing press will be enormous.

 

[nobody's_hero]

Damn it Bernanke.

 

[AuH20]

The Chinese have been hoarding commodities for the last three years. They know what's coming.

 

[libertybrewcity]

A downturn of what?

I was convinced PMs will do nothing but rise long term when the flash crash of May 2010 occured. As the Dow was cratering, metals went straight up! People don't consider the dollar a safe haven any more.

Here's gold May 2010 See that first upward spike followed by another soon after?

Guess what day that first big spike was? May 6, the day of the 1000 point flash crash. Both metals went straight up that day.

they're called corrections. It happens all the time in the stock market. Gold may have gone up the day the markets crashed, but it definitely went right along with it downwards for a few months afterwards at least.

 

[libertybrewcity]

kitco.com

 

[nobody's_hero]

But what if what we're seeing now is a correction in itself? Do corrections necessarily always have to go down?

 

[torchbearer]

If there is a downturn, its price will crater. Just keep that in mind.

if the price drops, many people will buy. the price stays up because Helicopter Ben is in control.

 

[AuH20]

What is America's true national debt if you add the GSEs and mandatory entitlements? 125 trillion? Does anyone realize that this situation is past the point of rectifying.

 

[AGRP]

What is America's true national debt if you add the GSEs? 125 trillion? Does anyone realize that this situation is past the point of rectifying.

This.

Gold/silver isn't so much as an investment as it is a hedge against the dollar.

 

[Agorism]

if the price drops, many people will buy. the price stays up because Helicopter Ben is in control.

Maybe but oil an silver will plummet.

Gold doesn't have any industrial uses so when global GDP falls, it really isn't affected. It's the only commodity that doesn't have an industrial or agricultural use.

 

[torchbearer]

Maybe but oil an silver will plummet.

Gold doesn't have any industrial uses so when global GDP falls, it really isn't affected. It's the only commodity that doesn't have an industrial or agricultural use.

just about everything with a circuit board has gold in it. gold is an industrial metal.
hell, i read a news story about a guy that lived solely off of melting parts found in an IBM dumpster.

 

[Agorism]

Gold has a very small amount of industrial use, but not nearly as much as silver.

 

[AuH20]

Maybe but oil an silver will plummet.

Gold doesn't have any industrial uses so when global GDP falls, it really isn't affected. It's the only commodity that doesn't have an industrial or agricultural use.

But the problem with oil is that the large hedge funds and investment banks will run to it in times of distress, and in the process drive up the price. The oil market is a safe haven of last resort detached from world demand, more than you would be led to believe.

http://trueslant.com/justingardner/...-lid-off-oilgas-speculation-by-goldman-sachs/

 

[Agorism]

But the problem with oil is that the large hedge funds and investment banks will run to it in times of distress, and in the process drive up the price. The oil market is a safe haven of last resort detached from demand more than you would be led to believe.

http://trueslant.com/justingardner/...-lid-off-oilgas-speculation-by-goldman-sachs/

Well oil has another nuance in that it's just heavily affected by industrial demand. Supply is constantly changing. Every time there is uncertainty or a new war or people are rioting in the middle east, the prices go wild.