PDA

View Full Version : Silver up 2% out of the gate! $41.5 ounce




sofia
04-10-2011, 08:02 PM
GET RID OF YOUR PAPER WHILE YOU STILL CAN!

http://www.cnbc.com/

Kludge
04-10-2011, 08:06 PM
//

Agorism
04-10-2011, 08:06 PM
If there is a downturn, its price will crater. Just keep that in mind.

devil21
04-10-2011, 08:08 PM
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?
http://www.kitco.com/LFgif//aumay10.gif

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
04-10-2011, 08:21 PM
Dang!

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

Agorism
04-10-2011, 08:23 PM
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
04-10-2011, 08:52 PM
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
04-10-2011, 08:57 PM
Damn it Bernanke.

AuH20
04-10-2011, 09:02 PM
The Chinese have been hoarding commodities for the last three years. They know what's coming.

libertybrewcity
04-10-2011, 09:04 PM
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?
http://www.kitco.com/LFgif//aumay10.gif

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
04-10-2011, 09:06 PM
http://www.kitco.com/LFgif//auoct08.gif

kitco.com

nobody's_hero
04-10-2011, 09:09 PM
But what if what we're seeing now is a correction in itself? Do corrections necessarily always have to go down?

torchbearer
04-10-2011, 09:13 PM
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
04-10-2011, 09:17 PM
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
04-10-2011, 09:20 PM
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
04-10-2011, 09:32 PM
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
04-10-2011, 09:34 PM
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
04-10-2011, 09:37 PM
Gold has a very small amount of industrial use, but not nearly as much as silver.

AuH20
04-10-2011, 09:37 PM
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/2009/07/03/matt-taibbi-blows-the-lid-off-oilgas-speculation-by-goldman-sachs/

Agorism
04-10-2011, 09:41 PM
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/2009/07/03/matt-taibbi-blows-the-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.

Arklatex
04-10-2011, 10:15 PM
No metal has more uses than Gold. It is the ultimate metal.

http://geology.com/minerals/gold/uses-of-gold.shtml

Do not discount jewelry. There is an little known secret regarding gold, ask the alchemists. If they are a real, then they won't answer for it is for you to discover. There is a reason kings wore crowns of gold, a metaphysical reason.

Agorism
04-10-2011, 10:17 PM
I don't think Jewelry should count though since it's essentially like owning gold coins just made into something fancy.

Arklatex
04-10-2011, 10:20 PM
Gold strengthens the Aura. In the west doctors are taught that the first line of defense of the immune system is your skin, in India their doctors are taught the truth and guess which country buys the most gold? Your first line of defense is the 7th outer layer of your Aura.

libertybrewcity
04-10-2011, 10:28 PM
But what if what we're seeing now is a correction in itself? Do corrections necessarily always have to go down?

corrections always go down because it represents a period where the commodity or whatever is overbought. Sometimes stocks and commodities are overvalued, and when people recognize that, they sell, driving the price down. We know that silver and gold are going to continue up, but not in a straight line. The market, gold, and silver are overdue for a market correction. I'm only guessing, but I would expect one within the month. That's the time to buy.

ord33
04-10-2011, 10:28 PM
Does anyone think that the industrial use of silver will decrease dramatically if the price of silver keeps rising to a point where businesses will attempt to find a new solution or something else to use? I'm sure the argument is that if silver's value is increasing that it is likely all materials are on the rise. Just wondering if anyone sees this a possibility - finding other alternatives to silver for industrial uses. It somewhat concerns me. In my opinion, there is a point when an ounce of silver would be priced too high to use it practically in some goods. Businesses will do their darndest to find a more cost effective solution.

libertybrewcity
04-10-2011, 10:30 PM
Does anyone think that the industrial use of silver will decrease dramatically if the price of silver keeps rising to a point where businesses will attempt to find a new solution or something else to use? I'm sure the argument is that if silver's value is increasing that it is likely all materials are on the rise. Just wondering if anyone sees this a possibility - finding other alternatives to silver for industrial uses. It somewhat concerns me. In my opinion, there is a point when an ounce of silver would be priced too high to use it practically in some goods. Businesses will do their darndest to find a more cost effective solution.

I believe there are some industrial uses where silver is the best metal or only metal that can be used. If the price of silver does get to that point, companies will either raise their prices or look for an alternative metal.

AuH20
04-10-2011, 10:35 PM
Less than 1% of the world population owns physical gold and/or silver. Right now it's going to continue fly under the radar and ascend in price. When folks in the ghetto are refraining from buying 200 dollar sneaks and in turn are investing in gold and silver, then it will be time to jump off the coaster before it goes off the rails. But right now, the fun is just starting, never mind stopping.

devil21
04-10-2011, 10:36 PM
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.

You're right, except that day was special. I can't find the exact rise but gold jumped $30 or so that day, silver too. People FLED stocks for PMs that day. I watched it happen and it confirmed to me that metals have become a safe haven higher than the USD for many, in the event of a stock market crash. That week gold jumped $80/oz. It corrected back down some what but the obvious long term trend was set higher by that event.

eta: here, MSM article on gold that day.
http://latimesblogs.latimes.com/money_co/2010/05/gold-price-record-high-inflation-eu-europe-rescue-greece.html

Jandrsn21
04-10-2011, 10:40 PM
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?
http://www.kitco.com/LFgif//aumay10.gif

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.

I agree, US bonds are no longer seen as the safe haven. PMs seem to be taking their place. The dynamics have completely changed. If only Bill Gross can make another move by shorting the US debt, then going long gold and silver!

MRoCkEd
04-11-2011, 12:45 PM
Lost a buck.

http://www.24hgold.com/chartimages/usSILVERn.png

Acala
04-11-2011, 01:00 PM
Small picture: gold and silver go up and down.

Big picture: the largest bubble in the history of the planet is unwinding - the US Dollar - and it is going to zero or thereabouts. Buy silver, gold, land, tools, machinery, guns ammo, anything with durable value.

AZKing
04-11-2011, 01:17 PM
Looks like it'll rebound to $39... btfd ;)