The Gold and Silver Thread

Discussion in 'Economy' started by Toro, Nov 23, 2010.

  1. Toro
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    Toro Diamond Member

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    Considering that precious metals are one of the few assets in a bull market and a semi-frequent topic of discussion on this board, I figured gold and silver deserved their own thread.

    I bought back much of my gold and silver exposure yesterday and added a bit today. There is a bid underneath gold, and though silver is extended, there is support at ~$25-$26. A few weeks of consolidation for silver would do it a world of good.
     
    Last edited: Nov 23, 2010
  2. Madeline
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    This thread ain't about the ladies' preferences in precious metals? Well damn....

    Toro, when you buy gold and silver, do you actually take delivery?
     
  3. Toro
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    Toro Diamond Member

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    I do not take delivery.
     
  4. Valerie
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    Valerie Gold Member

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    [ame]http://www.youtube.com/watch?v=oMlqn_Hjyi8[/ame]
     
  5. Valerie
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    Valerie Gold Member

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    Stocks Drop, Dollar Gains on Korea Clash, Europe Debt - Bloomberg
     
  6. Madeline
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    May I hold onto it for you then?
     
  7. LordBrownTrout
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    LordBrownTrout Gold Member

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    Toro, what types of purchases do you make on precious metals? I bought some more junk 90 percent coins a week ago when silver fell to high 25's. I always take possession of it.
     
  8. william the wie
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    william the wie Gold Member

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    I think it is important to keep in mind that precious metals as a contra-asset obscures their use in electronics and other forms of high tech. More importantly in these uses silver and gold are not economically recoverable at current prices. The shortage of silver is particularly critical so the upside is not really knowable.
     
  9. Toro
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    Toro Diamond Member

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    I buy ETFs and options on ETFs.

    I have thought about buying physical - and storing it in Canada - but have yet to do so.
     
  10. Toro
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    The euro is getting hammered. It is down 2.3 cents as I write this. Gold is significantly higher while silver is off a bit. Right now, my exposure is primarily gold but I do have options on silver. I will quickly sell my position if I think I am wrong in the short term.
     
    Last edited: Nov 23, 2010

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