The Gold and Silver Thread

[Toro]

Gold and silver could do anything in the shortrun.

They are both trading in fairly tight ranges. I think the bias is still up in the short-term, but we'll see.

What was promising was that gold and silver sold off pretty hard in the pre-market, but both rose into the close, although gold did better than silver. Also on a positive note, Canada sold off hard on the open then rose into the close before selling off in the final minute.

 

[william the wie]

Gold and silver could do anything in the shortrun.

They are both trading in fairly tight ranges. I think the bias is still up in the short-term, but we'll see.

What was promising was that gold and silver sold off pretty hard in the pre-market, but both rose into the close, although gold did better than silver. Also on a positive note, Canada sold off hard on the open then rose into the close before selling off in the final minute.

Bummer for your relatives isn't it? Why do you consider it positive?

 

[Toro]

Gold and silver could do anything in the shortrun.

They are both trading in fairly tight ranges. I think the bias is still up in the short-term, but we'll see.

What was promising was that gold and silver sold off pretty hard in the pre-market, but both rose into the close, although gold did better than silver. Also on a positive note, Canada sold off hard on the open then rose into the close before selling off in the final minute.

Bummer for your relatives isn't it? Why do you consider it positive?

Generally, it is bullish when market sell off in the morning then rise into the afternoon close. It shows that investors are buying the dips. It follows the maxim that the dumb money opens the market and smart money closes the market. Think of it as a poker game. The sucker at the table rushes to place his bets first and shows his hand right away. The pros wait until the end before revealing their hand. Trading is similar. Of course, simply because the close is strong doesn't mean that the market will always go up but its a pretty good rule of thumb IMHO.

But like I said, there is a lot of indecision in the market. Europe appears to be rolling over and the banks have been acting poorly but the small cap stocks may be poised to break out.

 

[FireFly]

IMHO - Gold & Silver have been due for a 10% correction because of the recent big steep run-up. On the flip-side other currencies have weakened forcing gold up along with the dollar during its correction. This has caused a turbulent sideways correction that has it range bound at the moment.

Short term is choppy sideways. Long term is bullish. I will be buying if it gets into the low $1300s.

 

[william the wie]

Toro, you might want to check on the expected decision of the German Constitutional Court in regards to the Euro bailouts due in February. I have yet to hear a possible outcome that does not lead to Euro meltdown from ECB Quantitative easing.

 

[Toro]

Toro, you might want to check on the expected decision of the German Constitutional Court in regards to the Euro bailouts due in February. I have yet to hear a possible outcome that does not lead to Euro meltdown from ECB Quantitative easing.

If so, that's good for gold and silver long-term. It might whack precious metals in the short-term, however, as there is knee-jerk selling in response to a flight to the dollar.

 

[william the wie]

Toro, you might want to check on the expected decision of the German Constitutional Court in regards to the Euro bailouts due in February. I have yet to hear a possible outcome that does not lead to Euro meltdown from ECB Quantitative easing.

If so, that's good for gold and silver long-term. It might whack precious metals in the short-term, however, as there is knee-jerk selling in response to a flight to the dollar.

What is really frightening is that increased buying by Europe might be covered up by devaluation and expanded QEII. Do you have a clue as to how much QE is going to finance putback settlements? My count got upto around 2T before I realized that the firms handling the suits might be part of the same legal consortia is there some sort of clearinghouse on that data or not?

 

[Toro]

I don't know.

 

[william the wie]

I don't know.

I haven't run across anyone else who even claims to do so but making whole the senior tranches may also apply to the mezzanine tranches, which could get nasty.

 

[LordBrownTrout]

News Headlines

Predicts slower growth for silver in 2011. 50, 60 an ounce perhaps by end of next year?

 

[Toro]

News Headlines

Predicts slower growth for silver in 2011. 50, 60 an ounce perhaps by end of next year?

Damn, I hope so! I want that beach house!

 

[Jos]

I do not take delivery.

If you can't hold it, you don't own it

 

[william the wie]

News Headlines

Predicts slower growth for silver in 2011. 50, 60 an ounce perhaps by end of next year?

Damn, I hope so! I want that beach house!

I live 12 blocks from the beach. Not wishing to be part of the future dune system that is close enough for me. This house cost 10K in the 70s and is purportedly worth 250K now. With my expectation of 40K FMV in 10 years I don't need to up the volatility of my housing by 10x.

 

[Bern80]

Anyone no reputable places to buy from? Most of the places I see advertised you would buy the stuff in coin form. Also, how do you sell it once you have it?

 

[Toro]

Today, the world's central banks continued to support the price of precious metals. The ECB said it will prop up the bond markets of the PIIGS while there is talk of the US increasing it's IMF commitment for Europe.

Yesterday, the government of China said it's citizens can now start buying gold ETFs.

 

[Trajan]

Today, the world's central banks continued to support the price of precious metals. The ECB said it will prop up the bond markets of the PIIGS while there is talk of the US increasing it's IMF commitment for Europe.

Yesterday, the government of China said it's citizens can now start buying gold ETFs.

US increasing it's IMF commitment for Europe.

give me a minute to ponder that irony....unbelievable.

ECB said it will prop up the bond markets of the PIIGS

and off set this how? do they say? they can absorb only so much .

you know, why do I get the feeling they really really, I mean really are scrambling here?

 

[Toro]

Everyone is debasing their currencies. The euro is like the gold standard to the PIIGS. The only way this can be offset while keeping the eurozone intact is wealth transfers from the core to the periphery. This is what the ECB is doing.

 

[Jos]

Anyone no reputable places to buy from? Most of the places I see advertised you would buy the stuff in coin form. Also, how do you sell it once you have it?

https://online.kitco.com/

 

[william the wie]

Everyone is debasing their currencies. The euro is like the gold standard to the PIIGS. The only way this can be offset while keeping the eurozone intact is wealth transfers from the core to the periphery. This is what the ECB is doing.

The Irish and/or German courts will purportedly throw out the bailouts by Feb. What that means for precious metals I have no idea.

 

[LordBrownTrout]

Cheers, boys! We're bailing Europe out now. Time to buy some more coins.