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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.
I Hope you got real Gold and not just paper gold
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.
Since silver is in physical short supply it should appreciate to at least a $200 in real terms to reflect the greater difficulty of recovery of scrap silver in modern usage. Smart move on your part.Glad to see this thread. I don't know much about investing but I just started buying up silver coins. Been hitting the pawn shops and antique shops because most of those places especially the antique shops don't update their prices.
I ended up buying a bunch of silver dimes and half dollars below spot price, and some of them at about 75% of spot price.
Wish I had more money.
Since silver is in physical short supply it should appreciate to at least a $200 in real terms to reflect the greater difficulty of recovery of scrap silver in modern usage. Smart move on your part.Glad to see this thread. I don't know much about investing but I just started buying up silver coins. Been hitting the pawn shops and antique shops because most of those places especially the antique shops don't update their prices.
I ended up buying a bunch of silver dimes and half dollars below spot price, and some of them at about 75% of spot price.
Wish I had more money.
Google the terms DRIP and DSP those are ways to build portfolios on little money but stick with widow and orphan stocks such as utilities until you are sure you understand the market. At that point you can try to cash in on discounts to market price if you have built up to more than say $2000 spread over 10-30 stocks.Since silver is in physical short supply it should appreciate to at least a $200 in real terms to reflect the greater difficulty of recovery of scrap silver in modern usage. Smart move on your part.Glad to see this thread. I don't know much about investing but I just started buying up silver coins. Been hitting the pawn shops and antique shops because most of those places especially the antique shops don't update their prices.
I ended up buying a bunch of silver dimes and half dollars below spot price, and some of them at about 75% of spot price.
Wish I had more money.
The way I figured was if inflation got really really bad then what little free market there still is would most likely move back to the silver/gold standard. People would pretty much ditch the dollar and silve coin would be in short supply.
I also figured that more and more people would start getting on the band wagon and realize that they need to do something. The problem for most of those people is they probably don't have alot of money to spend. What are they going to do? Buy 1oz or 2oz of gold? Most likely not. I think the lower cost of silver will be more appealing thus driving up the demand of silver. Thats what prompted me to get into silver. I have very little money after bills and living expenses.
I'm just going to keep looking for small little deals here and there and build my hoard up slowly.
Debunking the "Bankrupt JP Morgan" campaign.
Kid Dynamite's World: JP Morgan and the Massive Silver Short - The Greatest Story Ever Told
JPMorgan has quietly reduced a large position in the US silver futures market which had been at the centre of a controversy about its impact on global prices for the precious metal.
The decision by JPMorgan was an attempt to deflect public criticism of the banks dealings in silver, a person familiar with the matter said. The person added that the banks position in silver would from now on be materially smaller than in the past.
A group of small precious metals investors has alleged that large short positions or bets on lower prices in silver futures held by several banks, including JPMorgan, are keeping prices artificially low.
The US regulator, the Commodity Futures Trading Commission, announced in September 2008 that it was investigating complaints of misconduct in the silver market, although it did not name specific entities.
However, JPMorgan said in a statement: It is absolutely incorrect to say or imply that the Nymex, CFTC or any other exchange or regulator has instructed or asked us to reduce our position. The bank declined to comment on whether it had reduced its position in the silver market.
The ten year treasury dropped close to 20% in less than a month and the MSM generally ignores it? That is really strange.Both gold and silver pulled back today. Both are sitting on support, with gold at $1380 and silver at $28.75 at the 4pm stock market close. Next support levels for gold are $1370 and $1355. For silver, support is at $28 and $27.50. Breaks below those levels could signal a significant decline.
Weakness was attributed to dollar strength, as currency traders bought dollars in part due to a potential downgrade of Spain and spiking US interest rates. The 10 year Treasury bond is yielding 3.53% compared to 2.80% at the end of November, a violent move in the bond market. The precious metals also sold off in sympathy with a general sell-off in risk assets. Stocks are extended and are due for a rest but momentum remains strong.
The ten year treasury dropped close to 20% in less than a month and the MSM generally ignores it? That is really strange.Both gold and silver pulled back today. Both are sitting on support, with gold at $1380 and silver at $28.75 at the 4pm stock market close. Next support levels for gold are $1370 and $1355. For silver, support is at $28 and $27.50. Breaks below those levels could signal a significant decline.
Weakness was attributed to dollar strength, as currency traders bought dollars in part due to a potential downgrade of Spain and spiking US interest rates. The 10 year Treasury bond is yielding 3.53% compared to 2.80% at the end of November, a violent move in the bond market. The precious metals also sold off in sympathy with a general sell-off in risk assets. Stocks are extended and are due for a rest but momentum remains strong.