Anything under about $24/oz USD would surprise me for Silver. Gold, probably around $1300/oz... that'd just be weird.... and undervalued.
as long as it comes back to where it is today or hopefully a lot higher, I would like the ass end to drop right out of pm's so I can afford lots. I'm sure my regular sellers have noticed I buy in lots of 2. 1 stack for each of my children. I'm no economist but I think the low is nearly upon us, so get ready to dig deep and don't miss the ride. If I was a seller I reckon I would be annoyed at a $1 drop in pm's. As a buyer I think its great. Can't really put a number on my stomach. Reckon I would puke out of glee if it went up or probably spew cause I haven't got enough. Downs good for me at the moment. I have long term faith in my investment.
Exactly. The difference in reaction is exactly the difference between you, vs a 'trader' for example.
Golds about to test some resistance around $1540 US, im waiting to see if it goes past that before I buy some more, havent bought any pm's for ages been waiting for a dip like this.. Gold under $1200 would worry me a bit, silver under $20 also
Gold under US$1,300 because that would be less than the 2011 low and not a good sign. Although I track the US dollar price in terms of identifying trends, it's the NZ dollar price that reflects my paper gains/losses. Gold is currently over 18% down from its 2011 peak in US dollars, but only 13% in New Zealand dollars.
Of all investments, gold and silver are the two that I would not be concerned about drops in at all. They cannot go to zero, unlike a stock in a company. I'd be surprised if gold fell, in AUD, below $1,300. A price below $1,000 USD would surprise me. Silver, I'd be surprised below $22. Very surprised.
Have we suddenly solved the world's economic problems overnight? No. Did gold confiscation just get announced? No. Are assets like stocks or real estate suddenly undervalued? No. Are precious metals volatile? Yes. Strong hands folks, strong hands.
Yep I've just finished watching all of the "After America" DVDs and if there was one very strong message (well several actually) it was as per GP above says re the fundamentals - they haven't changed (stronger IMO) and: 1. Predictions? "Get off the grass, no-one know" - this was from many of the speakers 2. Volatility when you "shouldn't" expect any? "Get used to it. Global markets have never been in such lock-step". Satyajit Das in particular (when pressed to make recommendations) said this about getting used to volatility. There is no puke price for gold, it's an oxymoron.
Probably $1200/$20 Right now working on lowering dollar cost average for my stack(s) while maintaining same weight (+/- 30 oz). I'm still in the black but the spot price keeps chasing my DCA down! I hope it doesn't catch up. All this work when I could have just not bought above $40! :rollseyes:
Bulimic at: $250 gold - aka the Gordon Brown price $11 silver - aka the silver Thursday bottom Be really puking if I sell down at $3000/$150 only to see it go to 5 and 4 digit numbers respectively.
Gold going under $1100 is way undervalued and may shut some operations down, eventually forcing the price back up again. It's a lot like oil. Mining those tar sands etc is expensive and under $80 a barrel is almost not worth doing. Silver is different as its often a byproduct of other mining operations and it will still get mined. It's price could go anywhere but I'd be very surprised if it stayed under $18 for very long. Like GP said nothing economically and financially has changed, well, not for the better anyway. Any time now I think is a great buying opportunity, but like most, even the supposedly financially smart have no real idea what is going to happen to the world economy. To me, if you got into PM's as you think the global financial system is on the brink as I believe, it's a no brainer to keep stacking. I thought we'd hit the floor a few weeks ago but I was wrong. I bought then and I'll buy next week.To me these are great buying opportunities. Hold fast as the road is rocky and not for the faint of heart.
I have no short term plan to sell me gold so in the short term no price will make me puke. But if we're in a deflationary cycle you best be holding some of the yella metal
