This is still below when gold first crashed down to the $1,600 level again back in late September. And still $100 or so below the price earlier this year. So the recent price rise in itself is nothing to get excited about. But on the other hand, we have news like this coming out. It's US bonds that we really have to look at for a signal: http://www.growthstockwire.com/3131/Horrible-News-for-Bond-Investors
Gold and Silver both up strongly again last night due to the release of the FED minutes which showed growing support for the central bank to provide additional stimulus "fairly soon". So looks like we will see more money printing sooner rather than later, good time to be in Gold and Silver!!
There was a news article I read the other day saying that China was after 6000 tonnes of the shiny stuff. While the world is still run by mad Keynesian economists, gold will always be in demand. Printing is the only thing they know, it will come and so will much higher prices for PMs. Platinum has gone up 11% in the last month. Keep stacking.
I am waiting September drop, 1300-1400usd range, Euro is raising, Au is raising, i see this just like a preparation for big drop . First will rise and then drop, so drop will look huge and will shake off weak hands. Attack on Syria probably follow, and then after reelection new QE...
^ a drop would really screw people over... So yeah, I wouldn't be surprised if it works out similar to what you've suggested
Interestingly near all-time high for Indians. http://timesofindia.indiatimes.com/...old-near-record-high/articleshow/15610825.cms
I dunno if this recent buying means being out of the dip. I could have sworn last March ($1,700) that we were out of the dip.
It's all directly depending on wether countries are being bailed out by more printing or just defaulting....The pressure waves on the metals follow accordingly to whats going on and who's getting the next bailout.... Plus this new China deal to buy so much is very positive aswell.
I suspect $33.52 will be the silver limit before a big drop, gold?? maybe a run up to 1790 and then a plunge
what could possibly trigger a drop? if we have QE3, would people move out of pm's (causing a drop) and into stocks as the free money will temporarily prop up the stock market? but then doesn't that mean inflation too... so back to pm's?? ooor just stick to pm's all the way and take the hit when/if the price drops?
@smeagol It doesn't matter if people move into PMs or not... the people aren't the ones that move/make the market (the paper market). But generally QE3 looks good for PMs