Just peeked at metal quotes on Kitco. Everything is currently in the red with the dollar surging. All markets are way down, including oil surprisingly. Gold and silver are unwavering, holding their own. It appears we should be seeing a slight pullback at this time, but it isn't happening. Let's see how this plays out through the week. It just might get interesting!
I think there's a lot of underground seasonal adjustment going on, fear on the Sept 12 Germany bail out decision and looming QE3. I personally think a pullback may very well be on the cards when Sept 12 turns out to be a 'non event', but we'll see.
I am with ya, this is a setup if I have ever seen one. It's a game of chicken between ECB and FED as to who will bail out the world economy. Neither will blink and we will see sub $20 silver... maybe even as low as $17. Despite this this is NOT the time to sell as these clowns do NOT have control of the runaway train wreck that is the world economy, they could quite accidentally push it over the fiscal cliff and in that case your will need you PMs more then ever.
The question is should we continue buying or wait a little bit for a pullback ... I was very comfortable in adding silver when it was in sub $30 ...
As Derek said.. Do what ya gotta do. If you have a core wait. If you have little go for it. One thing I have accepted about making money is that you have to lose money, anyone who says it it not so has their money in US Tbills
I am in the same situation i cannot get myself to buy .999 silver with spot at $32 since it was at $27-$28 for a while and i was buying daily. its a tough decision for me and hard to make any sizable purchases...i might be kicking myself later when spot is at $35-$36
