When during the dip which stores move there prices with spot and who is slow to correct there prices?
I'm pretty sure past points of resistance become levels of support once breached to the upside and you can see a previous test of $36. So it looks like $36 then if that fails, $32. But anything in that range will be a bargain.
Wow, some serious price action underway in NY by the looks of things. Let's see what tomorrow may bring.
Agreed, low 30s would be a good time to buy. I really don't think it is sensible to be buying Silver above that kind of price untill all of this uncertainty has at least given us a clear direction. People buying in the 40s in the hopes Silver retests the $50 is a little silly when you consider the chances of it falling to $30 are far more real at the moment, at least that is the way I see it. I know I keep saying it but silver fell 60% in 2008, anyone who thinks that can't happen again is a fool. Wait and see what happens, IMO don't look at silver under $40 and pull the trigger too quickly.
So where do you guys suggest a newbie to charts etc goes to learn about all this? I'm aware of watching the ratio between oil and gold but I'm not sure what it is I'm exactly look at - if food goes up does the price in PMs follow or is it the difference between the two prices?? I started stacking in 06 purely because it was fun and some part of me realized that I wouldn't lose value on my purchases - now I want to learn more about the investment side of things but I don't really know where to go....
I joined the game SUPER late at the end of July. I've bought at 39-41 not because I'm waiting for 50 in a a few months but because I believe Ag will pass 60 within two years and maybe a 100 in 5-10 years. I bought a fair amount of Au at 1619-1630...a fair amount for my budget I'd say my PM is about 90/10 Au/Ag. My goal is to be closer to 70/30 maybe even 60/40. I've been waiting to buy at 35, if it goes lower I'll buy some more. I'm afraid the days of sub 30's may be over, but if it dipped below 30, I'd find a way to buy more still. My PMs are for 10-20 years and I see no reason to expect US or World economics to be better in a decade or two than they are now. I see ups and downs with a long term decline in world economies. I'm hoping this dip keeps up some steam. I'm also considering a little platinum should it dip lose to 1700.
Silly question, but when you speak of percentages of Au/Ag of your stack, do you mean percentages in ounces or in $ you spent ? thanks.
How low will it go? Last time Gold bounced off $1720 and Silver $39.20 ... Hopefully traders are creating a new floor like the $33 silver which got tested 4 times before launching to $44 pretty quickly...
