When the markets open Monday I expect to see a nice spike in PM's. Anyone think $30 an oz by weeks end? Its less than 10% away.
I tend to agree with that Matthew. With all the unrest that ie going on in Egypt and how it may affect the middle east, it is hard to see how metal prices can go down.
I think the POS will be closer to $31 by the end of the week, I think the dip is over (for now at least).
Definitely could be the case. Sourcing issues would have halted a lot of the opportunity to buy during the dip though.
Just buy futures or CFD contracts while there are supply issues, infact using contracts as a hedge against your physical positions is not such a bad move either as it will minimize any losses you may incur in any down trend
Despite the bounce back that i soccurring, TheGoldandOilGuy thinks that the downtrend continues... From his free email... Silver Daily Chart Silver has formed a very nice looking top and it is now trading under its key moving averages. It is also currently testing a key resistance level after Friday's bounce on the back of fears in Egypt. Unless something happens internationally I figure silver sill continue its trend down. Source: http://www.thegoldandoilguy.com/articles/precious-metals-and-the-dollar’s-next-big-move-part-ii/
and this Gerald Celente Twitter feed: Gold @$1339. You can bet your last Krugerrand that Central Banks & Financial Gang will intervene in gold & equity mkts to quell Egypt. fears
To clarify my post above, TheGoldandOilGuy thinks that precious metals will definately trend higher but the current bounce is just a blip on the short-term down trend. Average the purchases is the best bet i reckon.
and down in the red we go again - I gotta stop buying silver - I keep driving the price down!! malachii
Thanks for the reads. No bull in the house? I have my eye on $40 in March. Even took a job so I could buy more.
My optimistic/pessimistic $24 was a bit off earlier last week. Having read that article about the Hunt Brothers over the weekend I'm seriously wondering if there is ever a possibility of a silver breakout price in my lifetime. That's why I prefer to stack semi-numis. At least then there's some collector value over the base intrinsic. Unless the SHTF scenario eventuates and then I should've been stacking ammo. While I'm thinking of it is it legal to purchase ammo without a firearms license ? That could be another stackable option for Intelligencer.
No I haven't GP !, it was an original Australasian concept. One weekend my Dad hollowed out a beautiful full metal jacket .50 Cal round & polished it all up for me to keep. So off I went to school Monday with it in my lunchbox proud as punch. Anyway, they shutdown the lunchbreak & sheepishly moved everyone away from my vicinity. Was an interesting "please explain" situation by my Dad later on. I think if you had a modern blackpowder weapon, some lead or unwanted gold to make balls & lot's of Potassium Nitrate you'd be safe for a while. Silver for the kinda folks Mark likes to create. (& there I go draggin everyone off topic & upsetting the tolerant moderator again !)
