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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
 Posted - 12/17/2009 : 15:33:16
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With Gold back under $1100 after topping $1200 not to long ago, where is it headed?
It lost over $40 just today.
Do you think it will go back up after Christmas?
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You don't have to be the BEST you just have to be.......SLICK
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 12/17/2009 : 15:36:49
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I wish it hadn't lost the momentum before Christmas. If it doesn't get it back by February then I think it could drop as low as $800 an ounce, but probably not lower than $975.
And by "it" I mean Silver too. |
"May your percentages ever increase!" |
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jtm3
Penny Pincher Member
USA
187 Posts |
Posted - 12/17/2009 : 15:38:39
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I can't say, I don't see any wood around. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 12/17/2009 : 16:17:56
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We may see silver and gold head south again tomorrow. But then that may be the low for a while. I'm looking to buy 1,000 ounces of silver but have been holding out for more of a correction. Maybe this is it but I don't think so. I'll be watching the market closely tomorrow too. Every penny silver drops is $10 less I would have to spend. Of course that works the other way too.
One thing I'm sure of, when I do buy again it will be 100 ounce bars. I'm through spending too much for eagles or rounds. If the S hits the fan I'll break out my hacksaw. |
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Think positive. |
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wolvesdad
1000+ Penny Miser Member
USA
2164 Posts |
Posted - 12/17/2009 : 16:54:25
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| Hahaha!!! Hacksaw yeah, but you better have your debters(debtors) around you to receive payment or what's left of that bar won't be worth silver without an assay!! |
"May your percentages ever increase!" |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 12/17/2009 : 16:57:33
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I've been nibbling on the way down. I think that GOLD could go to around $1050, slightly above the old 2008 high. When the short term trend is sharply down, you see some nervous sellers come out. I think that's a good time to buy.
I would suggest an incremental approach when buying PMs in a correction. That way if it sharply reverses to the upside, you have already bought. Once it reverses, the bargain asks on marketplaces will disappear. If it goes lower, you still have some fiat to buy more. I think that's a better approach than buying all at once.
I don't think a rally in PMs will occur this month. Too much hot money booking profits right now. I would look for SILVER to outperform next year, as an industrial metal, as the perception that the worldwide economies are improving is factored into the institutional thinking. |
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Edited by - Country on 12/17/2009 17:03:51 |
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theo
Penny Hoarding Member
USA
588 Posts |
Posted - 12/17/2009 : 17:08:38
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| I know we've been due for a correction, but I can't see gold breaking $1,000 (or silver breaking $15) without a full blown market crash. I believe that gold and silver (especially in physical form) are in much stronger hands than they were in the summer of 2008. How many on this board are selling? I think at least some of this is due to fund managers selling PMs so that they lock in their gains for 2009. |
Edited by - theo on 12/17/2009 23:07:29 |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 12/17/2009 : 17:40:26
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I would be really surprised to see gold under 1k and silver under $16.00. Even if we do reach those prices the premiums will be high unless prices stay stagnant for awhile.
I'm betting we'll have some recovery in the overnight markets. |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 12/17/2009 : 17:44:18
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| If gold hits $900ish/silver $15ish and if the premiums are reasonable, I'm going all out. I'll even ask my family and friends to cough up as much as they can lend me. |
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Dalsuh
Penny Hoarding Member
USA
757 Posts |
Posted - 12/17/2009 : 17:55:07
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quote:
Originally posted by Ardent Listener
We may see silver and gold head south again tomorrow. But then that may be the low for a while. I'm looking to buy 1,000 ounces of silver but have been holding out for more of a correction. Maybe this is it but I don't think so. I'll be watching the market closely tomorrow too. Every penny silver drops is $10 less I would have to spend. Of course that works the other way too.
One thing I'm sure of, when I do buy again it will be 100 ounce bars. I'm through spending too much for eagles or rounds. If the S hits the fan I'll break out my hacksaw.
Instead of spending all that $ at once have you considered buying in thirds. It's not dollar cost averaging. It's a method of buying when your already invested in PM's and you have a nice "chunk" of cash you want to invest more with. Basically, your first purchase is the smallest, your second purchase is the biggest and if you decide to buy again the third purchase is the second biggest.
Some trader on PalTalk told me to buy physical this way and it has worked out okay for me. |
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Mountain 7 PM
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Zyll
Penny Pincher Member
USA
214 Posts |
Posted - 12/17/2009 : 18:48:10
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| I think we're just consolidating at $1,100, and fund managers are booking commodities profits to make their portfolios look good. I will be very surprised if gold cracks $1,070; there's too much buying support there. Pretty much this is your opportunity to buy. I'm doing monthly dollar-cost averaging, so I don't often have the cash to run out and buy dips like this...but that's exactly what central banks around the world are doing. My humble 2cents. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 12/17/2009 : 21:08:11
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quote:
Originally posted by Dalsuh
quote:
Originally posted by Ardent Listener
We may see silver and gold head south again tomorrow. But then that may be the low for a while. I'm looking to buy 1,000 ounces of silver but have been holding out for more of a correction. Maybe this is it but I don't think so. I'll be watching the market closely tomorrow too. Every penny silver drops is $10 less I would have to spend. Of course that works the other way too.
One thing I'm sure of, when I do buy again it will be 100 ounce bars. I'm through spending too much for eagles or rounds. If the S hits the fan I'll break out my hacksaw.
Instead of spending all that $ at once have you considered buying in thirds. It's not dollar cost averaging. It's a method of buying when your already invested in PM's and you have a nice "chunk" of cash you want to invest more with. Basically, your first purchase is the smallest, your second purchase is the biggest and if you decide to buy again the third purchase is the second biggest.
Some trader on PalTalk told me to buy physical this way and it has worked out okay for me.
I could do a 50/50 split but not thirds. The dealer I would be buying from has a 500 ounce minimum. Good deal though since his price and free shipping makes it worth it. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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Where is Gold headed?
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