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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
 Posted - 01/05/2010 : 09:57:45
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gold and silver were taken down in the last week of the year, but have been extremely strong the first 2 days of the new year.
do you think the down trend will continue or is this a break out to the upside?
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Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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jman1237
Penny Sorter Member
USA
52 Posts |
Posted - 01/05/2010 : 10:23:02
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I have read a "few" books but make no claims to be an expert, just here to have an opinion... I have a weird feeling
that anyone with any cash will get a chance to buy gold and silver "cheap" again... and I also believe that when it does take off
it will have its ups and downs of course but "how do we argue that they are not debasing the dollar? I don't know about
all this Globalism and One currency stuff, but I think it is safe to say that most of the world agrees that GOLD, SILVER, AND EVEN COPPER make more sense to exchange in a currency crisis than "paper"!! I keep thinking with all that
fiat out there that my HP printer might as well fire up a couple thousand "fake" $20's and I'll go to jail of course, but really where is the difference? Who gave the Fed the right to print "funny money" Oh Yeah WE DID!! LOL
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Jason Rasset
http://iamabullionaire.wordpress.com/ |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 01/05/2010 : 10:43:11
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Part of the reason for the resent climb of silver prices is that at the end of the year a lot of investors pull out of all investments to take a profit or loss for tax reasons. New year people get back in again. That may not the reason or only reason, but it is a theory.
Having said that, silver usually does well during the winter season and this year doesn't look to be an exception. Last I looked silver was over $17.80. |
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Think positive. |
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2old
Penny Pincher Member
188 Posts |
Posted - 01/05/2010 : 11:45:02
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| Regarding silver: There is no shortage of silver, it is overpriced and will drop like a rock someday. Regarding gold: It will hover around $1,000. for the foreseeable future. Regarding copper: You can not sort enough soon enough. IMHO! ;-) |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/05/2010 : 12:16:07
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| there is less silver than gold above ground, and silver unlike gold is consumed. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 01/05/2010 : 12:24:47
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| So how far do you think silver will drop, 2old? Don't you think the ratio for gold:silver is off right now? I think its about 63:1 currently. Historically, it has been 15:1, right? If gold stays at $1,000 like you said, silver would have to rise to the $60 range to get back to that historical ratio. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 01/10/2010 : 12:08:13
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"Historically, it has been 15:1, right? If gold stays at $1,000 like you said, silver would have to rise to the $60 range to get back to that historical ratio".
It WAS but not recently. It would be nice for some folks though.
If we are looking at ratios, consider the copper ratio too. I stole this fom somewhere a while ago (it may have even been here).
The US Mint obviously considered that copper was PM back in 1909.
A 1 cent coin is 1/10 troy ounce. And when they quit making 95% copper then
went to a new weight of 2.5 grams which has no relationship to troy or Av
ounces.
In 1909 100 cents was 10 troy oz and worth 1 troy oz silver.
20 troy oz silver was worth 1 troy oz gold
2000 cents (200 troy oz copper) = 1 troy ounce of gold.
So gold is way over priced or copper is way under priced.
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 01/10/2010 : 13:57:42
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it hasn't been at the 15-1 ratio for probably 100 years except briefly.
copper is used as money buts its value is predimantly determined by industry. so looking at a gold to copper ratio or silver to copper ratio is not likely to lead to reliable results. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Fatboy
Penny Sorter Member
USA
81 Posts |
Posted - 01/11/2010 : 06:21:32
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| True, it was posted just a a bit of history and "food for thought". |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 01/11/2010 : 06:27:22
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| I think that price will move sideway with a small trend upward. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 01/11/2010 : 09:14:27
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| 18.76!! |
And he that hath lyberte ought to kepe hit wel / For nothyng is better than lyberte / For lyberte shold not be wel sold for alle the gold and syluer of all the world.
-Caxton's edition of Aesop's Fables, 1484 |
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Thoughts about current move in PM prices
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