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Ardent Listener
Administrator
USA
4841 Posts |
 Posted - 03/30/2010 : 12:34:07
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On CNBC today there was talk that there are indications that money was starting to move out of gold and into copper. Take it with as may grains of salt as you like but interesting if true.
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 03/30/2010 : 12:41:04
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| Hot money always flows into the momentum trade. COPPER is hot and is attracting money flow. GOLD and SILVER are moving sideways without momentum currently. Sometimes it's best to BUY what's out of favor, and SELL when the hot money wants to BUY. Maybe COPPER is too hot right now, and one should be buying SILVER and GOLD ahead of the hot money that will flow into these PMs later in the year? |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/30/2010 : 13:05:38
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quote:
Originally posted by Country
Hot money always flows into the momentum trade. COPPER is hot and is attracting money flow. GOLD and SILVER are moving sideways without momentum currently. Sometimes it's best to BUY what's out of favor, and SELL when the hot money wants to BUY. Maybe COPPER is too hot right now, and one should be buying SILVER and GOLD ahead of the hot money that will flow into these PMs later in the year?
Maybe so, I really don't know. Speculators will move into any commodity that they feel they can make a quick profit on. Copper or pork bellies it really doesn't matter to most of them.
But copper has often been used to take the pulse of the ecomomy. By no means do I consider the rise in copper prices as proof we have turned the corner in the recession, but money movement into the industrial metals, precious or not, could be a sign that many may be thinking so.
In any case it is encouraging to see the base metals, especially copper, start to come back to life. |
Realcent.forumco.com disclosure. Please read.
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
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JobIII
1000+ Penny Miser Member
USA
1507 Posts |
Posted - 03/30/2010 : 16:10:54
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Now if only all this momentum could carry copper cent sales above non-existent...  |
Selling Copper cents. $0 FV available at 1.4xFV. Also interested in trading for wheat pennies and other coins Please pm me for requests or inquiries.
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 03/30/2010 : 16:11:19
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quote:
Originally posted by fasTTcar
Nickel is smoking again at $11 per pound.
I think it was Davide Morgan who recently predicted it was the next metal to make a big run up. |
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CNBC: Indications $s moving out of gold to copper
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