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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
 Posted - 06/08/2010 : 08:30:53
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| there are some good posts by FOFOA (friend of a friend of Another) on his blog about central banks balancing their accounts through gold. tere could be a precing of gold to 10K or 100K. If that happens, it likely will impact gold more than silver. whether silver is pulled along and to what extent is questionable, because central banks dont really deal in silver. so while silver is a coiled spring right now, it is possible that the real action will be limited to gold. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 06/08/2010 : 16:46:34
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quote:
Originally posted by Lemon Thrower
there are some good posts by FOFOA (friend of a friend of Another) on his blog about central banks balancing their accounts through gold. tere could be a precing of gold to 10K or 100K. If that happens, it likely will impact gold more than silver. whether silver is pulled along and to what extent is questionable, because central banks dont really deal in silver. so while silver is a coiled spring right now, it is possible that the real action will be limited to gold.
Deep down I would rather root for silver over gold. The concept of its industrial uses appeals to me more than any metal's monetary safe haven. But in reality the world we live in now is more conducive for a rise due to a safe haven than for industrial need. Therefore, gold is sadly King...for now. |
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Think positive. |
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DoctorMetal
Penny Sorter Member
40 Posts |
Posted - 06/08/2010 : 16:59:50
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| I too, root for silver, as the common man's precious metal, to break out and finally reach its true value. It's undervalued right now, and I think, by rights, it ought to be trading at about 60 an ounce. Gold, on the other hand, I think is vastly overpriced these days. All one has to do is look around at all the We Buy Gold shops to see that there's some kind of crazy market markup going on. I own very little gold, but try to carry a 1:10 ratio with silver, which is hard to maintain because I am always tempted by selling gold at inflated highs. Price fluctuating makes my head spin. Stability is needed. |
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psi
Penny Collector Member
Canada
399 Posts |
Posted - 07/09/2010 : 20:50:34
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| I've generally had very limited money to invest in coins, so circulated silver is much more accessible/appealing to me than gold in any form. The premiums on small gold coins are a barrier as well but you do recoup that when selling. I recently sold my only gold coin for some spare cash and don't regret it a bit. If I had bought more when prices were lower, I would have more of an interest in maintaining a stake in gold, but even if gold hits $2000 tomorrow I'm not going to be kicking myself too much over a tenth of an oz. I'll never turn my back on copper and nickel but it seems finding a (local) buyer is much more of a challenge than with PM's. |
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Ant Redux
New Member
9 Posts |
Posted - 07/09/2010 : 23:41:54
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In the past, I preferred gold. Lately, I have switched to 90% and will probably continue that way for a while. Still keeping the gold, just not buying any more. I don't think it's overvalued -- I can't bring myself to pay the current prices when silver is readily available and is (IMO) undervalued.
Looking at the pros and cons of each metal, you'd think silver would come out on top, hands down, but I guess it's hard to buck several millenia of tradition. You win again, gold! *scowls and shakes fist in air* |
"They don't think it be like it is, but it do." -Oscar Gamble |
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Sheikh_yer_BuTay
Penny Pincher Member
USA
232 Posts |
Posted - 07/13/2010 : 03:28:37
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There is an economics prof. I enjoy reading, Prof. Antal Fekete, who once said:
"IF you must go a long distance, buy gold.
IF you must go a long time, buy silver."
When I am flush with cash - gold (NOT very often)
Most of the time - silver
When I am broke - copper pennies
I like silver the best, ever though it is always a wild ride.
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argent_pur
Penny Sorter Member
78 Posts |
Posted - 07/14/2010 : 00:59:46
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| Despite my cyber-moniker, I'm a gold guy (pausing for jeers, snickers, boos, hisses, and other such mockery)...I buy silver on occasion for its profit potential, but gold is my bedrock. The allocation varies somewhat but is usually in the neighborhood of 90/10 - Au/Ag. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 07/14/2010 : 06:38:20
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quote:
Originally posted by Ardent Listener
quote:
Originally posted by Lemon Thrower
there are some good posts by FOFOA (friend of a friend of Another) on his blog about central banks balancing their accounts through gold. tere could be a precing of gold to 10K or 100K. If that happens, it likely will impact gold more than silver. whether silver is pulled along and to what extent is questionable, because central banks dont really deal in silver. so while silver is a coiled spring right now, it is possible that the real action will be limited to gold.
Deep down I would rather root for silver over gold. The concept of its industrial uses appeals to me more than any metal's monetary safe haven. But in reality the world we live in now is more conducive for a rise due to a safe haven than for industrial need. Therefore, gold is sadly King...for now.
ardent, may i respectfully suggest that your thinking is backwards. the real price improvement will come from investment demand for pms from central banks. they'll go for gold first. the fact that industry consumes silver, and that there may be less silver above ground than gold (per Ted Butler), ironically makes silver less useful as a monetary metal. yes, the industrial demand for silver may increase at a faster rate than for gold, but its the investment demand rather than the industrial demand that will really move the needle.
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Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
Posted - 07/14/2010 : 11:41:44
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it's really a tough call, isn't it? Of course I'm rooting for silver, since that's where I have 90% of my assets, but if gold shoots to the moon, I won't complain.  I still think silver will outperform gold, but it will probably be gold that will make the first significant move. Silver's catch up and pass move might take a year longer to develop after gold becomes unaffordable for the masses. |
Hoard now and hold on!
http://coppermillions.blogspot.com/
http://wherewillyoubein2012.blogspot.com/ |
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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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Which would you pick Gold or Silver and why?
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