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insurrection1517
Penny Collector Member
USA
262 Posts |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 03/19/2008 : 20:28:18
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| I heard on Nightly Business Report that the concern of the US going into recession is effecting the demand of commodities (US is the biggest consumer, less demand means lower price, or so goes the theory. The theory ignores the fact that China wants a new place to park its billions, so the Chinese are buying oil to fill their recently built oil tanks.) |
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Gresham
Penny Pincher Member
184 Posts |
 Posted - 03/19/2008 : 21:33:59
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| Mostly it is because the dollar index has been rising since then. It was at 70.6 at the low and now it is back to 72.25. |
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misteroman
Administrator
USA
2565 Posts |
Posted - 03/19/2008 : 22:35:05
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Isn't it pretty much based on the stock market in a way?It seems if the stock market goes down(which is also a sign of a weak dollar) the price of metals goes up and vise versa.
Derek |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/20/2008 : 09:57:49
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| Make no mistake; this is yet another buying opportunity. The U.S. has been dumping more money than we can imagine into the markets, and they have been forcing subjugated globalist nations (which at this point includes China) to do there biddings. The dollar is only being supported at this point, its fundamentals are still poor at best. PM prices will soon rise again, so I say buy more with a $16 floor on silver and $850 on gold). The rise in prices was a mere burp. The indigestion is still there, and the dollar will eventually fall again leading to rising PMs prices. Also, if you just keep buying PMs, you won't lose in the long run, as eventually the house of cards will fall for real. |
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 03/20/2008 : 15:37:31
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In this day of instant news and instant gratification, people make instantaneous decisions. A lot of people have also programmed computers to trade at certain levels.
Just watch the markets:
Friday -- Bear Sterns is bankrupt and the world is coming to an end. Sell stocks and but Gold.
Monday – The FED and JP Morgan has solved all the worlds problems things are great. Sell Gold and buy stocks.
Tuesday – The FED cuts rates even more. This is euphoria can the world get any better? Buy stocks, sell money.
Wednesday – The FED rates weren’t enough things are bad. Sell Stocks.
Thursday – The world is good the FED is running a great show. Gold is overbought sell quick before it goes down so far.
These are all instant and knee jerk reactions. Look at trends, look at fundamentals, and these will help you to know what is really going on.
One of the biggest herd instincts is to make the wrong choice every time. As soon as the news tells you that it is time to buy gold the price is about to drop. When the news tells you to sell gold, silver, copper, then is the time to buy. Right now the media is telling you to sell . . .
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Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 03/20/2008 : 20:08:07
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$16.79 seemed so very fine; I had to make 20 more oz. mine. You will see in due time, that this metal will continue to shine.
Hey, I try.
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CoinHunter53562
1000+ Penny Miser Member
USA
1805 Posts |
Posted - 03/20/2008 : 23:29:18
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quote:
Make no mistake; this is yet another buying opportunity. The U.S. has been dumping more money than we can imagine into the markets, and they have been forcing subjugated globalist nations (which at this point includes China) to do there biddings. The dollar is only being supported at this point, its fundamentals are still poor at best. PM prices will soon rise again, so I say buy more with a $16 floor on silver and $850 on gold). The rise in prices was a mere burp. The indigestion is still there, and the dollar will eventually fall again leading to rising PMs prices. Also, if you just keep buying PMs, you won't lose in the long run, as eventually the house of cards will fall for real.
My dad said the same thing to me tonight. He expects gold to fall a little more along with silver (he guestimated $15 silver, $800 gold) but said he expects a nice rebound and then some. He said not to be surprised if gold hit $1500 and silver in the $25-$30 range. If it hits $15 for silver, I may have to buy 100 ounces or so. |
My hobby: collecting real money 1 copper cent or nickel at a time.
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WilliamC
Penny Collector Member
USA
471 Posts |
Posted - 03/22/2008 : 05:23:08
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Sadly enough I've bought all the silver I can afford right now, and mostly at around $20 per ounce too.
Well, it's not like I'm looking to sell any time soon. And there's always more copper to be sorted and hoarded. |
Sorting In Northwest Mississippi |
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Gold + Silver Discussion/Plummeting as of 9 PM EST
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