Nickel getting hammered also. Gold and Silver as well.
This is good IMO for those of us with a long term view toward hoarding as it keeps the general public from getting interested if the metals cool off a little.
As far as the precious metals I believe a buying opportunity maybe be coming
"Speculation sell off to take profits in the metals". - CNBC
Why do so many of us who speculate about the price of metals have such a hard time understanding that this game is about speculation?
We may be long term in our approach but that does not mean others are.
I agree with you. This will take some of the steam off many would be hoarders. It also gives the rest of us more time. Time is money.
The prices will come back for the PMs and the base metals. But right now I feel better about putting my money into nickels and/or pennies than silver or gold. That's just me though. All you others do as you see fit- as always.
...The prices will come back for the PMs and the base metals. But right now I feel better about putting my money into nickels and/or pennies than silver or gold...
I agree with you. I think Cu and Ni are great right now. I am still buying some silver, slowly, right now, but no gold at the moment. If silver keeps dropping I will up my purchases.
I am continuing on my plan regardless of market prices right now. I like the Cu/Ni as I can buy at face value and essentially have an immediate built-in profit. I am so bullish on Silver, but I cut back on that due to the ease and low-pricing or pennies. Plus I am tired of scrounging for 'value' priced silver, I just needed something a little easier to acquire for the time being.
“Ultimately, the Fed can flood the system by buying any kind of asset, or even dropping bank notes from helicopters" -Fed Chairman Ben Bernanke
Insane metals trading
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Posted - 06/01/2006 : 08:48:40
Posted - 06/01/2006 : 10:12:36
