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AGgressive Metal
Administrator
USA
1937 Posts |
 Posted - 06/03/2009 : 00:23:44
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Its a little after 1am EST and I checked kitco. Silver at $16.13! WOOOOOOOOO Gold at $988!
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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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Nickelless
Administrator
USA
5580 Posts |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 06/03/2009 : 06:13:58
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quote:
Originally posted by Nickelless
Are PMs up or is the dollar just deeper in the crapper?
Yes, hehe....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 06/03/2009 : 06:58:42
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| I would say it is a lot of both. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/03/2009 : 10:26:49
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Back below 16 again. Booo.
And yes, the dollar index was trading in the 78-79 range. In the words of The Mogambo Guru: "We Are Freaking DOOMED!!!" |
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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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/03/2009 : 10:45:09
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Silver's never been nice to me.
15.50-15.54 -46 =( |
Trolling is an art. |
Edited by - Neckro on 06/03/2009 11:12:21 |
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aloneibreak
Penny Hoarding Member
USA
672 Posts |
Posted - 06/03/2009 : 12:58:37
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of course it would go up....
within a few weeks of having the major bills paid off. oh well. |
My reading of history convinces me that most bad government results from too much government.
Thomas Jefferson
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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/03/2009 : 13:02:09
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| I thought silver was going to breakout last night when spot was over $16. The $15.75 level is still resistance for silver on the upside. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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simplicitycounts
Penny Hoarding Member
USA
535 Posts |
Posted - 06/03/2009 : 13:27:58
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| Had to say something didn't ya, the second you said $16.00 it went crashing down to $15.25 :) |
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fb101
Administrator
USA
2856 Posts |
Posted - 06/03/2009 : 16:41:02
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That lasted about as long as a chocolate cake at a weight watchers convention.
OK, seriously, It's been a good run, a pullback was in order.
I;ve got a chart that tells me there's likely strong support for silver around $14.40 |
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Edited by - fb101 on 06/03/2009 16:42:25 |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/03/2009 : 16:51:03
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I knew it was gonna pull back.
The only time I like to see it high is when its time to sell. And I have no plans to sell anytime soon.
I do like to see it go up every now and then. makes me feel good when I figure out what my silver stash is worth at 16/oz. |
You don't have to be the BEST you just have to be.......SLICK
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Nickelmeister
Penny Hoarding Member
Canada
588 Posts |
Posted - 06/03/2009 : 17:07:31
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Silver is down about 4%, but the USD is up about 3% (at least relative to the Canadian dollar).
It's not silver that pulled back per se, just the USD made a little surge internationally. |
www.WinnipegGoldBuyer.com
Standing offer for sale of quality, second-hand solid gold jewellery:
<$100 USD worth - spot +25%, plus actual shipping
$101-500 worth - spot +20%, plus actual shipping
$501-1,000 worth - spot +15%, plus actual shipping
$1,001+ worth - spot +10%, plus actual shipping |
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fb101
Administrator
USA
2856 Posts |
Posted - 06/03/2009 : 17:49:59
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According to this traders blog
You must be logged in to see this link.
it's time to get out of long gold positions even though they're still negative on the dollar.
I assume silver is the same although they don't mention it.
The dollar chart on this site looks like it is in short term oversold and due for a small rally.
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/03/2009 : 18:08:33
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Trolling is an art. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/03/2009 : 21:14:29
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quote:
Originally posted by fb101
I;ve got a chart that tells me there's likely strong support for silver around $14.40
I've got a mental chart that tells me there will be strong support at $25 after Obama is done with our dollar |
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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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 06/03/2009 : 21:21:24
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the metals have been showing tremendous strength recently. I wouldn't be surprised if this dip is only ver short lived.
There's periods where silver trades very listlessly for a long time. This isn't one of them. I think it's breaking to the upside, at least for the medium term.
A lot of strength is coming from asia as well. |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 06/04/2009 : 12:38:45
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Silver at 15.88
should have bought yesterday |
You don't have to be the BEST you just have to be.......SLICK
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ScottyTX
Penny Hoarding Member
USA
508 Posts |
Posted - 06/04/2009 : 15:36:35
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Grrrr, just made a deal today for 20 .999 10 oz bars silver at spot. Would have been nice to have gotten them from the guy yesterday at 15.25. Oh well, I'm hoping it keeps going up!!!
Scotty |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/04/2009 : 17:10:30
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quote:
Originally posted by ScottyTX
Grrrr, just made a deal today for 20 .999 10 oz bars silver at spot. Would have been nice to have gotten them from the guy yesterday at 15.25. Oh well, I'm hoping it keeps going up!!!
Scotty
In the long-view, silver is cheap. If roughly 0.86 ounces of silver equally one dollar in 1913, and the dollar is only worth 2-3% of what is was when the Federal Reserve came into the picture, then silver should be $40 or $50. Also, $980/50 = 19, more or less the traditional gold to silver ratio. The problem is that the silver market is so small that it is easily suppressed by paper trading. |
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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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 06/04/2009 : 17:50:25
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I agree, try to look forward, not back.
my last large purchases were made in march. At the time, I thought the items were overpriced and I had doubts about it being a good investment
Fast forward 3 months and:
10toz silvertownes for $142 each, apmex now selling for $175
10toz wsms for $151 each, apmex now selling for $176
10toz engelhard for $156 each, apmex now selling for $187
10g gold bars for $307, apmex now selling for $337
I dont claim to know what the market will do. The only people that can claim that are fools or insiders. But if I was a betting man, I'd put my money on silver rising higher from $16 over it declining in price.
P.S. I shouldnt have bought those crappy WSM bars. I should have just went with the cheapest bars. Live and learn.
Edit: typo |
Edited by - buyingsilvers on 06/04/2009 18:16:39 |
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Neckro
1000+ Penny Miser Member
Saudi Arabia
2080 Posts |
Posted - 06/04/2009 : 17:59:26
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| I refuse to pay apmex's bloated prices. |
Trolling is an art. |
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AGgressive Metal
Administrator
USA
1937 Posts |
Posted - 06/04/2009 : 18:05:17
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quote:
I shouldnt have bought those crappy WSM bars. I should have just went with the cheapest bars. Live and learn.
I screw up like that sometimes. The way I look at it: Better to make mistakes with 5 or 10 ounces now when I'm a 25 yr old broke student then make mistakes with 1000 ounce contracts when I'm a 45 year old investor.
For instance: NEVER DEAL WITH COAST TO COAST COINS! Their prices seem reasonable until you realize that half their inventory is cleaned coins masquerading as AU or BU coins. |
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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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 06/07/2009 : 12:10:21
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Where do you see silver prices hitting in 6 months to a year?
Personally, I think we are going to go into major inflation and that should definitely make the metals shoot up in value.
However, I asked both a local coin store owner and a guy who often sells silver on ebay and both told me that they did not see silver pushing much higher than the high teens. Neither one seemed concerned about inflation and stated our economy is pretty resiliant.
I just don't see how we are not going to hit some major inflation with all this money being spent and printed.
I keep telling people to get their disco shoes and disco balls out; here we go back to the 70's |
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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Publius
New Member
USA
20 Posts |
Posted - 06/07/2009 : 14:03:15
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| I wonder if they took into account the dollar losing value, rising crude prices, and higher commodity prices. I'm not an expert at all in this area, but even I see how bad things are getting. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 06/07/2009 : 14:08:40
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Hard to tell what is going to happen. So many cross currents of speculation going on in the commodity markets. Just stay the course on your long term PM holdings; add when you preceive something is a good deal.
It is very difficult to speculate in PMs. However, right now PMs are inverse correlated to the $USD and seem to appreciate only if the dollar index falls. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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Silver hits $16
Forum Locked
