Scottishmoney Posted September 6, 2007 Report Share Posted September 6, 2007 Gold has recovered from the lows of August, so has silver. There was a lot of news coverage when they went low, but now gold is nearing it's highs from early last year when it hit $730.00 oz. Why? Well all that cash pulled out of the credit markets, banks etc. had to go somewhere. Oil is up again, commodities will again be in the Bull market. Link to comment Share on other sites More sharing options...
dustin43160 Posted September 6, 2007 Report Share Posted September 6, 2007 im glad i dont buy gold...yet Link to comment Share on other sites More sharing options...
jtryka Posted September 7, 2007 Report Share Posted September 7, 2007 I noticed! There are rumors afoot that China has been liquidating treasuries and buying some gold, but again those are only rumors. Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 7, 2007 Author Report Share Posted September 7, 2007 I noticed! There are rumors afoot that China has been liquidating treasuries and buying some gold, but again those are only rumors. There was talk in China of doing just that in retaliation if the Congress imposed sanctions or restrictions on Chinese imports due to the tainted products scandal. Link to comment Share on other sites More sharing options...
thedeadpoint Posted September 7, 2007 Report Share Posted September 7, 2007 I read a few articles in the WSJ and NYT about creating portfolios that are less vulnerable to the recent pitfalls. They said dont invest in commodities like gold. Risk too big for the returns I think it said. (let the rebuttals start) Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 7, 2007 Author Report Share Posted September 7, 2007 Now is NOT the time to put your money in gold, the optimal time passed about 18 months ago. Too many people treat gold as a come and go investment, which it is not meant for. Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 7, 2007 Author Report Share Posted September 7, 2007 Breaking the $700 threshold this morning: GOLD 09/07/2007 08:52 704.00 705.50 +9.50 +1.37% Link to comment Share on other sites More sharing options...
LostDutchman Posted September 7, 2007 Report Share Posted September 7, 2007 man when it rains it pours around here.... i have bought 11 ounces this morning from people walking in... Link to comment Share on other sites More sharing options...
Art Posted September 7, 2007 Report Share Posted September 7, 2007 man when it rains it pours around here.... i have bought 11 ounces this morning from people walking in... Some quick profit-taking. It will probably increase as the price moves up. Link to comment Share on other sites More sharing options...
jtryka Posted September 7, 2007 Report Share Posted September 7, 2007 I think we will definitely surpass the 1980 highs, when that will be is anyone's guess, but there is way too much paper (or liquidity as they call it) sloshing around the world to keep prices this low. Other commodities are a little sketchy given their dependence on economic activity, if we go into a recession, commodities will suffer. Link to comment Share on other sites More sharing options...
LostDutchman Posted September 7, 2007 Report Share Posted September 7, 2007 im waiting for silver to catch up... Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 7, 2007 Author Report Share Posted September 7, 2007 The XAU ratio between gold and silver keeps going up up up, silver just can't seem to pull ahead. Link to comment Share on other sites More sharing options...
dustin43160 Posted September 7, 2007 Report Share Posted September 7, 2007 hmmm i have around 30 oz of silver i dont want to sell it but if silver gets too high what price do you think i should sell it at? Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 7, 2007 Author Report Share Posted September 7, 2007 You have to set your own holds(when to sell), it would depend on how much you paid for it, and how much you want to get for it. I have a couple thousand mercury dimes that I bought at melt when silver was $4.30 an oz. So anytime I sell it I am going to make a profit now, but I also have some silver, mostly bullion that I paid near what it is at now. Link to comment Share on other sites More sharing options...
dustin43160 Posted September 7, 2007 Report Share Posted September 7, 2007 well most of my silver is in kennedys which ive gotton in rolls so mostly face value and i have a few buffalo bullions and a few bars... which i paid abut the same as you did.. Link to comment Share on other sites More sharing options...
NumisMattic2200 Posted September 9, 2007 Report Share Posted September 9, 2007 Scottish, your avatar has just made my sides split - honest.... I feel like that guy does all the time! Link to comment Share on other sites More sharing options...
Capt-AWACS Posted September 23, 2007 Report Share Posted September 23, 2007 The US dollar will continue to sink (sadly for me getting paid in Dollars living in europe) so Gold will climb a bit longer. If, though i doubt they will, the Fed lowers USA rates another quarter to half point then gold will soar. After new years it will probably float through the US primaries and then wait on the Election to move again (big moves that is) Ciao, and Hook 'em Horns, Capt-AWACS, Io sono il capo di tutti capi Link to comment Share on other sites More sharing options...
Scottishmoney Posted September 23, 2007 Author Report Share Posted September 23, 2007 I am waiting for the foreign holders of Treasury bills to dump them back on the market, to the tune of 700 billion dollars worth. The effect on the dollar would be disasterous. All this coupled with the little trade war with China makes prospects for the dollar to be pretty dim. Link to comment Share on other sites More sharing options...
jtryka Posted October 11, 2007 Report Share Posted October 11, 2007 Broke through $750 today! Link to comment Share on other sites More sharing options...
TreasureGirl Posted October 11, 2007 Report Share Posted October 11, 2007 I am never going to get anything nice in gold... Link to comment Share on other sites More sharing options...
gxseries Posted October 11, 2007 Report Share Posted October 11, 2007 I hoarded about 40 oz of silver in that Moscow Olympics and the 4x5 oz 1987-88 medals when silver was under 7usd an oz. In fact, I bought them slightly over melt which included shipping. Heck, I even bought 1/2oz of platinum when platinum was way under 700usd. Should have bought more The only gold I ever bought was a 1/4 oz chervonets. Never liked gold for some reason - have more platinum or palladium than gold itself Link to comment Share on other sites More sharing options...
Blackhawk Posted October 11, 2007 Report Share Posted October 11, 2007 Cheerleaders for our economy keep talking about what a great thing Bernanke's recent rate cut was for the stockmarket, but the dollar has dropped what, maybe 7% against foreign currencies since then? The US dollar is now at about 97¢ Canadian. The whole stock market rally since 2000 was paid for with a dropping dollar which has lost 40-50% of it's value against foreign currencies in that time. I think that slowly but surely the smaller investors are finding out that they have been duped and are looking for better investments, making precious metals look pretty good for near future at least. Link to comment Share on other sites More sharing options...
Scottishmoney Posted October 11, 2007 Author Report Share Posted October 11, 2007 Actually Blackhawk, yes small investors maybe thinking that gold is a safe haven, but they are not driving these price increases, it is more like demand in India and China for security. Increased wealth in both of those countries has increased demand, which increases prices, couple that with the fact that S. African gold production is slipping. Silver is being outperformed by gold lately though, but last year silver had better profit margins in the early Spring. Lately Gold : Silver has been hovering in the 54:1 range, which still is too high. Link to comment Share on other sites More sharing options...
josie Posted October 16, 2007 Report Share Posted October 16, 2007 I wonder what is the value of gold and silver next year in spring and summer after this winter and another yearly inflation Link to comment Share on other sites More sharing options...
jtryka Posted November 2, 2007 Report Share Posted November 2, 2007 Over $800 today, closed up $15.80 at $806.00! Link to comment Share on other sites More sharing options...
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