Gold and silver gonna fall some more?

[jim4silver]

I was looking at the dollar chart today, and it looks like there is more upside to me (I am by no means a chart expert, but I know the basics).

I have some extra money and I want to add to my PM positions, but I really think silver (what I plan to buy) could drop another buck or two (or three, etc.). I don't have alot of money so I want to get the most bang for the buck so to speak.

Long term (next 1-5 years) I am 100% bullish on PMs, but I think another correction is gonna happen (maybe a big one) before we see the launch to new highs in gold and silver.

Any thoughts?

Jim

 

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[nyiangelo]

I've given up trying to predict this stuff. Last correction a year or two ago the price was down to $12 oz. I bought two 100 oz bars then. Only for in the next two weeks after that for it to fall to like $9 oz. Sure if it goes down to $9 I'll buy all day long again. But I've kind of got a rule that I'll only buy for investment at the moment at $13-14 and below. But as far as collector goes, I usually just buy 90% when ever I feel like it.

I do agree that the price will go up sooner or later. With the USD it's kind of a catch 22 because believe it or not at THE moment other countries still see it as a safe investment. However, there's no FRIGGIN way we are gonna get out of this budget deficit with out defaulting or with inflation. Which PMs would be good to have in both those situations.

 

[jim4silver]

I've given up trying to predict this stuff. Last correction a year or two ago the price was down to $12 oz. I bought two 100 oz bars then. Only for in the next two weeks after that for it to fall to like $9 oz. Sure if it goes down to $9 I'll buy all day long again. But I've kind of got a rule that I'll only buy for investment at the moment at $13-14 and below. But as far as collector goes, I usually just buy 90% when ever I feel like it.

I do agree that the price will go up sooner or later. With the USD it's kind of a catch 22 because believe it or not at THE moment other countries still see it as a safe investment. However, there's no FRIGGIN way we are gonna get out of this budget deficit with out defaulting or with inflation. Which PMs would be good to have in both those situations.

Sounds like you got a good deal on the 100 ouncers. Even at 9 bucks though, the premiums were thru the roof then, at least where I live. I remember seeing 2 dollar plus premiums on generic bars and rounds. So even if the price drops this time to such lows, I fully expect to see the premiums go sky high again.

Right now the premiums are very low on generic silver. If I can get ounces of nice rounds and bars at the 13 to 14 level I will probably buy up as much as I can. I never buy 90% anymore because I can get a better deal price-wise on one ounce bars and rounds that are .999.

Even though gold and silver are falling due to whatever reason (the rising dollar, alleged manipulation, etc.??), if anything catastrophic happens somewhere in the world (such as new wars in the middle east like Iran), then I think PMs are gonna skyrocket.

I guess we might someday see if there really are the deficits in silver supply that some of the pundits have been preaching about for so many years. If demand does ever really heat up and the silver supplies are as low as some say, the price should go crazy high.

Jim

 

[nyiangelo]

Still falling. Wonder what the floor will be....

 

[thrillathahunt]

I think we are going to see a scenario similar to a couple of years ago with silver falling to around $11 or maybe even $10. That will be the leveling off point for the next run up.

But what do I know?

 

[jim4silver]

I think we are going to see a scenario similar to a couple of years ago with silver falling to around $11 or maybe even $10. That will be the leveling off point for the next run up.

But what do I know?

It is possible that the "paper" price will go that low. But I doubt anyone will be able to buy physical at that price. Last time it went that low the premiums went sky high. I may use a bit of "risk money" to get into SLV if prices drop that low. May be a good way to nearly double my money if the prices get back up near 20 again (which I think they will).

As long as the dollar keeps rising, gold and silver will drop I believe. Some European-area nations are having debt/money problems now it is being reported--Greece, Portugal, Spain, etc, and the Euro is dropping which is helping the dollar strengthen.

I don't see how the dollar can keep going up though considering how things are going here economically and with interest rates near zero?

Jim

 

[cyberdan]

I am hoping for a short rebound. I have 49.7 grams at the refiner now. When I sent it gold was almost 1100 now when it is time to write the check it is down to 1065. I put it on hold for now. They will refine and put in their safe till I call and yell SELL! With my luck it wil just keep dropping and then 1065 will sound good.

 

[placerman]

Gold and silver will rise quite a bit around the end of April, 2010.

Greece has @37 days to come up with a bailout plan, either through the EU or the IMF.

No matter what happens, it is going to spook people into PM's and you will see a short term, perhaps no longer than 4 or 5 days, rally in gold and silver at the very least.

 

[quiksilver]

With the possibility of certain events making PMs skyrocket I would dollar cost average by finding a place with a decent price and buying a little each month and if a big dip happens buy more. One thing is for sure with the way they are printing money, It will eventually be worthless.