Gold and silver prices for this coming week

[jim4silver]

I predict that the fed bailout plan will be passed early this week which will cause the stock market to rally. This rally will not last forever, but will cause the sheep to think all is well and to continue trading. I think gold and silver will go down a bit, and eventually go to the moon.

If I am right, I will use this as an opportunity to add to my positions. With the premiums on silver so high, I may consider getting gold. Ten ounce silver bars where 170+ on Saturday at local stores. That is ridiculous as far as premiums go. I can get gold with a more reasonable premium now.

Anyone have any ideas on this?

Jim

 

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[BBcardsRI]

Stocks went bloop! today in light of the failure to pass the plan. Silver was stagnant and Gold had moderate gains.

Gold has been more reliable than silver for a while now, but both should be on the up, so buying either is a good idea.

Its been shocking to me personally how stagnant silver has been lately in light of everything... I can't begin to try and reason it out.

~Dave

 

[jim4silver]

Stocks went bloop! today in light of the failure to pass the plan. Silver was stagnant and Gold had moderate gains.

Gold has been more reliable than silver for a while now, but both should be on the up, so buying either is a good idea.

Its been shocking to me personally how stagnant silver has been lately in light of everything... I can't begin to try and reason it out.

~Dave

I guess that Congress wants to act like they are doing what their constituents want for a while. From what I have read, 90% or more of us are against the "bailout", and many have been emailing and calling their elected leaders to tell them how they feel.

Something will be passed eventually though I have no doubt. When it does pass, the market will go up as quickly as it went down today. Silver and oil are both down, but gold is up because many are racing into it as a "safe haven" according to reports.

I don't think as many people consider silver as a "safe haven" even though it should be as much as gold. If some bill is passed gold will go down along with silver. But after the euphoria evaporates they will go back up and in time (6 months to 2 years) will make current prices look dirt cheap.

I believe that while all this debate and stuff is going on with the bill, the fed is lending billions and billions to banks. In fact, they have recently lent almost as much as the 700 billion amount of the bill (see below link). But it is different because the loans have to be repaid in theory, while the bailout is us buying bad investments from the institutions.

I am thinking of playing SLV a bit if silver gets back into the 11-12 dollar range. That way I can play the dips without getting hit with the super high premiums for physical silver.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ahwz_k5JvuB8&refer=home

Jim

 

[BBcardsRI]

A LOT of people aren't happy with this thing.

The House website crashed because so many people were going to it to get voting results and contact information, and other sites hosting the same info are also down to too much activity.

Then you have the "voterbomb" thing and the countless small sites calling for all those who voted in favor of the bill to be voted out.

Interesting times... and an even more interesting election now.

~Dave