Gold is $1415 down 4.25% so far this morning
Silver is $24 down 7.24% so far this monrning
Could be a conspriacy
It has gone down even more. Space aliens must secretly be coming to earth and flooding the markets with gold and silver because I don't see other reasons why they should be going down this much
<blink>$23.57!!!!!</blink>
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process. Rabbi Lapin: "Let's make bricks!" Stephan Kinsella: "Say you and I both want to make a German chocolate cake."
This must mean we have an economic recovery. Thank goodness for Obama and Bernenke
I wonder if the crash in metals is an ominous warning that a crash in stocks is coming. The Dow has been following a similar pattern to gold in the last 3-4 years.
DanielMuff: I am thinking of diving into it. Any thoughts?
I am thinking of diving into it. Any thoughts?
Questions you might wish to consider:
1] Would you be "diving into it " with money you could afford to lose, or money you cannot afford to lose?
2] Do you have a clearly defined bail out point in mind? - that is, a a price that would be a certain percentage below your buy-in price [whatever that might be], and at which point you would "eat" your loss and get out? [ the best way to do this is to have an automatic "stop loss" which would kick in as soon as the agreed on floor was reached, set via a broker.]
regards, obf
For more information about onebornfree, please see profile.[ i.e. click on forum name "onebornfree"].
"the best way to do this is to have an automatic "stop loss" which would kick in as soon as the agreed on floor was reached, set via a broker.]"
You should own physical silver
What Jargon said:
Those interested in the metals market might be interested to hear about this guy: http://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower) I think it would be a mistake to presume that big banks can't throw their weight around in small markets, especially if they're acting in concert and employing trading algorithms.
http://en.wikipedia.org/wiki/Andrew_Maguire_(whistleblower)
I think it would be a mistake to presume that big banks can't throw their weight around in small markets, especially if they're acting in concert and employing trading algorithms.
<blink>$22.09!!!!!!</blink>
gravyten577: You should own physical silver
Of course. The question is: how much of the wealth you cannot afford to lose should be allocated to silver? 100%? 50%? 25%? 10%? 5%?
For example, if you put 100% of the wealth you cannot afford to lose into silver [or anything else for that matter], you would be speculating [i.e. placing a bet, gambling, with money you could not afford to lose], that a certain economic condition that benefited silver [or whatever else you had put 100% of your money into] _must_ occur in your lifetime.
regards obf.
Good luck to anyone if they are looking for silver to buy. Might be hard to find