Actually, I think I will just get some credit based on my gold/silver and use that...I am not gaga about selling gold for the reasons you mentioned. I will just have to have some reserves in case of the old 'margin call' if these metals keep falling...lol.
if you are interested in trading silver and gold on the fluctuations then perhaps you should also own some paper gold or silver ( GLD and SLV) not long term of course but just to trade and make some quick profits when prices either get ahead of themelves or fall like a rock as they have now!
Paper gold and silver? Do you mean: http://finance.yahoo.com/q?s=SLV http://ca.finance.yahoo.com/q?s=GLD
Sorry - I edited my previous post. Do you mean: http://finance.yahoo.com/q?s=SLV http://ca.finance.yahoo.com/q?s=GLD
yes...they are very liquid and if you have a discount broker then the commission is quite low and you usually get close to spot price either buying or selling. I peronally dont bother as I am quite happy with buying puts but SLV is quite volatile like the real silver and if you buy low and sell high each time the price fluctuates you can make money!
no problems just remember...the silver and gold you buy for the long term should be the physical...the silver and gold you just want to speculate on a quick buck then paper silver and gold are better as they are more liquid!
Silver closed for the weekend at $29.90...down 57 cents (just under 2%). http://silverprice.org/silver-price-history.html
seems 30 dollars is the floor....anybody that believes silver will go to 20 dollars is sadly mistaken!
Today it lost a ton before recovering some. Right now it sits at $30.07, down 68 cents (about 2%). http://silverprice.org/silver-price-history.html I am still not convinced that $25-$26 is out of the question. The Fed today seemed to pooh pooh any talk of an immediate QE3. And most western governments do not seem to have the stomach for FAR greater stimulus. Even the ECB (European Central Bank) seems less then eager to throw as much money around as they did a few years ago. And China is having more and more problems it seems. There is talk of massive underground lending going on at up to 40+% interest rates for normal goods/services. I still think the economy is going to tank. And when it does, people have shown they will throw their money into US dollars..which kills the price of gold/silver. I think Marc Faber is right. I think once the S&P hits about 950-900..then the Fed will act and release QE3...probably not before. But...I AM NO EXPERT.
as I said many times......silver will fall with the rest of the markets.....but......for silver to fall to 20 dollars means all hell is breaking loose and many bank failures along with some insurance companies....I am calling Bernacke's bluff and say he will annouce QE 3 eventually! PS as for 25 dollar silver? Perhaps it will go there far a few days but always bounce back!
I do agree that QE3 is inevitable and that even if silver does fall to $25 that it would start to rebound as soon as QE3 is announced - not that you do not already know that. I am just playing for the crowd...lol.
^^^^^ it could be for all sorts of reasons...short covering, less volume, even perhaps a few big players in silver today. I wouldn't worry too much about day to day moves!
I figured something like that myself. I wasn't worried so much as curious. There must be a reason and I just wondered what it was.
Did you ever pickup some gold investment? The price looks great, don't it? As you predicted, you can make a fortune on gold.
Yes, I definitely agree...it does look great. Though right this second I feel better about silver in the short term and gold in the long term. Actually, I am into both silver and gold at about a 2:1 ratio. Not that I am recommending that ratio to anyone...I just see more of an upside (and potential downside) in silver. Gold is more solid. But as I have said many times...I AM NO EXPERT.
By the Way - silver is up 7.2% over the last two days. I am not AT ALL saying it means anything. I am just sayin'... Personally, I still feel like it's going to drop a ways more. Part of me hopes it doesn't (the part that owns silver) and part of me hopes it does (the part that is trying to arrange money to buy more when/if it drops more). But what do I know...I am NO expert.
it all depends on what Bernacke does in the coming months......no QE and yes silver will keep falling along with gold.....but it also means a collapse in the markets is looming as I said in another thread. Sooner or later QE must be announced.....or get ready for armagedon!