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re: Gold...why is it down?
Posted on 2/20/13 at 11:28 am to goodgrin
Posted on 2/20/13 at 11:28 am to goodgrin
I'm copying my post from another thread...
The US dollar has been in a nice uptrend, which doesn't help PM prices.
1500-1550 is the first level of support for gold, with 1400 being the second (and last IMO) support for gold bulls.
In silver 26 should hold if we are still in a silver bull, though 28 should provide support.
As far as metals go, the one I like the most at the moment is platinum. Big time supply issues with south africa mining problens and Chinese auto sales (combined with government crackdown on the cars having effective catalytic converters) increasing demand could set up an explosive scenario.
Main reason is the US Dollar has been going up pretty well. The Japanese Yen and Euro are going down which is driving the dollar up.
The US dollar has been in a nice uptrend, which doesn't help PM prices.
1500-1550 is the first level of support for gold, with 1400 being the second (and last IMO) support for gold bulls.
In silver 26 should hold if we are still in a silver bull, though 28 should provide support.
As far as metals go, the one I like the most at the moment is platinum. Big time supply issues with south africa mining problens and Chinese auto sales (combined with government crackdown on the cars having effective catalytic converters) increasing demand could set up an explosive scenario.
Main reason is the US Dollar has been going up pretty well. The Japanese Yen and Euro are going down which is driving the dollar up.
2
Posted on 2/20/13 at 11:34 am to LSU0358
Is Silver a good buy at this price?
Currently at 28.66
I bought a bit at $30.10 a few weeks back, trying to decide whether to load up.
Currently at 28.66
I bought a bit at $30.10 a few weeks back, trying to decide whether to load up.
Posted on 2/20/13 at 2:06 pm to LSU0358
quote:
As far as metals go, the one I like the most at the moment is platinum. Big time supply issues with south africa mining problens and Chinese auto sales (combined with government crackdown on the cars having effective catalytic converters) increasing demand could set up an explosive scenario.
I think Platinum is going to do well too. But, it doesn't interest me as much as gold and silver. It's still mostly an industrial demand based metal.
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