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Started By
Message
Any reason precious metal stocks are nose diving?
Posted on 2/20/13 at 9:38 am
Posted on 2/20/13 at 9:38 am
GLD and SLV seem to be in a freefall the past week. Right now Im looking to buy SLV at 27.50. But may pull the trigger earlier though.
This thread is not for discussion of paper vs coin.
This thread is not for discussion of paper vs coin.
3
Posted on 2/20/13 at 9:39 am to Catman88
Posted on 2/20/13 at 9:45 am to Jwodie
Ok so basically a bunch of currency manipulation.
Posted on 2/20/13 at 9:46 am to Jwodie
bc the US is printing trillions of dollars and that lowers the value of silver..... 
keep buying silver
the reality is the returns have been so good in the market recently more people are dumping pm's and getting back in the market, I think everyone should have 5-10% of their portfolio in PM
keep buying silver
the reality is the returns have been so good in the market recently more people are dumping pm's and getting back in the market, I think everyone should have 5-10% of their portfolio in PM
Posted on 2/20/13 at 9:50 am to Catman88
It probably has something to do with me buying a bunch of silver coins about a month ago......
Posted on 2/20/13 at 10:00 am to LSURussian
You're back!
Posted on 2/20/13 at 10:00 am to Catman88
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.
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.
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