Any reason precious metal stocks are nose diving? | TigerDroppings.com

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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
39577 posts

Any reason precious metal stocks are nose diving?


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.







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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
5664 posts

re: Any reason precious metal stocks are nose diving?


LINK





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Catman88
LSU Fan
Baton Rouge, LA
Member since Dec 2004
39577 posts

re: Any reason precious metal stocks are nose diving?


Ok so basically a bunch of currency manipulation.





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ThaBigFella
LSU Fan
baton rouge
Member since Apr 2006
2043 posts

re: Any reason precious metal stocks are nose diving?


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






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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
81249 posts

re: Any reason precious metal stocks are nose diving?


It probably has something to do with me buying a bunch of silver coins about a month ago......







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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
29988 posts

re: Any reason precious metal stocks are nose diving?


You're back!





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LSU0358
LSU Fan
Member since Jan 2005
5167 posts

re: Any reason precious metal stocks are nose diving?


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.






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