$1,600 Gold in 75 Days

[legend76]

WOW!
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=15558

Here is a tidbit:
"I also think there is more than a 50 percent chance that silver will pass $30 by the end of this month. By the end of 2011, I would not be surprised to see the price of silver top $50."

HH,
Legend

 

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[FreedomUIC]

WOW!
http://www.numismaster.com/ta/numis/Article.jsp?ad=article&ArticleId=15558

Here is a tidbit:
"I also think there is more than a 50 percent chance that silver will pass $30 by the end of this month. By the end of 2011, I would not be surprised to see the price of silver top $50."

HH,
Legend

That would be nice for those with silver right now, but silver is almost 4.00 dollars off its high of 29 a week or so ago.

 

[jim4silver]

My favorite PM prognosticator is a fellow named James Sinclair. He offered a $1 Million bet back in 2008 that gold will reach $1650 sometime before the second week of January 2011. I don't think anyone ever took him up on it. I don't know if we will reach that level by Jan 2011 or not. He has a website that has gold/financial market commentary that is free and doesn't have any advertising of any kind, it is definitely worth reading each day. It is called Jim Sinclair's MineSet.

He has an interesting history in the commodity world. He was the one who was hired to help the Hunt brothers liquidate their silver position after all that stuff went down back in the early 80s. His dad was Bertram Seligman, who is known as one of the greatest traders in modern history (for some reason James was given his mother's last name at birth). Seligman had traded with and partnered with Jesse Livermore (often considered the greatest trader of all time) at times from what I have read.

Jim

 

[TheRandyMan]

Interesting article here for those who wish to have a second opinion on silver.

http://lewrockwell.com/north/north436.html

 

[SFBayArea]

Doubtful at this point.. George Soros just sold off a huge gold stake he had. Wonder what he thinks of silver. I remember Soros bought a lot of silver at $6.00 to $8.00/oz. years ago and now he can cash in.

 

[jim4silver]

Doubtful at this point.. George Soros just sold off a huge gold stake he had. Wonder what he thinks of silver. I remember Soros bought a lot of silver at $6.00 to $8.00/oz. years ago and now he can cash in.

Actually that is not completely true SFBayArea. I did some checking after you posted this and it appears that Soros sold some of his stake in the SPDR gold trust, but bought shares of iShares Gold Trust. The news article I saw did not mention how much was bought or sold, but it appears from what I read he simply sold shares in one ETF and bought shares in another ETF. I am just guessing from what I read.

Jim

 

[quiksilver]

The last time soros was talking bad about gold he was buying it . DONT TRUST SOROS

 

[legend76]

Interesting article here for those who wish to have a second opinion on silver.

http://lewrockwell.com/north/north436.html

It is an interesting article (but almost 5 years old), but I never really got his point. Is he advocating buying silver or gold? Or both?

 

[homefires]

Follks the Price of Gold is not going up. The price of Silver is not going up!

The Currency is taking a shit.

All Prices are going up.

Start here.

http://www.google.com/search?source..._enUS357US357&q=inflation+of+vegitable+prices
http://the-end-time.blogspot.com/2010/11/national-inflation-asociation-says-loaf.html
http://www.resistnet.com/forum/topics/national-inflation-association

 

[legend76]

Follks the Price of Gold is not going up. The price of Silver is not going up!

The Currency is taking a --deleted--.

All Prices are going up.

Start here.

http://www.google.com/search?source..._enUS357US357&q=inflation+of+vegitable+prices
http://the-end-time.blogspot.com/2010/11/national-inflation-asociation-says-loaf.html
http://www.resistnet.com/forum/topics/national-inflation-association

Well, no crap!!!
That's why people put money into precious metals, as a HEDGE against inflation. To preserve their money's purchasing power.

 

[jim4silver]

Follks the Price of Gold is not going up. The price of Silver is not going up!

The Currency is taking a --deleted--.

All Prices are going up.

Start here.

http://www.google.com/search?source..._enUS357US357&q=inflation+of+vegitable+prices
http://the-end-time.blogspot.com/2010/11/national-inflation-asociation-says-loaf.html
http://www.resistnet.com/forum/topics/national-inflation-association

I know that is the conventional wisdom, but I don't think it is entirely correct today. For example, gold was $250 in early 2000's, now it is over 5X that price. I don't think the dollar lost 80% of its buying power since the early 2000's. Instead I think it is the perception/prediction of a falling dollar/euro/etc that is causing institutional investors to turn to PMs, not necessarily the actual falling of the dollar itself. While the dollar index is down, it has been lower in the past and gold was not at $1300+ per ounce.

Joe Six Pack is nowhere near running to PMs yet. The average American has never held a gold coin in their hand let alone owned one. That is why this bull market is not near ending. When the kid bagging your groceries is talking about the gold/silver coins he bought or mainstream daytime TV shows start having specials about buying PMs, then it might be time to sell.

Jim

 

[minton7]

silver's all time high is NOT the 29 bucks mentioned in an earlier post.... look back inthe laste 70's to see the all time high

 

[FreedomUIC]

silver's all time high is NOT the 29 bucks mentioned in an earlier post.... look back inthe laste 70's to see the all time high

Different Circumstances then versus now. There is no comparison concerning the price of silver. $29.00 should be the all time
high. The Hunt brothers artifically inflated the price of Silver trying to corner the market.

 

[jim4silver]

silver's all time high is NOT the 29 bucks mentioned in an earlier post.... look back inthe laste 70's to see the all time high

Different Circumstances then versus now. There is no comparison concerning the price of silver. $29.00 should be the all time
high. The Hunt brothers artifically inflated the price of Silver trying to corner the market.

While I am not saying that I believe or disbelieve the below theory, it has been said by many well respected PM pundits that a few very large financial institutions have been artificially suppressing the price of silver by shorting amounts of silver in the futures markets that are so huge they cannot realistically be backed with enough physical metal to satisfy the contracts if all the long side holders demanded delivery.

If this were to be true, then it would be very similar to what you are claiming the Hunt brothers did, but in the opposite direction. Thus, if it were occurring now, then it would seem the real price of silver should be much higher than 29 bucks per ounce, wouldn't it?

Jim