The Gold and Silver Thread

[miller]

Gold will make a new high. The global economy will continue to drive commodities. Crude oil will also make a new high. We just saw Corn, Wheat, Cotton, & Copper have all just made new highs. Prices do not go in a straight line but they are consistently making new highs. BUY THE DIPS! The US dollar is done by 2020. $113 Trillion in unfunded liabilities. Then you have huge problems in 38 US States. CYA!!!

I'd be willing to say the dollar is gone by late 2012 or 2013. If I'm wrong, then good for everyone.

Kiss the dollar good bye now. Bernanke has guaranteed the destruction of the dollar. He is not only incompetent he is delusional. For a quick profit see this analysis.
Screwed Again: GOLD OPPORTUNITY

 

[Mini 14]

While we continue to beat the daily ebb and flow of precious metals here (and I thoroughly enjoy it, as we have some excellent insight in this thread), anyone not buying to hold long-term is sealing their own fate. It isn't a question of "when" gold, silver, and the other precious metals will rise, it is only a question of how quickly.

I wouldn't want to make a living day-trading gold and silver, the moves are simply to dramatic and too unpredictable, and anyone who says they have it figured out hasn't been in the game very long. But long-term holdings are EASILY the smartest transactions I've ever made. I bought at historical highs several times over the past 3 years, and I'm still rolling in the profits.

Day-to-day......you got me......

But buy-and-hold is a no brainer.

 

[miller]

Gold and silver may be putting in a top here, at least in the near-term. Both have reversed intra-day, and the stocks of the gold and silver companies appear to be acting in classic topping fashion. Also, even though silver hit new highs, gold did not, and there is significant resistance at the $1430 level.

There are significant buy stops at $1429. Get me long at $1413 right now because they will hit those stops by Friday afternoon in time for weekend margin calls.

See this: Screwed Again: GOLD OPPORTUNITY

 

[Toro]

I would like to see a pullback in gold to the $1380 level then another assault on the highs. I'd be in heavily then.

 

[william the wie]

I would like to see a pullback in gold to the $1380 level then another assault on the highs. I'd be in heavily then.

Understandable but gold and even more so silver with its greater industrial uses is becoming less predictable every year and month. You may be on the sidelines during a major move with that provisio. Chasing a meltup can hurt.

 

[Toro]

Both gold and silver got hit pretty hard when rumours that Gaddafi had been shot began to circulate, as did oil. Interestingly, when the State Dept said that they had no news of Gadaffi being killed, precious metals and energy did not recoup their losses. Both gold and silver are bouncing a bit in the evening sessions but this panic buying has been driven by fear. When fear leaves the market, I think you could see a significant reversal. I have taken a small short position in silver that I will cover if I am stopped out. We may have seen at least a near-term top in the complex given the huge intra-day reversals, especially in oil, as the panic buying may have ended. It should be noted that I have been very unsuccessful trading silver on the short side.

 

[Trajan]

I am sorry but I have to say, I have no issue with pulls backs ala nervous profit takers....I am ready to jump if my chicken shit number is breached......A friend (here) and I spoke 2 years ago about gold, I told him I had just took the plunge...at $998. Next to a 89' Amgen buy at $55, this will be the best move I have ever made.

 

[KissMy]

I took profits in oil & gold today as well. If this civil war ends these fear induced prices will pull back. I plan to buy back in the week of March 11, 2011 because a "Day of Rage" in Saudi Arabia is planned for that date. I don't believe the Saudi people are as pissed off at their leaders as these previous countries were, but I am not going to sit on the sidelines if that country explodes. I am going to be in Oil, Gold & Silver.

 

[Toro]

I took profits in oil & gold today as well. If this civil war ends these fear induced prices will pull back. I plan to buy back in the week of March 11, 2011 because a "Day of Rage" in Saudi Arabia is planned for that date. I don't believe the Saudi people are as pissed off at their leaders as these previous countries were, but I am not going to sit on the sidelines if that country explodes. I am going to be in Oil, Gold & Silver.

CNBC reported today that the King of Saudi Arabia returned with great jubilation.

From what I am hearing and reading, it is unlikely that the kingdom will explode.

 

[KissMy]

I took profits in oil & gold today as well. If this civil war ends these fear induced prices will pull back. I plan to buy back in the week of March 11, 2011 because a "Day of Rage" in Saudi Arabia is planned for that date. I don't believe the Saudi people are as pissed off at their leaders as these previous countries were, but I am not going to sit on the sidelines if that country explodes. I am going to be in Oil, Gold & Silver.

CNBC reported today that the King of Saudi Arabia returned with great jubilation.

From what I am hearing and reading, it is unlikely that the kingdom will explode.

The Kings people may have been showing great jubilation. The revolutionist will remain quiet & out of sight until the time comes to riot otherwise they would be hunted down & killed. You can't always trust what is coming out of these countries. The Gaddafi was Shot rumor & we killed Bin-Ladin in the mountains mistake are proof of that. How do we know how many & how organized the revolutionist are if they operate in complete secrecy. If you wanted to join a revolution you would not tell anyone until the time came to act.

 

[LordBrownTrout]

While we continue to beat the daily ebb and flow of precious metals here (and I thoroughly enjoy it, as we have some excellent insight in this thread), anyone not buying to hold long-term is sealing their own fate. It isn't a question of "when" gold, silver, and the other precious metals will rise, it is only a question of how quickly.

I wouldn't want to make a living day-trading gold and silver, the moves are simply to dramatic and too unpredictable, and anyone who says they have it figured out hasn't been in the game very long. But long-term holdings are EASILY the smartest transactions I've ever made. I bought at historical highs several times over the past 3 years, and I'm still rolling in the profits.

Day-to-day......you got me......

But buy-and-hold is a no brainer.

Same here. I bought silver at lows and am hanging in for the long term. I'm not savvy when it comes to buying and selling on dips. I'll probably make one more push while silver is still in the thirties. I could easily see it reaching 50, 70 an ounce by the end of the year, possibly a hundred by the end of next year. The negative part of that is that things are going to be bad.

 

[KissMy]

If you are investing in oil watch out for the companies who signed contracts with fallen leaders.

Big Oil companies have signed around $50 billion in deals with Muammar Gaddafi over the next few decades. A post-Qaddafi regime could reject these deals and worse.

•Eni signed a 10-year $28 billion investment deal in 2007, with oil and gas supply contracts through 2047

•BP signed a $900 million production contract in 2007, with exploration rights in a massive offshore field. BP is expected to invest $20 billion over two decades

•Exxon paid $97 million for exploration rights in 2008, with a $72 million signing bonus and $25 million in educational scholarships

 

[Toro]

I took profits in oil & gold today as well. If this civil war ends these fear induced prices will pull back. I plan to buy back in the week of March 11, 2011 because a "Day of Rage" in Saudi Arabia is planned for that date. I don't believe the Saudi people are as pissed off at their leaders as these previous countries were, but I am not going to sit on the sidelines if that country explodes. I am going to be in Oil, Gold & Silver.

CNBC reported today that the King of Saudi Arabia returned with great jubilation.

From what I am hearing and reading, it is unlikely that the kingdom will explode.

The Kings people may have been showing great jubilation. The revolutionist will remain quiet & out of sight until the time comes to riot otherwise they would be hunted down & killed. You can't always trust what is coming out of these countries. The Gaddafi was Shot rumor & we killed Bin-Ladin in the mountains mistake are proof of that. How do we know how many & how organized the revolutionist are if they operate in complete secrecy. If you wanted to join a revolution you would not tell anyone until the time came to act.

Stratfor is saying that the royal family isn't in any danger of falling. However, they noted succession issues, given that the leadership are all octogenarians.

FTR, I covered my silver short at a small loss.

 

[Trajan]

*ahem*..

Tribal chiefs join opposition to Yemeni president - Yahoo! News


if Saleh falls, this has a very high likely hood of really ratcheting %hit up.

 

[miller]

Gold will make a new high. The global economy will continue to drive commodities. Crude oil will also make a new high. We just saw Corn, Wheat, Cotton, & Copper have all just made new highs. Prices do not go in a straight line but they are consistently making new highs. BUY THE DIPS! The US dollar is done by 2020. $113 Trillion in unfunded liabilities. Then you have huge problems in 38 US States. CYA!!!

I'd be willing to say the dollar is gone by late 2012 or 2013. If I'm wrong, then good for everyone.

Kiss the dollar good bye now. Bernanke has guaranteed the destruction of the dollar. He is not only incompetent he is delusional. For a quick profit see this analysis.
Screwed Again: GOLD OPPORTUNITY

$1432 April Gold. They hit the stops. See my post here with my link:
Screwed Again: GOLD OPPORTUNITY

 

[miller]

There were huge sellers at $1429. It took all day until the buy stops finally bid the April contract above $1431.

The safe and smart play now would be to take the $17 profit at $1431 and parlay that profit by buying a straddle (a call and a put) at the $1430 strike. Gold prices will move big from this price but its impossible to predict which way.

With the QE2 Bernanke plan to wreck the dollar, the gold could go much higher. But this recommendation was for a quick move as I stated in my blog.

Depending on the volume and open interest, I recommend liquidating the straddle by the end of this week.

 

[miller]

See the trading update on gold:
Screwed Again: TAKE PROFIT ON GOLD NOW

 

[LordBrownTrout]

Thanks, Bernanke. Keep shoving us off the cliff with QE infinities.....ala 600B more. Does wonders for silver, gold, precious metals though.

 

[Trajan]

CNBC reported today that the King of Saudi Arabia returned with great jubilation.

From what I am hearing and reading, it is unlikely that the kingdom will explode.

The Kings people may have been showing great jubilation. The revolutionist will remain quiet & out of sight until the time comes to riot otherwise they would be hunted down & killed. You can't always trust what is coming out of these countries. The Gaddafi was Shot rumor & we killed Bin-Ladin in the mountains mistake are proof of that. How do we know how many & how organized the revolutionist are if they operate in complete secrecy. If you wanted to join a revolution you would not tell anyone until the time came to act.

Stratfor is saying that the royal family isn't in any danger of falling. However, they noted succession issues, given that the leadership are all octogenarians.

FTR, I covered my silver short at a small loss.

I have followed strafor as a member for years, they have pretty good outlook and good sources, but, I think, they missed the boat on this one toro. Karen Elliot House is somehting of an expert on the house of saud.

i will try and find her latest article, but for brevity's sake, they have a huge succession problem, mixed with the young turk angst.

edit...here we go..

Karen Elliott House: From Tunis to Cairo to Riyadh? - WSJ.com

 

[miller]

Thanks, Bernanke. Keep shoving us off the cliff with QE infinities.....ala 600B more. Does wonders for silver, gold, precious metals though.

Until you cash in the gold, you didn't make a dime. Remember the Hunts?

You would have made way more in cotton and coffee. This entire forum needs to learn that Bernanke is an imbecile who has no clue, and he's delusional. If he isn't fired he will destroy the dollar. This can happen any day. We went of the cliff when the banks collapsed.

Read this: Screwed Again