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Metals Up!

Discussion in 'Gold Silver (All things Metal)' started by REO 54, Feb 21, 2012.



  1. REO 54

    REO 54 Midas Member Midas Member

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    Sheesh! No comment all morning on metals rise all morning?. Not even from the cheap seats? Dow brushing 13k and still metals are strong?

    Cartoon world.
     
  2. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    haha, true.

    But I won't be satisfied until silver hits $800 per oz.

    *still waiting*
     
  3. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    Metals seem to do well when the Dow does well. the big drop in silver from 21 to 9 coincided with the big drop in the dow pretty much. Obviously the metals have done much better than the dow throughout the last 10 years, but Dow going up has usually been a good thing for metals.

    Will be interesting too see if Gold and Silver can really break out as gold has bounced off of 1750-1760 and silver off of 34.50 roughly a couple times throughout the last couple weeks.
     
  4. REO 54

    REO 54 Midas Member Midas Member

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    I'm still hoping for one more good "sale" before prices really take off.

    Thanks for the replies.I thought I was a mushroom out there.....in the dark and only fed $h!t.:D
     
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  5. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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    GodSpeedMetals: won't be satisfied until silver hits $800 per oz? :confused: If silver gets that high we will be spending $20 for a Coke from the machine and the BEP will be making Federal Reserve Notes in denominations that made the Itialian Lira look conservative.
     
  6. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Glad to see Gold up.

    I'm going to be selling off some oz pieces and moving them into fractionals so this is good for me. :biggrin:
     
  7. REO 54

    REO 54 Midas Member Midas Member

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    Interesting. I just converted a couple of oz's to fracs. 1/10's and 1/4's. I hoping Ag to go up more to convert into Au.My ratio in holdings is way lopsided.

    Platimun moved + 44 today. Very interesting.
     
  8. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    not necessarily, silver clearly has gone up and down from factors that have nothing to do with inflation, silver is up around 700-900% since 1999 or so, yet inflation is nowhere near that.
     
  9. bemac

    bemac Midas Member Midas Member

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    I think silver has had more room to correct, and IMHO, I think there is more speculating in silver than gold, thus its greater volatility.

    I'm not surprised to see metals up, as I have been holding some cash for over a week, waiting for a coin show this coming weekend.
     
  10. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    could be that or maybe it's just a smaller market so any significant buys/sells cause more major price moves. Hard to say if Silver will correct more, certainly is possible. I was more just reflecting on his thought that silver will only move along with inflation. (for some reason I see a lot of people say this, even though its far from correct)
     
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  11. bemac

    bemac Midas Member Midas Member

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    Yeah, you're correct. Silver can definitely move up as a safe haven asset.
     
  12. Gcubed

    Gcubed Banned

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    Absolutely! It can also drown like a fat lady without the strength to swim. Remember '08?
     
  13. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Goddam that was funny!!! .;)


    laughingmouse.gif laughingmouse.gif
     
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  14. Gcubed

    Gcubed Banned

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  15. bemac

    bemac Midas Member Midas Member

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    LOL, heck, I remember '11. ;)
     
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  16. Gcubed

    Gcubed Banned

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    Oh yeah? I remember '80! :p


    :biggrin:

    Damn, that was a bitch.
     
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  17. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Yeah dude I remember it like yesterday.

    There I was with my head full of Ted Butler quotes sitting atop a small hill of silver trying to decide if I should just go ahead and order that new Corvette with the profits that were going to roll in any day now, or wait until Chevy came out with a better color.

    Nothing like getting rolled by a hoor, but at least I wasn't alone.

    Two years later I was back to even and dumping that sh!t en masse. ~ silver :piss:
     
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  18. andial

    andial Sir Midas Member Site Supporter ++

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    [​IMG]..........
     
  19. Gcubed

    Gcubed Banned

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    Hey Brother 'dial, we GOTSTA have sum fun!! :36_3_13::36_3_13:
     
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  20. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    hey boys do you ever remember gold running up 500%+ in a few years like silver did from 08 to '11.....................neither do I:biggrin:
     
  21. Gcubed

    Gcubed Banned

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    Did you take profits or feel the later pain? :bear_w00t:
     
  22. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    The silver bull runs down the hill and bangs one cow.
    The Gold bull walks down the hill and bangs the whole herd. ~ :smokin:
     
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  23. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    All I've felt is pain cause I'm late to the game, just got in during '11. :banghead::banghead::banghead: I suppose it will work out to be a better entry point than 1980 at least :biggrin:

    I'm only dreaming about the 500% profits I could of potentially of had :36_11_6:
     
  24. Gcubed

    Gcubed Banned

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    Try gold. Ask Irons. ;)
     
  25. andial

    andial Sir Midas Member Site Supporter ++

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    One word, Silver, enough said.
     
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  26. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    Ahhhh, I was being half-serious, half-facetious and half-drunk.

    Just regurgitating some of the "pundit" views on "rocket silver". I'm not a believer in $800 silver... $700 silver, maybe.
     
  27. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Well I hope the OP is happy metals are now retreating.
     
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  28. REO 54

    REO 54 Midas Member Midas Member

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    Well I did mention that I was hoping for sale.....what,did'nt you convert your'e oz's to frac's? Heck It has'nt moved much......yet.:D
     
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  29. GodspeedMetals

    GodspeedMetals Gold Member Gold Chaser

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    Funny how my own psychology has changed regarding spot prices. I dread higher metal prices more than my friends who have none.

    I love government subsidizing my money! (Sorry, that came out wrong)
     
  30. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    All I have to do is think about selling for a minute or so and this always happens! .:mad:



    missedtrain.jpg
     
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  31. Tinbox

    Tinbox YOU GET NOTHING! YOU LOSE, GOOD DAY SIR! Site Supporter Platinum Bling

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    Don't have any, but Platinum's going to the moon it seems!:rock:
     
  32. REO 54

    REO 54 Midas Member Midas Member

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    Holy shiney metal Batman! Up 31 so far! What,the auto industry is ramping up or supply is getting harder to come by?
     
  33. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    I just sold some oz's folks so you might want to lock in your buy prices now because it's going to go up for days on end.
     
    Last edited: Feb 22, 2012
  34. Lawrence

    Lawrence Silver Member Silver Miner

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    You too? I sold some at $33.40 over the weekend.
     
  35. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    I sold some boring 1 oz coins so I can buy back more interesting and fun fractionals like, hmmm...

    Sovereigns!!!!! ~ :love30:


    EDIT: 1:13 Eastern WTF did I tell you!!!! ~ :banghead:
     
  36. Gcubed

    Gcubed Banned

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    $1770 on Fox Biz :s13:
     
  37. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    I havent sold any so i doubt this run has any legs :flute::biggrin:......gotta love PT though
     
  38. Silvergun

    Silvergun Silver Member Silver Miner

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    Last two purchases I have made metals didn't go down afterwards, which is quite rare it seems haha.

    There was a coin show over the weekend and I ended up nabbing my first gold coin. I'm on a silver budget these days, but I have been wanting to start diversifying my stack. Not the best snag in the world, but the cheapest i could find at the show. Its a 1998 1/10th AGE in the felt us mint box for $190. I'm happy with my purchase, gold fever is worse then silver fever.
     
  39. Irons

    Irons Deep Sixed Site Supporter Mother Lode

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    Silver fever is kids stuff, hell it don't even qualify as madness.
     
  40. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    http://af.reuters.com/article/metalsNews/idAFL5E8DM9C820120222


    Impala Platinum, the world's second-largest platinum producer, has warned customers that its April platinum deliveries would be down about 50 percent due to labour problems at its Rustenburg mine.

    The resumption of normal operations has been further delayed, and April deliveries will be affected, Implats group executive for marketing, Derek Engelbrecht, said in a letter to end-users.

    "It is a little difficult to try and estimate the quantum for April, but our best guess at this stage would be again for about 50 percent of normal," Engelbrecht said in the letter, obtained by Reuters.

    Implats has lost more than 80,000 ounces of platinum production over the past few weeks as the company fights to get miners back to work at South Africa's Rustenburg, the world's largest platinum mine.

    Illegal strike action at the mine led to the dismissal of over 17,000 people earlier this month, bringing it to a standstill.

    The company is rehiring these workers, but only about half have come forward, and Implats has warned that it could take weeks before the mine is back in full production.

    The company's refinery had held enough supplies to process platinum group metals (PGM) for four months, and it has lost at least a month's production, so the strike could start affecting deliveries within three months.

    "This is part of our ongoing procedure to manage the market impact of the strike," Implats Chief Executive David Brown said of the memo sent to clients (Read more at link)








    Also this


    http://www.kitco.com/reports/KitcoNewsMarketNuggets20120222.html

    (Kitco News) - Platinum and palladium both broke back above their 200-day moving averages on Tuesday and have extended their rallies so far Wednesday, traders say. One cites a surge in investment interest, as reflected by accelerated buying of exchange-traded funds lately, as well as supply fears as a strike continues against Impala Platinum in South Africa. Another trader comments that platinum remains cheap historically relative to gold, which may be prompting some spread trading in platinum’s favor. As of 9:35 a.m. EST, Nymex April platinum was $31.20 higher at $1,716.10 an ounce, putting in some distance from the 200-day moving average of $1,668.10. Previously, platinum had not climbed above the 200-day average for months, although it bumped up against it earlier in February. March palladium was up $9.65 higher at $720.40 an ounce, compared to the 200-day moving average of $696.30.
     
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