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Gold & Silver Are Moving Higher… Much Higher! Says Analyst
Yahoo Finance ^ | 08/04/2011 | Jeff Macke

Posted on 08/04/2011 8:57:51 AM PDT by SeekAndFind

Every day is a good day to buy gold of late. It's an intoxicating state of affairs for those of us who already own the barbaric metal, which is exactly the problem. Being inordinately giddy over an investment, what Tony Montana called "getting high on your own supply", generally ends quite poorly.

The question isn't so much whether or not gold has worked. It has. The question is if it's too late to enter or if this is a prudent time to take some profits. With the fundamentals widely understood, Breakout turned to technical analyst Peter Lee of UBS to give us the picture from the view of a chart analyst. His opinion isn't likely to sober up the bulls.

"Gold is headed higher," Lee says. "Gold is a great call. We don't think it's speculative at these current levels." Discounting for inflation Lee sees the most precious of metals heading into the $2,000's.

His view gets slightly more bullish, at least for a trade. "Historically the last move up on a commodity based rally is a parabolic move." Are we entering that portion of the gold rally now? Hard to say. Gold has moved away from it's trendline and moving average but hasn't done anything resembling the spectacular spike silver made in April. Since gold's rally started, notes Lee, gold has repeatedly tested its uptrends and moving averages and held every time, leading to ever rising moves. Lee isn't betting against it happening again.

Touching on Silver, Lee sees it consolidating its multi-year move in a range from the mid-30's to low-40's. He says these are your levels to watch for a short-term trade. But the long term outlook is for a big move higher, that eventually sees silver prices climbing to $100/oz.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: 2ndgreatdepression; bhoeconomy; buygold; buysilver; debt; debtceiling; depression2point0; economy; fiatmoney; getreadyhereitcomes; gold; greatestdepression; greatrecession; infation; preparenow; prepperping; preppers; prepping; silver; survivalping
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To: BooBoo1000

Just called my local coin supplier, no soap, he has no Gold or Silver coins, he has some 100 oz and 1000 oz silver bars but no small coins, also bullion silver, such as pre 1964 dimes quarters and halves are harder to find than hen’s teeth Check Grand Pa, he might have some gold or silver teeth you could sneak away from him.


41 posted on 08/04/2011 12:10:05 PM PDT by BooBoo1000 (Ear more"KIMCHI".)
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42 posted on 08/04/2011 12:11:37 PM PDT by TheOldLady (FReepmail me to get ON or OFF the ZOT LIGHTNING ping list.)
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To: bkopto

Yes, of course not.

The only way I would ever use gold for food, gas, etc., is if it was all I had available to me.


43 posted on 08/04/2011 12:19:35 PM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: Ernie Kaputnik

44 posted on 08/04/2011 12:20:52 PM PDT by Publius
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To: SeekAndFind

“Historically the last move up on a commodity based rally is a parabolic move.” Are we entering that portion of the gold rally now? Hard to say.


Easy to say.

Gold is up about 15% per year for the last 10 years. Some years more, some less.

Parabolic is like in 1979-80: A new record high, followed by quadrupling in price in 1-1/2 years, including a 25% rise in the final two weeks.

Which has no relation whatsoever to the current run—up, even the recent faster run-up that has a number of similar counterparts during the 10-year bull.


45 posted on 08/04/2011 1:40:15 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Ernie Kaputnik

there are several small gold refineries selling 1 gram of 24K gold, with assayers certificate for around $70 - $80 at present


At current prices, a gram is worth $53. Your product and price is fiscal rape.

Much wiser is to buy silver if you can’t scrape together a few thousand a year to buy a one ounce coin, or to buy 1/10th ounce coins.

gainesvillecoins.com has low prices on surprisingly small quantities.


46 posted on 08/04/2011 6:54:11 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: ClearCase_guy; djf

If the US were on the gold standard, how much would an ounce cost?


It would depend on what fractional reserve ratio was used. You don’t need enough bullion to back every gold certificate, as long as the price is set at a level that doesn’t have people cashing them in. The lion’s share of currency is backed by the “full faith and credit.”


47 posted on 08/04/2011 6:57:06 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: JDW11235

They seems good. gainesvillecoins.com beats them on price by a little bit, and are excellent to work with. If you’re spending five figures at a time, tulving.com is the best.


48 posted on 08/04/2011 7:02:51 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Ernie Kaputnik

How is the cashier supposed to give you your $1500 in change since neither you or the grocery store will accept paper money?


1. Silver.
2. Small gold coins (or you spend small gold coins).
3. Put a credit of 0.92 ounces of gold on your account.
4. Trust you to shop and run up a “tab” until it’s worth an ounce of gold.

Civilization has mastered this millennia ago. It’s not rocket science.


49 posted on 08/04/2011 7:06:40 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: trillabodilla

Dear FReepers in the know- my husband and I have a bit of cash set aside. Will it be worthless in a few years? Should we buy land with it? Gold? Silver? I’m sorry if I sound clueless but, you know, we just work and save our little dollars, but I don’t want to turn around one day and it’s gonna be worthless.


I’d put 1/4-1/2 of it into silver NOW. Go to gainesvillecoins.com and buy “junk silver”. I’d put the other 2-3 quarters into silver each month thereafter.


50 posted on 08/04/2011 7:08:46 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: maine yankee

Find a coin dealer in your area that buys and sells ‘junk’ silver. Most buy and sell very used coins based on their silver content. These are coins pre-1964, most of which were 80% silver.


Correction: 90% silver. 0.715 ounces per dollar of face value (assumes 1% wear).


51 posted on 08/04/2011 7:11:00 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Beelzebubba

Yeah. No kidding. It’s not rocket science and it’s obvious that you are not a rocket scientist either. You missed my point entirely.

But the good news is that the FReeper I was conversing with understood my point completely.

But thanks for chipping in with your two cents.


52 posted on 08/04/2011 7:15:21 PM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: BooBoo1000

Just called my local coin supplier, no soap, he has no Gold or Silver coins...


Actually, he probably has a boatload, but he bought it at $45-50/oz, and believes (as I do) that prices will recover soon.

There are lots of other good options, like the one I’ve mentioned in many posts here, and have no affiliation with, other than as an occasional customer.

Get a better dealer who actually deals. He sounds like an amateur small fry.


53 posted on 08/04/2011 7:16:19 PM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: ClearCase_guy

The value of a dollar was traditionally set at something like 1/35th of a Troy ounce. You would have to know how many dollars are out there andnhow much gold we own.


54 posted on 08/04/2011 7:24:21 PM PDT by Vermont Lt (I can't think of anything clever, so I'll just say, "Obama sucks.")
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To: Beelzebubba

Hey Bubbs, be advised that I do not have a product. I do not work for a gold refinery, coin shop, pawn shop or gold retailer. I do not endorse or promote any retailers or their products and services. Furthermore, I do not control the prices they charge. If you have a problem with the prices that retailers and refineries charge, I suggest you bust their chops, not mine.

(If you think $70 - $80 is fiscal rape, try buying a 1 oz. Gold American Eagle coin from Goldline. Current gold price is $1649.90. Yet a retailer will charge you well over $2000 for that coin. How do you like them apples, Buttercup? I can’t give you a firm price because Goldline doesn’t list their prices. You have to call them for a quote.)

More importantly, I was simply responding back to a fellow FReeper’s question. The price of $55 per gram was accurate at the time of my posting. It’s not my fault that commodity and stock prices fluctuate every second of every minute of every day. The information I provided is readily available online from Goldline, Pampe Suisse, Credit Suisse, IAR, or Kitco.com. Complain to them about their prices. Or better yet, why not complain to the US Mint, US Treasury Dept, Wall Street, George Soros, or the billions of Chinese and Indians that are gold crazy. They are the ones driving the parabolic rise in gold prices.

I hope that clarifies things for you.

Have a pleasant evening.


55 posted on 08/04/2011 8:04:39 PM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: Beelzebubba; BenKenobi; JDW11235

Hey Beelzebubba

Wanted to add one more comment to our conversation:

Stop acting like a liberal and stop accusing me of promoting a product when that is exactly what you are doing. I don’t have website, nor do I sell gold. But you do appear to be pushing people very hard into purchasing silver “scrap” coins.

Yeah, I’ve looked at your posts on this thread and others and noticed you are pimping a website (yours?!) at every opportunity. I counted 2 seperate posts from you on this thread promoting gainsvillecoins.com.

Bad form, Dude. And Ridiculous. That’s worse than people who pimp their blogs on FR. If you want to promote your business to fellow FReepers, fine with me. Just don’t ever accuse a fellow FReeper of pimping, Pimp.

It’s perfectly acceptable to disagree with others on this forum, and I won’t deny that you seem to have a firm grasp of the PM market. But that doesn’t excuse you from chastizing me or anyone else so that you can pimp your business.


56 posted on 08/04/2011 9:18:43 PM PDT by Ernie Kaputnik ((It's a mad, mad, mad world.))
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To: Ernie Kaputnik

I counted 2 seperate posts from you on this thread promoting gainsvillecoins.com.


Sorry dude, but I have no affiliation or ownership of that company. A little research will show you that they offer no promotional consideration like some others do. Which is the logical result of them having unusually low margins, which is why I suggest them to Freepers asking about where to invest in precious metals.


57 posted on 08/05/2011 5:20:11 AM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Ernie Kaputnik

If you think $70 - $80 is fiscal rape, try buying a 1 oz. Gold American Eagle coin from Goldline. Current gold price is $1649.90. Yet a retailer will charge you well over $2000 for that coin. How do you like them apples, Buttercup?


I guess you didn’t check the best price retailer I have found (and bought from:

http://www.gainesvillecoins.com/products/157597/1-oz-gold-american-eagles-2011-999-fine.aspx

$1775, paid by credit card (plus maybe $20 shipping) for a 2011 American Gold Eagle G$50 1 oz (Brilliant Uncirculated) Condition.

I suspect your testiness on the subje3ct has more to do with your situation than it does with trends and predictions about the prices of precious metals. You seem angry.


58 posted on 08/05/2011 5:25:50 AM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Ernie Kaputnik

Just don’t ever accuse a fellow FReeper of pimping...


I didn’t accuse you of pimping. I accused you of bringing up a dumb idea, and offered a demonstrably better one.

Call it the free market competition of ideas.


59 posted on 08/05/2011 5:27:38 AM PDT by Atlas Sneezed (Government borrowing is Taxation without Representation)
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To: Beelzebubba

I’ve heard of gainsville coins, but not looked into them, maybe I will. FReep on, and thanks for the tips!


60 posted on 08/05/2011 3:45:22 PM PDT by JDW11235 (I think I got it now!)
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