mInvestor. I am long silver and plan to buy more.
The fact that it stopped falling today is a good sign.
Scott, How did you become such a gold bull? I'm curious about what led you to invest in it and how you got started, I think many of us still feel some trepidation when we talk about commodities.
Re: What about silver
driven
8/25/2011 8:05:41 AM
Hmmm...I agree with the gold but you lost me on the real estate.
Hey, I have a great bridge in Brooklyn, Want to buy it?
You missed another valid reason...Gold as collateral
back2basicz
8/25/2011 7:13:47 AM
Scott,
This is a move which rapidly gaining traction and strength amongst most Surplus Central Banks.Use Gold as Collateral for Loans.
http://www.irishtimes.com/newspaper/finance/2011/0824/1224302892279.html
I think its an expected and wise move.Gold is very much Honest Money with Zero-counter party risk which makes more sense as Collateral for anyone giving a loan today.All those deficit countries will think twice about defaulting on their loans if they know that their Gold is part of the collateral(which can and will be seized) if they default on their loans.
Gold is slowly but surely returning back to the Centre of Global Finance where it belongs.
Regards
Ashish.
Jacob,
It really depends what real estate you are referring to here.
If you are talking about Farmland,Forest land or Virgin land then I am very much with you here.
However if you are talking about Condos and McMansions then the Global Housing busts in places as widespread as Ireland,Spain,Dubai,China and America (Florida,California,Arizona,Nevada,etc) tells a different story.
Regards
Ashish.
mln,
Silver trades as a function of three things-
1)Industrial Demand aka Growth
2)Jewellery Demand-The Poor Man's Gold
3)Hard Asset Demand-Replacing Fiat money with Hard Assets -Money.
All three things play a role in deciding the final price of Silver.
Also,Silver is a much more thinly traded Commodity than Gold so small moves can and will trigger massive spikes(as compared to the Gold market).
However,if you are looking for parabolic growth the Chances are much-much higher in Silver than in Gold.Obviously you would need the stomach to handle the inevitable volatility on the way.
Regards
Ashish.
Re: What about silver
Jacob
8/25/2011 5:32:32 AM
When equity investments become worthless or there is an uncertainty, investors may divert their investment either to gold or real estate. These two areas can ensure atleast a minimum return with minimal risks.
Scott,
At my office today all the talk was on gold, one of the other engineers kept walking around, mumbling updates every 10 min or so. And would not stop calling this a crash.
I would tend to agree that what we are seeing is just a correction. I think the problem comes in because we have not seen gold go down in a long time.
I am going to stay on the ride for a bit longer and see where it ends up.
What about silver
mInvestor
8/24/2011 6:12:11 PM
Scott,
I agree that it's just a correction happend today. So I bought some gold (ETF) today. If it keeps dropping, I plan to buy a little more.
What do you think Silver then? It rose to $47 in April, and then dropped back to $30s. That rising and dropping is different to gold. Don' understand it. What do you think.
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