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Gold & Silver
- Thread starter Cutten
- Start date
Interesting action recently - seems like I was about a week or so too early on calling a top, but it looks as though a decent correction has now kicked in.
IMO a good buying opportunity will be presented - most likely at the point of maximum pessimism, where everyone writes off the gold/silver bull market, and there is a big down move as the short-term speculators puke out their positions. My suspicion is that this may occur on a move below $400 in gold, 200 in the AMEX Gold Bugs index, and $6 in silver - but I will wait for the market action to indicate this, rather than try to call the level in advance like I mistakenly did on the way up.
Any thoughts?
IMO a good buying opportunity will be presented - most likely at the point of maximum pessimism, where everyone writes off the gold/silver bull market, and there is a big down move as the short-term speculators puke out their positions. My suspicion is that this may occur on a move below $400 in gold, 200 in the AMEX Gold Bugs index, and $6 in silver - but I will wait for the market action to indicate this, rather than try to call the level in advance like I mistakenly did on the way up.
Any thoughts?
This is the first time I have done any business over the internet and it was pretty smooth. I sold my gold to Kitco in two stages locking in price at the time of sale. The first shipment was sold at $408. This last one was locked at $419 and gold is now at $409. We'll see now if they will stand by their price.