Silver is down to $30 from $40 in like a month. Gold is down by $200 in the same time period. Does this mean that faith has been restored in our .gov? Is it just a temporary dip? As in, is now the time to invest? What's everyone's $.02?
profit-taking....maybe a speculative bubble. assuming (big assumption here) that isn't occurring then nothing that has been responsible for the run up in gold prices has fundamentally changed. even if it were a bubble, i haven't seen a whole lot that would cause this bubble to "pop" just yet. economy still sucks, money supply isn't really decreasing, interest rates are still very low. gold may correct even more but i don't see the bottom falling out of it just yet.
It means both metals are overvalued.
Spec ops Grunt said:
I think silver is probably under valued.
Big investors and hedge funds have been treating gold like a big piggy bank. European (and US) weakness has forced them to liquidate gold/silver to cover losses and margins. The fundamentals are still the same. The world is in big trouble. I bought lots of gold this week. I even bought some of that silver stuff. Buy on weakness; sell on strength.
The last time gold and silver hit records it dropped quite abit, and then we had the most recent jump to new records. I think it's a good time to invest and still think Gold will hit $2000 and Silver hits $70 by next summer.
I agree with the 'time to buy' comments. This is on of my favorite sources for keeping up with gold/silver and the financial markets: http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html
