Implications of credit downgrade for silver prices ???
Please post any information with links that you find. I am looking and will post any info that I can find for the implications for silver prices on Monday as a result of the S&P Downgrade of the U.S. Credit Rating. I am of the opinion that it may very well spike Silver & Gold Prices. What do you think ?
Gold/Silver could rocket on the open ? It is what most are thinking.
On the other hand, if stocks and bonds tank, many who use margin will be forced to raise capital, and will sell whatever PM Precious Metals they own, at any price. This would cause gold and silver to fall.
Again, on the bullish side, and fall in price (gold/silver) will be attractive to those wanting to increase their holdings.
China, India, and Russia are known buyers.
If gold goes higher, I will buy more each month. If gold and silver goes lower, I will also buy.
As the USA continues to print and print more dollars, gold and silver will become more attractive. Gold and silver will end up in huge bubble.
The bubble will pop someday.
The real question, is where will the bubble pop ?
My guess is, you have one more double in both, silver and gold ? ? ? ?
Where do the metals market open on Sunday nite or Monday? I do not care. I know the prices will double from here. Prices will rocket higher, followed by steep corrections. Whip-saw action happnes. Nothing goes in a straight line, unless you are in the middle of asset crash, which is also common with any and all bubbles.