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  • seasonedspec seasonedspec Apr 29, 2008 11:32 AM Flag

    Is Gold & Silver Heading Higher?

    dcp,

    I've been holding my PAAS along with a few other PM stocks. I plan to continue to hold them and will buy more shares should prices head any lower. Gold and silver prices appear to be drifting lower in spite of growing inflationary trends. That is a mystery to me. My conclusion is that big traders and central banks have been moving the metals and their derivatives lower so as to make profits on the short side. As a long term silver bull I will just have to wait out this short term correction. But I'm certainly not smiling at this time! SS

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    • Yes, SS, silver and gold are moving lower as inflation is starting to heat up. Why is that surprising, though? After all, silver and gold moved up sharply over the last few years despite the fact that inflation didn't move up nearly as fast. It would have made a lot more sense, logically, if gold and silver had only just begun to move up, but the market sees far ahead, sometimes surprisingly far ahead. My fear has been that, like the mid-1970s, after an initial run up, gold and silver would take a multi-year pause before reaching a final blow-off. Is this the beginning of a multi-year pause as the precious metals wait for inflation to catch up? Or is it just another healthy pause in a series of upward movements? I do not know.

      • 2 Replies to carl_p_r2
      • CARL, I loved your post. Why? Because unlike 99% of the posters here, you ended the paragraph with the words "I do not know." When one can be in that state, one can then possibly know! Very zen! I for one have no idea either. Are we being manipulated by a precious metals cartel shorting gold and silver artifically? Or are the futures manipulators just running out of buyers? Or are we as you said waiting for inflation to catch up? Might be all 3. Might be none. I do suspect though that if both oil , bonds and metals continue to drop...all that money can wind up in only one place.........equities!!!! Look at the rotation into tech stocks these last few days. Tells you something.

      • Maybe I'm a contrarian but I just put my remaining cash into silver in the hope of a short term (~1 month) 10-15% return.

        FWIW, longer term, my plan is to keep the majority of my PM positions for the next 18 months. My impression is of a coming several months pause not several years.

 
PAAS
16.45+0.41(+2.56%)4:00 PMEDT