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Today gold closed down $10.60 at $952.10 and silver closed down .03 at $13.73. So far this week gold is down $41.10 and silver is down .68.
Kevin, that is exactly what happened many times in the past. The precious metals would rise for four to six weeks and then the bullion banks would pound the metals down for a week and sometimes two.
I don't think so. Looking at the Friday closing prices, silver is up five weeks in a row. The 1st two days of a trading week usually mean very little. Many times in the past there has been a one week rest before the bull continues. But anything can happen. We will just have to wait and see.
Today gold closed down $29.00 at $962.70 and silver closed down .65 at $13.76. So far this week gold is down $30.50 and silver is down $.65.
Utcheevis, I haven't purchased any gold or silver for quite a while. I would call around and see what you can come up with. There is a large difference in fees so it pays. I have been using Northgate Rare Coins and Precious metals in Seattle. They are very good to deal with and have no trouble dealing in cash.
Due to the shortage and high prices in the PM's the dealers have a larger above spot charge that I can remember seeing before.
Northgate Rare Coins and Precious Metals
(206)364-0090
Today gold closed up $20.00 at $993.20 and silver closed up .38 at $14.41. For the week gold is up $51.60 and silver is up .74.
Today gold closed down $10.30 at $973.20 and silver closed down .31 at $14.03. So far this week gold is up $31.60 and silver is up .36.
Today gold closed up $14.00 at $983.50 and silver closed up .23 at $14.34. So far this week gold is up $41.90 and silver is up .67.
Absolutely! When the stock market does this badly it is hard for any one stock to have a good day.
Today gold closed up $27.90 at $969.50 and silver closed up .44 at $14.11.
The last five Friday closing prices:
1-16-09---gold $842.40---silver $11.22
1-23-09---gold $898.30---silver $11.93
1-30-09---gold $927.10---silver $12.67
2-6-09----gold $911.40---silver $13.13
2-13-09---gold $941.60---silver $13.67
Gold/silver ratios:
1-16-09--- 75.08
1-23-09--- 75.29
1-30-09--- 73.17
2-6-09---- 69.41
2-13-09--- 68.88
Today gold closed down $5.60 at $941.60 and silver closed up .17 at $13.67. For the week gold is up $30.20 and silver is up .54.
Today gold closed up $8.10 at $947.20 and silver closed down .03 at $13.50. So far this week gold is up $25.80 and silver is up .37.
The gold/silver ratio indicates how many ounces of silver it takes to buy one ounce of gold. When the ratio goes down it indicates that silver is the best investment. When the ratio goes up it indicates that gold is the best investment. As a result, precious metal investors should hold or invest in gold in a bear PM market and invest in silver in a bull market.
Right, Langlui. I believe that we are in the beginning of a long term bull market in precious metals and in the past silver has always gone up in price faster than gold in a bull market. The reverse is a different story. In a bear market silver always drops faster than gold. So, gold has always held it's price better in a bear market and silver has always been better in a bull market.
A recent prime example is the drop in precious metals from March of 2008 to October of 2008. On 3-14-2008 gold closed at $1002.50 and silver closed at $20.67. The gold silver ratio was 48.5. On 10-17-08 gold closed at $782.90 and silver closed at $9.35. The gold/silver ratio was then 83.7. Now that gold and silver has started back up the ratio is closing and now stands at 69.4.
The gold/silver ratio will get much closer together when we get out of this recession period. Today gold closed up $23.80 at $939.10 and silver closed up .39 at $13.53. So far this week gold is up $27.70 and silver is up .40.
The gold/silver ratio did decrease slightly today. The ratio is now 69.41 with today's ratio at 61.03.
Right, Kevin. Now if the world's economic and industrial problems can make a comeback you will see a gigantic increase in the price of silver. How will industry make a comeback without silver. The many hundreds of applications that silver is used for in industry will require that industry pay any price to get cranked up again. Keeping in mind that silver is already very hard to come by the supply/demand pressure on silver should be intensive.
Today gold closed up $20.30 at $915.30 and silver closed up .31 at $13.14. For the two days gold is up $3.90 and silver is up .01.
Kevin, that same type of trading took place for months during the 1st part of the precious metals bull run.
It might be well to note that silver closed at $9.37 on the 24th of October, 2008. Last Friday silver closed at $13.13 or up over 40% in 15 weeks.
Today gold closed down $3.10 at $911.40 and silver closed up .23 at $13.13. For the week gold is down $15.70 and silver is up .46. The gold/silver ratio is now 69.4.
Atotalbum, I have also been looking for Tsafi to check in. It got very hot in Gaza and that area for a while. Now that it has cooled down a bit maybe we will hear from him soon.
Today gold closed up $8.60 at $914.50 and silver closed up .36 at $12.90. So far this week gold is down $12.60 and silver is up .23.
Today gold closed up $5.30 at $905.90 and silver closed up .09 at $12.54. So far this week gold is down $21.20 and silver is down .13.
Today gold closed down $4.20 at $900.60 and silver closed up .02 at $12.45. So far this week gold is down $26.70 and silver is down .22.
Today gold closed down $22.30 at $904.80 and silver closed down .24 at $12.43.
Today gold closed up $18.80 at $927.10 and silver closed up .32 at $12.67. For the week gold closed up $28.80 and silver closed up .74. The gold/silver ratio is now 73.17.
You are right again Kevin. The US dollar showed a net strength for the week against major currencies and gained .0146 against the euro.
Today gold closed up $21.90 at $908.30 and silver closed up .40 at $12.35. So far this week gold is up $10.00 and silver is up .42.
Today gold closed down $11.30 at $886.40 and silver closed down .09 at $11.95. So far this week gold is down $11.90 and silver is up .02.
Today gold closed down $4.60 at $897.70 and silver closed up .04 at $12.04. So far this week gold is down .60 and silver is up .11.
OOPS!! that was your "who knows" comment.
Very true Kevin. Historically the precious metals have dropped during the summer months. I know of some that sell PM's to pay for a vacation or any number of other activities. They seem to rebound, starting around the 1st of September. But Langlui made a great two word comment, "who knows"? If China and some of the other countries can get turned around and continue with their industrialization this will put tremendous pressure on the silver market.
I have some friends and a grandson that are trying to buy silver but they must pay $1.00 over spot and wait three to six months for delivery. Anytime a commodity is this hard to purchase it is time to look at the supply/demand figures.
I'm off to have a chemo treatment and will talk to you later.
Have a great day
Jerry
Today gold closed up $4.00 at $902.30 and silver closed up .07 at $12.00.
Today gold closed up $41.90 at $898.30 and silver closed up .54 at $11.93. For the week gold is up $55.90 and silver is up .71. The gold/silver ratio is 75.3.
Today gold closed up $3.20 at $856.40 and silver closed up .09 at $11.39. So far this week gold is up $14.00 and silver is up .17.
Right Kevin. four of the lease rates also went up yesterday but not as much. At the present time the only roll over candidate is the one-month contract. This could be another squeeze on the paper players to cover.
For the two days gold is up $13.40 at $855.80 and silver is down .05 at $11.17.
Thank you very much Kevin. Even though today is a holiday silver is being traded worldwide. For some reason Kitko will not consider this a trading day.
Today gold closed down $8.70 at $833.70 and silver closed down .08 at $11.14. For the past few weeks the lease rates have been dropping rather rapidly with three of the five rates now below 1%. All rates have dropped 1% or more during this time making it a good time for the paper players to roll over their contracts. Only the six month and one year rates remain above 1% so those contracts are still under pressure.
The gold/silver ratio is currently 74.8.
Thank you so much langlui.
Thank you very much atotalbum.
boomer, thank you so very much for your comments and good wishes. I spent a few more days in the hospital and have not gotten around to my computer or much else lately.
I have been told by several people, including doctors and nurses that pancreatic cancer is the worst of all the cancers. Not only is mine bad but it is on the inside of the pancreas instead of hanging on to the outside like most. It was a late diagnosis and was about the size of a tennis ball when discovered. I started treatment last Tuesday.
I plan to be back at the computer with the precious metal updates stating today. I will post the last few weeks Friday closing prices and will keep up with daily updates after today as much as my health will permit.
10-17-08--Gold $782.90----Silver $9.35
10-24-08--Gold $734.30----Silver $9.37
10-31-08--Gold $723.70----Silver $9.86
11-07-08--Gold $733.90----Silver $9.97
11-28-08--Gold $816.30----Silver $10.26
12-12-08--Gold $822.00----Silver $10.24
12-19-08--Gold $837.90----Silver $10.82
12-26-08--Gold $874.90----Silver $11.53
1-09-09---Gold $853.60----Silver $11.25
1-16-09---Gold $842.40----Silver $11.22