BUYING MORE- GOLD/SILVER...with cautionSubmitted by christopher X on Fri, 04/18/2008 - 00:34
(Update 2)- i bought 50 Silver American Eagles(2008 uncirc.) and 50 Canadian Maple Leaf (2008 uncirc.) today...starting to ease into Silver. Price could still go down to $16.50 oz...but i doubt it...i bought at BullionDirect.com
(Updated 1)- we are now in the thick ...or just under support. one of two things will happen. it seems to me that the markets are reaching a resistance level. Gold and Silver will either "pop" or "drop" tomorrow. If Gold and Silver "gap open"(jumps before open of the market tomorrow...then we will be going back up in a big way, i expect a big market selloff...with a rebound in Gold and Silver. OR a beak even day...this may or may not signal a reversal in directions for all markets
if Gold and Silver slide tomorrow...we are headed for more down trending. the next support under the Gold price is around $850oz and for Silver the next support under the Silver Price is around $15.50.
i am thinking of buying some Silver tonight or tomorrow for the first time...but be careful because certain entities want to break Gold and Silver bugs.
WATCH WHAT THE DOLLAR & OIL DOES IN THE MARKETS AND USE THIS AS YOUR GUIDE.