Prices for silver, gold tumble along with many other commodities

Washington Post ^ | June 21, 2012 | Associated Press

[An American!]

Metals and other commodities fell Thursday, led by a tumble of more than 5 percent in silver, as discouraging news about the economy kept piling up.

Both precious and industrial metals fell. Silver priced for July delivery lost $1.55 to $26.839 per ounce. August gold slid $50.30, more than 3 percent, to $1,565.50 per ounce.

Silver and gold often move in synch, but silver tends to fluctuate more because of its lower price.

[An American!]

Source: http://silverprice.org/silver-price-history.html

Where is the bottom? With growing signs of a continued faltering US economy and a sharp contraction in industrial output in Europe, the industrial metals sector will continue downward in the near future. Combined with the ongoing uncertainty over the forthcoming Greek election and fears about the Spanish banking sector...well it is really anybody's guess!

[An American!]

For those interested here is the Gold Price History

[hinckley buzzard]

Silver threatens to break through support, suggesting new lows to come. Interesting.

[An American!]

Yeah...I am still thinking between 20-25 is where it will level out. But I really don’t see level for a while. Lots of whip-sawing up and down. Jun 6 I think it was 29.50 and today it is 26.80. It will snap back up and come flying back down. Speculators and people trying to time it will only exacerbate things. a real driver though I think is depressed markets=depressed manufacturing =depressed demand...thus it will continue to trend down. The flip side that will cause it to yo-yo up is the people fleeing stocks and other instruments looking for ‘stability’ of precious metals.

[cherry]

my exp with gold is that many years ago, in the mid 80's, I wanted to buy a legacy gift for my children...all I could afford was gold commemoratives....two of them at 1/2 oz apiece of Marian Anderson...

of course when I bought the price was high....$600 IIRC.....

so all these years and yes I could have sold when gold hit high but it defeats the purpose of buying them in the first place....

so what do you do?.....is there anything to buy that you won't mind selling but will increase value?

[An American!]

That is one reason I advocate silver over gold. Easier to buy and sell...smaller denomination bills if you will. Gold is like taking a 100 dollar bill to buy a pack of bubble gum, silver is taking a 5 dollar bill to buy a pack of bubble gum. I can buy a lot of silver over time to even out the high/lows and sell a little back at a time. an ounce of silver is 30 bucks, an ounce of gold is 1600.