These guys are missing another reason, the metals are priced in dollars.
With everyone fleeing to dollars, of course the price relative to dollars is going to go down.
This is the biggest factor and it isn’t going to last.
So buy buy buy....
There are reports of shortages of physical and the continuing rumor that exchanges and ETF's don't have enough physical either.
I wouldn't be a bit surprised to see premiums for physical increase as shortages become even worse.
Yup.
M2 is exploding as europeans dump the euro and convert to USD.
Problem is, they`ve jumped from frying pan to the fire and are only delaying the inevitable
With everyone fleeing to dollars, of course the price relative to dollars is going to go down.
The dollar has been relatively stable during gold’s big drops.
“These guys are missing another reason, the metals are priced in dollars. With everyone fleeing to dollars, of course the price relative to dollars is going to go down. This is the biggest factor and it isn’t going to last.”
Are you sure? Here is the chart of the change in gold price for Friday and the breakdown of change because of the dollar.
http://www.kitco.com/kitco-gold-index.html
As you can see, the change was mostly due to normal trading.
Well, I confess that I bought about $500 worth of silver eagles at $40 each a couple weeks ago, and two morgans at the VERY peak for about $45.
But the lions share of my silver was purchased below $20. And being in this for the long haul, I may need to go big again.