First let me introduce myself, I am new to the forum but not new to the precious metals market. I work at a coin shop that deals heavily in precious metals all day long. Everything from junk US 90% Silver to American Gold Eagles.
With the precious metals market there are so many factors that affect its outcome. From someone farting in Dubai and making gold go up by $20 to Saving some endangered leaf on an Alaskan Oil Pipeline. Anyways seriously:
Right now the European Market is a big factor in the precious metals market. In the US the fact that we have just had an economic stimulus in this country called the Holiday shopping season also teamed up with infamous tax return time is causing a serious decline in precious metals. If the dollar and DOW are weak precious metals are always strong. Well a stimulated economy has weakened the metals. Lets fast forward to late February to early March. Our unemployment rate in this country is a reported 8.7% last time I cared to look. That number is the biggest crock I have ever seen, it doesn't even begin to account for the people that are exhausted with trying to find work or are no longer eligible for benefits. Well the war is over the troops are all coming home and guess what some are reservists returning back to the workforce, so the replacement help will be let go. More jobs lost. The military doesn't need all the personnel now "No Longer Wartime" Most of the soldiers have done their tours more than a few times and no longer want to be in. So unemployment will go through the roof, the economy will suck worse and precious metals will be going strong again.
Sorry not trying to rant and rave.....
In my humble opinion you will never see a day when gold goes below 1400.00 again let alone 1000-1200 range. If you look at silver it definitely has the most growth potential of all the precious metals. Historical high for silver 55.00 in the 80's 48.00 about three months ago. Someday a good majority of Americans will come to the realization that what we have stuffed in safes and wallets is just paper. With billions and billions of un-backed funds our economy is heading for a steady decline if not a downward spiral. My favorite phrase that I hear people say is I hope silver goes up to 100.00 an ounce. No you really don't cause that means that the cost of living just went up ten fold and our nations economy has just crashed.
OK I'll get off my soapbox now but the view was spectacular up here.....
Thanks for reading!!!!
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