The current gold/silver situation
Gold is at about $1342 USD per ounce
Silver is at about $27.43 per ounce
I was doing well at first with CGL (Claymore Gold Fund) but as we know Gold has slid for weeks now and some have predicted this while others predicted it would fly high.
I also hold PBU.UN which is a mix of silver, gold and cash and has not been affected that much. I'm still making about 10% off PBU.UN and it pays dividends on top of that.
Silver has done very well, if I had invested in a pure Canadian Silver ETF I would have literally made 40% profit so far!
But even silver has been sliding.
I'm really an amateur but I think we've been overdue for a market crash since last fall, the US economy is not good, nor is Europe's and perhaps selective media reporting is what has propelled stocks unrealistically high. Even Yahoo Finance was warning against this, as stocks continue to hit record highs in recent years.
So I'm banking that the economic news will become realistic and people will go back to Silver and Gold. What was happening before is the rich people were selling high and crashing it, and repeating the cycle. They always know things we don't, and for some reason they're waiting, or it could be that they want Gold to go much lower and then create a bull rush
Gold 1252.49 USD/ounce
Silver 20.28 USD/ounce
Well things have not gone well since the crash/bear market territory of metals happened in early 2011, at the end of it not much has changed and the metals have generally been on a slow downward decline.
Some have predicted Gold could fall further to $900 USD/ounce while others are sure it's time for a long sustained rally and exit from this extended bear market in metals.
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