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Old 01-26-2011, 07:46 PM
idiotstockinvestor idiotstockinvestor is offline
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Join Date: Oct 2010
Posts: 120
Default 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
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