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No big fluctuations in PMs this week HolidayvsConsoliation?

PostPosted: Wed Dec 22, 2010 10:15 am
by Pennysaved
We don't seem to be getting the big fluctuations in price of PMs this week. It is either up or down just 20 cents or less for silver.

Do you think this is a consolidation at these prices or is it just due to light trading because of the Holidays?

Re: No big fluctuations in PMs this week HolidayvsConsoliati

PostPosted: Wed Dec 22, 2010 11:37 am
by beauanderos
I think the Boyz are still capping the price, just trying to be more subtle about it. They've decided, for now, that just keeping attention away from silver, as it supposedly "consolidates" is better than the renewed vigor with which it would again proceed if $30 is broken decisively on strong volume. You'll notice, by looking at the daily charts, that the selloffs still occur at almost the same time every day on the NYMEX.

Re: No big fluctuations in PMs this week HolidayvsConsoliati

PostPosted: Wed Dec 22, 2010 12:01 pm
by whatsnext
It went up ten bucks with little resistence, hit the 30 wall with a dent, took the hit but did not fall to it's knees, rebalanced and is currently sitting pretty.

My questions are is the buy silver campaign even partly reasponsible for this? Are the participants done with little joining in from now on?

Was it just worried investors and savers doing what the TV is saying?(more heads are recommending PMs)

I've looked at some vids on youtube basicly stating gold is going to be the big winner in the coming months with silver taking a concussion and not doing as well as it has recently.

I also remember hearing that silver for under 20 bucks was a deal. Wish i would have taken that serious.

I think 25 might be a safe place for silver to rest, and that expecting 32-35 is a little unrealistic in this short a time unless something startling happens. How much investor speculation is there for that kind of a rise?

silver has outperformed inflation and gold by a mile already but still seems undervalued(Thats no reason for irrational exuberance.)

Re: No big fluctuations in PMs this week HolidayvsConsoliati

PostPosted: Wed Dec 22, 2010 12:43 pm
by HPMBTT
Was thinking the same thing this week and last week too. Very little movement. I believe I read somewhere also that historically, silver (and perhaps gold) move less in Jan/Feb versus any other time of the year. I could be completely wrong on this, though. Feel free to comment/correct as needed.

Re: No big fluctuations in PMs this week HolidayvsConsoliati

PostPosted: Wed Dec 22, 2010 12:48 pm
by JJM
This sideways trading is a good thing. It will bust through $30, decisively, at some point soon. As to when, who knows... I do know it will close lower on the 31st than it will on the 30th (they'll want to push the year ending price down). I could see January 3rd being a pretty amazing day towards the upside.