For short term:
If US debt limit is up, crisis is resolved, US$ will be strengthened, oil$ and gold/silver$ will have a correction. So, this week is uncertain, US$ is depreciated, gold/silver is up. If there is an accident of default, then the false alarm will become a real crisis.
For mid term:
If US introduces QE3, then gold/silver$ will go up quickly, else the pace of growing will be slower, unless more crisis come out.
So, the trend of US$ is critical at the moment...
Silver reached new high of US$37, can it go higher?
Moderators: alvin, learner, Dennis Ng
Peter Schiff latest view and the various scenarios and the effect of gold & silver:
GOLD AND SILVER BEYOND THE LIMIT
by Peter Schiff
Perhaps the debt ceiling should be renamed the "national debt target," for it seems Washington is always trying to reach it. One could say it's their only reliable, time-tested achievement. And without fail, upon reaching their national debt target, they promptly extend it further in order to discover how quickly it can once again be attained!
While I have little doubt that the ceiling will be raised, my readers have been curious as to the implications for gold in each of the debt and "default" scenarios possible after August 2nd. This month, I'll outline how each outcome could affect the price of gold and silver.
BEARISH GOLD CASE #1: DEBT CEILING NOT RAISED - ENOUGH CUTS MADE TO AVERT DEFAULT
My readers know that this scenario is actually what the US government should do. The debt ceiling should not be increased and massive cuts must be made. We know this outcome is extremely unlikely - it would require not only a resolute steadfastness to sound money, but also a 180-degree change of philosophical beliefs by the majority of Congress (and the American public) overnight.
Yet in our fantasy world, if this did occur, it would be bearish for gold. It would mean the US government was shrinking, that debts were being paid, that the entire US economy was becoming more solvent and viable. Gold would be less important to own, as the risk of both currency crises and sovereign debt crises would be lower.
BEARISH GOLD CASE #2: DEBT CEILING RAISED - FEDERAL BUDGET BALANCED
If the debt ceiling is raised in order to avert imminent default, but the spare time is used to truly bring the federal budget into balance, the US economy might still be saved. But when I say "balanced," I mean it. This would mean not only eliminating the entire $1.5 trillion deficit, but also leaving enough of a surplus to cover all outstanding debt and unfunded liabilities. For perspective, Senator Rand Paul's proposal to but $500 billion a year, widely considered more radical than landing a man on Mars, would only address 1/3 of the annual deficit - it would take cuts many times that for the US to return to solvency.
But let's be optimistic: if the budget could be balanced, then the fact that the debt ceiling was being increased yet again would not be so awful. Since the US government's fiscal policies would be completely reversed, we could expect to start seeing a strengthening of the dollar (so long as Bernanke stopped the printing presses too) and a weakening of gold and silver.
However, this is just as much of a pipe dream as the first scenario. No government in history has dug itself out of the hole we now face without defaulting. If Congress even tried to enact a plan like this, people would be rioting in the streets over their lost entitlements. And we'd suddenly have millions of unemployed soldiers. Not exactly a recipe for peace and prosperity.
BULLISH GOLD CASE #1: DEBT CEILING NOT RAISED - US DEFAULTS ON TREASURY DEBT
This is the scenario that President Obama and Secretary Geithner are threatening. They claim that if the debt ceiling is not raised, they will have to immediately begin defaulting on Treasury interestpayments. This is rather unlikely, as interest payments make up only 10% of spending, but let's say they stop paying anyway.
If they do this, market interest rates for US debt would skyrocket, meaning the only buyer left at rates the Treasury could afford would be the Fed. In other words, if they default on August 2nd, QE3 will start on August 3rd. Of course, a default would be absolutely devastating to the dollar and a boon for gold and silver. Global confidence in the invincibility of the United States would be shattered, andthe underlying problem of excessive spending would still remain to be addressed.
Another interesting scenario would be if Congress didn't raise the debt ceiling and the Treasury just kept borrowing anyway. It's not like the Executive Branch follows laws scrupulously nowadays. What if they just ignored it? Someone could challenge the act in federal courts, but the odds are often in the President's favor. In this case, gold and silver might experience less of an initial spike, but their long-term prospects would be elevated as the world recognized that we were one step closer to becoming a banana republic.
BULLISH GOLD CASE #2: DEBT CEILING RAISED - SYMBOLIC CUTS IN SPENDING
This scenario is by far the most likely outcome of the debt talks in Washington; they will raise the debt ceiling and make spending cuts which sound substantial, but which only mange to slow the accumulation of new debt.
The plans on the table suggest cutting a couple trillion in cumulative spending over the next decade. In other words, they propose cuts that only reduce deficits by about 10-20%; they do nothing to reduce actual debt levels. So if these talks are successful, then instead of a $1.5 trillion deficit each year, perhaps we only suffer a $1.2 trillion deficit. Meanwhile, the debt continues growing. This is "success" in Washington.
Clearly, this is bullish for precious metals. It means more of the same - more spending, more debt, and necessarily more money-printing.
THE EMPIRE HAS NO CEILING
Over the past 50 years, the US debt ceiling has been raised over 70 times. In other words, there is no ceiling at all - it is as fictitious as the idea that central planning works, or that the US has anything resembling a "free market."
So, I guess it stands to reason that regardless of the debt ceiling increase, it is likely that the US will be downgraded by one or more ratings agencies. The effect will be massive because the world's largest pension, mutual, and sovereign wealth funds typically mandate investment only in AAA-rated securities. A downgrade of US debt means those funds must immediately sell off their primary reserve asset. The effect of this cannot be overstated, and gold would be the first and best refuge for an onslaught of orphaned capital.
Despite gold once again hitting new highs, I can only recommend my readers continue to keep a healthy portion of their portfolio in precious metals. Given the sad realities of the US fiscal and monetary situation, it's prudent to assume that nothing will be solved by August 2nd.
GOLD AND SILVER BEYOND THE LIMIT
by Peter Schiff
Perhaps the debt ceiling should be renamed the "national debt target," for it seems Washington is always trying to reach it. One could say it's their only reliable, time-tested achievement. And without fail, upon reaching their national debt target, they promptly extend it further in order to discover how quickly it can once again be attained!
While I have little doubt that the ceiling will be raised, my readers have been curious as to the implications for gold in each of the debt and "default" scenarios possible after August 2nd. This month, I'll outline how each outcome could affect the price of gold and silver.
BEARISH GOLD CASE #1: DEBT CEILING NOT RAISED - ENOUGH CUTS MADE TO AVERT DEFAULT
My readers know that this scenario is actually what the US government should do. The debt ceiling should not be increased and massive cuts must be made. We know this outcome is extremely unlikely - it would require not only a resolute steadfastness to sound money, but also a 180-degree change of philosophical beliefs by the majority of Congress (and the American public) overnight.
Yet in our fantasy world, if this did occur, it would be bearish for gold. It would mean the US government was shrinking, that debts were being paid, that the entire US economy was becoming more solvent and viable. Gold would be less important to own, as the risk of both currency crises and sovereign debt crises would be lower.
BEARISH GOLD CASE #2: DEBT CEILING RAISED - FEDERAL BUDGET BALANCED
If the debt ceiling is raised in order to avert imminent default, but the spare time is used to truly bring the federal budget into balance, the US economy might still be saved. But when I say "balanced," I mean it. This would mean not only eliminating the entire $1.5 trillion deficit, but also leaving enough of a surplus to cover all outstanding debt and unfunded liabilities. For perspective, Senator Rand Paul's proposal to but $500 billion a year, widely considered more radical than landing a man on Mars, would only address 1/3 of the annual deficit - it would take cuts many times that for the US to return to solvency.
But let's be optimistic: if the budget could be balanced, then the fact that the debt ceiling was being increased yet again would not be so awful. Since the US government's fiscal policies would be completely reversed, we could expect to start seeing a strengthening of the dollar (so long as Bernanke stopped the printing presses too) and a weakening of gold and silver.
However, this is just as much of a pipe dream as the first scenario. No government in history has dug itself out of the hole we now face without defaulting. If Congress even tried to enact a plan like this, people would be rioting in the streets over their lost entitlements. And we'd suddenly have millions of unemployed soldiers. Not exactly a recipe for peace and prosperity.
BULLISH GOLD CASE #1: DEBT CEILING NOT RAISED - US DEFAULTS ON TREASURY DEBT
This is the scenario that President Obama and Secretary Geithner are threatening. They claim that if the debt ceiling is not raised, they will have to immediately begin defaulting on Treasury interestpayments. This is rather unlikely, as interest payments make up only 10% of spending, but let's say they stop paying anyway.
If they do this, market interest rates for US debt would skyrocket, meaning the only buyer left at rates the Treasury could afford would be the Fed. In other words, if they default on August 2nd, QE3 will start on August 3rd. Of course, a default would be absolutely devastating to the dollar and a boon for gold and silver. Global confidence in the invincibility of the United States would be shattered, andthe underlying problem of excessive spending would still remain to be addressed.
Another interesting scenario would be if Congress didn't raise the debt ceiling and the Treasury just kept borrowing anyway. It's not like the Executive Branch follows laws scrupulously nowadays. What if they just ignored it? Someone could challenge the act in federal courts, but the odds are often in the President's favor. In this case, gold and silver might experience less of an initial spike, but their long-term prospects would be elevated as the world recognized that we were one step closer to becoming a banana republic.
BULLISH GOLD CASE #2: DEBT CEILING RAISED - SYMBOLIC CUTS IN SPENDING
This scenario is by far the most likely outcome of the debt talks in Washington; they will raise the debt ceiling and make spending cuts which sound substantial, but which only mange to slow the accumulation of new debt.
The plans on the table suggest cutting a couple trillion in cumulative spending over the next decade. In other words, they propose cuts that only reduce deficits by about 10-20%; they do nothing to reduce actual debt levels. So if these talks are successful, then instead of a $1.5 trillion deficit each year, perhaps we only suffer a $1.2 trillion deficit. Meanwhile, the debt continues growing. This is "success" in Washington.
Clearly, this is bullish for precious metals. It means more of the same - more spending, more debt, and necessarily more money-printing.
THE EMPIRE HAS NO CEILING
Over the past 50 years, the US debt ceiling has been raised over 70 times. In other words, there is no ceiling at all - it is as fictitious as the idea that central planning works, or that the US has anything resembling a "free market."
So, I guess it stands to reason that regardless of the debt ceiling increase, it is likely that the US will be downgraded by one or more ratings agencies. The effect will be massive because the world's largest pension, mutual, and sovereign wealth funds typically mandate investment only in AAA-rated securities. A downgrade of US debt means those funds must immediately sell off their primary reserve asset. The effect of this cannot be overstated, and gold would be the first and best refuge for an onslaught of orphaned capital.
Despite gold once again hitting new highs, I can only recommend my readers continue to keep a healthy portion of their portfolio in precious metals. Given the sad realities of the US fiscal and monetary situation, it's prudent to assume that nothing will be solved by August 2nd.
As mentioned, I bought additional silver by buying iShares Silver Trust yesterday at US$39.50. Now my silver holdings constitutes 7% of my wealth, while Gold remains at 2%. My gold holdings is at average price of about US$800 only.
The lowest price I paid for Silver was US$10, so emotionally, it is quite difficult for me to make the decision to buy additional silver at US$39.50 yesterday...Emotional Control is the most difficult to learn and master in the Art of Investing. It is something that you need to experience to learn yourself and cannot be taught.
Basically, I tell myself to forget what price I paid for Silver previously. That based on current situation and analysis, would Silver be Buy/Sell/Hold? And then made the decision and take action accordingly.
As I mentioned, my opinion is once silver cross above US$41, next target is US$45, then US$49...that's why I bought some Silver yesterday to boost my silver holdings.
Cheers!
Dennis Ng
The lowest price I paid for Silver was US$10, so emotionally, it is quite difficult for me to make the decision to buy additional silver at US$39.50 yesterday...Emotional Control is the most difficult to learn and master in the Art of Investing. It is something that you need to experience to learn yourself and cannot be taught.
Basically, I tell myself to forget what price I paid for Silver previously. That based on current situation and analysis, would Silver be Buy/Sell/Hold? And then made the decision and take action accordingly.
As I mentioned, my opinion is once silver cross above US$41, next target is US$45, then US$49...that's why I bought some Silver yesterday to boost my silver holdings.
Cheers!
Dennis Ng
Dennis Ng wrote:18 Aug 2011
It's just a matter of time Gold prices hit above US$1,800 and Silver to hit above US$45...just wait and see.
Once breaks above these prices, next target for Gold will be US$2,000 and US$70 for Silver.
On the other hand, if Gold break below US$1,400 and if silver break below US$30, then uptrend is over. Run for exit.
Please note that Real Investors always already prepared an exit strategy before they enter into any investment. While the average person just invest based on "Hope and Pray" strategy.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Hi all,carpio wrote:Hi All,
Just to share that UOB Silver Passbook Account is still open for application but trading day has shortened from Monday to Friday working hours only.
Regards,
Alvin
I found out another way to invest into Silver, by buying through CMC Markets, can even buy other commodities eg. Brent Crude Oil, Copper, Coffee etc.
If you want to buy silver, basically you just pay Silver spot price plus 0.1% Commission, yes so low that I can't believe it myself, and there is NO minimum Commission eg. min S$25 for stock trading.
If you buy with ZERO leverage, there is no financing or additional holding cost. Good news is you can even do specific amount investment eg. S$300, they would just help you buy a fraction of the unit, no need to buy by ounce.
See below posting I made this morning.
Cheers!
Dennis Ng
Hi walkinepark,walkinepark wrote:Just tried the demo on CMC Markets.
I must say the user interface is light-years ahead of POEMS!
though... i can't seem to find Singapore index in the indices library. Seems we can only short the other countries indices available.
Cheers
CMC Markets told me that STI index should be available in the next 1 to 2 months, currently not available. Currently, other index available, eg. you can short Dow index, S & P 500 etc...
I just realised in their latest platform, one can choose level of Leverage, up to 95% max or lowest ZERO leverage. So for investors like myself who do NOT leverage in the market, I can choose ZERO leverage.
You can simply choose the level of Leverage for each transaction by moving a toggle bar from 0% Leverage to 95% Leverage. eg. can choose 50% Leverage, 70% Leverage, etc, etc...very simple to use, simply amazing when they show me.
And if you Leverage, (the interest rate they charge is SIBOR + 2%, SIBOR currently is about 0.3%, or total interest of about 2.3% per year. eg. if you buy and sell within 1 month, the interest you pay will be 1/12 x 2.3% x amount Leverage (borrowed).
I personally do NOT use Leverage when I invest into stock markets though, as I do NOT want additional risks to investing and only prefer to invest based on what I can afford to lose myself.
One can also do regular investment eg. S$300 per month to buy into eg. Silver, or S & P 500 index etc, very good and much better than Unit Trust, in my opinion.
If one buy silver without Leverage, then it is similar to just buying silver at eg. iShares Silver Trust, but advantage is you buy/sell at the Silver Spot Price plus 0.1% commission only!
I just opened CMC Market account yesterday and I have to say I was pretty impressed in the short 5 minute explanation they gave me (due to time constraint and other people also want to sign up, no time for them to explain more).
Other advantage they told me include that commission is only 0.1% with NO minimum commission...wow, wonder what will happen to future business of Remisers with commission at 0.275% and min commission of S$25...
eg. if you buy through CMC Markets shares worth eg. total S$3,000, 0.1% commission works out to only S$3!
And if one buy stocks through CMC, one also get the dividends, only thing one loses out is the Right to vote at AGM.
Any seminar graduate if interested to find out more about CMC Markets account or want to consider opening account with them, can just email me your name and mobile number to me at dennis@MasterYourFinance.com and I will ask CMC Markets staff to contact you directly, to explain more to you, on a no-obligation basis.
Advantage is for my seminar graduates, only need min deposit of S$1,000 to open the account instead of min S$2,000 by members of the public.
Min deposit is to make sure that if you "Run away" after losing money, min CMC can get back S$1,000.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
More about CMC, visit Alex Yeo's web site regarding CMC Markets Singapore – A Personal Review :
http://www.alexyeo.com/cmc-markets-singapore-review/
http://www.alexyeo.com/cmc-markets-singapore-review/
Hi all,
Good News!
CMC Markets has made it easy for my seminar Graduates to sign up for and open CMC Markets account, you can just do it yourself. But in order that you can be entitled to the Special only minimum deposit of S$1,000 available for my seminar graduates, they provided this special link where they know that people who sign up from here are my seminar graduates:
Just go to this link to Register an account with CMC Markets:
http://goo.gl/l65up
Once your account is opened, they will communicate further with you via email and also provide contact number for you to contact if you have further queries.
So this will be much faster than if you email your info to me and I email them and then they need to try to contact you...
Cheers!
Dennis Ng
Good News!
CMC Markets has made it easy for my seminar Graduates to sign up for and open CMC Markets account, you can just do it yourself. But in order that you can be entitled to the Special only minimum deposit of S$1,000 available for my seminar graduates, they provided this special link where they know that people who sign up from here are my seminar graduates:
Just go to this link to Register an account with CMC Markets:
http://goo.gl/l65up
Once your account is opened, they will communicate further with you via email and also provide contact number for you to contact if you have further queries.
So this will be much faster than if you email your info to me and I email them and then they need to try to contact you...
Cheers!
Dennis Ng
Dennis Ng wrote:Hi walkinepark,walkinepark wrote:Just tried the demo on CMC Markets.
I must say the user interface is light-years ahead of POEMS!
though... i can't seem to find Singapore index in the indices library. Seems we can only short the other countries indices available.
Cheers
CMC Markets told me that STI index should be available in the next 1 to 2 months, currently not available. Currently, other index available, eg. you can short Dow index, S & P 500 etc...
I just realised in their latest platform, one can choose level of Leverage, up to 95% max or lowest ZERO leverage. So for investors like myself who do NOT leverage in the market, I can choose ZERO leverage.
You can simply choose the level of Leverage for each transaction by moving a toggle bar from 0% Leverage to 95% Leverage. eg. can choose 50% Leverage, 70% Leverage, etc, etc...very simple to use, simply amazing when they show me.
And if you Leverage, (the interest rate they charge is SIBOR + 2%, SIBOR currently is about 0.3%, or total interest of about 2.3% per year. eg. if you buy and sell within 1 month, the interest you pay will be 1/12 x 2.3% x amount Leverage (borrowed).
I personally do NOT use Leverage when I invest into stock markets though, as I do NOT want additional risks to investing and only prefer to invest based on what I can afford to lose myself.
One can also do regular investment eg. S$300 per month to buy into eg. Silver, or S & P 500 index etc, very good and much better than Unit Trust, in my opinion.
If one buy silver without Leverage, then it is similar to just buying silver at eg. iShares Silver Trust, but advantage is you buy/sell at the Silver Spot Price plus 0.1% commission only!
I just opened CMC Market account yesterday and I have to say I was pretty impressed in the short 5 minute explanation they gave me (due to time constraint and other people also want to sign up, no time for them to explain more).
Other advantage they told me include that commission is only 0.1% with NO minimum commission...wow, wonder what will happen to future business of Remisers with commission at 0.275% and min commission of S$25...
eg. if you buy through CMC Markets shares worth eg. total S$3,000, 0.1% commission works out to only S$3!
And if one buy stocks through CMC, one also get the dividends, only thing one loses out is the Right to vote at AGM.
Any seminar graduate if interested to find out more about CMC Markets account or want to consider opening account with them, can just email me your name and mobile number to me at dennis@MasterYourFinance.com and I will ask CMC Markets staff to contact you directly, to explain more to you, on a no-obligation basis.
Advantage is for my seminar graduates, only need min deposit of S$1,000 to open the account instead of min S$2,000 by members of the public.
Min deposit is to make sure that if you "Run away" after losing money, min CMC can get back S$1,000.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Hi Dennis,Dennis Ng wrote: As I mentioned, my opinion is once silver cross above US$41, next target is US$45, then US$49...that's why I bought some Silver yesterday to boost my silver holdings.
Cheers!
Dennis Ng
Would you elaborate on your opinion of Silver prices of US$41, US$45 and US$49 at US$4 increment level each?
I did a search on Kitco for Silver historical chart from Feburary to April 2011 (choose this period as the run-up of silver prices was fast -from US$28 to around US$49). The best i could co-related with US$4 incremental factor was it took around 2-3 weeks for Silver price to hit US$4 and more before proceeding its run-up.
The purpose of my question is to understand your mindset and learn how to define critical price point and/or pricing psychology.
Thank you for your enlightenment.
Hi dvortex,dvortex wrote:Hi Dennis,Dennis Ng wrote: As I mentioned, my opinion is once silver cross above US$41, next target is US$45, then US$49...that's why I bought some Silver yesterday to boost my silver holdings.
Cheers!
Dennis Ng
Would you elaborate on your opinion of Silver prices of US$41, US$45 and US$49 at US$4 increment level each?
I did a search on Kitco for Silver historical chart from Feburary to April 2011 (choose this period as the run-up of silver prices was fast -from US$28 to around US$49). The best i could co-related with US$4 incremental factor was it took around 2-3 weeks for Silver price to hit US$4 and more before proceeding its run-up.
The purpose of my question is to understand your mindset and learn how to define critical price point and/or pricing psychology.
Thank you for your enlightenment.
it just happens to be US$4, just a coincidence. I didn't even realise this until you pointed it out.
In past few months, whenever Silver price approaches close to US$41, it retreats, so once hit above US$41, looks like the next resistence level is US$45....the last round it hit around US$49, it fell all the way back to US$33....so this explains why I think if it goes above US$45, US$49 is the next resistence level.
For Gold, you might remember that I said that when Gold prices hit above US$1,550, likely to head towards US$1,700, and if break above US$1,700, then US$2,000 is the next target... so the price range has no similarity, at all.
Investing is partly an art, not a Science. If you still think there are exact Science to Investing, you're on the wrong track.
Last edited by Dennis Ng on Tue Aug 23, 2011 2:05 pm, edited 1 time in total.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Hi David,Davidlee wrote:More about CMC, visit Alex Yeo's web site regarding CMC Markets Singapore – A Personal Review :
http://www.alexyeo.com/cmc-markets-singapore-review/
That's actually my website. haha.
But after written the review just not too long ago, it is a bit out-dated already. I am still using the old platform. Might to edit once I got to upgrade to the new Next Gen platform.
http://www.alexyeo.com - Ramblings of an Internet marketer and His Life
zipink wrote:Hi David,Davidlee wrote:More about CMC, visit Alex Yeo's web site regarding CMC Markets Singapore – A Personal Review :
http://www.alexyeo.com/cmc-markets-singapore-review/
That's actually my website. haha.
But after written the review just not too long ago, it is a bit out-dated already. I am still using the old platform. Might need to edit once I got to upgrade to the new Next Gen platform.
http://www.alexyeo.com - Ramblings of an Internet marketer and His Life
Hi Dennis,Dennis Ng wrote:Hi dvortex,dvortex wrote:Hi Dennis,Dennis Ng wrote: As I mentioned, my opinion is once silver cross above US$41, next target is US$45, then US$49...that's why I bought some Silver yesterday to boost my silver holdings.
Cheers!
Dennis Ng
Would you elaborate on your opinion of Silver prices of US$41, US$45 and US$49 at US$4 increment level each?
I did a search on Kitco for Silver historical chart from Feburary to April 2011 (choose this period as the run-up of silver prices was fast -from US$28 to around US$49). The best i could co-related with US$4 incremental factor was it took around 2-3 weeks for Silver price to hit US$4 and more before proceeding its run-up.
The purpose of my question is to understand your mindset and learn how to define critical price point and/or pricing psychology.
Thank you for your enlightenment.
it just happens to be US$4, just a coincidence. I didn't even realise this until you pointed it out.
In past few months, whenever Silver price approaches close to US$41, it retreats, so once hit above US$41, looks like the next resistence level is US$45....the last round it hit around US$49, it fell all the way back to US$33....so this explains why I think if it goes above US$45, US$49 is the next resistence level.
For Gold, you might remember that I said that when Gold prices hit above US$1,550, likely to head towards US$1,700, and if break above US$1,700, then US$2,000 is the next target... so the price range has no similarity, at all.
Investing is partly an art, not a Science. If you still think there are exact Science to Investing, you're on the wrong track.
Many thanks for your selfless sharing all the time.
i am a novice in investment and have never been through the market cycle before. i am wondering if silver can potentially go up to US$70 base on the gold to silver ratio, will silver be in time to reach its peak since the market seems to be signaling a downtrend now and silver move always lag behind gold?
Hi slee,slee wrote:
Hi Dennis,
Many thanks for your selfless sharing all the time.
i am a novice in investment and have never been through the market cycle before. i am wondering if silver can potentially go up to US$70 base on the gold to silver ratio, will silver be in time to reach its peak since the market seems to be signaling a downtrend now and silver move always lag behind gold?
you're welcome.
Why guess? Why worry?
The charts will tell us so when 50 day MA cuts 200 day MA.
Go to this link: http://stockcharts.com/h-sc/ui?s=$SILVE ... 6842060030
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Thanks dennis. I remember you mentioned before that if market crash, all will crash as well including silver and gold. So market seems to be going downtrend now and i will presume silver and gold will follow suit. But apparently, gold and silver continue to be bullish (understand from other posting that is due to the lost of confidence in the stock market and investor shifting to metals). So wondering againDennis Ng wrote:Hi slee,slee wrote:
Hi Dennis,
Many thanks for your selfless sharing all the time.
i am a novice in investment and have never been through the market cycle before. i am wondering if silver can potentially go up to US$70 base on the gold to silver ratio, will silver be in time to reach its peak since the market seems to be signaling a downtrend now and silver move always lag behind gold?
you're welcome.
Why guess? Why worry?
The charts will tell us so when 50 day MA cuts 200 day MA.
Go to this link: http://stockcharts.com/h-sc/ui?s=$SILVE ... 6842060030
in the past is the market cycle like this too....market peak ->market signal downtrend-> metals peak -> market crash -> metals crash . 
This Crisis might be different from the last one as we would have inflation and also worry about currency value, which we didn't have in the last Round.slee wrote:Thanks dennis. I remember you mentioned before that if market crash, all will crash as well including silver and gold. So market seems to be going downtrend now and i will presume silver and gold will follow suit. But apparently, gold and silver continue to be bullish (understand from other posting that is due to the lost of confidence in the stock market and investor shifting to metals). So wondering againDennis Ng wrote:Hi slee,slee wrote:
Hi Dennis,
Many thanks for your selfless sharing all the time.
i am a novice in investment and have never been through the market cycle before. i am wondering if silver can potentially go up to US$70 base on the gold to silver ratio, will silver be in time to reach its peak since the market seems to be signaling a downtrend now and silver move always lag behind gold?
you're welcome.
Why guess? Why worry?
The charts will tell us so when 50 day MA cuts 200 day MA.
Go to this link: http://stockcharts.com/h-sc/ui?s=$SILVE ... 6842060030
Anyway, as I said, NO need to guess, the charts will tell us when to exit.
Cheers!
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.
Dennis Ng - When You Master Your Finances, You Master Your Destiny
Note: I'm just sharing my personal comments, not giving you investment advice nor stock investment tips.