Yeah...I cant believe I bought all that silver at $50 per oz in 1980. What a mistake that was! But to be fair...I WAS only 5 years old.
Gold and Silver have had some liquidation in the past week as Gold prices have come down significantly from their highs as this market now trades $1,337, which is almost $100 lower from where the price was last week. "Silver for immediate delivery in London fell 0.3 percent to $25.39 an ounce. It reached a 30-year high of $29.39 last week and is up 50 percent this year. Palladium declined 0.5 percent to $639.50 an ounce. Platinum was little changed at $1,643.38 an ounce after falling as far as $1,625.50, the lowest level since Sept. 28." (1) Gold has huge support at the $1,317 level and I would suggest buying calls when the price gets around this level as prices will likely rebound from the latest sell off. The Euro/USd has been hanging on to slight gains this morning but I believe one can see this market reach $1.3400 today before all is said and done. Here it is, Copper at $3.65, I didn't really think this would happen that quick but again with these market you just really never know. Equities are right now slightly higher this morning, and I feel Copper has great support at the $3.60 level, so look to either exit shorts or pick some of the base metal back up there.