Friday, November 19, 2010

Precious Metals

Man, it's been a while since I posted. Lots of news and it will take a few posts to catch up.

Silver and precious metals have been on fire.

Silver is up over 60% this year with inflation fears and the fed destroying the American dollar buy running the printing presses at full throttle.

Silver closed today at $27.33 an ounce. Gold at $1354.

Silver American Eagles are running at over $31 ( I bought some last month at a little over $28).

I like owning silver bullion. I get some satisfaction of being able to hold real value in my hand. Definetly more rewarding then a paper asset. I plan on adding more PM's but will look to do this on dips. I have my eye on 90% silver coins. Currently going for $2k for $100 face generic bag.

Dont fight the fed

Funny (and very sad) video on QE2: