First, it's likely (not unlikely, to use a figure of speech called litotes) that they will fall back briefly to touch back to their bottom before they take off. For gold, a close over 650 is the first barrier, then 667. For silver, 1310, then 1380.
Risk walks with you wherever you go, regardless where you pick up the road, so there's risk here, too. But I would buy silver & gold at these prices.
By the way, no matter what anybody else tells you, the lowest cost, most divisible, most liquid way to buy physical silver remains US 90% silver coins -- dimes, quarters, or halves minted before 1965. Stick with the 90% coin. In gold, buy the lowest premium gold coins: Krugerrands, Austrian 100 coronas, Mexican 50 pesos, British sovereigns, French 20 francs -- all low premium coins. Remember Franklin's rule: over time, premium always disappears.
Today's move in STOCKS, the Dow up 26.28, doesn't mean much. That probably marks the extent of the rebound off the lows, and the Dow will now fall back to re-test recent lows around 12,050. It will keep on re-testing until it falls. I'm beginning to think we have seen the highs of the recovery. Swap stocks for silver & gold.
The DOW IN GOLD DOLLARS fell today. Having failed at G$436 (21.09 oz), at G$425 (20.56), and G$400(19.35 oz), the DiG$ is now working on failure around G$390 (18.87 oz). However, there's very little support beneath it, so when it plunges it will be fast & bloody.
Thanks to all of y'all who wrote to express your sympathy for the loss of our Great Pyrenees dog. In the 9 years she lived with us, Cleo was a great dog, full of peace, smiling to meet us, rich in puppies who still bless many lives, fierce with coyotes, gentle with children. I saw her once dancing with our male Pyrenees, Orion, in the twilight pasture. Dancing. I will never forget it.
I take great comfort in the words of Psalm 36, "The Lord shalt save both man & beast: how excellent is thy mercy, O God!" If God himself is not ashamed to care for beasts, why should I be?
Argentum et aurum comparenda sunt -- -- Gold and silver must be bought.
- Franklin Sanders, The Moneychanger
"Buy Silver and Gold Coins at the Best Prices"
http://the-moneychanger.com/
To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold's primary trend is up, targeting at least $1,250.00; silver's primary is up targeting 16:1 gold/silver ratio or $78.13; stocks' primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate in a bubble, primary trend way down.
