Silver Values

Well, those of us who hold a little bit of precious metals as insurance against a total meltdown of the US dollar and stock market are probably a bit relieved to see the price (as stated in US dollars) of gold rebound a bit. As of this writing, it is a hair over $900, and I’m not sure we believed we would see that price again soon. Oh, I know lots of us will argue that we’d rather hold strong dollars and see gold looking cheap, but if we can’t have that, well we have something…..

But here’s the thing. A lot of silver watches argue that the white stuff has not made the same rebound as the yellow stuff, and that the price should be at least $17 an ounce now, and not just over $13. Of course, we cannot always pinpoint the price of silver by the price of gold, but they tend to move together in a loose way.

So, is this the time to load up on silver? My crystal ball got damaged in hurricane Ike. If you have an idea, feel free to comment here!

OK, this auction looks very fishy to me. Now you have all heard of the GOLD ETF where you buy shares of “paper gold”. But here is a guy on EBay who is setting up his own paper gold company. Paper Gold On EBay.

The auction says that you are bidding on a certificate of ownership for each ounce of old you purchase. They will store the actual gold until the time you sell it back to them. Right now, the auction is selling this ‘ownership’ at $940, but Kitco says an ounce of gold should be a hair over $800. And the seller says they will buy the shares back for $40 less than spot. So right away, your $940 ‘gold ownership’ investment will be worth a bit more than $760.

Now this guy has 5 figures of positive feedback, and does sell physical too. But I cannot imagine that this is a good idea. Yah know? Just sayin’…..