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Post by jeffolie on Oct 2, 2009 9:10:09 GMT -6
Silver dipped into the $15 handle in the last 5 trading days much as I predicted. Silver is in a holding position in the $16 range. I expect little upward movement in the near future as accelerating bad employment and wage news will lead to an expectation of dismal Christmas jewerly sales.
I am noticing a significant increase in colored gemstone sales through the cable channels with increased prices on ebay as well. Activity seems to be focused on Tanzanite, Paraiba Tourmaline (this is taking off), Spinel, and Spessartite/Manderin Orange Garnet.
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Post by jeffolie on Oct 9, 2009 19:07:44 GMT -6
Silver is progressing nicely toward my predicted $18.50 area. I expect some corrections along the way.
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Post by jeffolie on Oct 15, 2009 8:50:00 GMT -6
jeffolie predicted $18.50 silver in this very thread in May when silver had a $13 handle and was attempting to breakout into a $14.00 handle.
Silver is meeting resistence at just above $18.00. It may take repeated pullbacks and attempts to break though above this resistence.
The precious metals and oil have been rising as a play against the falling dollar. All of these trends are technically very over sold and subject to a reversal at any time. The trend is firmly in place for each but pullbacks are normal in the maintaining of a trend. What usually happens is what usually happens. I still predict $18.50 silver.
I have been buying hundreds of dollars worth of gemstones on ebay. This is a flaky approach and not for the weak and ignorant. Jewelry Television has been selling out of paraiba tourmaline for about $1000 per carat while I have been paying as little as $8 per carat for small gemstones and $40 per carat for medium to large paraiba tourmaline. The foreign sellers are the only game in town on ebay since these pieces are mined overseas and the jewelry processing is cheaper overseas. There is a lot of fraud. I have gotten many refunds over gemstones so this is an unreliable investment. I have had the best paraiba tourmaline gemstones I bought on ebay appraised and have had excellent profits. Other gemstones I have been buying are tanzanite, spinel and mandarian orange garnet. I am not advising anyone to invest in this unreliable, risky area but the profits are high. And I have stopped buying gemstones on ebay.
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