Dang! Silver is way down!

PerryHall · September 19, 2014 1:06AM

Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices?

shorecoll · September 19, 2014 1:16AM

Under $18 at APMEX. Likely will pop back a little? Somebody must have dumped a chunk since BABA is now forecast to open over $90.

piecesofme · September 19, 2014 1:57AM

The axe has been being sharpened, and now it appears time to CUT! But that's the paper price, not the physical.
I view this as a tremendous buying opportunity and a chance to cost avg. being into most of my non-collectible silver at roughly somewhere in the $21's. I also think this will be a revisit of 2008 and 2009 when a 10 oz bar was going for nearly a Spot + $5/oz premium. So even with a widened premium on physical, it's still a great buying opportunity. All jmho.

guitarwes · September 19, 2014 2:13AM

<< Anyone still buying at these fire-sale prices? >>

Everyone's buying the new glitzy shiny BABA. The luster will wane soon.

PerryHall · September 19, 2014 6:37AM

<< 

<< Anyone still buying at these fire-sale prices? >>

Everyone's buying the new glitzy shiny BABA. The luster will wane soon. >>

Yup. They're dumping gold and silver to buy something far more substantial like Alibaba stock.

Kip · September 19, 2014 6:49AM

<< Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>

Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!!

BAJJERFAN · September 19, 2014 7:05AM

<< 

<< Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>

Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!! >>

SDBullion was at $402 a roll for 2014 ASEs not a half hour ago. Not no more.

BAJJERFAN · September 19, 2014 7:10AM

<< 

<< Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>

Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!! >>

Makes you wonder how long the mint can continue to sell silver products without incurring a loss.

jmski52 · September 19, 2014 8:32AM

Makes you wonder how long the mint can continue to sell silver products without incurring a loss.

"The Coming Silver Shortage" by ..............pick one:

1) Peter Schiff

2) Doug Casey

3) Jason Hommel

4) Marc Faber

5) Jimmy Rogers

Tomohawk · September 19, 2014 10:06AM

<< Makes you wonder how long the mint can continue to sell silver products without incurring a loss.

"The Coming Silver Shortage" by ..............pick one:

1) Peter Schiff

2) Doug Casey

3) Jason Hommel

4) Marc Faber

5) Jimmy Rogers >>

Yeah...I can't get away from the dire predictions on some websites, and the "sky's the limit" on others. Confused...

derryb · September 19, 2014 10:14AM

<< 

<< Makes you wonder how long the mint can continue to sell silver products without incurring a loss.

"The Coming Silver Shortage" by ..............pick one:

1) Peter Schiff

2) Doug Casey

3) Jason Hommel

4) Marc Faber

5) Jimmy Rogers >>

Yeah...I can't get away from the dire predictions on some websites, and the "sky's the limit" on others. Confused... >>

let history be your guide

Baley · September 19, 2014 10:23AM

history of the past 5 years:

then there's the history of silver prices 1982-2003.

wai... wha?

OnlyGoldIsMoney · September 19, 2014 10:36AM

I expect to add another 500 ounces in the next few weeks.

VanHalen · September 19, 2014 10:49AM

I remember August of 2010 well. 50ozers were $900 delivered. It's the last time I bought for long term holding.

vpr · September 19, 2014 12:31PM

Those high premiums are nowhere to be seen. Some great deals out there.

unknowncomic · September 19, 2014 1:10PM

I don't understand why its dropping like it is. I haven't bought any.
It usually waits until I buy 50 or more ounces before it tanks like this.
I should sell so it will go back up.

BAJJERFAN · September 19, 2014 1:33PM

<< Makes you wonder how long the mint can continue to sell silver products without incurring a loss.

"The Coming Silver Shortage" by ..............pick one:

1) Peter Schiff

2) Doug Casey

3) Jason Hommel

4) Marc Faber

5) Jimmy Rogers >>

I wasn't thinking shortage. I was thinking what is the average cost per ounce of the silver that the Mint is using now. Until this week, silver hasn't been under $18 since mid August of 2010 if I read the 5 year price history correctly.

derryb · September 19, 2014 2:32PM

how soon we forget that silver went from roughly $18 to nearly $50 within 9 months.

cohodk · September 19, 2014 2:44PM

<< how soon we forget that silver went from roughly $18 to nearly $50 within 9 months. >>

I see you fixed your rose colored glasses.

derryb · September 19, 2014 3:01PM

<< 

<< how soon we forget that silver went from roughly $18 to nearly $50 within 9 months. >>

I see you fixed your rose colored glasses.

>>

I keep a special gold trimmed pair just for the metals.

TwoSides2aCoin · September 20, 2014 1:17AM

Good buys are everywhere. Just like good-byes, in a way.

johnny9434 · September 20, 2014 1:34AM

$12 silver would be nice. so wouldnt $50. who knows for sure

luckybucks · September 20, 2014 3:03AM

Dang ! Silver is way down!

time to buy more......LOTS more.

Dang! Gold is way down! Time to buy LOTS more of that too.

michiganboy · September 21, 2014 7:19AM

Funny thing is I kept telling everyone is was gonna go back down to $18 and most thought I was way wrong. Nows it$17 something and $12 is coming, I would neither sell nor buy right now if I you.

morgansforever · September 21, 2014 9:44AM

I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels.

michiganboy · September 21, 2014 10:13AM

<< I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels. >>

I would wait a little longer, its in the cards to at least reach $15 before it goes back up. Of course it will go and and down in the mean time, like tomorrow will probably be back at $18, only because it reached $17 and people started buying.

Pokermandude · September 21, 2014 11:11AM

<< I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels. >>

I couldn't have summed up my own situation any better than this^

In for an oz, in for a pound!

rawteam1 · September 21, 2014 11:30AM

New lows the short term norm now....

bronco2078 · September 21, 2014 11:50AM

New lows are okay with me I just got some 90% quarters off ebay for below melt I'm happy. I had a random lot of quarters on my watch list that was over priced the seller just dropped his BIN tonight by $30 .

I've seen that a few times and taken advantage. Something spooked him and he decided they had to go right now

OPA · September 21, 2014 12:16PM

<< New lows are okay with me I just got some 90% quarters off ebay for below melt I'm happy. I had a random lot of quarters on my watch list that was over priced the seller just dropped his BIN tonight by $30 .

I've seen that a few times and taken advantage. Something spooked him and he decided they had to go right now >>

He obviously had more foresight than you.
Silver appears to be in a free fall and should drop below $17 this coming week.
My prediction of 2 weeks ago, that gold may break $1200 barrier the following week, was premature. It may do so this week.

rawteam1 · September 21, 2014 12:34PM

I think it's investable time again in silver...
My down side target is much lower, but premiums are so low now it has become another anomaly to consider...

miklia · September 21, 2014 3:14PM

woke up to sub 17.50 this AM. freefall indeed.

PerryHall · September 21, 2014 7:22PM

I wonder if any of the big bullion dealers will go out of business as a result of this drop in bullion prices. It has to be hurting the value of their inventory and their bottom line.

derryb · September 22, 2014 12:31AM

The dollar has pushed silver down.

Keep you eyes on the dollar index, silver will inversely follow

rawteam1 · September 22, 2014 12:34AM

<< The dollar has pushed silver down.

Keep you eyes on the dollar index, silver will inversely follow >>

Is that what pushed it down from April 2011??? Bunch a nonsense...

derryb · September 22, 2014 12:49AM

The posted chart is a one year chart that points out the recent three month spike in the dollar. Compare that to the recent three month 20% decline in spot silver and then re-evaluate your definition of nonsense. Being quick to disagree comes at a cost if you don't first weigh the value of your disagreement.

Fear of inflation pushed metals to new highs. Realization since then that inflation is being delayed has brought them back down to earth. Temporary dollar strength is pushing them below earth. Fundamentals are being ignored. Ignore them at your own risk, they will prove to be the ultimate decider - not your opinion or my opinion.

You continue stacking your dollars, I'll continue stacking my metals. When inflation and dollar destruction explode you won't have enough dollars. I will have more than enough metal. If you don't see price inflation or dollar devaluation in your future then the dollar camp is the place for you. History shows that currency mismanagement will result in inflation and devaluation. I don't agree that this time it is different.

Baley · September 22, 2014 1:06AM

19 was tested and has held a couple times before in the past year, failed this time though..

<<

>>

question that comes to my mind, will 19 now be a ceiling?

rawteam1 · September 22, 2014 1:23AM

wow a 1 year chart...lol...
must be hot and the kool aid iced...

the "dollar" which i have no idea of what u r refering to derryb, maybe u dont either... the dollar basket that trades was higher in april 2010 about 85+, than it is now, and silver was $2+ higher...

just pointing out that u r spouting rhetoric...

derryb · September 22, 2014 1:27AM

If you don't understand the dollar index and its relationship to metals you best stick with your rhetoric and with dollars.

derryb · September 22, 2014 1:29AM

<< 19 was tested and has held a couple times before in the past year, failed this time though..

<<

>>

question that comes to my mind, will 19 now be a ceiling? >>

It will until dollar weakness (euro/pound/yen strength) returns.

rawteam1 · September 22, 2014 1:40AM

<< If you don't understand the dollar index and its relationship to metals you best stick with your rhetoric and with dollars. >>

i do, there isnt one, and there is no exact formula or relationship that u can produce for the forum...
there is only one when one wants there to be one to fit their agenda... hence your one year chart...

derryb · September 22, 2014 1:46AM

For the contrarian of all opinions but his own, here's the five year chart with (SLV in green). While he claims to understand the dollar index and yet sees no relationship to metals, I see an inverse relationship, but it might just be my imagination.

rawteam1 · September 22, 2014 1:57AM

Simple, what's the equation???...

rawteam1 · September 22, 2014 1:59AM

Oh and since it's so exact, point me to your post of selling gold n silver at the highs...
And buying at the lows in 2008...

derryb · September 22, 2014 2:03AM

<< Simple, what's the equation???... >>

simple, A+ = B- or A- = B+

one goes up, the other goes down. If still confused, look up the definition of "inverse relationship."

<< Oh and since it's so exact, point me to your post of selling gold n silver at the highs...And buying at the lows in 2008... >>

I am constantly buying and selling PMs. I buy at all the lows and attempt to sell at all the highs. Been a good business model for many years now with no plans to change it. Volatility, and not a straight shot up, are what make metal trading profitable. I am never exact when it comes to highs or lows, but I do have a good understanding of price direction and its causes. . . do you? If not, give your mouth a break and let your ears do the work.

Leave you with a prediction: Silver (and gold) will continue down if the dollar index holds up. I don't expect it to hold up much longer, which means I am buying at these prices.

guitarwes · September 22, 2014 2:05AM

rt1, I would advise you to eat your cheerios at a different table from now on as someone appears to be peeing in them every single morning.

BAJJERFAN · September 22, 2014 2:07AM

<< Good buys are everywhere. Just like good-byes, in a way. >>

They may not end up being good buys in a couple weeks tho.

rawteam1 · September 22, 2014 2:14AM

Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later...

derryb · September 22, 2014 2:18AM

<< Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later... >>

Let me know when you get there, I impatiently await your advancement and your insight.

Tomohawk · September 22, 2014 2:38AM

<< Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later... >>

Dude...is that because they are upperclassmen to your current educational level? I'm flat tired of your viewpoints laced with vitriol and ignorance. Just because you excel in name calling and misdirection doesn't make your points of view any more/less correct. Give me some meat...I find derryb's inverse comments compelling. I have also learned to listen (read) way more than I talk.

I guess this opens me to your 3rd grade (or 2nd?) ire...fire away.

Dang! Silver is way down!

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