Silver crashing - is it temporary?

RedstoneCoins

Silver is down almost 10%. I was curious if anyone else thinks that 'if it can fall quickly, it can rise quickly'? I'm old enough to remember March 2020, and Silver by May was up quite a bit from the low. Then by August/September through the roof! Does anyone else feel optimistic about Silver prices?

jmski52

I don't think anyone here is in a position to really know what silver might do next. I'm optimistic that silver is a good asset to own however.

Justacommeman

Silver always falls faster then it climbs. Comes with the territory

LukeMarshall

Metals getting hammered across the board today! This on top of the $50 fall in gold yesterday…

Higashiyama

@jmski52 said: “ I don't think anyone here is in a position to really know what silver might do next.”

Agree!

3stars

I'm always amazed that people are still surprised by price movements...

jclovescoins

Who knows...I think silver has a lot of positives going for it, and I surely hope it rises...BUT as someone pointed out, it falls faster than it rises. You'd have to think it can't stay in the mid 20s forever (been here for almost a whole year now). I think either it goes 30+ by the end of the year (my hope) or it falls below 20. A lot of volatility these days.

Baley

I think both spot prices and premiums to spot will decline for common, ordinary, and boring looking forms of silver, while premiums will continue growing strong and stronger for scarce, attractive, and interesting forms of silver that collectors prefer.

2ndCharter

Guess I can't sell my $1,000 bags of 90% to buy that new Bentley yet. Oh, well........

derryb

buy the dip. . . if you can find it in retail.

rte592

@Justacommeman said:
Silver always falls faster then it climbs. Comes with the territory

That's the gravity assist system.

RonB

As @derryb mentioned, buy the dip.
These knee-jerk reactions never last long..

USD is a global wrecking ball right now.
Inflation is real.

Ron

derryb

In the face of very real, rising inflation and very real silver supply concerns the FED floats the prospect of raising rates twice two years from now, and silver takes a big fall? I'm not buying it. Obvious temporary beat down timed with the FEDspeak. Goal: The FED's weak dollar sees less impact from PMs and the Treasury Department's US Mint moves further away from a shortage of silver. Powell and Yellen both get another temporary reprieve.

As I revealed in an earlier thread $28 and $1900 are the current caps. Simply a move by the bullion banks (shorts) and the jawboners to get well below that. I'm a buyer.

There's a reason APMEX still has a 41% premium on a random year ASE and it's not because they are suddenly worth less.

ricko

Buy the dip... Like a rollercoaster, there will be another hill to climb. Cheers, RickO

dcarr

EVERYTHING is temporary.

blitzdude

@jmski52 said:
I don't think anyone here is in a position to really know what silver might do next. I'm optimistic that silver is a good asset to own however.

Don't worry, you might break even by 2031.

TwoSides2aCoin

Lower price means higher stack. Except this time is much different. I used to take delivery in less than a week. Now the premiums are 20% higher, and more; with delivery being 8 weeks out.
Was informed I can't get type 2 eagles until August. But I need to pay today. $10+ over spot. With a two month wait.

pmh1nic

Based on what I've read we mine worldwide about 25,000 tons per year and consume about the same. But that demand may increase dramatically as the shift to green energy accelerates (solar power and electric vehicles) and more electronic devices are developed. That increased would tend to drive up the cost.

jmski52

Obvious temporary beat down timed with the FEDspeak.

Craig Hempke and Eric Sprott discuss this in their weekly wrapup posted on the Zerohedge link to Sprottmoney. Such blatant price manipulation! As Gregory Mannarino says, let them play their game and we'll play ours.

Don't worry, you might break even by 2031.

Don't worry, I'm so far beyond breakeven that the beatdowns are of zero concern. Too bad you've been on the other side of the market, apparently.

thefinn

None of the PMs are crashing. People are taking profits, but just the ebb & flow of markets. The dollar will go up at some time, and may go a bit lower. PMs are still the same - I price them in gasoline, not fiat currencies._

derryb

spot is crashing, not physical PM prices.

meluaufeet

Gold hit the bottom of my risk range so I bought some on Friday. It's just a short term trade for now. Building a position in silver so I bought more SLV also.

HiBucky

Buy Buy Buy lets move the metal bank brokers right into the poor house. Screw the paper silver by keeping the pressure on physical silver has the chosen somewhat concerned. Its time they get spanked. The price will rise watch, when it breaks free get ready for the ride and don't be left out by saying " I should have bought more or I should have held my position" HI-Ho-Silver Away !!!!!!!!!

jmski52

Building a position in silver so I bought more SLV also.

Are you building a trading position, or can you simply not find physical? You must realize that the manipulators use SLV to work against the market position that you are taking.

SLV is just an illusion.

meluaufeet

@jmski52 Phyz is my foundation, SLV , GLD, CEF, etc. is just to trade around the phyz. Yes, I'm aware of SLV vs PSLV. I'm a little early on GLD, and SLV just went from bullish to neutral... but it is late June. As long as I can trade without fees, I'm ok with it for now. Just playing the game in front of me.

jmski52

I know that someday, I'll have to join the games of crypto, etfs and maybe even options. Some day. OTOH, easy come, easy go. I just can't decide how much of that kind of excitement I need in my life.

crazyhounddog

I’ll guarantee you that no one on this earth can predict what silver or gold will do in the future with any accuracy. I see people try to put together some kind of theory but is always fails. I do however get very entertained when they try.

Higashiyama

@crazyhounddog said: "I’ll guarantee you that no one on this earth can predict what silver or gold will do in the future with any accuracy. I see people try to put together some kind of theory but is always fails. I do however get very entertained when they try."

Yes, that is absolutely correct. If anyone could predict the path of any commodity with accuracy, they should make big leveraged "bets" and end up very wealthy. Of course, some commodities traders make good money, but it's not a matter of clairvoyance.

With that said, I'm pretty confident that gold will in the long run track inflation. That belief, of course, does not lead to particularly interesting investment strategies!

cohodk

@crazyhounddog said:
I’ll guarantee you that no one on this earth can predict what silver or gold will do in the future with any accuracy. I see people try to put together some kind of theory but is always fails. I do however get very entertained when they try.

And the beauty of this, is that just as in sports, one can make the hall of fame and be successful by being accurate less than half the time.

MilesWaits

Or barely ever - hence, Cramer.

meluaufeet

You guys trade without a daily risk range?

pmh1nic

@crazyhounddog said:
I’ll guarantee you that no one on this earth can predict what silver or gold will do in the future with any accuracy. I see people try to put together some kind of theory but is always fails. I do however get very entertained when they try.

While I enjoy watching Kitco report on the precious metals market its become pretty clear to me that you're correct. The most knowledgeable people will say one thing one week and the opposite two weeks later. While I believe long term both metals will rise the predictions about what's going to happen over the next few weeks or months is total guesswork. The silver market is relatively small and ripe for manipulation.

jmski52

_ I'm pretty confident that gold will in the long run track inflation. That belief, of course, does not lead to particularly_ interesting investment strategies!

+1

Fundamentals eventually resolve the manipulation. Sometimes, it takes longer than it should.

While I believe long term both metals will rise the predictions about what's going to happen over the next few weeks or months is total guesswork. The silver market is relatively small and ripe for manipulation.

When money is involved, hardly anyone plays fair. Just remember that.

derryb

FED Data Shows a Spike in Repo Loans Is an Early Warning of an Impending Market Crash/

FED's increase in repo loan operations (QE by any other name) indicates it is expecting another massive crisis.

"There’s also a high correlation between periods of extreme official intervention in the precious metals markets using Comex paper derivatives and LBMA unallocated fictitious gold bars. I would suggest that the recent massive interventionary efforts that may have culminated this past Friday and Sunday night are further evidence that a crisis is lurking."

"As Ronan Manly queried: “Or do the central banks know that further market turmoil is imminent and need to take down the gold price so that when the gold price then rises, it will be from a lower level?”

jmski52

the central banks know that further market turmoil is imminent and need to take down the gold price so that when the gold price then rises, it will be from a lower level?

Standard Operating Procedure. How long can they maintain it?

derryb

bullion banks covering their comex shorts in anticipation of a currency event?

blitzdude

@derryb said:
bullion banks covering their comex shorts in anticipation of a currency event?

Doubtful. More likely just typical life in the gutter.

TwoSides2aCoin

Young pups don't know what a crash is.

derryb

buy the crash dip.

TwoSides2aCoin

@blitzdude said:

@jmski52 said:
I don't think anyone here is in a position to really know what silver might do next. I'm optimistic that silver is a good asset to own however.

Don't worry, you might break even by 2031.

I'd rather hold silver and see it drop than hold cash and see it evaporate from inflation

blitzdude

@TwoSides2aCoin said:

@blitzdude said:

@jmski52 said:
I don't think anyone here is in a position to really know what silver might do next. I'm optimistic that silver is a good asset to own however.

Don't worry, you might break even by 2031.

I'd rather hold silver and see it drop than hold cash and see it evaporate from inflation

True cash for the long term isn't good but it's certainly no worse than life in the gutter. I prefer farmland, butter, and beans. To each their own. RGDS!

derryb

I'm buying, just picked up 5 10 oz. RCM bars.

blitzdude

@derryb said:
I'm buying, just picked up 5 10 oz. RCM bars.

As they typically say in the gutter bi hi sell lo. ENJOY!

Meltdown

I've switched to fractional pre-33 gold for my money... I can line my gutters with silver at this point.

TwoSides2aCoin

Ordered another 300 ounces this morning.

jmski52

Ordered another 300 ounces this morning.

How is your turnaround time on new orders for silver?

TwoSides2aCoin

@jmski52 said:
Ordered another 300 ounces this morning.

How is your turnaround time on new orders for silver?

6 weeks at AMark
2 weeks at Dorado Trade group.
2 days with my regular bullion dealer. I've been sticking with him lately.

TwoSides2aCoin

The last order I made with AMark took two months and nearly shut me down in retail for a month .... all the while silver dropped $4. That was a losing spread.

derryb

bullion exchange on ebay. fast shipping.

derryb

Rebound?

PerryHall

@derryb said:
Rebound?

Dead cat bounce?