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Silver is getting killed...
jclovescoins
Posts: 1,853 ✭✭✭✭✭
The past few weeks have been rough for silver...to say the least...
Are we heading under 20 or back to around 30?
I think it looks like under 20 but that would be quite upsetting.
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If it drops close/under 20 I might pull the trigger again.
I'm in at 20
It is right about where it should be. Tarnished, naturally.
It will be rising again soon.... inflation is rampant. Hold on, going to be fun for a while... Cheers, RickO
A fearful prediction: In the year 2025, somebody posts on this Forum "Silver is getting killed" as the price drops to $22. Then a few people post, "I'll be loading up at $22"
At some point doesn't Silver need to transform from a buying opportunity to actually going up in price?
Amazingly it was $50 an oz in 1980, and anybody that bought at that high is down over 50% in 40 years. It was $40 an oz in 2011, and anybody that bought at that high is down 40% in 10 years. Silver makes these very occasional very short lived spikes upwards, then basically drops for years after.
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the sell off happened over a oustanding jobs report that included seasonal jobs, in reality we are still down 2 million jobs compared to this time last month. fake news only drops prices short term
There are almost 10 MILLION job openings. If someone cant find work now they are most likely unhirable being either lazy, have a poor attitude or inflated sense of self worth.
Knowledge is the enemy of fear
There is so many places looking for help in my area, as mentioned above, anybody who cant find a job, dos'nt want one.
all areas: hospitality, machining, construction, trades, resturant, etc.
lot of people that come in the shop to sell, tell me they have no intrest in working.
But I thought the Reddit crowd was going to take over the COMEX? Silver to the moon and all.
Price drop fix is in to lower the price of silver to provide cheap market for solar panels. What a world we live in .. Subsidies to the solar buyer from the US Government. We will see a major increase in both silver and gold in January 2022...
True...
I keep buying 90% hand over fist.
Dave
I offered to buy ASEs at $20 so far no takers. THKS!
The whole worlds off its rocker, buy Gold™.
So you are saying subsidies (if there really are any) willl be ended in 6 months? And that will cause the price to go up?
Knowledge is the enemy of fear
Buy hi sell lo the life of a gutter stacker. I dumped about 20% of the stack this latest pump, shame I didn't dump it all.
The whole worlds off its rocker, buy Gold™.
I read somewhere silver would go nuts in 2022 and then drop like crazy after that, like really drop back down to prices we haven't seen in 15 years. One persons prediction. Between these Reddit users and inflation who knows, it could happen. Who would of though palladium would be where it is today 5 years ago?
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Once a physical ounce can be bought for under $20/ounce including the mark up, I will start acquiring again or better yet 10 ounce bars for under $200. Till then, let others play.
If it does go that low, buy some, stack some, have some fun , but don’t fall in love with it. When you can sell at $28-$30 take the money and run, because it always seems to go back down.
I sold everything I had except 1 10 ounce englehard bar ( for posterity) and I often wonder why I didn’t sell it a few months ago.
In September 2020 silver dropped quickly (on "paper") from about $27 to about $23. That drop only took a couple days. These kinds of declines are not new. This time silver dropped from about $28 to $23 now. That decline took most of the summer. It seems like $23 may be a floor under the price. And $28 may be a current ceiling. We shall see if the floor or the ceiling cracks first.
Anyway, today I came across a favorable local price on some 100oz silver bars. The timing and the price seemed right. So I bought a few, to make smaller products (of 1.0 to 2.0 troy oz each).
So silver dropped next month??
Please excuse the typing error. September 2020 is what I meant.
There's a new lcs a few miles from me, might go check it out this weekend and scope some prices.
That's exactly my number. Under $20 I'm back in...
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Added some SLV and GDX. Just a hunch.
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No, they took ON the comex and the result of record high silver premiums shows they succeeded and so far, continue to do so. While their publicity and attack efforts have subsided the premiums have not. Good sign for the eventual correct price discovery method for physical silver. As long as physical prices are dependent on the futures market for their base price, the comex will indirectly control physical prices.
Keep an open mind, or get financially repressed -Zoltan Pozsar
The price of silver has no relationship to reality. To pick any entry level for buying, or an exit price for silver - you might as well pick a number out of your hat.
The relationship to watch is the dollar vs. soybeans or corn. Or oil. They can't control the prices of all critical commodities with paper contracts, and the price of silver will eventually move in the same directions now as food commodities (and oil) until the dollar crashes & evaporates.
Government policies are turning out to be a witches brew for inflation right now and I expect that bigger spending will add more fuel to the fire. It's getting closer to being a Wild West situation. Everything is becoming negotiable, so buy & sell accordingly. Expect lots of volatility. Quite a challenge (and opportunity) if you are a trader or speculator.
I knew it would happen.
20 years ago silver was $4. Today is $24. Up 6x. US national debt is up 6x and the stock market is up 6x over the same time.
At what price do you think silver should be?
Knowledge is the enemy of fear
They ran outta stimulus money
Maybe the Reddit crowd is forcing them to cover their shorts. Keep in mind that this occurred during the GameStop attack. A sudden turn in price will confirm short covering.
Keep an open mind, or get financially repressed -Zoltan Pozsar
_20 years ago silver was $4. Today is $24. Up 6x. US national debt is up 6x and the stock market is up 6x over the same time.
At what price do you think silver should be?_
Like I stated above, you might as well pick a number out of your hat.
In other words, give a holler down to the trading desk at JPM to get your latest "silver price", but only after they've made their trades for the day.
I knew it would happen.
Thanks for your great insight!!!
Knowledge is the enemy of fear
Thanks for your great insight!!!
You might have better luck than most people. You should give a call over to JPM and see what the number is going to be today.
I knew it would happen.
I’m with you. At this point I’m neither buying nor selling, just watching. IF silver gets down to 20 bucks an ounce I’ll be buying like a madman. For now I’m just a spectator.
Less than $20 will not be a good nor a buy sign.
Keep an open mind, or get financially repressed -Zoltan Pozsar
With a price and premium drop, I haven't found a better time to enrich my customers.
Manage your assets, don't let them manage you. Basing your buying & selling decisions on a paper contract-generated price for gold or silver is allowing the manipulators to manipulate you. Same goes for ETF "investments".
I knew it would happen.
silver sellers are getting killed. Silver buyers are taking advantage of them.
Keep an open mind, or get financially repressed -Zoltan Pozsar
I was a silver buyer today. Look for a healthy price drop soon.
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Total spam. Lets pick the market after a 50% correction, lol. This sounds like cohook and Baiey with there $35000 dollar house in Silicon Valley his DADdY brought fo $35000 that is now 1.5 mil.". Too bad gold would be worth 4.5 million without all the improvements and upkeep.
If I’m remember correctly it’s only 3 times which is generous. Day trades trade until they’re broke.. Stock brokers lie IMO.
@jmski52 said:
_20 years ago silver was $4. Today is $24. Up 6x. US national debt is up 6x and the stock market is up 6x over the same time.
At what price do you think silver should be?_
Like I stated above, you might as well pick a number out of your hat.
Thanks for your great insight!!!
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A blind monkey could have done as well from the 6500 level as today, I guess you need a day trader to really put you over the top lol
Wow, I'm very flattered that you remembered my little story told here so many years ago!
Meanwhile, looking forward to your gripping tale of how Your dad raised a family in a house made of gold bars with ASE roof shingles! 😉
Liberty: Parent of Science & Industry
Story time. I love happy endings.
Remember when that plaque wiped out millions of people in 2020 ? You ( we) could buy silver at $13. In Nov'19.
Oooops, a dollar drop this month and a dollar drop last month...and it still costing $25. What changed in the last year ? Prices and attitudes.
I tried to tell my kids to put that $1200 stimulus in silver. It's not like they needed money. They could not go anywhere, so they could have saved it. And sold it for a handsome profit today.
Speaking of daddy. Whoever listened to their dad ?
Whee.....! Another roller coaster drop today....