Here is what is funny locally, Two weeks ago, silver was coming in by the truck load, hundreds and hundreds of oz. I couldn't give it away. Even selling at spot and offering it at 50c-1.00 less than spot on Hundred oz. I had to ship constantly. price was 26-27. Now, take thru/fri price increase to 31.50. Man I got people calling every hour wanting to buy and get in on the action. Now, nobody selling any to the shop to give me the silver I need to fil orders.
I might add, had a few customers who sold week or two ago, call up upset because they sold too early. Like I have control over that.
Don't know where crazy silver will go from here. But... reminds me of the song
" The future's so bright, I gotta wear shades " That's what many of us want to think, but of course any rises in the metals are merely a reflection of the financial and social problems that are being faced by everyone. But I do like the song and the video!
@tincup said:
Don't know where crazy silver will go from here. But... reminds me of the song
" The future's so bright, I gotta wear shades " That's what many of us want to think, but of course any rises in the metals are merely a reflection of the financial and social problems that are being faced by everyone. But I do like the song and the video!
Yep... if that was a smackdown today, it was a rather weak one. silver climbing right back out... as well as gold. Oh well, see where it goes. I certainly am no good at predictions.
Blitz did just fine, but thanks for your concern. RGDS!
P.S. you are finally back to break even (at least on paper) not counting inflation which puts you to where you were Feb 2013. Inflation adjust and hello 2011....and your still underwater. Keep going maybe true breakeven is on the horizon. #trainwreck #horrible investment #DaGutter. THKS!
"Look what happened back in 2010 after the breakout. Silver rose about 220% in seven months. If history repeats, silver would reach $70 or so by the end of this year. But let’s look at its price potential another way. Let’s assume that gold is going to $3000 and at the same time, the gold/silver ratio continues falling to reach 30. Those assumptions and the math put silver at $100."
Natural forces of supply and demand are the best regulators on earth.
Hilltower Resource Advisors CEO and chief market strategist Tracy Shuchart was on Charles Payne's show yesterday and suggested that silver could be $50 -$60 in the coming years. She said the World Silver Institute is reporting that this year there will be a 265-million-ton deficit which is 2X what it was last year.
This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.
Last week before the show I have seen more people selling, because they need money, than buying.
This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
That’s the same thing that I’m hearing in several recent interviews. The main driver is retail demand coming from both China (gold) and India (silver), and of course central bank buying (mostly gold).
Q: Are You Printing Money? Bernanke: Not Literally
This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.
Last week before the show I have seen more people selling, because they need money, than buying.
This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
Or perhaps it just confirms that nobody wants the barbaric gutter metal? RGDS!
@jmski52 said:
Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.
Virtually nobody buys or sells at the apex of a price spike.
I’d be more interested in the average price and the trend line.
I like to compare extremes as it can set boundaries. The extremes caused by fear and apathy, elation and exuberance. Trend and average can be useful also, but are slow to react.
This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.
Last week before the show I have seen more people selling, because they need money, than buying.
This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
Or perhaps it just confirms that nobody wants the barbaric gutter metal? RGDS!
or that they think we are at a "temporary" high and will wait (hope) for lower prices.
Natural forces of supply and demand are the best regulators on earth.
@jmski52 said:
Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.
Virtually nobody buys or sells at the apex of a price spike.
I’d be more interested in the average price and the trend line.
I like to compare extremes as it can set boundaries. The extremes caused by fear and apathy, elation and exuberance. Trend and average can be useful also, but are slow to react.
I notice you used the "fear" word but not the "greed" word. LOL
Natural forces of supply and demand are the best regulators on earth.
@jmski52 said:
Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.
Virtually nobody buys or sells at the apex of a price spike.
I’d be more interested in the average price and the trend line.
I like to compare extremes as it can set boundaries. The extremes caused by fear and apathy, elation and exuberance. Trend and average can be useful also, but are slow to react.
I notice you used the "fear" word but not the "greed" word. LOL
Yup....folk's fear is a fantastic tool while greed is useless.
lol Blitz, I still can't quite characterize your schizoid approach to silver. The short & long of it - silver is more volatile than gold, and its price to gold ratio is out of sync historically. Silver is underpriced, whether or not it's above or below $30. Doesn't matter
I'll let you know when I decide to buy silver, for sure. Strategically, I decided to wait and overpay for a nice PR-70 DCAM Gold Buffalo when they come out. I'm also waiting to see if the Mint is going to make any Unc Plats this year, so more silver may have to wait a bit. I'm definitely tempted right now, based on the continued crappy economic and inflation news.
Q: Are You Printing Money? Bernanke: Not Literally
@derryb said:
Blitz, does one get a badge for being in jail?
Not sure, I will check. RGDS!
@jmski52 said:
lol Blitz, I still can't quite characterize your schizoid approach to silver. The short & long of it - silver is more volatile than gold, and its price to gold ratio is out of sync historically. Silver is underpriced, whether or not it's above or below $30. Doesn't matter
I'll let you know when I decide to buy silver, for sure. Strategically, I decided to wait and overpay for a nice PR-70 DCAM Gold Buffalo when they come out. I'm also waiting to see if the Mint is going to make any Unc Plats this year, so more silver may have to wait a bit. I'm definitely tempted right now, based on the continued crappy economic and inflation news.
Gutter metal certainly ain't going to help you in a crappy economy, not that we are in one. Look around, things be BOOMIN! RGDS!
I sold 100oz's a few days ago at $32. By my records, I was into it on average $17 per. I figured I'd sit on the cash, buy it back down the road once it settles back down. It's really the first time I've ever done that with the sole intention of waiting for another correction. I'm thinking after November elections, probably the first of next year.
I may be wrong, I may not... Maybe this is the new floor? But I made the choice this time to do something and I'm cool with it.
I sold 266 oz. last month when silver was $ 27.44 and that brought my average cost on the 400 SAE's I have down to $20 per oz. I sold 1 roll of SAE's last week for $700, so I'm under $20 per on what I have left. I'm enjoying the run up and hope it continues.
Yup, I'm sure things are boomin' around DC with tons of newly-created and taxpayer money splashing all over the place.
If it's so great, why are you raising chickens, storing lots of beans and living outside the city?
Because I want to live free in gods country my brother. Just as generations of fellow patriots have done before me. Being a city chicken aint for me. RGDS!
Lots of strength in the metals, at least for the day. Unfortunately likely due to the great turmoil we seem to be having right now on multiple fronts, so while nice to see the strength.....
@tincup said:
Lots of strength in the metals, at least for the day. Unfortunately likely due to the great turmoil we seem to be having right now on multiple fronts, so while nice to see the strength.....
chinese gold futures buyers back in the game. silver will follow.
Natural forces of supply and demand are the best regulators on earth.
Silver has strong resistance at around $31.25. If it can break above that after the Fed meeting tomorrow, it could have another strong run. A following break above $32 (which would be a ten-year high) will get more people involved. However, if it can't get above $31.25 range after the interest rate decision, could be headed down again for a while.
It just hit the resistance at 31.20 range that I mentioned after the half point cut. This is a level to watch closely. I expect profit taking for a while. Sold my SLV.
Now $31.0
and now $30.25. You really have to be quick. Buy the rumor, sell the news.
@Goldminers said:
It just hit the resistance at 31.20 range that I mentioned after the half point cut. This is a level to watch closely. I expect profit taking for a while. Sold my SLV.
Now $31.0
and now $30.25. You really have to be quick. Buy the rumor, sell the news.
The gutter no like it. Groundhog day yet again. RGDS!
@Goldminers said:
It just hit the resistance at 31.20 range that I mentioned after the half point cut. This is a level to watch closely. I expect profit taking for a while. Sold my SLV.
Now $31.0
and now $30.25. You really have to be quick. Buy the rumor, sell the news.
The gutter no like it. Groundhog day yet again. RGDS!
Back up overnight to test the same resistance at $31.22. If it can break above this long-term resistance, strong chance it will hit $35 before year-end.
Silver has bounced down off of its upper resistance line 3 times now. Good chance it will drop several percent due to this breakout fail, but then it will present us with another buying opportunity. The spot price seems to really be stuck in a $28-32 channel.
Comments
Yelling at clouds on pmbug.com
Blown past $30 and looking at $31.... oooooh yeah!
I hope we’re still a ways from too much hype. Last time all the talk was $50 dollars $50 dollars, and $45 was the place to sell.
I’ll be selling when the general public tries to get in on the game. It will be in the news and with fresh meat coming here to post.
We’ll see.
The only reason to sell at $50 is if you know of something with better characteristics and long term potential.
I knew it would happen.
Here is what is funny locally, Two weeks ago, silver was coming in by the truck load, hundreds and hundreds of oz. I couldn't give it away. Even selling at spot and offering it at 50c-1.00 less than spot on Hundred oz. I had to ship constantly. price was 26-27. Now, take thru/fri price increase to 31.50. Man I got people calling every hour wanting to buy and get in on the action. Now, nobody selling any to the shop to give me the silver I need to fil orders.
I might add, had a few customers who sold week or two ago, call up upset because they sold too early. Like I have control over that.
are silver premiums going crazy again?
7 am in hk now.
9 in sydney, but that may be a major produce it's not a major market
monday is just getting started
Ooo, maybe I can finally unload all of my modern commemoratives.
The battle scars of all the good times
Don't know where crazy silver will go from here. But... reminds me of the song
" The future's so bright, I gotta wear shades " That's what many of us want to think, but of course any rises in the metals are merely a reflection of the financial and social problems that are being faced by everyone. But I do like the song and the video!
https://youtube.com/watch?v=8qrriKcwvlY
I might add, had a few customers who sold week or two ago, call up upset because they sold too early. Like I have control over that.
You might ask them if they have more to sell……….
I knew it would happen.
Reminds me of the movie Groundhog Day. Don't forget to sell this time. LOL. RGDS!
The whole worlds off its rocker, buy Gold™.
$32.28
Blitz, ya sold too soon!
I knew it would happen.
Yep... if that was a smackdown today, it was a rather weak one. silver climbing right back out... as well as gold. Oh well, see where it goes. I certainly am no good at predictions.
Blitz did just fine, but thanks for your concern. RGDS!
P.S. you are finally back to break even (at least on paper) not counting inflation which puts you to where you were Feb 2013. Inflation adjust and hello 2011....and your still underwater. Keep going maybe true breakeven is on the horizon. #trainwreck #horrible investment #DaGutter. THKS!
The whole worlds off its rocker, buy Gold™.
For silver to reach the same relative valuation at its peak in 2011 vs sp500 it would need to rise to about $200.
Knowledge is the enemy of fear
GO SILVER
Martin
Comparing peak to peak implies something, but it may not be very meaningful to people who hold physical silver.
Virtually nobody buys or sells at the apex of a price spike.
I’d be more interested in the average price and the trend line.
I knew it would happen.
I might be crazy...
https://www.pmbug.com/threads/silver-might-10x-within-the-next-3-years.7455/
Yelling at clouds on pmbug.com
Maybe not crazy, just hopelessly optimistic!
If I live another 20 years seeing $100 silver is likely.
Silver Seeing Historic Upside Breakout Above $32 As Gold Nears $2,450, But Take A Look At This…
"Look what happened back in 2010 after the breakout. Silver rose about 220% in seven months. If history repeats, silver would reach $70 or so by the end of this year. But let’s look at its price potential another way. Let’s assume that gold is going to $3000 and at the same time, the gold/silver ratio continues falling to reach 30. Those assumptions and the math put silver at $100."
Natural forces of supply and demand are the best regulators on earth.
Hilltower Resource Advisors CEO and chief market strategist Tracy Shuchart was on Charles Payne's show yesterday and suggested that silver could be $50 -$60 in the coming years. She said the World Silver Institute is reporting that this year there will be a 265-million-ton deficit which is 2X what it was last year.
You can find the interview at, https://www.foxbusiness.com/shows/making-money-with-charles-payne.
This past weekend I was at a local coin show in wny and it appeared that nobody was buying silver bullion. At that time silver spot was about $31.50 and the dealers were at $34- and some dropped to $33- for one ounce rounds and bars. I couldn’t believe some people offered me $280- for a ten ounce bar. Unbelievable.
Last week before the show I have seen more people selling, because they need money, than buying.
This is a totally different take on where silver prices maybe going but based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
RATIO
based on my regional observation, the retail public has not reached the fomo mindset, therefore this alone tells me that the silver bulls have a lot of room to run.
That’s the same thing that I’m hearing in several recent interviews. The main driver is retail demand coming from both China (gold) and India (silver), and of course central bank buying (mostly gold).
I knew it would happen.
Or perhaps it just confirms that nobody wants the barbaric gutter metal? RGDS!
The whole worlds off its rocker, buy Gold™.
I like to compare extremes as it can set boundaries. The extremes caused by fear and apathy, elation and exuberance. Trend and average can be useful also, but are slow to react.
Knowledge is the enemy of fear
or that they think we are at a "temporary" high and will wait (hope) for lower prices.
Natural forces of supply and demand are the best regulators on earth.
I notice you used the "fear" word but not the "greed" word. LOL
Natural forces of supply and demand are the best regulators on earth.
Yup....folk's fear is a fantastic tool while greed is useless.
Knowledge is the enemy of fear
Jim,
You held too long......again! RGDS!
The whole worlds off its rocker, buy Gold™.
You held too long......again! RGDS!
Why would I sell, when I’m about to buy more?
I knew it would happen.
Well, you certainly have been known to overpay. To each their own I guess. GD LCK!
The whole worlds off its rocker, buy Gold™.
Hurry up Jim, could be your last chance to buy over $30 again. RGDS!
The whole worlds off its rocker, buy Gold™.
Blitz, does one get a badge for being in jail?
Natural forces of supply and demand are the best regulators on earth.
lol Blitz, I still can't quite characterize your schizoid approach to silver. The short & long of it - silver is more volatile than gold, and its price to gold ratio is out of sync historically. Silver is underpriced, whether or not it's above or below $30. Doesn't matter
I'll let you know when I decide to buy silver, for sure. Strategically, I decided to wait and overpay for a nice PR-70 DCAM Gold Buffalo when they come out. I'm also waiting to see if the Mint is going to make any Unc Plats this year, so more silver may have to wait a bit. I'm definitely tempted right now, based on the continued crappy economic and inflation news.
I knew it would happen.
Not sure, I will check. RGDS!
Gutter metal certainly ain't going to help you in a crappy economy, not that we are in one. Look around, things be BOOMIN! RGDS!
The whole worlds off its rocker, buy Gold™.
I sold 100oz's a few days ago at $32. By my records, I was into it on average $17 per. I figured I'd sit on the cash, buy it back down the road once it settles back down. It's really the first time I've ever done that with the sole intention of waiting for another correction. I'm thinking after November elections, probably the first of next year.
I may be wrong, I may not... Maybe this is the new floor? But I made the choice this time to do something and I'm cool with it.
Click on this link to see my ebay listings.
I sold 266 oz. last month when silver was $ 27.44 and that brought my average cost on the 400 SAE's I have down to $20 per oz. I sold 1 roll of SAE's last week for $700, so I'm under $20 per on what I have left. I'm enjoying the run up and hope it continues.
Look around, things be BOOMIN!
Yup, I'm sure things are boomin' around DC with tons of newly-created and taxpayer money splashing all over the place.
If it's so great, why are you raising chickens, storing lots of beans and living outside the city?
I knew it would happen.
Because Blitzeddude secretly wants to be the only bunker dweller, so that he will own it all for himself after the apocalypse.
Because I want to live free in gods country my brother. Just as generations of fellow patriots have done before me. Being a city chicken aint for me. RGDS!
The whole worlds off its rocker, buy Gold™.
Lots of strength in the metals, at least for the day. Unfortunately likely due to the great turmoil we seem to be having right now on multiple fronts, so while nice to see the strength.....
?? Summer dolrums over? Is that crazy silver starting to shine again? Got some catching up to do to catch up to gold!
chinese gold futures buyers back in the game. silver will follow.
Natural forces of supply and demand are the best regulators on earth.
Silver has strong resistance at around $31.25. If it can break above that after the Fed meeting tomorrow, it could have another strong run. A following break above $32 (which would be a ten-year high) will get more people involved. However, if it can't get above $31.25 range after the interest rate decision, could be headed down again for a while.
My US Mint Commemorative Medal Set
It just hit the resistance at 31.20 range that I mentioned after the half point cut. This is a level to watch closely. I expect profit taking for a while. Sold my SLV.
Now $31.0
and now $30.25. You really have to be quick. Buy the rumor, sell the news.
My US Mint Commemorative Medal Set
The gutter no like it. Groundhog day yet again. RGDS!
The whole worlds off its rocker, buy Gold™.
Back up overnight to test the same resistance at $31.22. If it can break above this long-term resistance, strong chance it will hit $35 before year-end.
My US Mint Commemorative Medal Set
Probably dumping the SLV this AM. THKS!
The whole worlds off its rocker, buy Gold™.
Silver has bounced down off of its upper resistance line 3 times now. Good chance it will drop several percent due to this breakout fail, but then it will present us with another buying opportunity. The spot price seems to really be stuck in a $28-32 channel.
My US Mint Commemorative Medal Set