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silver price........

GeomanGeoman Posts: 2,491 ✭✭✭
What's up with the price of silver? Just a correction? Or will it continue back down to $5/ounce?

Comments

  • BaleyBaley Posts: 22,658 ✭✭✭✭✭
    the precious metals markets will fluctuate. In fact, all markets fluctuate.

    Liberty: Parent of Science & Industry

  • Steve27Steve27 Posts: 13,267 ✭✭✭
    It was due for a correction, but I didn't expect it to fall this much. However, I think this is just temporary, and there's no chance it will go back to $5.00 an ounce.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • fishcookerfishcooker Posts: 3,446 ✭✭

    Geoman, no person on Earth can answer your question.

    Perhaps one should be prepared for a couple scenarios.



  • RussRuss Posts: 48,515 ✭✭✭


    << <i>I think this is just temporary, and there's no chance it will go back to $5.00 an ounce. >>



    Silver buyer, circa 1980.

    Russ, NCNE
  • 291fifth291fifth Posts: 23,898 ✭✭✭✭✭
    If I knew where metals prices were going I would now own the world's finest coin collection. Anybody want to buy some rolls of ave. circ. wheat cents?
    All glory is fleeting.
  • MICHAELDIXONMICHAELDIXON Posts: 6,372 ✭✭✭✭✭
    My personal opinion is that silver will settle down around $5.30 an ounce.
    Spring National Battlefield Coin Show is April 12-13, 2024 at the Eisenhower Hotel in Gettysburg, PA. WWW.AmericasCoinShows.com
  • DeadhorseDeadhorse Posts: 3,720


    << <i>My personal opinion is that silver will settle down around $5.30 an ounce. >>



    With all due respect, I don't believe there's a chance in Hades of that happening. Any type drop is possible, but to "settle", as in stay there, is virtually non-existent.

    The sharks, liars and thieves in the numismatic field have nearly driven me away for good after almost 40 years. That and a particular grading service which shall go unnamed. I happen to like bullion and will stay with it, at least what you've got there is tangible.

    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • RussRuss Posts: 48,515 ✭✭✭


    << <i><< My personal opinion is that silver will settle down around $5.30 an ounce. >>

    With all due respect, I don't believe there's a chance in Hades of that happening. Any type drop is possible, but to "settle", as in stay there, is virtually non-existent. >>



    Silver buyer, circa 1980.

    Russ, NCNE
  • Price is moving on economic numbers. With the ballooning deficit, no end in site in Iraq, increased senior health care costs, oil/gas prices at record levels etc, etc the dollar will start to decline again along with our economy, which will take metals back up.

    Just a bump in the road for silver, gold, etc.
    A newbie to collecting...but recognize the value of PCGS grading.
  • One year ago: $4.73

    Today: $6.99

    Not a bad annual return regardless

    Forum AdministratorPSA & PSA/DNA ForumModerator@collectors.com | p 800.325.1121 | PSAcard.com

  • RussRuss Posts: 48,515 ✭✭✭
    One year ago: $6.99

    Today: $4.73

    Not a bad annual loss regardless...

    ...April 14, 2005.

    Russ, NCNE
  • fishcookerfishcooker Posts: 3,446 ✭✭
    virtually non-existent.

    Do you see and accept the Risk of that prophesy?

    I hate to say it but the Silver chart looks like a classic hyperbolic peak to me, somewhat like some Tech stocks of 1999-2000.

    If so, $6/oz will be at hand shortly, and $8 will be the good old days.........


  • The Wall Street Journal says that many large speculators dumped silver because of signs the US Economy is heating up. The jump in new jobs and the increase in retail sales has investors and economists thinking the Fed will raise interest rates sooner than they were expecting. So the dollar is going up which makes dollar denominated silver worth less.

    They inteviewed two big traders, one thought silver will not go below $7 in the short term while the other thought it would image
  • MoneyLAMoneyLA Posts: 1,825
    A drop back to 6.50 would be normal and expected. markets don't go straight up. profit taking is normal. cheers, alan mendelson
  • FragmentumFragmentum Posts: 174 ✭✭
    SAE's will be cheaper this wekend!
    Collecting ASE's, Disney Dollars, high end for type set and other shiny objects with crayola colors...
  • ClausUrchClausUrch Posts: 1,278
    Buy all you can at this price because silver will be ...................................................


































































    5 trillion dollars an ounce by the end of the year!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!image
  • fishcookerfishcooker Posts: 3,446 ✭✭

    If $6.50 is a long way from $8.00......... if that is normal, then at what price do I figure out things are abnormal?
  • fishcooker: Looking at charts are great, but do you look at the fundamentals behind the charts?

    This has nothing to do with profit-taking, nothing to do with the economy, nothing to do with China. The only reason prices fell is because of short sellers manipulating the market.

    Article
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • fishcookerfishcooker Posts: 3,446 ✭✭

    Looking at charts are great, but do you look at the fundamentals behind the charts?

    Absolutely! One can't invest successfully, IMO, without understanding how prices and fundamentals interact. If you want to get your investments killed, invest based on fundamentals alone. I would liken it to investing in coins based on Mintage alone, while ignoring the popularity and beauty of other coins.

    The thing is, if you invest on fundamentals ALONE -

    1. You conclude you know more about the "correct" fundamentals than Wall Street and Global investors.

    2. If silver declines in price after you invest, you'll find yourself looking at losses and thinking "it should have" or "it can't" go down. In fact, the more silver declines the more you'll invest because fundamentally it becomes even more attractive. If silver happens to decline a lot, and for several years, you'll have massive losses on large portions of your portfolio.


    Please, whatever you do, do not allow yourself to fall into the mindset that leads to the bottomless pit of item #2 (with any investment, not just silver.)

    image


  • fishcookerfishcooker Posts: 3,446 ✭✭

    Oh, one more thing......

    I'm not smart enough to understand the linked article. In a couple sentences, can you explain the evidence that proves some kind of price conspiracy that moved the price of the metals down? The author comments about killer whales and baby seals, but I didn't get the logic behind his position.

    I understand short sales, having done them for years......image




  • nankrautnankraut Posts: 4,565 ✭✭✭
    I sold all mine @ $7.75-$8.15. Lucky, I guess. Will I buy it back? Nope, because I'm too old, and I don't need the risk. image
    I'm the Proud recipient of a genuine "you suck" award dated 1/24/05. I was accepted into the "Circle of Trust" on 3/9/09.
  • RussRuss Posts: 48,515 ✭✭✭
    An analysis posted on silverseek.com? That's like relying on an article about George Bush that appears on dnc.org.

    Russ, NCNE
  • ARCOARCO Posts: 4,305 ✭✭✭✭✭
    Seems that Gold and silver move up or down based on the strength or weakness of the dollar. The dollar rose sharply against other strong currencies on Mon. if I remember correctly.

    Tyler
  • Sure silverseek.com is biased! But since I've not yet seen any silver bear post evidence of their own refuting Ted Butler's, what can I say? Perhaps I'm too used to debate-type discourses where both sides present their own evidence to rebut opposing evidence, but all I'm seeing here is "I'm right because I say so--and that means your evidence is wrong, well, because I say so!"

    A) More silver is consumed annually than is produced.
    B) Silver shorts are manipulating the market.

    Fishcooker: If you have sold 400 million ounces of silver short, and it appears that the market will continue to rise and one day you will have to cover your shorts at a higher price and lose money. However, if you can short sell another 200 million ounces short and drive the price down, what are you going to do? When you sold stocks or commodities short you either had to have enough money to cover the short position or enough of the stock/commodity to cover the position, right? The CFTC permits them to trade in hundreds of millions of ounces of silver despite that the much silver is not even *available* for purchase on the open bullion markets.

    Personally, silver will never make me rich. I just sold all my silver holdings as well, and will buy them back when silver is finally driven back to $4-$5. But I find it ludicrous to listen to the silver bears when they won't even present any evidence to back their case! I have nothing in silver at this point because it appears the shorts will succeed in engineering another sell-off this time around. Perhaps Elliot Spitzer will end the manipulation some day and the markets will be free to seek their own price range, up or down, as the case may be.

    If you have another minute, check out this article, it explains the silver short position much better than I can.

    another link
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • fishcookerfishcooker Posts: 3,446 ✭✭

    Well, if I got it right Ted Butler proposes that "they" manipulated silver by manipulating gold, not by actually shorting more silver or selling more metal.

    I guess it could happen, but geez there's lots of his own material there that comments on how silver's price is incorrectly ratioed against Copper and Gold.

    Puttin all that aside, the thing that troubles me most is this quote -

    "It is not possible ... to get fancy and to sidestep a potential decline and rebuy after the possible decline. That's a prescription for losing a long term position, something that must be avoided at all costs......."

    Perhaps the rest of the article is dead-on, but that statement should raise a monstrous Red Flag, and if it doesn't then I'd suggest just going to Vegas and betting it all on Black. (Red has had it's Win for the Month!)

    Good Luck!
  • I really hav'nt paid much attention, but I guess $8.somthing is newsworthy, but no biggie, the last time I sold any silver, and I sold it all, I got $42.50 an ounce, hahahahahahah YESSS

    Eastside

    Promote the Hobby, lest we return to the cardboard age
    Promote The Hobby and Make it a Positive Experience for all, Remember That this Hobby Can Be Fun & Profitable & Profit is Always FUN
  • MICHAELDIXONMICHAELDIXON Posts: 6,372 ✭✭✭✭✭
    I stand by my prediction of April 14th that: My personal opinion is that silver will settle down around $5.30 an ounce.
    Spring National Battlefield Coin Show is April 12-13, 2024 at the Eisenhower Hotel in Gettysburg, PA. WWW.AmericasCoinShows.com


  • << <i>"It is not possible ... to get fancy and to sidestep a potential decline and rebuy after the possible decline. That's a prescription for losing a long term position, something that must be avoided at all costs......." >>



    I agree, I don't like that statement, but I don't see any red flags. Someone said it before: people are illogical when it comes to precious metals, they buy when it's going up and sell when it's going down. I think he's just trying to tell people to stand by their gut instinct; buy at $8, buy at $7, buy at $6, etc. and eventually dollar-cost-averaging will kick in.

    At any rate, as far as short selling goes, he contends that the net short position is 550 million ounces of silver. COMEX has 100 million ounces of silver in their inventory. When the net short position is FIVE TIMES larger than the immediatley available supply of silver on the exchange, well, that's a pretty serious thing.
    I heard they were making a French version of Medal of Honor. I wonder how many hotkeys it'll have for "surrender."
  • Just some observations.......

    1) If you are truely worried about silver prices, you have issues dealing with risk.... you may want to invest your money in long term bonds or a CD......
    2) If you think you can time the market you've lost touch with reality. If you sold towards the top, you got lucky... nothing more.... if you are losing sleep because you keep watching silver go down and down.... see #1.
    3) If you've invested in silver... why? If you can answer with a logical, research driven answer, then great, kudos to you. If you jumped on the "bandwagon" at $7+ and are NOW asking questions.... you don't belong investing your hard earned $ in something you don't understand..... you're a speculator... go look it up.....

    Sick of the silver posts........ (can you tell)image
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    The US dollar malady has not been fixed. For whatever issues are currently driving the dollar up, this is only temporary. We are literally worse off than 2 months ago. Bush is doing everything in his power to get re-elected and at his disposal are the means to adjust any market the US plays in (bonds, gold, world currencies, stocks, etc.). Based on what the FED/Treasury do every day, I'd say the real speculation is investing in anything the US Govt routinely dabbles in to continue to propell the "recovery."

    Mathematically, there is not a snowball's chance in hell of silver settling at $5.20 just like there is no chance of the DOW "settling" at 10,000 or the CPI "settling" in at 2.3%. Numbers are part of a continuous spectrum. There is no one single number that applies to all situations other than maybe "Pi" or "e." Stats go up or down, especially one so volatile as the price of silver.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • fishcookerfishcooker Posts: 3,446 ✭✭
    well, that's a pretty serious thing.

    The price of silver disagrees. There are no other prizes. image

  • BlindedByEgoBlindedByEgo Posts: 10,754 ✭✭✭✭✭
    ...Less than 4 short years ago. What a kick these old threads are image
  • I wish, i could go back to those days!! And buy more silver, at those prices!!
    SEE the BULL!! BUY the BULL!! BE the BULL!! Do your homework first. And, you will learn alot!!
  • Great read! image

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