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Silver was unusually strong today....

DoubleEagle59DoubleEagle59 Posts: 8,323 ✭✭✭✭✭
in Precious Metals
When every other metal dropped today, it was very encouraging to see such a sign of strength for the price of silver today as it gained quite a lot compared to everything else.

Any ideas why?

Perhaps silver a tad oversold of late?

Comments

  • Coll3ctorColl3ctor Posts: 3,339 ✭✭✭
    "Any ideas why?"


    It is one of the most if not the most oversold metal.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>Any ideas why? >>




    It's greatly undervalued. A bargain these days.
    "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
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    hope it goes up more!!
    Successful Buying and Selling transactions with:

    Many members on this forum that now it cannot fit in my signature. Please ask for entire list.
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>hope it goes up more!! >>



    Just sit back and relax.

    Soon the roller coaster will start back up again.
    "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
  • HonoluluDudeHonoluluDude Posts: 2,167 ✭
    "Silver was unusually strong today...." That just means silver will be down big tomorrow. wash, rinse, repeat.
  • 57loaded57loaded Posts: 4,967 ✭✭✭
    of the big four gold has lost least (paper) that is and is up about 15% or so YTD if you bought some of the yellow last year and were to sell it today
  • DeadhorseDeadhorse Posts: 3,720 ✭


    << <i>of the big four gold has lost least (paper) that is and is up about 15% or so YTD if you bought some of the yellow last year and were to sell it today >>




    If you bought physical you would be much better off with either gold or silver. The paper price means nothing on the real market.

    Gold is still going for around $125 over spot at most shops, silver at $4.50 to $5 or more over spot.

    I recently grabbed 10 onces of Gold Eagles and flipped them at $60 over cost. No, I didn't pay a $125 premium, $45 was high enough on 10 of them. Also flipped 10 ounces of Plats to the same guy at $80 over cost.

    I think that is absurd, but who am I to not take the money. Both parties were satisfied and I was feeling a bit guilty, then satisfied.

    Silver Eagles are simply ridiculous, time to sell off a batch soon.
    "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
  • fcfc Posts: 12,793 ✭✭✭


    << <i>of the big four gold has lost least (paper) that is and is up about 15% or so YTD if you bought some of the yellow last year and were to sell it today >>



    kitco says .83%. how did you get 15%?
  • NumbersUsacomNumbersUsacom Posts: 1,457 ✭
    silver has been showing a stronger chart pattern verses gold the past 10 days or so. Gold does appear more vulnerable at this point.
    But that may change tommorow.
    NumbersUsa, FairUs, Alipac, CapsWeb, and TeamAmericaPac
  • 57loaded57loaded Posts: 4,967 ✭✭✭


    << <i>

    << <i>of the big four gold has lost least (paper) that is and is up about 15% or so YTD if you bought some of the yellow last year and were to sell it today >>



    kitco says .83%. how did you get 15%? >>



    swag and based on what i paid about a year ago $840 vs what i think i can easily sell for today $950 plus...i was doing the math in my head.
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    You also get a similar amount (17%) if you chart against the low in August 2007 when the strongest move since 2006 started. This makes far more sense than charting against values in October 2007 long after the upswing began (ie a calendar of 12 months). Yeah, it's 14 months but it charts low against low which is more credible imo. If you bought in the 2nd half of 2006 to the first half of 2007 when gold was well beaten down you have done ok.

    I'll take any strength in silver. If it's a sign of leading gold up, I'm all for it.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • ajbaumanajbauman Posts: 1,174 ✭✭✭
    Or if you would have bought ING when it was down on Friday and sold it on Monday you would have made 24% in one day!

    image
    Buying £2 Britannias
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