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Dang! Silver is way down!

PerryHallPerryHall Posts: 46,152 ✭✭✭✭✭
in Precious Metals
Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices?

Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire

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Comments

  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭
    Under $18 at APMEX. Likely will pop back a little? Somebody must have dumped a chunk since BABA is now forecast to open over $90.
    ANA-LM, NBS, EAC
  • piecesofmepiecesofme Posts: 6,669 ✭✭✭
    The axe has been being sharpened, and now it appears time to CUT! But that's the paper price, not the physical.
    I view this as a tremendous buying opportunity and a chance to cost avg. being into most of my non-collectible silver at roughly somewhere in the $21's. I also think this will be a revisit of 2008 and 2009 when a 10 oz bar was going for nearly a Spot + $5/oz premium. So even with a widened premium on physical, it's still a great buying opportunity. All jmho.
    To forgive is to free a prisoner, and to discover that prisoner was you.
  • guitarwesguitarwes Posts: 9,266 ✭✭✭


    << <i>Anyone still buying at these fire-sale prices? >>



    Everyone's buying the new glitzy shiny BABA. The luster will wane soon.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • PerryHallPerryHall Posts: 46,152 ✭✭✭✭✭


    << <i>

    << <i>Anyone still buying at these fire-sale prices? >>



    Everyone's buying the new glitzy shiny BABA. The luster will wane soon. >>



    Yup. They're dumping gold and silver to buy something far more substantial like Alibaba stock.image

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • KipKip Posts: 852


    << <i>Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>



    Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!!
    UCSB Electrical Engineering....... USCG and NASA
  • BAJJERFANBAJJERFAN Posts: 31,083 ✭✭✭✭✭


    << <i>

    << <i>Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>



    Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!! >>



    SDBullion was at $402 a roll for 2014 ASEs not a half hour ago. Not no more.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,083 ✭✭✭✭✭


    << <i>

    << <i>Currently at a cent over $18. How low will it go? What's your best guess? Anyone still buying at these fire-sale prices? >>



    Much lower soon....and I bet the PM dealers will have some great sales........................yeah right!! >>



    Makes you wonder how long the mint can continue to sell silver products without incurring a loss.
    theknowitalltroll;
  • jmski52jmski52 Posts: 22,869 ✭✭✭✭✭
    Makes you wonder how long the mint can continue to sell silver products without incurring a loss.


    "The Coming Silver Shortage" by ..............pick one:

    1) Peter Schiff

    2) Doug Casey

    3) Jason Hommel

    4) Marc Faber

    5) Jimmy Rogers
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • TomohawkTomohawk Posts: 667 ✭✭


    << <i>Makes you wonder how long the mint can continue to sell silver products without incurring a loss.


    "The Coming Silver Shortage" by ..............pick one:

    1) Peter Schiff

    2) Doug Casey

    3) Jason Hommel

    4) Marc Faber

    5) Jimmy Rogers >>



    Yeah...I can't get away from the dire predictions on some websites, and the "sky's the limit" on others. Confused...
    ASE Addict...but oh so poor!
  • derrybderryb Posts: 36,836 ✭✭✭✭✭


    << <i>

    << <i>Makes you wonder how long the mint can continue to sell silver products without incurring a loss.


    "The Coming Silver Shortage" by ..............pick one:

    1) Peter Schiff

    2) Doug Casey

    3) Jason Hommel

    4) Marc Faber

    5) Jimmy Rogers >>



    Yeah...I can't get away from the dire predictions on some websites, and the "sky's the limit" on others. Confused... >>


    let history be your guide

    Natural forces of supply and demand are the best regulators on earth.

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭
    history of the past 5 years:

    image

    then there's the history of silver prices 1982-2003.

    wai... wha?

    Liberty: Parent of Science & Industry

  • OnlyGoldIsMoneyOnlyGoldIsMoney Posts: 3,365 ✭✭✭✭✭
    I expect to add another 500 ounces in the next few weeks.
    NO END IN SIGHT LIB $2.50'S CAC ONLY
    https://www.pcgs.com/setregistry/gold/liberty-head-2-1-gold-major-sets/liberty-head-2-1-gold-basic-set-circulation-strikes-1840-1907-cac/alltimeset/268163
  • VanHalenVanHalen Posts: 3,994 ✭✭✭✭✭
    I remember August of 2010 well. 50ozers were $900 delivered. It's the last time I bought for long term holding.

    image
  • vprvpr Posts: 606 ✭✭✭
    Those high premiums are nowhere to be seen. Some great deals out there.
    References: Too many to list. PM for details. 100% satisfaction both as buyer and seller. As a seller, I ship promptly and keep buyers updated.
  • unknowncomicunknowncomic Posts: 945 ✭✭
    I don't understand why its dropping like it is. I haven't bought any.
    It usually waits until I buy 50 or more ounces before it tanks like this.
    I should sell so it will go back up.
    Molon Labe
  • BAJJERFANBAJJERFAN Posts: 31,083 ✭✭✭✭✭


    << <i>Makes you wonder how long the mint can continue to sell silver products without incurring a loss.


    "The Coming Silver Shortage" by ..............pick one:

    1) Peter Schiff

    2) Doug Casey

    3) Jason Hommel

    4) Marc Faber

    5) Jimmy Rogers >>



    I wasn't thinking shortage. I was thinking what is the average cost per ounce of the silver that the Mint is using now. Until this week, silver hasn't been under $18 since mid August of 2010 if I read the 5 year price history correctly.
    theknowitalltroll;
  • derrybderryb Posts: 36,836 ✭✭✭✭✭
    how soon we forget that silver went from roughly $18 to nearly $50 within 9 months.

    Natural forces of supply and demand are the best regulators on earth.

  • cohodkcohodk Posts: 19,155 ✭✭✭✭✭


    << <i>how soon we forget that silver went from roughly $18 to nearly $50 within 9 months. >>



    I see you fixed your rose colored glasses.image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,836 ✭✭✭✭✭


    << <i>

    << <i>how soon we forget that silver went from roughly $18 to nearly $50 within 9 months. >>



    I see you fixed your rose colored glasses.image >>


    I keep a special gold trimmed pair just for the metals.

    Natural forces of supply and demand are the best regulators on earth.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,296 ✭✭✭✭✭
    Good buys are everywhere. Just like good-byes, in a way.
  • johnny9434johnny9434 Posts: 28,344 ✭✭✭✭✭
    $12 silver would be nice. so wouldnt $50. who knows for sure
  • luckybucksluckybucks Posts: 1,318 ✭✭✭
    Dang ! Silver is way down! image time to buy more......LOTS more.

    Dang! Gold is way down! Time to buy LOTS more of that too.image
  • UnknownUnknown
    This content has been removed.
  • michiganboymichiganboy Posts: 1,247 ✭✭✭
    Funny thing is I kept telling everyone is was gonna go back down to $18 and most thought I was way wrong. Nows it$17 something and $12 is coming, I would neither sell nor buy right now if I you.
    Positive BST transactions:michaeldixon,nibanny,
    type2,CCHunter.
  • morgansforevermorgansforever Posts: 8,461 ✭✭✭✭✭
    I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels.
    World coins FSHO Hundreds of successful BST transactions U.S. coins FSHO
  • michiganboymichiganboy Posts: 1,247 ✭✭✭


    << <i>I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels. >>



    I would wait a little longer, its in the cards to at least reach $15 before it goes back up. Of course it will go and and down in the mean time, like tomorrow will probably be back at $18, only because it reached $17 and people started buying.
    Positive BST transactions:michaeldixon,nibanny,
    type2,CCHunter.
  • PokermandudePokermandude Posts: 2,713 ✭✭✭


    << <i>I'm in to deep to sell and don't need to, guess the only logical thing to do is buy more at these levels. >>



    I couldn't have summed up my own situation any better than this^

    In for an oz, in for a pound!
    http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    New lows the short term norm now....
    keceph `anah
  • bronco2078bronco2078 Posts: 10,229 ✭✭✭✭✭


    New lows are okay with me I just got some 90% quarters off ebay for below melt I'm happy. I had a random lot of quarters on my watch list that was over priced the seller just dropped his BIN tonight by $30 .

    I've seen that a few times and taken advantage. Something spooked him and he decided they had to go right now
  • OPAOPA Posts: 17,121 ✭✭✭✭✭


    << <i>New lows are okay with me I just got some 90% quarters off ebay for below melt I'm happy. I had a random lot of quarters on my watch list that was over priced the seller just dropped his BIN tonight by $30 .

    I've seen that a few times and taken advantage. Something spooked him and he decided they had to go right now >>



    He obviously had more foresight than you.
    Silver appears to be in a free fall and should drop below $17 this coming week.
    My prediction of 2 weeks ago, that gold may break $1200 barrier the following week, was premature. It may do so this week.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    I think it's investable time again in silver...
    My down side target is much lower, but premiums are so low now it has become another anomaly to consider...
    keceph `anah
  • mikliamiklia Posts: 1,295 ✭✭✭
    woke up to sub 17.50 this AM. freefall indeed.
  • PerryHallPerryHall Posts: 46,152 ✭✭✭✭✭
    I wonder if any of the big bullion dealers will go out of business as a result of this drop in bullion prices. It has to be hurting the value of their inventory and their bottom line.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • derrybderryb Posts: 36,836 ✭✭✭✭✭
    The dollar has pushed silver down.

    Keep you eyes on the dollar index, silver will inversely follow



    Natural forces of supply and demand are the best regulators on earth.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>The dollar has pushed silver down.

    Keep you eyes on the dollar index, silver will inversely follow >>


    Is that what pushed it down from April 2011??? Bunch a nonsense...
    keceph `anah
  • derrybderryb Posts: 36,836 ✭✭✭✭✭
    The posted chart is a one year chart that points out the recent three month spike in the dollar. Compare that to the recent three month 20% decline in spot silver and then re-evaluate your definition of nonsense. Being quick to disagree comes at a cost if you don't first weigh the value of your disagreement.

    Fear of inflation pushed metals to new highs. Realization since then that inflation is being delayed has brought them back down to earth. Temporary dollar strength is pushing them below earth. Fundamentals are being ignored. Ignore them at your own risk, they will prove to be the ultimate decider - not your opinion or my opinion.

    You continue stacking your dollars, I'll continue stacking my metals. When inflation and dollar destruction explode you won't have enough dollars. I will have more than enough metal. If you don't see price inflation or dollar devaluation in your future then the dollar camp is the place for you. History shows that currency mismanagement will result in inflation and devaluation. I don't agree that this time it is different.

    Natural forces of supply and demand are the best regulators on earth.

  • BaleyBaley Posts: 22,661 ✭✭✭✭✭
    19 was tested and has held a couple times before in the past year, failed this time though..



    << <i>image >>



    question that comes to my mind, will 19 now be a ceiling?

    Liberty: Parent of Science & Industry

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    wow a 1 year chart...lol...
    must be hot and the kool aid iced...

    the "dollar" which i have no idea of what u r refering to derryb, maybe u dont either... the dollar basket that trades was higher in april 2010 about 85+, than it is now, and silver was $2+ higher...

    just pointing out that u r spouting rhetoric...
    keceph `anah
  • derrybderryb Posts: 36,836 ✭✭✭✭✭
    If you don't understand the dollar index and its relationship to metals you best stick with your rhetoric and with dollars.

    Natural forces of supply and demand are the best regulators on earth.

  • derrybderryb Posts: 36,836 ✭✭✭✭✭


    << <i>19 was tested and has held a couple times before in the past year, failed this time though..



    << <i>image >>



    question that comes to my mind, will 19 now be a ceiling? >>


    It will until dollar weakness (euro/pound/yen strength) returns.

    Natural forces of supply and demand are the best regulators on earth.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭


    << <i>If you don't understand the dollar index and its relationship to metals you best stick with your rhetoric and with dollars. >>


    i do, there isnt one, and there is no exact formula or relationship that u can produce for the forum...
    there is only one when one wants there to be one to fit their agenda... hence your one year chart...

    keceph `anah
  • derrybderryb Posts: 36,836 ✭✭✭✭✭
    For the contrarian of all opinions but his own, here's the five year chart with (SLV in green). While he claims to understand the dollar index and yet sees no relationship to metals, I see an inverse relationship, but it might just be my imagination. image

    image

    Natural forces of supply and demand are the best regulators on earth.

  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Simple, what's the equation???...
    keceph `anah
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Oh and since it's so exact, point me to your post of selling gold n silver at the highs...
    And buying at the lows in 2008...
    keceph `anah
  • derrybderryb Posts: 36,836 ✭✭✭✭✭


    << <i>Simple, what's the equation???... >>


    simple, A+ = B- or A- = B+

    one goes up, the other goes down. If still confused, look up the definition of "inverse relationship."



    << <i>Oh and since it's so exact, point me to your post of selling gold n silver at the highs...And buying at the lows in 2008... >>


    I am constantly buying and selling PMs. I buy at all the lows and attempt to sell at all the highs. Been a good business model for many years now with no plans to change it. Volatility, and not a straight shot up, are what make metal trading profitable. I am never exact when it comes to highs or lows, but I do have a good understanding of price direction and its causes. . . do you? If not, give your mouth a break and let your ears do the work.

    Leave you with a prediction: Silver (and gold) will continue down if the dollar index holds up. I don't expect it to hold up much longer, which means I am buying at these prices.

    Natural forces of supply and demand are the best regulators on earth.

  • guitarwesguitarwes Posts: 9,266 ✭✭✭
    rt1, I would advise you to eat your cheerios at a different table from now on as someone appears to be peeing in them every single morning.
    @ Elite CNC Routing & Woodworks on Facebook. Check out my work.
    Too many positive BST transactions with too many members to list.
  • BAJJERFANBAJJERFAN Posts: 31,083 ✭✭✭✭✭


    << <i>Good buys are everywhere. Just like good-byes, in a way. >>



    They may not end up being good buys in a couple weeks tho.
    theknowitalltroll;
  • rawteam1rawteam1 Posts: 2,472 ✭✭✭
    Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later...
    keceph `anah
  • derrybderryb Posts: 36,836 ✭✭✭✭✭


    << <i>Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later... >>


    Let me know when you get there, I impatiently await your advancement and your insight. image

    Natural forces of supply and demand are the best regulators on earth.

  • TomohawkTomohawk Posts: 667 ✭✭


    << <i>Funny, that graph doesn't look symmetrical to me... I'll ask a couple of 4th graders later... >>



    Dude...is that because they are upperclassmen to your current educational level? I'm flat tired of your viewpoints laced with vitriol and ignorance. Just because you excel in name calling and misdirection doesn't make your points of view any more/less correct. Give me some meat...I find derryb's inverse comments compelling. I have also learned to listen (read) way more than I talk.

    I guess this opens me to your 3rd grade (or 2nd?) ire...fire away.
    ASE Addict...but oh so poor!
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