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Silver is up, up, up!

erwindocerwindoc Posts: 4,925 ✭✭✭✭✭
Anyone think the surge from the first of the year is temporary? I bought LOTS (for me at least) when it was at the $14 price level and Id like to buy more.

Comments

  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    Originally posted by: erwindoc

    Anyone think the surge from the first of the year is temporary? I bought LOTS (for me at least) when it was at the $14 price level and Id like to buy more.




    Even at today's price silver spot is very low compared to historical highs. Considering the lack of resolve on the part of our government to solve our budgetary issues I think precious metals will have a very bright future.

    Worry is the interest you pay on a debt you may not owe.

  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭
    [Silver is up, up, up!/I]

    Sure is. Up 300% over the last 15 years.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • hchcoinhchcoin Posts: 4,825 ✭✭✭✭✭
    There are lots of signs pointing to a long term surge in silver prices but things never seem to go as planned when it comes to predictions.
  • jmski52jmski52 Posts: 22,297 ✭✭✭✭✭
    I didn't know it was up since the beginning of the year.image

    How does silver figure into your finances? Is it one of several investments, how long before you retire, how will you respond if it goes to $10 after you buy? Do you consider it a hedge against any type of circumstance? What alternative uses do you have for the money?

    These are some basic questions you should be able to answer. I can give you a number of reasons to buy silver, or not to buy it. I like it, but my circumstances are probably not the same as yours - and I've always liked it.

    What do YOU think? Do you think it's going up, any time soon?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • PerryHallPerryHall Posts: 45,296 ✭✭✭✭✭
    Originally posted by: jmski52Do you think it's going up, any time soon?




    Yes. Depending on who wins in November, silver may go up faster or slower but it will go up in value. I see inflation in our future.

    Worry is the interest you pay on a debt you may not owe.

  • tneigtneig Posts: 1,505 ✭✭✭
    I bet its not the main percentage of folks personal finances and in general its more of a dabble with a collection or a stash, then a 'real' planned hedge or safety backup.

    From dealing with the pawn shop I can see there is a constant flow through peoples hands, which may or may not be profitable to them, but actually utilizing its value for something else, or grabbing values on the buy end.

    For me its been a percentage and fun. However since out of work for a year and now retired and drawing from my regular savings, the 'metal' percentage is creeping up automatically, not that its overall value was a gain as yet. My plan is to sell later, hopefully when its higher or flush, not leaving a single coin rolling when I go.

    Originally posted by: jmski52

    How does silver figure into your finances?


    COA
  • ajiaajia Posts: 5,400 ✭✭✭
    Originally posted by: PerryHall

    Originally posted by: jmski52Do you think it's going up, any time soon?




    Yes. Depending on who wins in November, silver may go up faster or slower but it will go up in value. I see inflation in our future.




    I doubt if it really depends on who wins in Nov.

    I vividly recall when, in 2012, the vast majority here were saying if Obama wins a second term silver will skyrocket.



    Nope, too many other factors worldwide driving prices up or down to look at the elections as a barometer IMO.



    Inflation in our future? Probably.
    image
  • jmski52jmski52 Posts: 22,297 ✭✭✭✭✭
    I remember when the Treasury had a few hundred million oz of silver in their strategic reserve - around 1973-1974 or so, and when the decision was made to sell it off, the predictions were for a stratospheric price increase in silver after the strategic reserve was gone. Then 1978-1980 came along and it all seemed so true.

    Then, 1981 came along. And then 1982, 1983 and 1984. And 1985.

    Now here we are. I wonder what the debt was in 1973? At some point, I still think that it will matter.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,108 ✭✭✭✭✭
    Originally posted by: PerryHall
    Originally posted by: jmski52Do you think it's going up, any time soon?


    Yes. Depending on who wins in November, silver may go up faster or slower but it will go up in value. I see inflation in our future.

    Politicians don't dictate metal price direction. It is controlled by those that control the politicians.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • VanHalenVanHalen Posts: 3,787 ✭✭✭✭✭
    Originally posted by: erwindoc

    Anyone think the surge from the first of the year is temporary? I bought LOTS (for me at least) when it was at the $14 price level and Id like to buy more.




    Temporary. Everything is temporary right? I still feel this cycle will bottom ~$12 and wouldn't be surprised to see $12 in the next year.



  • epcjimi1epcjimi1 Posts: 3,489 ✭✭✭
    PM prices inverse to oil price instability, as oil price suffers from over production, silver price creep up, once oil gets back to $70 / barrel, if it ever does, look out below. MHO
  • derrybderryb Posts: 36,108 ✭✭✭✭✭
    Originally posted by: epcjimi1
    PM prices inverse to oil price instability, as oil price suffers from over production, silver price creep up, once oil gets back to $70 / barrel, if it ever does, look out below. MHO

    On the contrary, I view a fairly direct relationship between silver and oil price direction.

    image

    The decline from democracy to tyranny is both a natural and inevitable one.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭
    Originally posted by: derryb
    Originally posted by: epcjimi1
    PM prices inverse to oil price instability, as oil price suffers from over production, silver price creep up, once oil gets back to $70 / barrel, if it ever does, look out below. MHO

    On the contrary, I view a fairly direct relationship between silver and oil price direction.

    image


    image

    and has been for quite some time...
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭
    Originally posted by: jmski52
    I remember when the Treasury had a few hundred million oz of silver in their strategic reserve - around 1973-1974 or so, and when the decision was made to sell it off, the predictions were for a stratospheric price increase in silver after the strategic reserve was gone. Then 1978-1980 came along and it all seemed so true.

    Then, 1981 came along. And then 1982, 1983 and 1984. And 1985.

    Now here we are. I wonder what the debt was in 1973? At some point, I still think that it will matter.



    Silver is the same price today as it was in 1981, isn't it?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • cohodkcohodk Posts: 18,548 ✭✭✭✭✭
    Originally posted by: OPA
    Originally posted by: derryb
    Originally posted by: epcjimi1
    PM prices inverse to oil price instability, as oil price suffers from over production, silver price creep up, once oil gets back to $70 / barrel, if it ever does, look out below. MHO

    On the contrary, I view a fairly direct relationship between silver and oil price direction.

    image


    image

    and has been for quite some time...


    And if oil is dead for the next 10-20 years?

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,108 ✭✭✭✭✭
    Originally posted by: cohodk
    Originally posted by: OPA
    Originally posted by: derryb
    Originally posted by: epcjimi1
    PM prices inverse to oil price instability, as oil price suffers from over production, silver price creep up, once oil gets back to $70 / barrel, if it ever does, look out below. MHO

    On the contrary, I view a fairly direct relationship between silver and oil price direction.

    image


    image

    and has been for quite some time...


    And if oil is dead for the next 10-20 years?


    Dare you to place that bet.

    Historically, low prices for an asset increase demand. Over supply will diminish over time and it won't take anywhere near 10-20 years. Increasing conflict and turmoil in the oil regions will speed things up.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • derrybderryb Posts: 36,108 ✭✭✭✭✭
    Appears the volume dealers are starting to lower their ASE premiums now that they can sell for more than they paid.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • TwoSides2aCoinTwoSides2aCoin Posts: 43,793 ✭✭✭✭✭
    It's all relative to a new day the same old way.
  • rickoricko Posts: 98,724 ✭✭✭✭✭
    The individual that recognizes a confirmed direct link between PM's and 'something' will indeed be

    a wealthy person... until others discover the 'secret'. image Cheers, RickO
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