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 Replies: 20 / Views: 2,235 |
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Valued Member
 United States
176 Posts |
Well as long as we're on the topic, what do you think of the near future in terms of spot price? Think we'll see the $50 an oz price within 2 years?
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Bedrock of the Community
13014 Posts |
The general opinion will more than likely always be that it will rise until the economy starts to get better.
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Valued Member
United States
176 Posts |
throwbackid, if you ever get one hundred thousand ounces, I'd like to see a picture of all the bars  |
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Bedrock of the Community
13014 Posts |
Quote:
Think we'll see the $50 an oz price within 2 years? Itll probably touch it, but I hope we dont see that as the norm. Lots of things will go up in price. Theres really to many unknowns to really make an educated guess right now. After the election well know more about the future economic plans and then have a clearer picture. Until thats decided its all just guesswork |
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Valued Member
United States
176 Posts |
So I've heard that if Obama wins prices go up and if Romney wins they go down? Is that what the general feeling is?
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Bedrock of the Community
13014 Posts |
Generally yes, the 2012 hysteria could throw a wrench into that but like how gun sales have increased from Obama silver should see a temporary spike if he wins
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Valued Member
United States
176 Posts |
I guess I should become a Democrat then? Lol.
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Valued Member
United States
223 Posts |
Like the OP, I wasn't in the silver market last year with $50 per oz silver. A couple people I have come to know are still holding silver they bought at the peak.
I'm in line with the Obama up/Romney down theory. Personally I'm hoping for a Romney win but I'm not betting to the point of selling a sizeable piece of my stack now with the thought of rebuying after the election.
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Valued Member
United States
176 Posts |
How much would the elections influence the price? A +/- $1 or are we talking +/- $5?
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Bedrock of the Community
13014 Posts |
Quote:
I'm in line with the Obama up/Romney down theory. Personally I'm hoping for a Romney win but I'm not betting to the point of selling a sizeable piece of my stack now with the thought of rebuying after the election.  I wont be changing my buying habits on the chance of a short lived spike or drop. Also kind of a big risk for a close election if you guessed wrong who will win. Without a large hoard to sell though 50 dollar silver will cost more in the long run with higher prices of electronic goods ect. I dont mind it getting to 50 but Id much rather see it happen naturally over time and not be a fast climb Quote:
How much would the elections influence the price? A +/- $1 or are we talking +/- $5? Theres really no way to tell. I wouldnt be shocked if it was a dollar, I wouldnt be shocked if it was 5 dollars. I dont think either situation immediately sets a new base line price but could see a swing for a couple days or weeks. If the senate actually does something and avoids the fiscal cliff that could ease prices as well with no deal giving them a bump. Theres a lot of stuff in play this year right now that could have noticeable impacts on the price. Edited by basebal21
10/08/2012 11:00 pm
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Valued Member
United States
117 Posts |
To be honest, I was buying at the peak. But I'm in it for the long haul. I'm waiting for the U.S. dollar to either completely collapse, or like other countries, change the currency a little or just take a zero out, like what Mexico did, except not as many zeros, just one. The way I see it, all currency has an end, or at least needs a major overhaul. I'm guessing now or soon might be a good time.
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Pillar of the Community
United States
5837 Posts |
I think maybe will see $38 by election time, I bought and sold paper silver around that time more than I bought physical metal. I haven't stack as much as I wanted, so maybe I will change plan after reading this...
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Pillar of the Community
United States
5863 Posts |
Yeah, I just got into stacking when silver was at its peak and I did make some purchases. Fortunately for me, though, I was just dipping my toe into the water and didn't bet the farm. Every time silver has dropped since then, though, I have purchased a little more (sometimes more than just a little) and it was always a bit depressing to see the price drop after every purchase. Most of my purchases were when silver was below $33, though, so I feel pretty good now that silver is back up above that mark again.
Of course, part of me is hoping it does drop again so I can buy more without feeling bad about it. I have enough silver to feel comfortable if prices stay at this level or go up, but I'm always happy to have more...
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Pillar of the Community
United States
1450 Posts |
I have been a buyer and holder more than a seller. I got the bulk of my silver at or below $25/oz. so I am definitely above water. This volatility has stopped me from buying and selling. I look at my metals just as I do an insurance policy,I want it there when I need it. Some of you seem to find great deal when selling and buying.I have never been able to do that so I would suffer "average cost creep" if I look at premiums,shipping costs,auction fees, etc. if I kept selling and buying back so I buy what I can,when I can and hold for the long run. Right now my average ounce cost including all fees and shipping is right at $21/oz and my total hoard is 165 ounces. I will buy some more if the price drops some but I am trying to keep my per ounce average in the $22-23.
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Pillar of the Community
United States
4008 Posts |
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So when the silver price had the dramatic drop from the high of around $50, did alot of you lose money or did you see it coming? Seeing it coming is a VERY rare event in investing and in buying PMs. There are so many factors that can move the prices up AND down that it is pretty much a matter of luck when anyone does it. Skill vs. luck shows up in repeat-ability. If you can do something well repeatedly, it ain't luck. If it's a 1 or 2 time thing, then luck is responsible for the good fortune. I did buy a few ozs. when silver was in the low $40s but quit buying for a while after that. I'm in this for the long haul, so buy and hold is it for me. I like to buy the dips in an effort to keep my costs as low as I can. If you don't sell your silver when its price drops, all you have is a paper loss. It is only when selling below your cost that you convert a paper loss into a real one. If I want to jump in and out of a market, I use the stock market for that. I know and understand that market better and have done well there. |
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Replies: 20 / Views: 2,235 |
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Posted 10/08/2012 10:02 pm
