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 Replies: 21 / Views: 3,924 |
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Pillar of the Community
 United States
586 Posts |
wow, gold spot is hammered again, @1199
I am aiming for 1130; silver might be around 15 then.
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Pillar of the Community
United States
606 Posts |
The last time silver dropped to $15, I didn't notice any changes in premiums. However, years ago weren't premiums pretty high when silver was below $10?
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Pillar of the Community
United States
586 Posts |
MontanaCMR,
Last year when silver was around $15, I noticed many dealers increasing premium for junk and generic rounds. At the time, commercial traders' short position was relatively low. My thought was, they closed their hedge/short position; however, spot kept dropping; so they had to do something to protect from further loss -- such as increasing premiums.
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Pillar of the Community
United States
586 Posts |
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Pillar of the Community
United States
1192 Posts |
I remember as a boy in the late 90's that Morgan dollars were $8 in the junk box plus spot. So like $15 at my lcs. |
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Pillar of the Community
United States
586 Posts |
@Bertensgrad
If spot falls through $12 in the coming months, that $15 Morgan might show up again.
Just a thought.
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Valued Member
United States
61 Posts |
Leon have you ever thought about being in something less stressful to you than the PM game? like being a solder of fortune in the Syrian civil war?
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Pillar of the Community
United States
586 Posts |
PM game is very exciting.
Game on indeed, gold 1170 now
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Valued Member
United States
110 Posts |
Leon,
Do you believe that the physical market is the driving force for the paper market? Most 'experts' that believe the PM markets are manipulated (which markets aren't these days), believe the paper market drives the physical price.
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Pillar of the Community
United States
589 Posts |
Quote:
Most 'experts' that believe the PM markets are manipulated (which markets aren't these days), believe the paper market drives the physical price. Banks have been admitted and have been fined for manipulation. There is no "belief" in it, there's fact in it. However, the paper market does drive the physical price since the markets from which the physical price is determined are trading paper, not physical. Let gold and silver hit $0.01 per ounce, each! It can't get lower than that (for all intents and purposes) if someone only wanted to buy one ounce. Until it hits that price, don't buy! Since you always risk the price going lower! (This is what I hear in my head every time someone says "the markets will crash". As far as I'm concerned, if you want to buy, then buy. If you want to wait, then wait. How many people waited too long on 30 November 2014 when gold and silver crashed overnight? How many people waited too long to sell metals a few weeks ago when silver was $18.40's and gold dipped into the $1300's? There will be dips and rises. That's how you make your money, if you're able to get lucky when you buy/sell. |
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Pillar of the Community
United States
586 Posts |
I would hold off any purchase on physical, until gold is below 1130 and silver is below 15.
From latest futures report, it is almost certain that gold/silver will revisit previous low.
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Valued Member
United States
110 Posts |
Leon,
What do you mean by previous low? There are many lows below $15. I would like to know how you think it will go.
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Pillar of the Community
United States
586 Posts |
@realmoney,
By previous low, I mean the low in the last Thanksgiving. I remember gold went to 1130; silver went to 14.5.
I will buy when those levels re-appear.
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Pillar of the Community
United States
586 Posts |
Hopefully I can make my first ASE purchase for this year. I have been saving and waiting for its price to drop below 17.5 ---------- then I can order four or five tubes. |
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Pillar of the Community
United States
1454 Posts |
Leon,
As far as I'm concerned (and the moderators, since they haven't spoken, as you've broken no forum rules that I'm aware of), feel free to start as many threads as you like, as long as you continue to supply useful, on-topic, and timely information. IMO, the forum has been on life-support every since silver dropped below $30 and the regulars dropped off, one-by-one.
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First Page
Posted 02/18/2015 1:20 pm
