Silver Down To $20.76!

AllSeasons, in order to test your theory about DXY vs gold price I used MacroTrends values for the first week of January from 2006 to 2023, then ran linear correlations. R-squared for DXY vs gold price is 0.12. There is no significant correlation. Looking at the scatter plot bears this out. It's visually random. DXY is not predictive of gold price over a long period of time.

The correlation between year and gold price is much better, with R-squared of 0.64. The scatter plot shows a clear upward trend. I ran out the linear regression for the year vs price results and got a very useful number. The slope is +$59/oz per year, plus or minus $11/oz. While past performance is no predictor of future results, it does put a number on the "store of value" effect I've seen with precious metals for the last 30 years. It's also quite linear in appearance on the scatter plot, indicating that the % appreciation per year is dropping. In 2006 it was 10% a year (gold at $600), and now it's 3% a year (gold at $1800). That's not a good thing in our current high inflation period. Gold is not storing value as well as it did 18 years ago.

18 sets of values. It would be better to use every week, but I was in a hurry. I just wanted to get a general idea. In a multiple correlation DXY might contribute a little, but I wouldn't expect an effect greater than $5 per year.

It's easy to find separate trendlines of DXY and gold against time but I couldn't find them correlated against each other. In the short term it could be more significant in explaining price gyrations. Over a period of years DXY fluctuates wildly.

My take on anything that you don't take physical ownership of the metals is concerning. Good luck in getting actual silver with a SLV. When you say SLV do you mean EFT Exchange Traded Fund? I googled it. You mean shares in a silver trust. It's down 12% from a year ago. But like I posted above good luck getting actual silver from the fund.

Yes, the SLV silver etf. Why would it be concerning? Its not like the SLV is the equivalent of the abundant manipulated Pink Sheet scam stocks people can throw their money away in.

Obviously, the SLV is just an investment vehicle & an investor has zero ownership of physical, similarly to that of a silver certificate currency. IMO, a silver paper-trade would be more convenient in almost every aspect.... 1) You can get a better price, 2) the time it takes to buy online and receive bars, bullion, culls, rounds, etc., or drive to your local LCS and do the same, 3) weight of physical, 4) and when you're ready to cash in, the time it would take to resell physical.

Utilizing an online investment account, it takes seconds to open/close a position buy hitting buy/sell.

If I may jump in here, my opinion is that SLV and physical satisfy different needs and different purposes. I don't think SLV is intended for stacking purposes, because as someone said, it's not physical - if you can't hold it in your hand, you don't own it. In my opinion, SLV is purely for speculative investment purposes, for those who seek gains in the short to medium term. This is very different from stacking physical silver, whose purpose is not so much for investment, but for wealth preservation and dare I say, doomsday prepping. I don't think there's anything wrong with either, if that's your thing, but just make sure that you choose the right vehicle for your purpose. I just wanted to make that distinction clear, or at least, that's how I think about the two.

Having a background in the market (I'm not a financial expert by any means of the imagination but have been trading since mid 90's internet boom) I guess I have a slightly different perspective on the way the GLD/SLV are perceived. The way I personally view both paper & physical, they are both investments.... as my end-goal is ultimately/eventually to make an ROI. When I'm trading, my approach is to make quick money.... as I mentioned on my Feb. 24th post in this thread. Had I followed through on my original idea & bought Options when the technicals indicated a set up likely to generate some money, I'd be up alittle over +100% in 4 days. Having a trading tool at my disposal, has allowed me in the past to utilize the profits, buy physical & sit on it because I absolutely have an appreciation for physical, as I do own a few slabbed morgans, culls/junk & gold.

That being said.... my collections isn't nearly as cool as hf's stash. To all that have commented, thanks.... its been educational/interesting to get others perspectives on said subject.

Doesn't bother me as I will continue to buy regardless of price. The dip just means I can get a little more for my money.