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 Replies: 69 / Views: 6,310 |
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Valued Member
United States
264 Posts |
I maintain my buy rating for silver below $25 and still expect a mid-summer spike in PM's. However, due to my industry connections, I have changed my mind about PM investment in 2013! The US economy is poised for a major industrial boom which will start the 1st Qtr of 2013. Expect PM's to plummet as people move back into investment paper. Just my view, which comes from oil covered glasses.  |
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Pillar of the Community
United States
5855 Posts |
My wife and I agreed that we should make another substantial silver purchase if prices dropped below $31. Silver just plummeted nearly a buck and is currently sitting at $30.90. I've got my finger on the trigger but am agonizing over the fact that it will likely plummet another $1 the moment I make the purchase...
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Pillar of the Community
United States
5855 Posts |
Nothing like a self-fulfilling prophecy, eh? I pulled the trigger at $30.88 as the price was heading back upwards. Minutes later, it started heading back down and is now at $30.68 (and dropping).
I guess I'll never learn my lesson. But maybe if it keeps dropping I'll buy some more when it goes below $30...
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Pillar of the Community
United States
808 Posts |
An interesting start to Monday morning. Markets are way down so far today due to ongoing and increasing uncertainty about European debt problems.
Provident is discounting it's premium on silver Maples. PM prices are falling.
Dogs and cats living together... mass hysteria.
Okay, maybe not. But it's shaping up to be a nice buying opportunity.
Edited by coinwatch
04/23/2012 09:58 am
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Pillar of the Community
United States
5855 Posts |
Quote:
Provident is discounting it's premium on silver Maples. Interesting, since my purchase was actually a monster box of silver maples and I bought them from goldmart since (last time I checked) the premium was lower there than at Provident. I just checked again and the premium is still lower than at Provident ($1.99 over spot compared to $2.09 over spot). Plus, I got free shipping at goldmart. Although, to be fair, the difference in premium is only when buying a monster box of 500 coins. For smaller quantities, both places have the same premium of $2.09 right now. But then, that's why I bought the monster box in the first place... |
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Pillar of the Community
Canada
834 Posts |
Barryg,
Might want to look again, there doing a special 1.75 over spot on maples at provident.
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Pillar of the Community
United States
5855 Posts |
Really? I just checked their regular pricing on their Silver Maple page. I didn't check their specials...
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Pillar of the Community
United States
5855 Posts |
Ah, I see it now on their main page. You need to enter a special promo code.
Ah well, at least I got free shipping...
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Pillar of the Community
 United States
810 Posts |
I expect silver to drop to around 28 dollars an ounce this week. Before this summers over I expect silver to sit around 25-28 dollars. I think around election time is when PMs will take the biggest hit. Ill buy at spot price on silver when its anywhere from 17-23 an ounce. I could handle a 6 dollar loss if it drops from 23-17. I dont think silver will go any lower than 17 an ounce if it came to that point. Gold I'm thinking around 1200-1300 an ounce when Ill start buying at spot there. But until then thats all I'm willing to spend per ounce. I refuse to spend more than 23 dollars per ounce of silver right now.
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Valued Member
United States
364 Posts |
Dollar. Cost. Averaging.
Do not try to game the market; you might get hosed. Go long and buy every month. It's that simple.
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Pillar of the Community
1283 Posts |
I'm just going to keep buying I could careless if it falls into the $20's.
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Pillar of the Community
United States
808 Posts |
@TenSense and @throwbackid -  |
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Pillar of the Community
United States
810 Posts |
I do try to buy every month just not at what the value is at but lower to where I think it will settle. I'm going to keep buying and when my son goes to college Ill probably sell. Thats in 17 yrs so long way to go. I'm thinking about investing in copper too since its not much spending money to get. I want to make copper bars out of the scrap. I want to amass a 80 lb copper bar.
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Pillar of the Community
United States
808 Posts |
Quote:
The US economy is poised for a major industrial boom which will start the 1st Qtr of 2013. Expect PM's to plummet as people move back into investment paper. I hope you're right but that's a dicey prediction. This isn't the mid-20th century. America's industrial model is, like the rest of the world, dependent on a global supply chain of both raw materials and semi-finished goods. The old school of thought would be that devaluation of the US dollar would make our industrial output more competitive for export. Unfortunately, the devalued dollar also makes purchasing globally sourced raw materials and semi-finished VERY costly for American-based industry, thus driving up the base cost of American made finished goods before they even leave the factory!Additionally, current US tax policy is a politically charged and constantly changing target. As long as the US lacks a coherent and predictable domestic tax policy for business, the uncertainty is going to have a chilling effect on domestic industrial and business expansion. IMHO, a lot of VERY positive things will have to happen in a carefully orchestrated sequence of events before PMs fall out of favor with investors. |
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Valued Member
United States
264 Posts |
Quote:
Unfortunately, the devalued dollar also makes purchasing globally sourced raw materials and semi-finished VERY costly for American-based industry, thus driving up the base cost of American made finished goods before they even leave the factory! If we get a change in political fortunes this fall, it should take a year for cheap domestic oil to start flowing in from all directions domestically. With the US already exporting LNG to Europe (we will ramp this up ten-fold by the close of 2012), we are poised to be a exporter of energy again. I see nothing but good things for the value of the US Dollar in this situation. We just have to wait for the process to begin. During that time, construction/oil job growth in the Southern states will be a leading indicator of what is really going on with this economy in 2012-2013. |
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Replies: 69 / Views: 6,310 |
First Page
Posted 04/23/2012 07:45 am
