Silver Dips Below $30

I said 30 bucks by Friday, an it may steam past that still yet....

I plan to double my stock say Friday an open back up shop, just waiting for funds in transit between pp an my bank account. So you should expect 35 silver an 1700 gold be weeks end, lol....

You'd think so, wouldn't you? She's still peeved that I "lost" thousands of dollars because I bought at $31 instead of waiting for $27, especially since she told me to wait. Now I have to take my medicine like a big boy...

Believe me, I tried that...

Quite a thrill on this roller coaster ride!

Pushing $29 an ounce...

Just saw an interview on Kitco. It seems there is a glut of refined silver on the physical market. There is nowhere near the demand for the available supply. And the surplus has been growing. Apparently much above the $30 level you have demand destruction in the physical market.

One of my clients has asked me to do an inventory of his stock to see if any of it is worth selling as numismatic items, rather than as bullion. Apparently the refiner he works with is limiting his silver intake at this time.

The Kitco interview left no doubt that the run up in Silver prices is due to the Speculator market; no more, no less.

And with so many people losing their butts in that market, combined with lower physical demand I really doubt you will see $40 silver. Except maybe as a blip before the crash.

Seems that all those people that thought that silver would rebound and hit $40 or that magical $50 and make them not look like fools for buying up silver at $35 must now be crying.

Silver is just going to keep dropping in value like it did in the 1980s after it hit the high point and then took a massive dive to the real value. It already has gone from an average of $35 to an average of $29. Won't be long before silver is the true $15 value again like it should be with inflation.

I still have to laugh at the losers on ebay trying to sell an ounce of silver at $40 just to try and break even because they actually believe all the garbage about silver staying high in value. Like the person posted silver won't hit $40 again for decades now that it is dropping.

All you silver nuts won't get any deals when it hits $15 again just like you aren't now with the price drop as the horders like you all will just wait for the price to rise to sell again.