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 Replies: 743 / Views: 51,967 |
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Pillar of the Community
United States
1590 Posts |
i am curious if anyone else has noticed that Kitco's PM Survey they do for the following week has been wrong much more than it has been right.
In other words they survey a bunch of bankers and investors and ask them which way the PM market is going to go in the following week.
I always find it interesting that in an obvious bull uptrend without any news or events that could drive the prices down; that most of the experts give an opinion and that opinion is positive. Kinda like asking a blind man if the sun is up after they feel the sunlight on their skin. Safe bet and it increases their averages of being correct. Looks good in the prospectus.
If there are a lot of factors that could drive the price down; you get a lot more of the "experts" that simply don't respond. And the ones that do tend to be bullion sellers that say "buy gold"...a meteor will destroy the Earth today...buy gold!!! Hmmmm sellers wanting the price to remain high......conflict of interest? ...nahhhhhh.
Don't get me wrong I like to have my own stash of Silver for my GTH scenerio. I was a Boy Scout after all; be prepared. Doesn't mean I expect the worst to happen but I also buy Auto Insurance for the same reason...and have never put in a claim in 38 years of driving.
We all know the price of Silver is due to the Commodities/Gambling market ( they call them "bets" for a reason). Fear, not supply and demand control the silver market. The same btw for the Oil market. Well, fear and greed, I should say.
Fear and greed will take you to exalted heights; but eventually you have demand destruction. Remember bullion buyers are a very small portion of the silver buying sector. Albeit a vocal one.
I'm sure we haven't seen the end of the bull market. Just as I'm sure that it will go bust in the future. How is that for waffling? I should be a congressman!!
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Pillar of the Community
United States
3670 Posts |
Geeeez, good thing Smith23 and his 6 posts came along and warned us all to get OUT just in the nick of time, thanks brother, close one  ..... By the way, I aint got any pmz right now as I just sold them all a few days back, minus 3/4 an oz. of gold, cause I just flipped it all.... And who will be buying in the bottom of the dip soon in LARGE amounts, this guy.....     Edited by Silverhawk74
06/21/2012 11:25 pm
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Pillar of the Community
United States
593 Posts |
As a non-buyer (and non-seller) of PMs, other than the melt value of some 90% and 40% coins I need for my coin collection, I find the tone of Smith23's comments to be a bit immature. I don't turn my nose up at buyers of PM's and I've never had a PM advocate ridicule me for investing in the stock market. They both have risks and rewards. I don't wish failure for ANYONE'S investment strategy.
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Pillar of the Community
United States
1590 Posts |
Ummmm Hawk...I'm not saying he is right and I am not saying he is wrong...but the number of post of any particular member is not a guaranty that they will be right.
With that logic if Warren Buffet came on this board and with his single post said "buy"....well we could all just dismiss that because "he only had one post".
Just sayin
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Valued Member
United States
272 Posts |
True, but I think his tone said alot about his post as well.
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New Member
Australia
48 Posts |
As silver prices fall, this is an awesome window of opportunity to buy, buy, buy! For what my personal opinion may be worth, I buy physical silver more than any other form of investments and I recommend others to do the same with every spare penny. My portfolio consists of 95% silver bullion! The outlook on global economics remain very grim as we'll see the dow jones crash late 2013, early 2014 ... probably down to around 3500. We'll see the China bubble burst in the next few years. The only country in the world that will stand up ok (but is not immune to it) will be Australia because of it's strong natural resources sector, and the taxes the government take from all Australians and industries and businesses. What does this have to do with silver? Silver has been too low for too long. It's a consumable, it's becoming rare, mines are becoming exhausted, and by 2023 (provided you invest in physical silver regularly) you will not be in lower class of people. It's the old supply and demand scenario. Silver will rise very soon and it won't be stopping for anything for a lot of years. That's my 2 cents worth. |
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Pillar of the Community
United States
2130 Posts |
Silvernut, I have to agree w/ you. Silver is used in so many of today's products. I read a lot of articles on the shortage of silver and the role it plays in our everyday use. We are mining less silver today than we were 10 -20 yrs. ago & using it more in every day products than we used to. This is not rocket science. It's only a matter of time that the price will catch up to it's true value. In the meantime I'll keep buying.  |
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Valued Member
United States
458 Posts |
The above two posts explain why you should be stacking silver in such a simple way!
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Pillar of the Community
United States
5862 Posts |
I'm just hoping to complete my set of 5-ounce ATB bullion coins before silver goes through the roof. I'm investing for the long haul, so I won't mind if prices stay relatively low for the next 10 years and then take off... |
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Bedrock of the Community
United States
36830 Posts |
Quote:
Silvernut, I have to agree w/ you. Silver is used in so many of today's products. I read a lot of articles on the shortage of silver and the role it plays in our everyday use. We are mining less silver today than we were 10 -20 yrs. ago & using it more in every day products than we used to. This is not rocket science. It's only a matter of time that the price will catch up to it's true value. In the meantime I'll keep buying. In my state copper mines are a big industry. It is the major product pulled from the ground and with it comes silver and gold. When these mines cut back on production because of falling copper prices or EPA issues, the amount of silver and gold mined also falls. I think the majority of silver and gold mined in this country comes as a by product of other mined products. Many of us buy metals as monetary insurance. We have a core position that just does not get touched. Any drops brought on by the paper pushers only means that our next purchase is at a better price. I for one don't care where the price is, I buy when ever cash is available and am happy to add the metal to the stack. Common sense should tell everyone that the global financial markets are not getting better, they just continue to get worse. Politicians and bankers have no solution. It's just one band aid on top of another. PM's are the only true safe haven that has no counter party risk. Keep stacking at these bargain prices. |
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Valued Member
Canada
262 Posts |
@Silvernut I disagree about Australia, South Africa and Canada also have huge reserves and Canada's viewed as a safe-haven right now. I understand your patriotism but there's no way Australia would be at the top alone.
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Pillar of the Community
United States
3670 Posts |
Even Warren Buffet would need to post and earn the right to toss out that kind of dribble, before I would pay him any mind, lol....
Given with what he started with and who his parents were, it would be real hard not be successful minus being a total moron.....
Usually not what you know, but who you know in this world, always has been and always will be....
Not to say there are not geniuses out there that make it happen from nothing, via the FB founder for example. But those guys and gals are far and few between. I could only wish I had 1/20th the sense of a Mark Zuckerberg....
Edited by Silverhawk74
06/22/2012 2:54 pm
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Pillar of the Community
United States
1590 Posts |
"Charles Nedoss, senior market strategist with Olympus Futures,..Nedoss said silver will likely fall through support at the $26 level, dragged down by fears of slowing economic growth." Kitco news.
Basically they are saying that industrial demand is down and forcast to keep going down; and that bullion buyers are NOT picking up the slack in demand. Additionally the only thing keeping the price up right now are the ETFs...which are hoping for higher prices due to demand. There is also currently a glut of physical silver on the market.
My local guy, being a bit greedy, is selling at 25 times. 10 miles away they are selling at 19 times. The local guy is not selling anything, and can't figure out why. The seller 10 miles away is doing an OK business, but he said sales have been down for a few months right now. He cites the volatility in Silver spot prices for keep many of his customers away.
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Pillar of the Community
United States
3670 Posts |
I would also add that it ticks me off to high Heaven when one is like...."Neeeeenar neeeenar neeeenar, told ya so, I was right you were wrong! And I am happy about being right, and all your idiots failure makes me happy....
The difference from they and I is I wish for people to be SUCCESSFUL, all here. Even the Joe's and trolls of the world like Smith23. As I don't wish failure on anyone out of pure envy or my own failures or short comings....
Back on subject.....
"Basically they are saying that industrial demand is down and forcast to keep going down; and that bullion buyers are NOT picking up the slack in demand. Additionally the only thing keeping the price up right now are the ETFs...which are hoping for higher prices due to demand. There is also currently a glut of physical silver on the market."
I find that to be very interesting information, makes me nervous about silver esp. If gold falls to a grand it is still worth big money, but if silver were to suddenly lose that etf support, could be disastrous....
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Pillar of the Community
United States
808 Posts |
@MercuryDime - There just may be something to Silvernut's comments. Canada, for all it's extensive mineral and energy resources, is too closely tied economically to the USA to escape a major economic calamity in the States.
Also, South Africa is now facing growing political risk given that that fringe elements of the ANC are pushing hard for nationalization of that nation's mineral and mining resources, banks, telecommunications infrastructure and so on. The potential problems with nationalization are many and could greatly destabilize that nation and the entire region.
Australia, too, faces it's own problems when China's economic bubble bursts. But the Aussies may indeed be better positioned than most to survive and thrive following a global economic meltdown.
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Replies: 743 / Views: 51,967 |
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Posted 06/21/2012 11:24 pm
