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 Replies: 101 / Views: 15,573 |
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Pillar of the Community
2087 Posts |
Quote:
No this is nothing like the drop back then. Back then silver went from $50 an oz on Jan 21 to around $30 in three days (A loss of 40%. By Mar 27 it was down to $10 an 80% loss). Gold went from $850 on Jan 21 to $624 on Jan 28 (a 26% drop in one week)and then dropped another hundred over the next month hitting a low for the year of $481.50 on March 18, an overall 44% loss. MMMMM still looks very similar to the start of the 1980's drop to me: This guy,Gartman, must be a very young wipper-snapper!! http://www.cnbc.com/id/100640665Edited by austrokiwi
04/15/2013 10:26 am
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New Member
United States
8 Posts |
I started seriously buying again when it went below $30 and will have to make a trip to Silver Towne if it gets below $24.00 because it WILL be going back up.
JMHO
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Pillar of the Community
United States
899 Posts |
I am hoping it goes lower so I can buy some lower priced bullion. That said - I hope it doesn't drop off the face of the earth. I also don't relate my collectors coins to the price of silver. But if I read between the lines here - I suspect the drop in the other coins might not be as dramatic as people hope - because of the increase in demand will cause them to hold value.
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Valued Member
United States
493 Posts |
Hard to say, I'm kind of spooked on buying investment grade silver right now. Last night we were down to about $22 and that was the dip, 100 oz. bars were around $2300 at the time, but it looks like we are headed back up for now. Probably consolidate somewhere around here and we go sideways again. Silver is a tough market to call.
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Pillar of the Community
United States
1536 Posts |
I have not seen silver prices this low. I just checked and it is at $23.42. Good thing most of my junk silver is roll finds and just have one silver Eagle and a silver bar I am not wanting to part with anytime soon. Most of my silver coins I bought have some sort of numismatic value.
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Pillar of the Community
United States
621 Posts |
I hope this upswing ends soon. I want to see $20 an ounce silver!(id love to see $10-$15). My optimism is fading though. at around $22 it looked like it just might make that but then it starts going back up on me again:(
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Pillar of the Community
Canada
2019 Posts |
Silver isn't going to go down ,like some have said , we are in uncharted waters, you cant go by past history this time, buy some while you can get it at $23 .
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Bedrock of the Community
13014 Posts |
You cant claim that were in charted waters while also claiming its not going to go down. Theres no reason it cant keep going down. Its acting in a very similar way to last time as well. Its very rare something just crashes without getting sideways movement on the way down
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Pillar of the Community
Canada
2019 Posts |
@basebal21 I understand what you are saying but when you look at the state of the world economy , the amount of people now in the world 7 billion going on 8 billion , the industrial use of silver , the increase in bullion collectors, not just to buy and resell but to hold plus its way under valued to start with and other factors I don't see it dropping below $20 or even 22/23 an ounce and it wont be down long before it heads back up. I know some here say the opposite but that's how I view silver at this time. Everyone is entitled to their own opinion. Wrong or right  Edited by Northerncoins
04/17/2013 1:59 pm
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Valued Member
 United States
271 Posts |
It's now 23.24, this is by far the lowest I've seen it go this decade. It's a great time to fill up common date silver holes. My only problem is from 1892 to date I only need two dimes, four quarters, one Half, and a few Morgans.
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Pillar of the Community
United States
1088 Posts |
I am a buyer at this price. I was a buyer at any spot price sub $30. The thought is to invest now and wait a few years to sell. we shall see how that plays out for me.
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Bedrock of the Community
13014 Posts |
Quote:
I understand what you are saying but when you look at the state of the world economy , the amount of people now in the world 7 billion going on 8 billion , the industrial use of silver , the increase in bullion collectors, not just to buy and resell but to hold plus its way under valued to start with The world economy isn't really in any worse shape than its been since 08, people kind of adjust to new things over time and a sluggish economy looks to be the new normal for a while it just took an adjustment period. Keep in mind the number of people in the world is relative out of those 8 billion at least half couldnt care about metals and thats just for the ones with the ability to buy. Maybe 20-25% give or take 5 or 10% are actively buying metals. They may even be generous considering all the poverty in the world. As far as undervalued I dont see it personally at best its debatable. Its never been a super valuable metals its always been something with a reasonable amount of value but nothing more. I dont see what that is supposed to have changed where now its supposed to be worth 100s of dollars. Especially since buying slows down in the low 40s and certainly in the high 40s. I definitely agree we all have our own opinions and time will tell. As humans we also have a tendency to ignore history. I also think we have a tendency to have the doom and gloom this is the worst situation ever. This isn't the first financial crisis and it wont be the last. Well do something stupid again sometime in the future and spike the price once again to go through the cycle all over again |
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Pillar of the Community
Canada
2019 Posts |
Actually I hope it does go lower so my money goes further as I intend to keep buying, within my budget of course. Well mostly within my budget.....  Edited by Northerncoins
04/17/2013 6:08 pm
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Valued Member
United States
264 Posts |
I recommend all those concerned about silver/gold markets to read the comments posted on CNBC articles about this subject.
Why?
Many people who believe the FED is doing it right are posting comments like:
"The drop in gold proves that our debt is not a problem"
"Invest in US currency!"
I enjoy these fringe comments because it proves that many people who support our high national debt are interested in the gold markets.
Their interest confirms my interest in bullion and the fact that our national debt will one day result in a severe USD correction.
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Bedrock of the Community
13014 Posts |
Rgath I dont understand the connection youre making between peoples comments and institutional interest in pms
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Replies: 101 / Views: 15,573 |
First Page
Posted 04/15/2013 3:15 pm
