| Author |
 Replies: 111 / Views: 11,050 |
|
|
|
Pillar of the Community
United States
1200 Posts |
9:16am EST Friday 7/5/13 -- $18.95 and on the way down...
Yet another prediction comes true.
|
|
New Member
United States
8 Posts |
Let's see who this gets action from :^)
I predict (again) that Silver will hit $30.00 by the end of October 2013!
|
|
Valued Member
Canada
281 Posts |
Call it wishful thinking but I'm in your camp BC. Summertime is always a bummer for PM's.
And it could be sooner if any financial crisis (a la 2008) arises between now and then.
|
|
Valued Member
Canada
281 Posts |
News flash;
For the 1,2,3 and yesterday the 8th of July which were the only working days for the US Mint up to now, the total silver sales is already at,
1,648,000 ounces
|
|
Valued Member
United States
410 Posts |
Quote:
News flash;
For the 1,2,3 and yesterday the 8th of July which were the only working days for the US Mint up to now, the total silver sales is already at,
1,648,000 ounces Yet prices continue to fall as they have all year and as they have been for 2 years. |
|
Bedrock of the Community
13014 Posts |
The mint can sell it all it wants, its a long long way from out selling supply. The only thing saving the price of metals right now are the ETFs
|
|
New Member
United States
8 Posts |
My estimate of $30.00 is low in relation to others who invest millions in silver and with a current demand of 1,000,000,000 Ounces Per Year and a 20% estimated growth in demand over the next three years even 1,648,000 ounces is nothing!
|
|
Bedrock of the Community
13014 Posts |
Youre assuming that much new silver has to be mined to meet the demand though, which it doesn't. A large percentage of silver is constantly being recycled into new products.
|
|
New Member
United States
8 Posts |
Not at all... in 2012 recycled silver accounted for approx. 254 million ounces which is less than the previous years 258 million ounces and still only about 25% of the current demand.
|
|
New Member
United States
8 Posts |
If not for Paper Silver and until recently, Government Sales, the price of Silver would be much, much higher. I hope everyone has a great evening and that I have not upset anyone with my comments.
|
|
Bedrock of the Community
13014 Posts |
If it was for the ETFs wed be seeing sub 10 dollar silver. Theyve continuously provided support points for the price on the way down. If there really was a shortage you wouldnt be able to find silver, but you can and you can find it anywhere. If there really was a demand for 1 trillion ounces a year it would be harder to find. The first clue about an actual real shortage and not just a supply shortage would be bullion products would be stopped by mints for products with a higher profit margin like the proofs. Dont worry about upsetting anyone, no ones got thin skin here or at least I dont  . |
|
New Member
United States
8 Posts |
Final comments, then it's off to bed... Silver is not available anywhere around Wheeling, West Virginia. I even called SilverTowne in Winchester, Indiana (usually hit them once a month) and was told they had nothing available. So, it is not everywhere and plentiful. As a matter of fact I have been trying to get it here at 20% over melt and no go. I almost sold out Sunday at $25.00 per ounce for bullion and even my better items are going fast at $40.00 - $125.00 per ounce. Have a great night and happy collecting everyone!
|
|
Bedrock of the Community
13014 Posts |
Ben, theres certainly pockets of places where things are hard to find but thats a supply shortage not a market shortage. Im not sure why Silvertowne said they were out, their website says they have a lot in stock. Thats rather odd actually. Provident Metals, Texas Metals, APMEX all have bullion ASEs in stock as well as others. Texas Metals probably has the best prices right now at 22.66 for ASEs for an order of any size. Theres a few hundred thousand ebay listings as well even though those prices are high. But the point I'm getting at is theres a difference between a supply shortage and an actual shortage. Think of it this way, if I go to the grocery store and theyre out of corn it doesn't mean that theres now a shortage of corn it just means there isn't any right there. When talking about actual shortages we have to look at the market as a whole and what we can see from that is that theres a lot of places someone can buy silver from. If there was a real shortage that wouldnt be the case and resupplies wouldnt be on the way. |
|
Valued Member
Canada
281 Posts |
Quote:
theres certainly pockets of places where things are hard to find You ain't kidding. Montreal, a city of close to 2 million. 3 little lousy coin shops with mostly stamps and/or irrelevant coins and tokens. Bullion? you can forget about that, none of them have any readily available. It's pretty pathetic.There is Kitco here which is OK but has very limited choices. A few years ago one of them got his hands on a few big bars J&M and Engelhard, so I picked those up but not because they were sitting under the counter, no no, we had a mutual friend and that's how I was able to purchase them, otherwise he wasn't selling to the general public. Thank God for the NWT Mint,SGB,Scottsdale, First Majestic and ebay or else I wouldn't have much because I wasn't going to send any money wires to another country |
|
Bedrock of the Community
13014 Posts |
Quote:
You ain't kidding. Montreal, a city of close to 2 million.
3 little lousy coin shops with mostly stamps
and/or irrelevant coins and tokens. Bullion? you can
forget about that, none of them have any readily available. Im both surprised by that and not surprised at the same time. Here in the states (at least where I've been) it seems like I find more shops in smaller areas where the price of business is cheaper than I do in cities. Its not to say I dont see them in cities but the ratio of shops to people seems to suffer in the cities. With that said only 3 shops in the whole city does seem low, especially the part about none regularly selling bullion. Has it always been like that there or do you think the growing internet market has forced some shops to close? |
| |
Replies: 111 / Views: 11,050 |
First Page
Previous Page
Posted 07/09/2013 12:24 am
