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 Replies: 114 / Views: 16,615 |
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Valued Member
United States
170 Posts |
I think there is more going on then we know because of the dollar being strong and maybe for reasons unknown to us to keep others at bay.. to me PM drops because of this but it also means I get more for my stronger dollar and I am not going cry over offing prices when it can help me gain a lot more in my stack then the higher prices would.
Edited by Gold4Ever
04/21/2015 10:21 pm
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Bedrock of the Community
 United States
12862 Posts |
Quote:
I am not going cry over offing prices when it can help me gain a lot more in my stack then the higher prices would. Word. |
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Pillar of the Community
 United States
586 Posts |
Gold is below 1180 now, as predicted.
More downside ahead, my guess
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Valued Member
United States
170 Posts |
Sorry about that.. sometimes I don't type what I am thinking and I may type a whole different word.. to much lead melting I think (plumber and not con-artist)
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Pillar of the Community
United States
586 Posts |
Silver's pre FOMC run gain has been totally wiped out.
I am afraid it will go much lower this time.
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Pillar of the Community
United States
4333 Posts |
Waiting for $14 silver.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
586 Posts |
@fistfulladirt, you might get your wish as early as next Friday.
Recently there was a big money outflow from Gold Miners Stock; and US dollar bounced up from its support (It has been running on top of this support line for nearly a year! i.e. very strong support indeed). Next Friday will see the NFP report; Fed will have to make the data look good to justify their planned rate increase. I am afraid gold might crash to around 1,140 after NFP; and silver might go below 15.
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Pillar of the Community
United States
1068 Posts |
Quote:
I am afraid gold might crash to around 1,140 after NFP; and silver might go below 15. I could see Gold going to $1140 (but I doubt it happens) before Silver goes below $15... Every time Silver goes below $16, it seems to shoot right back up to around $17 and goes back down again, kinda like gas... |
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Pillar of the Community
United States
586 Posts |
@Bryan78,
The current gold/silver price ratio is over 70; which is absurd considering silver's annual production is only 15 times of gold in weight. In many ways, I believe the downside for silver is limited. That's why I would stack some silver when price is close to $15.
And you're right. Silver price tends to correlate with oil and gas, historically.
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Valued Member
United States
170 Posts |
It's the big banks doing it as they are selling paper silver between themselves to down the price so JP Morgan get the best deal on the real stuff to add to the pile..
Here's a breakdown of the Comex's most recent silver deliveries to JPMorgan:
April 7th: 1,110,000 ounces
April 8th: 1,280,000 ounces
April 9th: 893,037 ounces
April 10th: 1,200,224 ounces
April 14th: 1,073,000 ounces
April 15th: 1,191,275 ounces
April 16th: 1,183,777.295 ounces
that's real silver in hand..
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Valued Member
Canada
312 Posts |
^^^^......I'm pretty new to the silver and gold bullion stacking and I don't 100% understand what paper silver and gold is?.....is it like buying mutuals funds but in precious metals? I'm pretty junior to the game,but if that's the case and you don't actually have your precious metals "in hand",sounds kind of dumb/risky ? I've collected NCLT RCM coins since 2008 and finally saw the light and quit buying them do to the inflated prices.....I'm now a amatuer stacker....lol |
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Valued Member
Canada
312 Posts |
Leon1998..... Thanks for the advice about a possible drop in the metals next Friday.....I'm waiting to pull the trigger on a purchase of silver and gold at anytime now....the online cart has been filled for 10 days,just have to hit the checkout button.....I'm 100% sticking it out until next Friday to see what happens.....
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Pillar of the Community
United States
586 Posts |
@Gold4Ever,
I tried to google "Comex's most recent silver deliveries to JPMorgan"; and found that JPMorgan had taken large physical deliveries several times since July, 2013. It is evident that JP was accumulating silver; however, I am not using the event as a reliable buy trigger; because if you bought silver as early as July, 2013 ... ... ... you know.
Nevertheless, I am waiting for next Friday's NFP report before making a buy decision.
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Valued Member
United States
170 Posts |
My understanding is JP Morgan has to keep silver on hand so when people need to cash the paper product in and it killed them not having product as many made a run on the bank and they need to cover with real product back in 2008 and had to pay market price.. so yes they been buying just to cover there azz but what are they up to now is the question as the pile is bigger then the Hunt Bothers (1980) and Buffet combined..
prices should be at 1980 levels now because of what that have on hand but they are keeping it down as to buy.. if you watched Friday both drop like a rock about noon which shows what is going on what prices and why the SEC is not all over this means the U.S. Gov may be part of it as the drop was huge.
Edited by Gold4Ever
05/03/2015 10:28 am
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Pillar of the Community
United States
2130 Posts |
Silver has a long way to go to be below $15 by Friday....
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Replies: 114 / Views: 16,615 |
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Posted 04/21/2015 10:20 pm
