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 Replies: 2,529 / Views: 82,233 |
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Bedrock of the Community
 United States
10470 Posts |
Funny - can't bring up the Kitco website - must be too many people checking precious metal prices today - LOL!
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Pillar of the Community
United States
2829 Posts |
Silver is up 40% since August, the price is taking a breather. A -10%-15% pullback from $50 level would not be a surprise. Nothing goes up in a straight line.
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Moderator
United States
187446 Posts |
Quote:
Nothing goes up in a straight line. Especially rockets.  |
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Pillar of the Community
United States
2456 Posts |
yep, this little pullback was expected. it was cool to see silver burst through $50, but then only to take a dip back below it. silver has farther to go than just $50 or $100, just my opinion.
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Moderator
United States
187446 Posts |
Quote:
silver has farther to go than just $50 or $100, just my opinion.   |
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Bedrock of the Community
United States
36415 Posts |
I agree MrPink2018, gold will end up backing currencies around the world and the price will remain fixed. Silver on the other hand continues to be used up in industry and there will come a point where only a very high price will drag it from peoples hands.
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Pillar of the Community
 United States
5821 Posts |
And we're back above $50 this morning ($50.41 according to APMEX)! |
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Moderator
United States
187446 Posts |
Quote: And we're back above $50 this morning ($50.41 according to APMEX)!  $50.83 |
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Bedrock of the Community
United States
36415 Posts |
Banksters tried a smack down this morning but looks like it didn't work. I think they are losing control of the market.
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Moderator
United States
187446 Posts |
Quote:
I think they are losing control of the market.  |
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Pillar of the Community
United States
5821 Posts |
Well, it looks like it settled in for the week above $50, which is nice. What with the way the stock market plummeted today, I was half expecting silver to suddenly jump another dollar or three, but I'm just glad to see it stay above $50.
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Valued Member
United States
274 Posts |
I went to a coin show today, planning to sell some junk silver for a friend while I was there. Imagine my surprise to hear dealer after dealer tell me they weren't buying. Apparently they had received an email this morning from whoever they sell to (wholesaler or refiner maybe? I'm not sure.) and they are not buying from the dealers at the moment because they have too much inventory.
If inventories are getting high enough to slow buying somewhere in the chain,it is interesting that the price is staying up at this level. Maybe it tells us something about market dynamics and disconnects in various parts of it. It doesn't quite make sense to me. Anyone know what could be going on with that? Or does it just mean that a price drop is coming?
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Pillar of the Community
United States
5821 Posts |
I'm assuming the majority of silver being traded right now is EFT and not physical, so any pause in buying of physical silver due to too much inventory on hand won't really affect the price.
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Pillar of the Community
Canada
5391 Posts |
My my my , not buying at these levels.
We are about to revisit 1979 1980 .
Any one buying right now at these levels
truly needs a reality check !
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Bedrock of the Community
United States
36415 Posts |
Things are far different now than it was in 1979-80. You didn't have the world's financial system ready to go down because of excessive debt. I think the metals will consolidate in a narrow range then start the move higher again.
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Replies: 2,529 / Views: 82,233 |
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Posted 10/09/2025 3:37 pm
