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 Replies: 5,649 / Views: 461,688 |
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Valued Member
South Africa
453 Posts |
Is it a good time to buy silver?
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Pillar of the Community
 United States
3789 Posts |
@ASEnut - No it isn't. If you want to buy cheaper allow time to see what happens here first, not that I am saying buy dips, which you can do but at your own peril.
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Pillar of the Community
United States
3789 Posts |
... and interestingly enough, as the day progresses, gold and silver catching a bounce off those levels.
Why? because there is previous areas of support.
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Pillar of the Community
United States
3789 Posts |
and more follow through selling today on both gold and silver.
what I am looking for tho is for clear selling pressure on silver and gold. otherwise we continue with this push down to support and bounce off of it.
This has played out many times, it can't go on forever tho, as the more times an area is probed, it finally gives in. In this case we are touching the lower end.
lets see if we see traction to the downside.
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Pillar of the Community
United States
7375 Posts |
IMO as long as the stock market continues to rise, precious metals will continue to fall or stagnate. Everybody is psyched on dollars right now. When the next big hit comes to the stock market, silver will jump.
.....when Iran does their first nuclear test, metals will jump 25%.
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Valued Member
United States
276 Posts |
Why would an Iranian nuke test cause metal to jump 25%? Metals haven't seemed to respond to the other chaos in the world these days, so to expect a big jump on that particular event seems like it would have to have a more direct cause/effect relationship than a general worry over international tension. Even if such a test indicated a direct threat to the US, I don't see how it would indicate PM's to be a safer place than others.
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Pillar of the Community
United States
3789 Posts |
yea, its pretty clear for MANY months now that gold and silver have rejected global tensions and I highly doubt anything Iran does will make metals jump.
In fact, thats not how key turning points happen anyways. So no, there will not be an Iran spike lol
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Pillar of the Community
United States
3789 Posts |
well,, more of the same lol
We are in a very very very key area of support for gold and silver, how many times this area can hold before it gives in, I dont know, I just dont see it holding and would be surprised if it does again for another time.
Why? Because as we have discussed many times, with price, the more an area is probed, whether on the way up, or down, it eventually gives in.
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Pillar of the Community
Canada
746 Posts |
Quote:
BUT I have nothing palladium wise in my collection so I might bite on a bar for fun. Sounds like an idea, yup! Searched for what types of coins are out there; very limited selection but thought this one might interest you, since you're into elephants: https://coins.www.collectors-societ...spx?sc=47802Can't find a price, but imagine it comes with a hefty premium....  |
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Pillar of the Community
United States
3789 Posts |
@allspice
wow what a beautiful coin! dang I bet it is up there lol
I see Palladium dropped today, I bet it drops even more from here. I'd say let it come in and then nibble, and see what happens.
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Valued Member
United States
299 Posts |
ASEnut. Is it a good time?
This depends on your reasons and time horizon.
I am buying
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Valued Member
United States
299 Posts |
Sometimes we contrarians and make fortunes
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Pillar of the Community
United States
3789 Posts |
yea, except this isn't about that. Buying a commodity in a downtrend is a great way to lose money and buy things that will stay underwater for a long time. Of course its your money so do what you wish but dont complain and grouse down the road, you have been given fair warning.  |
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Pillar of the Community
United States
7375 Posts |
I'm no economist.
IMO, metals are cheap when people have faith in the economy. After 2 recent wars everyone is catching their breath, and things (the economy) seem to be going along ok. So metal prices are dropping, money is cheap, cash is king, and the stock market is good.
The middle east stuff is basically being ignored by us now while we have our heads in the sand.
The next round for us to get re-involved at a high level WILL eventually come. Peoples knees will get weak again, and precious metal prices will rise. BTW silver is NOT renewable. Recyclable yes. There is a finite amount of it as far as I know unless we've found a way to create it.
THESE ARE THE GOOD OLD DAYS
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Valued Member
United States
174 Posts |
edweather:
I agree, the good ol days are here (for PMs, at least).
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Replies: 5,649 / Views: 461,688 |
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Posted 09/08/2014 11:32 am
