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 Replies: 18 / Views: 3,113 |
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Valued Member
 United States
182 Posts |
@Macmercury
Well, it was for most of it. I got into PMs only recently around December last year, I hadn't sold any except 6 ounces this month just before this massive sell off or whatever just happened. Sold mine for average of $29.33/ounce, so perfect time to pour the money back in and buy more....
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Bedrock of the Community
United States
12477 Posts |
Part of me hopes it gets below $20 so I can add to the stash.  In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Pillar of the Community
United States
4333 Posts |
Quote:
just before this massive sell off or whatever just happened. The usual paper dump. Still, nothing wrong with your taking a profit. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Bedrock of the Community
United States
10284 Posts |
Funny how when you can use the money and have silver to sell the spot price is low. When things are doing pretty good, and money is not a problem spot goes up. I don't think these drops have anything to do with the stock market, current events or inflation.
I think it is being manipulated so mega rich people can buy the silver up that us wee folk dump in fear of losing more tomorrow.
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Valued Member
United States
314 Posts |
On any given day, there are a million reasons why the PM markets might go up or down and it really isn't clear until you look back in hindsight. The reason for this recent drop seems clear enough though if you look at the dollar chart. Dollar is suddenly strengthening after sliding since March. https://www.marketwatch.com/investi...x/dxy/charts |
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Pillar of the Community
United States
5838 Posts |
Looking over the Kitco chart, silver has gone back to the last 60 days value at around $22.
JPMorgan is being fine $1 Billion for manipulating the silver and treasury markets again, nothing new, except its the biggest fine yet.
Otherwise; we should have seen silver above $30 already.
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Valued Member
United States
314 Posts |
Maybe they manipulated the price artificially higher and the current price is fair market?
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Pillar of the Community
United States
5838 Posts |
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Bedrock of the Community
Australia
21788 Posts |
With a low of $12, and a high of $29 over the last year, I think I would be happier to bet on the horses instead.
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Pillar of the Community
United States
3843 Posts |
I'm thinking it is headed back to $16. Congrats to all of those collectors that took advantage of the spike to sell. I didn't sell but I didn't buy during the run up either.
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Valued Member
United States
314 Posts |
Further dollar (DXY) strength so probably more PM weakness ahead!
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Valued Member
United States
182 Posts |
I'm treating silver like I treat my mutual funds, I'm in it for the long term, and I plan on passing on the majority of it to my kids. Plus I just like holding it/looking at it.... the ups and downs provide little more than entertainment value.... I would sell and buy land though if prices skyrocketed enough.
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Bedrock of the Community
United States
12477 Posts |
Quote:
Plus I just like holding it/looking at it Same. In Memory of Crazyb0 12-26-1951 to 7-27-2020
In Memory of Tootallious 3-31-1964 to 4-15-2020
In Memory of T-BOP 10-12-1949 to 1-19-2024
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Bedrock of the Community
Australia
21788 Posts |
I have about 5 kilograms of (numismatic silver.)
Note which word between the brackets is underlined.
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Valued Member
United States
345 Posts |
Always watching ... never selling. I think about it, but realize that the "holding" of my precious metals, is for peace of mind and not investment type returns.
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Replies: 18 / Views: 3,113 |
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Posted 09/23/2020 9:39 pm
