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 Replies: 66 / Views: 8,540 |
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Pillar of the Community
United States
4008 Posts |
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Remember the warm weather months of June through September tend to be the worst time of year for PMs.
Indeed so. Those are the "winter is over, it's time to be happy" months.  I keep waiting for silver to pull back a bit before making a substantial buy but it just keep chugging higher and higher. I am making some small buys here and there, though. Considering that my small collection is more like financial insurance and a hobby, I can't worry too much about price. I'll be buying small amounts on a regular basis for the long term and will no doubt get some at higher and lower prices that will average out OK. If there is a major pull-back in the price, however, it will be "game on!".  |
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Rest in Peace
United States
9104 Posts |
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UNfortunately for them, miners kept producing silver to inject into the market and they ran out of cash before the world ran out of silver. That is what caused the crash when they could not keep buying and folded their cards. Sorry, but no. They could not keep buying, but it had nothing to do with lacking money. The rules were changed on the commodity exchange, and limits were placed on the amount of silver one could buy in a month. They had contracted to buy several times that limit, and had to sell to other buyers, at drastically lower prices. When those lower prices were used to calculate their holdings' value, lenders stopped lending, creating more downward pressure. |
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Pillar of the Community
United States
3670 Posts |
Just checked an all the four are up big again today, gold 19 bucks to 1456, and silver is settin at 39.22.... You guys have all your prediction egg's tied up in historical charts via the summer dip, and I for one am a huge believer in history and that way of thinking I promise you all, but this year may be unique perhaps, as we have this ugly debt that is not going away, and like we all know the truth of the fact, that when you can't even pay the interest on money owed, you are in big trouble, and debt does not go away or disappear. Like a new recent thread, the cap (soon to be re-raise) will happen here around the third week of May, and with small wars looming here and there in the middle east,(nothing new there of course) unusual amount (to me at least) of natural disasters an relief efforts, and finally always more people born every second and less an less food an water every day. Not to mention not enough mined to meet demand. Well that is a formula to 50 plus dollar an oz silver much sooner than most think.... I do have 68.74 predicted in Hybes monthly silver contest, and I had Duke winning national title last year in my bracket, and Uconn winning it all this year, and I finished 641 in nation on the sports south hooters bracket contest, just missing out on 60 inch flat screen, 1300 cash (would have been a gold buffalo), and of course the big lose, a one year free supply of Hooters wings, rof  . My point being I am a bit of a Nostradamus these days, back to back national title predictions, odds are more in favor of winning the lottery than doing that back to back years, so nearlly 70 dollar silver by years end, get ready for it, lol.... Edited by Silverhawk74
04/05/2011 4:02 pm
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Rest in Peace
United States
9104 Posts |
A major bullion broker once said to me "I've never seen a tree run out of sky." Even when it looks like prices will get higher, eventually, there's a peak point.
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Pillar of the Community
United States
3670 Posts |
You know if the dollar was strong again and the country was debt free with strong leadership, and gas was 2 bucks a gallon, I would be fine with silver planning out at 25 bucks an oz, but that just is not the situation. So we all have to adapt to the cards we are dealt, hence me getting into pm's to begin with....
If you have a scale old school style, and on one side is the failing dollar tipped low, and the other side is precious medals tipped high an rising, it would only make sense to me, to get on board the precious medal side and have some security or peace of mind if you will in case things get really bad. May be the only thing that tips your family in favor of survival instead of not in the wrong negative situation, that no country or individual is immune to....
I guess after my countless lines of ranting, my main point is why not take a negative situation and try and gain something positive from it if possible....
Edited by Silverhawk74
04/06/2011 01:08 am
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Pillar of the Community
United States
4008 Posts |
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I guess after my countless lines of ranting, my main point is why not take a negative situation and try and gain something positive from it if possible.... - Silverhawk
Hey, man, it's only a rant if the reader disagrees with you! And from what I am seeing in the markets and in the various economies around the world, nothing could be further from my mind. You know, things very often are a matter of perception. When people drive to the gas station and see a $4 per gallon price, they just cringe. If they knew what we do, they would be thinking, "Hey, gas is up to 1/10th oz. of silver these days. What would that be? A couple of silver dimes and then you get some change back? So maybe gas prices are not as out of line as some people think. |
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Pillar of the Community
United States
2541 Posts |
I went to a coin show today - it's crazy to see Eagles going for $45!
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Pillar of the Community
Canada
902 Posts |
There is talk of silver hitting $250, not good for those of us still seeking silver coins.
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Bedrock of the Community
United States
10982 Posts |
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You guys have all your prediction egg's tied up in historical charts via the summer dip, and I for one am a huge believer in history and that way of thinking I promise you all, but this year may be unique... This is a good point to ponder. Summer lows for PMs are "traditional" but this year might be different. When some of the JPMorgan/COMEX manipulation ended last fall, silver has gone from $19 to $41 in about 6 months. When it will slow or drop is anybodys guess. Could go to $75 or $100 this year for all we know!  |
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Valued Member
 Cyprus
349 Posts |
it appears that the silver price hit about 50 per oz then crashed. Maybe for those long in silver it is merely a buying opportunity........
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Valued Member
Cyprus
349 Posts |
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Rest in Peace
United States
9104 Posts |
Quote:
UNfortunately for them, miners kept producing silver to inject into the market and they ran out of cash before the world ran out of silver. That is what caused the crash when they could not keep buying and folded their cards.
Please quit repeating that nonsense. They had plenty of cash/credit. The manipulators created a new rule that only allowed any buyer to purchase so many oz of silver per month, far, far less than they had contracted to buy. What do you suppose would happen to the price of Cadillacs if a dealer who had been selling 50 a month to one buyer could only sell five to a customer, and had already bought that month's 50? Let's say he couldn't floorplan them, and had to pay within 30 days. Instant price drop! |
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Pillar of the Community
United States
3592 Posts |
biggfredd, although you are correct...you have quoted and responded to the same thing twice...and then said "Quit repeating" |
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Valued Member
Cyprus
349 Posts |
Looks like the banks who short silver have forces some of the speculators out of the market
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Rest in Peace
United States
9104 Posts |
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you have quoted and responded to the same thing twice...and then said "Quit repeating"
Apologies for an essentially double post. Forum software doesn't always work right, and sometimes doesn't show where I read a post/thread, so I end up reading it, and sometimes commenting on it, twice. |
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Posted 04/05/2011 1:50 pm
