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 Replies: 7 / Views: 1,393 |
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Pillar of the Community
United States
3670 Posts |
When I first started into pmz which will be 3 years come January and the new year silver was at 27 bucks per oz....
Since that time I have seen a push up for gold to 2k and silver to almost 50 per oz., and much up an down and sideways movement since....
ONE thing has remained true, solid foundation in high twenties which has kept me in the silver or pm game....
The noob mistake most make when they start (I know as I had similar hopes and I know many think like me in many ways I do or 180 degrees opposite of that as well) is to think gold and silver are gonna start PLANNING UP forever and never come back down....
Supply an demand works in a real simple way. Greed sees a chance to push prices higher seeing high demand and the price CLIMBS, until the buys pull back, especially in industrial bulk. O.K., what happens the powers to be lowers prices to suck everyone back in again and start it all over again via............................the CYCLE....
If PMZ slowly started up and NEVER started back down it would not be long until even big money industry pulled their orders WAY back, and the powers to be will have to relinquish....
HOW does this apply to you or me common Joe Smoe, real simple....
I am willing to bet 80% of us when silver was close to 35 per oz. and gold at near 1800, and we all thought the same thing before the next buy...."WHAT SHOULD I GET GOLD OR SILVER?"
I bet a high percentage of us figure silver a bargain at 35 per oz. and gold not so much.....
Many with nice gold 1 oz. bullion gems like a Buffalo may have been hoping for 2k plus on buy it nows, but probably never saw many sells, just a hunch and my gut feeling....
Amount mined verses money spent to get it is most key as well. I saw a report where industry burned through 5 billion oz. of silver last year, and no where that amount was brought in, this could change the bottom levels in time of the high 20's for silver.... Edited by Silverhawk74
10/15/2012 1:26 pm
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Bedrock of the Community
13014 Posts |
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If PMZ slowly started up and NEVER started back down it would not be long until even big money industry pulled their orders WAY back, and the powers to be will have to relinquish.... Exactly. Quote:
Many with nice gold 1 oz. bullion gems like a Buffalo may have been hoping for 2k plus on buy it nows, but probably never saw many sells, just a hunch and my gut feeling.... Regardless of what someone things a PM will do 2k a coin prices the majority of people out of it. Its a shame too they are a nice coin, but no where near 2k nice. Quote:
I saw a report where industry burned through 5 billion oz. of silver last year, and no where that amount was brought in, this could change the bottom levels in time of the high 20's for silver.... Ive actually heard the opposite that there was a surplus mined compared to sales. |
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Pillar of the Community
 United States
3670 Posts |
I heard that from the guy at the coin shop trying to sell me silver (via he heard it on headline news in front of him, lol), so that does not lend much credibility to his statement. There in fact 180 opposite as he was trying to sell me silver way high when it was close to 35 per....
So I bet you are right Baseball, which may support prices to come down back to high twenties soon....
Or, you never know, it may do the UNTHINKABLE, trick us all after a 2 plus dollar fall and turn back north, you never know....
Edited by Silverhawk74
10/15/2012 2:43 pm
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Pillar of the Community
United States
3670 Posts |
Oh yeah, now that I think about it he said it was gonna hit 80 soon, lol....
It will eventually, SOON I am not sold on just yet....
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Bedrock of the Community
13014 Posts |
Its possible, I think from the previous venture to 50 the large buyers learned most people pull out around 35 and will drive it or let it fall to the 20s again before making their price driving buys. Theres more variables than that but in a perfect world I think thats what they would like to do. Quote:
Oh yeah, now that I think about it he said it was gonna hit 80 soon, lol.... Lol you should have replied that you would be happy to sell him all your silver for 50 an ounce so that he could make 30 an ounce on it when it does Edited by basebal21
10/15/2012 5:30 pm
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Valued Member
United States
141 Posts |
Regardless of what someone things a PM will do 2k a coin prices the majority of people out of it. Its a shame too they are a nice coin, but no where near 2k nice. they said that too when gold hit 1300, that an ounce is not worth it for that price. I feel that people will always be willing to buy, as long as the price of gold is at a certain price. Hypothetically if gold was 10,000 an ounce, our economy is probably f'ed up, but there will always be people who can afford a gold coin for the price of gold. |
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Pillar of the Community
United States
3670 Posts |
"but there will always be people who can afford a gold coin for the price of gold."
Indeed so, but they will always be WAY more that can afford silver at 35 per verses gold at close to 2k per oz.....
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Pillar of the Community
United States
4008 Posts |
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they said that too when gold hit 1300, that an ounce is not worth it for that price. Heh heh... I've been thinking that since gold doubled in price to $500 an oz.!  |
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Replies: 7 / Views: 1,393 |
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Posted 10/15/2012 2:37 pm
