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 Replies: 19 / Views: 6,133 |
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Pillar of the Community
708 Posts |
I have been watching a site that sells silver bullion, for qiote a while now, and from what I see, it seems to be dropping in price. So, would it be good to buy some silver any time soon, or are we expecting a huge drop in price?
(I've checked on 1,000 ounce bars and I remember when they were almost worth $40,000, and now, they are just below $30,000)
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Valued Member
Australia
208 Posts |
I am no expert, but I think it will go back up, especially when Congress and the President try to deal with raising the US debt limit in a few weeks
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Valued Member
United States
239 Posts |
I see it slowly creeping back up to the $31/$32 range within the next few weeks.
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Pillar of the Community
United States
5850 Posts |
I don't think anybody can really make a credible guess at this point (except, perhaps, for those actively involved in trying to manipulate the market, but we all remember where that got the Hunt brothers...)
For 25 years or so, the price of silver remained flat at around $4-5. Then, over 4-5 years, it rose steadily until it got close to $50. Then it suddenly plummeted almost overnight to around $30, and it has basically stayed flat for the last year and a half. Is this just a brief plateau before it starts rising again? Is it getting ready to continue its downward slide? Is this the new "normal" and can we expect prices to stay around the $30 mark for the next 20-30 years?
As I said, nobody really knows. Lots and lots of conflicting theories, lots of people seeing "trends" one way or another, lots of people trying to analyze the reasons why prices go up or down and make predictions accordingly, but the only thing certain is that half of the so-called "experts" will always predict one thing while the other half predict the opposite.
Personally, I wouldn't be surprised to see silver dip a bit again in the near future but remain confident that it will go up in the long term. Anytime silver dips below $29 seems like a good time to buy a little more. And if it dips below $28 afterwards, I'll buy even more. I can afford to be wrong, however, since my silver purchases make up only a small percentage of my total savings and investment strategy. If you can't afford to be wrong, however, your best bet may be to not risk it at all in case silver ends up collapsing at some point.
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Valued Member
United States
223 Posts |
What did silver do percentage wise the last time the DOW hit all-time highs? We are at that point today and I see a massive correction for the DOW in the very near future. I wasn't a silver buyer in 2008 and didn't pay attention to the commodities markets then.
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Valued Member
United States
239 Posts |
I think its safe to say buying silver right now at under $35/oz is a good deal.
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Pillar of the Community
United States
5850 Posts |
Quote:
What did silver do percentage wise the last time the DOW hit all-time highs? The problem is that there are many different factors that can affect silver prices, and you can't just look to one factor in order to make a prediction. Especially if you are only pointing to one past example. If you could say something like, "every time the DOW goes up, silver prices fall," I'd think you might be onto something. But the fact is that sometimes PM prices follow the DOW and sometimes they do the opposite. Just because they did one thing the "last" time the DOW hit all-time highs doesn't mean squat unless you can say they do the same thing every time the DOW hits a new all-time high (or at least most of the time). |
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Pillar of the Community
United States
3789 Posts |
silver and gold are in a clear downtrend.
don't kid yourself, anyone who cant see whats happening is clearly hoping for too much and will, sadly, see a drop in value of their silver and gold purchases.
those who say one cant predict the direction of prices are clearly in denial.
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Valued Member
United States
223 Posts |
I'm just pointing out a historical data point that may or may not be relevent in the present. When we last hit an all-time high on the dow, it only held for one or two days and then a huge freefall began. It was after this that a strong bull run began in silver/gold. No idea if it will happen again. I am just enjoying the buying opportunities at under $30. A few months ago I thought the days of buying under $30 were in the rearview mirror. The other night my LCS put two different 2006 ASE sets in front of me but I am off of numismatics while we are sub $30. If we get back around $35 those ASEs might find a place in my collection. I am a holder for the next 20-30 years. If I pay a buck or two more now per oz than if I wait, it will mean nothing to me in the future. If I were flipping silver, I would be inclined to wait and see if silver trends further down. |
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New Member
United States
6 Posts |
The Silver prices we are seeing now are similar to the price in August 2012. That said it is a great time to buy. That doesn't mean you are going to cash in quick and you should not expect to. Imagine trying to generate any savings interest if you put money in the bank today and only intend it to be there 30 days. You dont stand to see much if anything from your investment nor should you.
Now buy Silver today at @28.50spot and wait until we see 34+spot again when the global economies(and subsequent demand) go back up and less hedge fund liquidation caused by an overly eager stock market and futures manipulation stop. Now you have a potential to see greater than 10% return. This isn't for the weak and timid. Fortune favors the bold and that couldn't be more true in the precious metals game.
We also have been seeing too much of the desparaging relationship in the Gold/Silver ratio. It isn't as it appears. Gold is a vanity commodity with no viable industrial application, unlike Silver.
Silver continues to be under valued, Similar to other subsidized commodities, who's price is manipulated.
Buy Low Sell High and keep stackin
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Valued Member
United States
380 Posts |
Most of the people here keep the majority of their PM's. So a couple dollars lower means nothing but another chance to buy more at less and add to the stack. Stackers will be the winners when the fat cats can't manipulate anymore because their overselling has caught up to them. I will buy at 26, 28, 30, 32, 34, 36, and so on, I don't give a crap about trends.
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Pillar of the Community
United States
4008 Posts |
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but we all remember where that got the Hunt brothers We do, Barry, but we also know that the Hunts were *outsiders* while all the gold and silver manipulators are *insiders*. There is a HUGE difference between these two classes. For one, the US Gov protects the insiders and criminalizes the outsiders. As to silver and gold prices? I care not. I just continue to buy what I can on a routine basis and don't worry about the volatility. Sometimes I get a little more for my money and sometimes a little less. This is far less important to me than the fact that I do get it. Ounces matter more to be than a couple of percent in fat prices. I have long since quit worrying about buying in at the bottom or selling out at the top. It's not going to happen. What IS happening, however, is my stack is growing nicely over time and every dollar converted to PMs is now pretty much immune to inflation. The only way to win the inflation game is not to play it.  |
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Pillar of the Community
United States
3670 Posts |
Silver is good for you Barry and Ed as you both can afford to sit on it til the cows come home.... Me different story always sitting in the short and pmz in the short is a recipe for failure.... I often wonder why some ebay vendors sit on something forever and never move it. I sent a guy an email about 20 1:24 die cast Tony Stewart cars he had been wanting 350 for and I first noticed his auction over a YEAR ago. I said how bout sell the lot to me for 200 (10 each) and let me sell these at 25 to 30 each. Not gonna get rich after fees but I sell these like hotcakes should be no problem, move some product. I will pass he replies.... Fine let them set I say forever, since they been up for sell since before Noah even scratched out a drawing of the Ark in the sand with a stick. Fact is some folk just don't need the money and could care less if it sells. If they can't get what they what, they let it set glady.... The key is to go solo. Whats that mean? Avoid lot sells as EVERYONE under GOD's green Earth looks for deals in lots.... For three years I tried to sell BIGS and LOTS and I did as I have often stated here huge silver lots to many. Problem, it cost a ton to make a little or even break even or lose money when you still gotta sell when spot falls.... EVERYBODY can afford 25 to 35 bucks for a SMALL buy be it 1 oz of junk silver or a 1:24 die-cast race car or whatever before a 10 oz silver bar for example, something many must adjust and move things, save and plan to acquire. So my point there is a formula for smalls for sale always bought in LARGE lots for WAY less price then you could EVER find pms in wins out in long run.... I am running close to 200 auctions now and I sell 4 per day on average. Way more then I ever did that with bigs. Probably could do this in pms as well if I stick with Morgans or Eagles simply sold solo. Or like junk silver lots like my good buddy TBK sells.... No better time to buy in then now as 28 seems to be the bottom. even though 25 would trigger a buy in me I figure.... Edited by Silverhawk74
03/08/2013 02:38 am
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Valued Member
United States
380 Posts |
Look at the huge dump and buy that happened this morning. Someone just made allot of money.
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Pillar of the Community
United States
5850 Posts |
Oh, yeah. I was thinking another buying opportunity was coming up after watching it drop sharply this morning. But then, just about exactly at 10:00 EST, the prices zoomed back up above $29...
Ah well!
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Valued Member
United States
380 Posts |
Whoever is carrying the weight dumped it again. It looks like they're dumping mostly gold.
Edited by Arcticsparky
03/08/2013 11:09 am
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Replies: 19 / Views: 6,133 |
Posted 03/05/2013 08:33 am
