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 Replies: 36 / Views: 5,237 |
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Pillar of the Community
Canada
1161 Posts |
WOW...precious metals took a hit today so far.
Gold: -$8.70
Silver: -$1.98
Platinum: -$12.00
Spot prices April 26, 2011 at 11:41 New York Time
Checked via Silverrecyclers web site.
Moved to Bullion forum - Sap
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Pillar of the Community
1283 Posts |
I guess it can't always go up, but I was liking that $49+ spot on silver the night before last.
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Pillar of the Community
Canada
1554 Posts |
 It will be interesting to see when the Precious Metal Bubble will burst. All good things come to an end sooner or later and remember: "what goes up must come down!" Glenn  Edited by glenzy1
04/26/2011 11:57 am
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Pillar of the Community
 Canada
1161 Posts |
I agree...there is always a summit and then a downward trend on the other side. It will be interesting to see what happens over the next couple of weeks. Now...if we could just get the price of gas to drop as well...life would be great. :)
I'm just happy I do not have enough silver to make a difference either way to me. I believe I have around $5 face is all. Maybe some of the silver coins will start to be more affordable if the down trend continues.
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Pillar of the Community
United States
632 Posts |
Yeah and I bought $100 in 90% silver yesterday right before I read the news of a possible correction. :)
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Pillar of the Community
United States
7193 Posts |
We are still seeing a 30% growth in price over the past two months. One cannot expect constant growth.
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Pillar of the Community
Canada
1161 Posts |
You never know with precious metals. Such a volatile market.
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Pillar of the Community
United States
1150 Posts |
Glenn...
I know a lot of people are falsely calling silver and gold in a bubble. lol 1980 was a bubble. Compare where silver is at today vs '80.
The naysayers will bring silver down a few bucks and give people a break in the rise to buy!
When the US government comes up with a plan to pay down the US debt of UNTOLD TRILLIONS, then I will sell.
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Pillar of the Community
United States
1150 Posts |
Don't worry, Willy. ;)
You will definitely not be sad that you bought at that price. Silver is by nature a volatile investment...not for the faint of heart.
However, just hold on because the fundamentals that have brought it to this price point haven't changed.
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Valued Member
Canada
183 Posts |
You got that right mitchhailey,have lots of junk silver to cash still looking for that magic number.
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Pillar of the Community
Canada
902 Posts |
It will do that, take a dive for a few days or a week, but don't worry than it will climb again.
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Pillar of the Community
United States
632 Posts |
Quote:
Don't worry, Willy. ;)
You will definitely not be sad that you bought at that price. Silver is by nature a volatile investment...not for the faint of heart.
However, just hold on because the fundamentals that have brought it to this price point haven't changed.
Yeah that seems what most people are saying. I just thought it was funny that it worked out that way. I am new to the hobby, and it was my first coin purchase. I didn't purchase any silver coins back when it was real cheap simply because I wasn't in the hobby yet.  |
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Pillar of the Community
Canada
1581 Posts |
I wouldn't say gold's decline is a "hit". It's bouncing along $1500 which is actually bullish. The decline is well under 1%.
Silver was due for a correction. The gold/silver ratio was getting out of whack recently. That isn't to say it won't eventually get back to the traditional old 16:1 but it can't do it too quickly.
Silver is pushing to become money again. And is an affordable choice for citizens of all those emerging economies. And it is a very important industrial metal with hundreds of applications.
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Pillar of the Community
Canada
1733 Posts |
+1 .
I see hybrid silver alloys being extremely important in the replacement of gold metals in semi conductor fabrication and many other applications where this pricey metal is used today. Bound carbon nanotubes plated in silver alloys and so on provide remarkable flexibility and reasonable ease of use in manufacturing as well as mimicking many of the characteristics of the gold plated interconnects used today.
Silver going down right now is totally expected, we all knew there would be resistance to 50 US per ounce. I hope it turns down a little more but there seems to be resistance to that as well.
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New Member
Canada
37 Posts |
Hard to see silver drop too much but don't plan on selling much more as I only paid a average of just over $18 per ounce
for smelting cost
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New Member
Canada
40 Posts |
I hope it contiues to drop a little each day for about 2 weeks I am starting to get too much compition at the auctions and I usually see a noticable drop when the price is going down. :)
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Replies: 36 / Views: 5,237 |
Posted 04/26/2011 11:48 am
