When will Silver be Cheap again?

Interestingly, I noticed there is a bid on the BD Nucleo Exchange for 25,000 ASEs at $34.20. (they are looking to buy) Equivalent to 500 monster boxes. This is quite a bit of silver for such a medium as my quick math says this about .9 tons of silver. They could buy 5 large silver contracts on the CME and save about $30,000 so and not have such large handling costs. It makes one wonder what is going on.

$34.20 is about $2 less than the going ask price.

 

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I agree. Somewhat equivalent to on farm grain storage when computing grain inventory.

 

Just wondering why thatCoinGuy isn't participating in this thread?

 

I live in Southern Indiana and I get bread for 99 cents, sometimes can get it at 89 cents as well. I could not imagine paying close to $4 for bread!

 

It's pretty simple to me. Somebody is willing to pay a 3.5% premium to ensure they get their metal. It's not really that much to pay considering that with the SLV they could very well end up having no silver at all. That's what happened with MF Global. A lot of companies have stopped using the CME exchanges this year because their funds aren't insured on the futures market. Plus they are getting a better deal on ASE's than you can find just about anywhere, and could turn it around for a $50,000 profit without spot moving at all, given finding enough buyers.

 

NOS?... NOS?... Bueller?... Anyone?... Bueller?...

 

Did you ever notice that is the norm when a post gets 4 or 5+ pages long? Newbies will post something they saw somewhere else where a strong discussion takes place, the topic gets way over their head, the post gets highjacket on to another subject or they were trolling. Take your pick.

 

you're probably buying some crappy unhealthy version of "bread".

 

I think its safe to say that silver will Never go below $10.00 in the next 50 years.

 

otoh markets make fools of us all

 

Technology giveth, and technolgy taketh away. 50 years from now, there may not be a need for silver any longer.

 

To me, this would make sense. Gold sits and does nothing. Silver is a useable metal, and to my understanding, that is the reason it is a Precious Metal. In my opinion, all precious metals but gold get used. Therefor, one day gold will be in large heaps and silver will be in electronics and high demand. So maybe you can say different, but it seems that the only reason gold has value is because it is not common. But wait... can you not find gold at most coin shops? And since it does not get used, does the market amount get larger yearly, making it sensible to drop in price. I guess that the only reason it has value is because it is just assumed to be because of small amounts and inability to access it long ago, thus making it have the effect that is must be great. A long long long long time ago(forgot the time, actually heard it on history's special "The Epic History Of Everyday Things") salt used to be fair trade for gold in the same weight(correct me if I heard it wrong). That is because it was liked and a luxury, and associated with value because rich people or kings were mostly the ones who could use it. It was hard to extract then, but not now. Is gold not the same? Perhaps the only reason that gold holds value is because of it's history, making every child want to have bars of gold, or a castle of gold, or anything else for that matter, made of gold. Also, the way things moved in this thread (up to page six, at least, as far as I have read) indicate to me that in order to find how the price of silver, or how things like the fiat money system work, which are somehow intertwined in this thread, is to take an infinite number if things and arguments into account, and as stated, nothing in this world can be accounted to infinity. However, I guess this is all just IMO(If that means as I take it to, In My Opinion):dead-horse:

 

^ Gold, Platinum and other rare metals could be used in many products but we had find to alternative products because they are too expensive due to their rarity. Where as silver can easily be minted as by product of base metals keeping production costs fairly low $6-7/oz vs over $400/oz for Gold.

 

Don't tell me... gold. That is likely true(did not check), but what about the silver that goes into the electronics.(plus, it's gold, so it is assumed to hold value, so it might be replaced soon.)

 

Off topic but Gold can reflect radiation and since it doesn't oxidize would be needed for a lot of components in any long duration space travel mission. Anyway you are missing the point if PM is consumed for industrial usage it makes its price voilate and a bad safe haven (Government intervention like subsidy or price fixing to keep spot prices low to help a specific industry). That is why many Silver bugs are hoping that Silver consumption for investment actually surpasses industrial use.

 

Thank you for your opinion. Should we take the time to engage you in any further conversation or have you decided this is all you will ever believe?

 

Well it dropped to 15.00 an ounce.

Did you buy mass quantities of it?

It is now much closer than 2.98 than it was before.

How much lower do you think that it will go?

 

It is close now.

It was 30.00 when I posted this a couple years ago.

 

Oh, this thread. I remember this thread.

Aw, man, if only you'd called "between $15 and $20 an ounce, probably closer to 15"...

(And I did sell before then. Wish I'd sold more. And not bought so much more.)

 

Funny to read this thread now.

And I recall more than a few threads in which people on this forum were haranguing me and calling me crazy for selling silver when it was above $40/oz and gold when it was approaching $1700/oz. LOL

I said it then, and I'll say it again. The best advice is not to follow the herd. Look at all the threads right now with people saying silver will never be valuable again.

To me, that right there is the best indicator that now is a great time to load up on it. Buy low. Sell high.