never seen silver drop so fast $25.85

I WANT prices to fall so I can buy more. I don't understand some people.

 

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I was thinking the same thing but then I checked my bank account and it is a no go

 

silver wil reach $20 as people franticly sell their silver, then sky rocket as people start buying a lot.

 

I have a great guage to judge when PMs peak. That's when everyone is going nuts to get into them. Like real estate in 2006 and nasdaq in 1998. The longer the bull market the more extreme the high price will be IMO. That's when we might also see ridiculous prices for collectible gold and silver. I hope the next few years are bearish for PMs so i can load up on them and rare coins. I won't be surprised if junk silver sells for 200 times face at some point in the next 10 years and some silver miner gets bigger than apple.

 

Really? You can't even comprehend why anyone here might want higher PM prices? You can't think of any reason at all?

 

Oh well.Just made 2 large purchases of some Pandas and some Maples.If prices go up they go up.If they go down they go down.C'est la vie.PM's,Stocks and Bonds,Real Estate and most other investments don't always react to the economy the way you expect so like most other things in life its a crap shoot.All it would take is one bit of unpredictable news and the market could shoot up or hit the floor.I'm not in it for the short game so I'll continue to purchase and let it play out however it does.

 

I think this is a very good time to buy physical silver if you can find it near spot. The POS is moving closer and closer to production costs and will likely see major resistance as it nears $24. If it goes below $24, expect supply to significantly diminish. Good luck finding it at that price. Those who purchased silver at $30+ per ounce are not going to sell it to you at $20-24 per ounce unless they are desperate or foolish. TC

 

I haven't seen a roll of ASE's go for $600 in a coon's age. I'm a buyer all day long.

 

Except that most silver production is actually a byproduct of copper mining. In order to increase silver production by 50% copper production would also increase by 50% and that huge glut of copper on the market would cause it's price to fall wiping out any increase in revenue from the silver. It is the copper that the mining companies make their profit on, the silver produced is just extra income

 

Yes, but this cuts both ways. It limits to an extent the economic incentive to produce more, but also limits the economic disincentive of low prices. As long as copper or lead/tin holds their value, millions of ounces of silver will come to market regardless of market prices. This is why short term at least low silver would not shut off silver production.

 

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Wouldn't surprise me if the bloodletting continues this week. The herd mentality could set in.

Talk to folks who were around the last time PMs tanked in the late 1980's. They'll tell you once that curve goes close to vertical on the down-side, it gets really hard to unload physical. Dealers are afraid to buy because they could lose their shirts in the short term.

Again, if you're a long term buyer, this kind of situation could present some great opportunities.

 

Early 80's mainly. I think this is a large reason some are "out" of silver. Big wholesalers hedge, but many others may not. They are afraid to buy at $25 if they may not be able to sell until the market falls to $15. Hence, they will be out of product.

In the 80's i saw people getting offers for $10 on morgans when the market was still nearly $20 an ounce and real dealers, not gold buyer ripoffs. This is another reason why pm is only a long hold investment, its not like stocks where you can click a button and get 99.99 percent of full value.

I hear people saying physical is short. I would love to hear buy prices. That will say something. If buy prices are traditional or lower, this proves its only a function of price. If its historically high, that may mean its somewhat short, which is also to be expected at least short term.

 

no. why would they want to go to the bother of selling their silver? it's a hedge against really bad things and i don't want that stuff to happen

 

Which was the exact point I was making. It it were to become profitable for silver mining to become more than a by-product of other mining, it would signal a justification in upward pricing. But since that isn't the case, we are where we are with it.
Guy

 

The gold and silver markets have been poised for a correction for some time...they've just been looking for a reason. As gold (GLD) and silver (SLV) Exchange Traded Funds (ETFs) have grown in popularity, so has ownership (demand).

Selling pressure has been building for some time as investors look to re-balance portfolios...but (until now) there haven't been reasonable alternatives. As the economy stabilizes and interest rates begin to rise, investors now have alternatives.

The very ETF funds that helped drive PM prices to new highs are now the vehicles fueling the downward spiral...as investors redeem shares, the ETFs have to sell PM holdings...fueling further redemptions.

This was due to happen...and it would begin as soon as Government got serious about the budget. Two (2) months ago, I began a thread called "Brace Yourself" as key technical supports were breached. I still believe gold will drop to around $1325/Oz by the end of the year and could drop as low as $900/Oz before stabilizing...(everything else being equal).

All the people that bought First Spouse coins over the past couple of years will be handsomely rewarded! (imho)

 

In the past, I have often bought high and sold low...

This time, I am really trying to do the opposite!!!

 

what if the fold goes down and the series does not pick up. The fs coins will be cold turkey for years to come kind of like the pan pac but when it takes off then it takes off. just my 2 cents. hopefully ill be a buyer when you are a seller

 

I lived thru that PM crash, but it actually happened early in 1980. Like any crash, or bear market, it was awful for people who had a large portion of their net worth in PMs. If you bought near the top, when gold was $700--$800-ish, & silver $25, it took almost 3 decades just to "get back to even". And yes, gold is $1500-ish now, so you would have doubled your money in a mere 33 years.

I do realize that none of that seems to be relevant to the people who believe that the USD is going to be worthless very soon, or who are preparing for other types of Armageddon scenerios. That's what we thought back in the late '70's, too.....rush to convert your $$ to PM, at almost any price, before hyperinflation set in, was the mindset near the top back then.

Another issue is, we all pay for things in paper currency. To me, paper $$ don't seem....."imaginary" as someone here said, or worthless, when I'm using those dollars to pay for a house, or car, or groceries.

But yeah, sure, I'd gladly buy more silver at $10-$12......I don't have any issue with owning gold or silver, I just don't want to pay too much, or try to fool myself into thinking that what one pays for PM "doesn't matter" somehow.....

 

so why didn't people just buy a ton more?