Silver getting crushed today

Who knows ST, I would like to see that though. I am not in buying mode, most likely to sell some off right now.

 

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Thanks Sakata for the clarification, I had forgotten about the 12 troy ounces = a troy pound. Always have the 16 ounces = 1 pound stuck in my head.

 

Must be because of Ethylene production has been hit hard; yes the gas given off by ripening fruit.

 

So if we add more fruit the price will rise..LOL

 

I understand that I was thinking the same if I sold a pound of silver and got a person saying it was 4 oz short! I myself would buy a pound bar, It could say 12 oz .999 silver 1 troy pound. Or something like that.

 

I think now its price of oil that is giving it the boost. I should have bought 50 barrels last week. Wife says .20 a gallon rise here overnight at her station.

 

Yeah, i was noticing gas increases across the board, Harvey is causing some
main refineries in Houston to close due to massive flooding

 

The refineries take in oil and put out gasoline, ethylene, and the rest. Shut down refineries and the price of gasoline goes up, but the price of oil goes down (because you can't do anything with it).

 

The jobs report wasn't as expected either, and that could be a reason long term. It is getting close to the point where I like to place some straddle calls as I do not expect Bullion to stay at this level for long. IMO.

 

Just sell ounces and leave the word "pound" out of it...a lot easier.

 

Trouble is brewing, PM,S on there way up !

 

I'm now planning on selling some of my ASEs. Not to bullion dealers becz all they will do is give you spot, but to ASEs collectors who pay spot + premium, which varies dependent upon the year to maximize profit.

It's not going to compare to the Congrats fiasco, but hey, I might as well slim up my ASEs stocks.

 

Why would you sell low?

 

Some people emphasize that ASEs (not matter the year) are strictly bullion and are treated as such (specifically by themselves). I don't treat ASEs as bullion and thought I would emphasize that.

 

If you believe that guy in the TV ad who believes silver will be going up to $200/ounce, it is too soon to sell. Heck, I might let mine go when it gets to $75; no need of getting stingy.

 

Last time it went up I sold some for $48. I think this time I may sell some when it gets to $50 (it won't be anytime soon but I am in no rush), enough perhaps to cover my original cost, and then I will let the rest just accumulate for free.

 

I think I might be saving just a few of my ASEs when I do get around to selling them, and just concentrate on maybe one AGE per year so as to do away with carrying all that weight, @sakata .

 

That guys been saying that for years now.
selling a few at a time while it's moving up as long as it's profitable is no problem.

I'm not going to sell my entire stash just a few at a time to move the funds to more profitable investments.

 

I'll be selling a bit of everything and keeping a bit of everything. Diversification is the key as you never know what will be in demand at any point in the future.