Silver getting crushed today

Just a quick note, from one old guy to another:

For almost any topic, there are going to be other people out there who know more about it than you do. (Nobody can know everything about everything.)

The older you get, the greater the odds that those people will be younger than you are.

Accepting that can be a hard adjustment, but it's worth making.

 

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Don't trust anyone under 50!!!


Oh, and get off my lawn!

 

Make that 60

 

Here's some plucky protein to help scale the dow's wall of worry.

 

Sub-10 anyone?

 

I'm not betting for or against it.

Okay, I guess I'm betting against it, because I'm not dumping all my junk silver at this price. But I'm not backing up the truck, either.

 

Fingers crossed

 

I think it depends on how much influence the commercial bullion traders have on the spot trade board of adjusters. It is going down rather fast, and the economic situations may be unsettled for several months, years ahead. Just everyone's wild guess. Jim

 

So I was thinking of pulling the trigger on some silver but I am still seeing 4+ an ounce over spot for ase's Provident CC . Not trying to get political but if china withholds all earthly metals, Will that include silver and maybe see a increase?

 

No. Silver, gold, etc. precious metals are not Rare earth metals. They do tend to be found together some times, but China produces 80% or so of the worlds supply. The US produces less than Estonia supplies, so the investment in Silver will not be hindered. However, many major alternate energy stocks and investments such as solar and wind will have to export more expensive generators from Europe, Canada, and Mexico, I suspect. IMO Jim

 

I'm not backing up the truck either. It's a weird market right now.

 

Tomorrow may be a very interesting day as Asia seems to be continuing the fall in everything from PM -stocks-treasuries. Be interesting tomorrow to see if continues around to Europe.

 

Au and Ag are up today while the market is tanking. We'll see if this is a trend.

 

Gold considerably more than silver. Guess we can count on an update to the "Playing the GSR" thread shortly.

 

Oh, I know, how about another dow climbs the wall of worry joke?

 

I wouldn’t read much, if anything, into today’s gold “rally.” With stocks down (6 percent for the month), the cash had to go someplace. Obviously, gold took part of the action.

 

Down 551 points, this early? Oh man, fed better get out there and slop the zombies again.

 

There's no reason to panic. People who sell when the market goes down are the people who harm their own financial future and make decisions they regret. You should be in it for the long run, not the short term. One month from now, or maybe 3 months, or maybe even a full year you will look back at August 2019's value of your investments and see how much higher they are today in September 2019/November 2019/August 2020 or whatever.

Secondly, you may look at your pretty stack of gold and see it approaching $1500 per ounce, and you may be tempted to sell it to make a profit of $250 per ounce, or whatever. Let's say you have four ounces of gold that if you sold RIGHT now you profit $1000 bucks. What would you do with that thousand bucks? You certainly wouldn't put it in the market right now due to uncertainly. So what should you do? Answer: nothing. If you need to pay your mortgage and are suffering due to the market being down, sell your gold and take that $1000 profit. But besides that, don't do anything.

 

A very well-reasoned reply. I hope other people read it carefully. There's nothing worse than hype buying (buying when the investment has reached all time highs) followed by panic selling. That's why people mostly lose money on investments. If only they had a long term strategy.