Like i said i have allot of Silver, so there,s nothing better then having it Reach a high value, you have to remember there,s millions of tons of Silver still in the ground after all its supply and demand.
Silver will be 25+ by spring. Woldwide mine production is close to a billion ounces per year. that's 17 billion dollars. The US government goes that much further in debt every 3 days. At today's silver price, Apple computers could buy 15 years worth of global production with the cash they have in the bank. The CME handles the same value in gold DAILY as the value of all the silver mined for 2 years. The silver market is tiny compared to modern finance. As the price increases, more and more people will want to buy it. Since there are so few of us that actually hold it, the silver coming to market will not be even close enough to fill demand. Presently there is very little investment demand as can be seen here, one of the few places that one would expect to find a majority buying. Supply and demand shows a continuing yearly deficit even at these low prices. Adjusted for inflation, silver is very close to an all-time low. Buy low, sell high. Right? The 7 largest comex traders are short 350 million ounces. They have to buy that much just to cover the contracts they have already sold. That means there was 350 mil. oz extra "supply" in the past and an extra 350 mil. oz. demand in the future. Do your own due diligence. Don't take anyone on the internet's word for it.
I’m profitable selling silver and gold right now. I just started selling a little here and there. Dollar Cost Averaging on the selling side I like to call it.
I wonder how much silver some members here own where it would make a huge notable difference - even if it jumped 5 bucks an oz.
whoa 26.00 so it could still be bought and make a little.. 17ish.. BUT 26 I could and will come out but I probably wont sell like a fool and hang on to it... it will drop.. and I will have the same silver... why I cant l let it go.....
WHOA! The GSR is heading south again this morning! It blew through support at 86 and is heading towards the next support level at 83. The GSR has dropped 9% from it's July 5th high of almost 94...to 85 so far today. More importantly, had anyone bought silver when this thread began, their investsment would be up almost 17%...WAY more than I expected!
This reminds me of what Groucho Marx said when, after being wiped out in the 1929 crash, was criticized for holding low-yielding bonds years later... "...but Groucho, you can't make any money in bonds." Groucho: "You can if you have enough of 'em."
There was a generation that saw $40 silver sales. But I wouldn't get too despondent about it. Silver has been making a great comeback in the last few weeks and hopefully for those of us who have been stacking silver for over a half century felt a blow when silver plummeted to $14. Let's hope silver values keeps on going up so we can all realize the true value of silver. Of course this comment only applies to silver stackers like me.
The problem is that when silver gets to $25oz, most sellers feel it will then be at $26 and soon $30oz. So why sell before the end is here?
GSR = nothing more than math of what it is. It is not a buying or selling tool. When GSR used to be 50:1 that was the norm. And that wasn't even too long ago. I used to buy gold at $150oz and silver at $3.00oz. It didn't seem like a shocking ratio back then. It was just what it was. But today when gold is at $1540, silver should be at $30.80oz. So do I think there's room for silver growth? you bet I do, but I'm not going to read the headlines and use it as a buying or selling tool. I'm just gonna know that it is what it is!
Here's a curious Silver chart I stumbled across... https://www.silverinstitute.org/silver-market-trends-2019/ Silver Coin Fabrication at the US Mint:
I like the direction it's going but it still has a solid $6.50/oz to go before I start to get excited.
I am confused. How can there be technical resistance relating to a relationship chart between two items unrelated? Is there technical support levels for a ratio between Shanghai tea futures and black truffles? The two things are about as different, with the only real relationship being with oil, (but silver is much more tied to copper demand). Sorry, a GSR has been dead for at least 50 years in the modern world.
People's expectation of price is about a year. 7 years ago people on this Board were screaming when you said silver would go to $20, calling you all kinds of names. Today, $20 is a goal. Almost no one ever catches the bottom or tops of markets, as much as they like to brag that they did on the internet. I bout some silver at $26, and was stupid to not sell the much more I own at $45. One has to ask what is the purpose of their pm purchase and time horizon. I own it as a contra asset, and have 15 years before I will retire. So the price better get really dang high for me to sell.