Is It Time For Silver?

Discussion in 'Bullion Investing' started by yakpoo, Jun 21, 2019.

  1. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    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.
     
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  3. EdThelorax

    EdThelorax Well-Known Member

    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.
     
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  4. Bman33

    Bman33 Well-Known Member

    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.
     
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  5. crazyd

    crazyd Well-Known Member

    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.
     
  6. slackaction1

    slackaction1 Supporter! Supporter

    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.....
     
  7. rte

    rte Well-Known Member

    I'm pretty sure I have my weight in silver.
    Most of what I have is more collectable vs generic.
     
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  8. yakpoo

    yakpoo Member

    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!

    [​IMG]
     
    Last edited: Aug 27, 2019
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  9. yakpoo

    yakpoo Member

    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."
     
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  10. rte

    rte Well-Known Member

    I'm sure there are a few pieces in that LOT that would fetch $20+/oz.
     
  11. HaleiwaHI

    HaleiwaHI Active Member

    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.
     
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  12. HaleiwaHI

    HaleiwaHI Active Member

    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?
     
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  13. HaleiwaHI

    HaleiwaHI Active Member


    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!
     
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  14. yakpoo

    yakpoo Member

    Last edited: Aug 27, 2019
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  15. Bman33

    Bman33 Well-Known Member

    Up $.50 today
     
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  16. HaleiwaHI

    HaleiwaHI Active Member

    Silver sellers like this
     
  17. masterswimmer

    masterswimmer A Caretaker, can't take it with me

    I like the direction it's going but it still has a solid $6.50/oz to go before I start to get excited.
     
  18. Heavymetal

    Heavymetal Well-Known Member

    I’ll be selling into a rocket market!
     
  19. crazyd

    crazyd Well-Known Member

    Cheese and Rice !

    I suspect I have the weight of a small turkey in silver :)
     
  20. medoraman

    medoraman Supporter! Supporter

    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.
     
  21. medoraman

    medoraman Supporter! Supporter

    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.
     
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