Silver down again

Silver has gone down almost every day for that last two weeks. Looks like it is time to go buy some junk and bullion coins. Anyone seeing a trend here? All over the news and other resources they are saying a shortage on silver and how everyone is scooping it up, but it continutes to go down regardless.

 

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The only people I see saying there is a shortage of Silver seem to have an agenda.

But hey, if liked it at $33 you should love it at $27

 

If it goes any lower than 30 bucks, ill swipe some ASEs.

 

Going to go by my LCS after work a scoop up some junk.

 

Silver dropped 5 cents its now at 29.96 a troy oz.

 

Gold taking a bit of a dive also, down over $26 to just above $1600. Personally I'm still buying even as it drops, just means I can buy a little more with the same dollar.

 

Yeah, aren't those people going to "back the truck up" at some point? There were the same types of people in the 80's, going to "back the truck up" at $20, then "back it up again" at $15, then again at $10. Funny how I never saw any trucks at the coin stores.

 

Lucky you, but buying gold oz after oz is way out of my budget. I stick to silver.

 

We are back to a more normal correlated return environment. Stock market moves up, precious metal, bonds move down. Money flows out of 'safe' investments as equity returns look better. The next move down in equities will see a bump in metal/bonds.

The question is twofold, do you expect this correlation to hold? I think it will, and I see the 08-10 environment as the outlier. Second question, do you think the stock market will continue up in the long term? If it does, and the correlation holds then I would expect metal to continue to drop.

 

I think the correlation is still tenuous. What is missing is returns from fixed income instruments. Everyone assumes higher inflation would make PM move up, I am not so sure short term. It is my assertion quite a bit of money is in PM due to no fixed income returns currently. If a 10 year bond would safely return 5-6% again, I believe they would REALLY be attractive to a lot of PM holders, and this would at least fairly short term put tremendous pressure on PM prices.

 

Silver's been trending down in a bear for over a year now. $8 per ounce silver here we come.

 

This supposed "correlation" is not true. Anyone remember 2008-9?

 

I'm getting old. I can remember 1988-9, but I can hardly remember 2012.

Now that I think of it, I can remember a little bit. 2008 was before I joined CT and I didn't know Detecto. Those were good times...

 

Disrespectful post, my apologies medoraman.

 

deleted propaganda.

 

You can still buy gold if you can't afford an oz, there are 1 gram peices (about $65, i wouldn't recommend these those unless you find a good deal, usually they are way over spot)

There is also other fractional gold that can be had for better prices than 1/10 oz american gold eagles or 1/4 ozers.

For example this foreign gold is .1106 oz gold content and only $5.50 over spot or so: http://www.goldeneaglecoin.com/item/Austria_1_Ducat_Gold_Coin

Then you've got gold sovereigns as well which are .2354 oz of gold and typically $10-$20 over spot.

 

Exactly, I mentioned this rotation several months ago when there was just a whiff of it. Before that, it was Equities up, PM's up. Now, it seems to really be taking hold as investors seem to be having more faith in stocks and are looking for greater returns.

Will it hold up? Well we still have a ways to go, but the odds are getting better each day.

 

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Great. I need to sell about $5,000 worth of gold and silver for a family friend and was planning to go to the coin shop tomorrow to sell it. I can pretty much only go on Saturday. I'm hoping for a big upturn before the end of the day.

 

Whoops, just realized how that read... I wish I was that lucky too... I was referring to being able to buy silver at the lower prices.