Silver getting crushed today

i bought as much as I could, which wasn't much. but a nice little stack. Though I don't silver stack rounds, I like ASEs and will tend to hold them unless a large upwards price then sell in the secondary market to individuals not dealers.

 

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I have been buying whenever opportunities present themselves. But mostly gold and not silver. There just isn't much floating around at attractive prices in my world right now.

The last few estate sales I've attended, I've picked up lots of gold jewelry at under melt, some way under melt.

Hopefully wife attends coin club this week and picks up on some good deals. I've got priorities (#1 bowling team in our league - halfway through season).

I still can't believe the last auction I attended. They missed MANY pieces that were solid gold. I think I pulled out well over $600 in gold from less than $100 in costume jewelry lots - and even the costume jewelry has some good value (brand names, vintage, etc).

 

Christmas put a kink in what I would have liked to buy but the prices were too low to pass up completely. My goal is 5 oz a month. I bought 20 over the last month. Wish I'd bought more junk at 12.50 per 1.00 but it looks like that ship has sailed.

 

I did some stacking when it was 15.77.

 

since the stock markets inability of breaking 20k they've been writing about how the Trump market push has fizzled as gold and silver have been going up. Gold 5.5% and Silver 7.3% since the year start.
==> http://www.marketwatch.com/story/dont-look-now-gold-is-crushing-the-stock-market-in-2017-2017-01-12

of course, this is just short term and the earning season has yet to adjust any movement. And of course Global market discourse too.


==> https://www.bloomberg.com/view/articles/2016-07-22/donald-trump-loves-gold-and-don-t-you-forget-it

 

There is also some "buying back in" going on after the December swoon due to tax loss harvesting. Never FULLY trust anything you see right around New Year's Day.

 

Time to start selling into the surge, and keeping an eye out for auctions of opportunity.

 

Bump bump bump!

Big bumps this week! WOO HOO!

1220 for Gold and 17.28 for silver right now!

 

Let's see if this momentum continues. I'm left to coin roll hunting for silver because $17 and higher I won't buy at.

 

I bought a tube of ase and 20 1oz rounds. I really wish I could of afforded some more.

 

Those three rolls of 5 oz. ATB coins, for $90 a coin sure look like I made a good buy. My wife and I talked long and hard about buying 150 ounces of silver. Let's hope silver holds strong and doesn't take a dive if the Fed raises the interest rates.

 

I will always hope for low silver and gold prices. sorry charlie

dive, baby. dive

 

If the price of silver keeps going lower, you will never make money on speculating on it. I remember buying silver at $4 an ounce and gold at $350 and people were waiting for it to go lower. I don't know anymore than anyone else, but I think 2017 is going to be a good year for precious metals, especially if the Fed doesn't raise the interest rates.

 

Just when we thought we were getting some traction back down to $16.77. Crazy Train Man!

 

It's the nature of the beast, Bman. The spot price is NOT about what the market thinks it's worth, it's about trying to outguess the other fellow about the rate of change of the rate of change of the value of the commodity. Expect it to make sense and you will drive yourself batty. That's short term. If you can "iron out the wrinkles" in the charts and see longer term trends, you'll see stuff.

 

Right now we are in a solid 30-day uptrend and a solid 180-day downtrend. Something's gotta give.

 

Kurt, you're a good guy to ask this. How do dealers who sell PM's stay on top of this so they are ahead? Do the premiums just keep them afloat? What if they buy a lot and the PM tanks?

 

If gold keeps going down I'll be able to buy my St Gauden & Indian $20 for my collection soon.

 

In the real world of dealers, when the prices go down, they either try to gut out a higher price and not take a loss, or they pull out and don't offer it, and sit on it waiting for a higher price. That's fine if they have the capital to do that, but it has limits.

I know one dealer who refused to bring generic silver to a show a couple of years ago because he was "in it at $35", and he's STILL waiting.

 

or he makes a tv show and points to a piece of paper and tries to sell it for $50 a round.