< $15 Silver: Is this something worth waiting on?

Are you responding to FryDaddyJr or SunriseCoins? It sounds like the former, but if I understand you both correctly, you completely agree with him. As for the latter -- well, FryDaddyJr (in responding to SunriseCoins) certainly took the words right out of my mouth.

 

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Oops. My error. I had done an "ignore" on Sunrise weeks ago. Never saw his post. All I saw was the response without Sunrise's post, which then looked like it was directed to me. Again, my apologies. But I do find life without Sunrise's garbage worth the occasional screw-up.

 

Thought it might be something like that. We'll let you know if you miss anything important.

 

I enjoy banter like this. Roll the dice, check the stars, it's all in the cards. Nothing but pure speculation on what will happen.

 

Note to self: keep an eye out for missing post numbers.

 

The same is true of all things in the future, including wallstreet.

 

Or Silver

 

Dollar Cost Averaging Ag at $15.-16./Ozt is prudent.

Under $15 when? If we experience another deflationary burp - say, the Chinese stock market melts down - the lowest I'd guess silver goes, between now and 2017, is ~$13. As others have already pointed out, the retail premiums will rise too.

 

Yeah, I remember when these same stacker types were saying $3 or 4 gas was here too stay. We have dipped under $3 and even $2 many times.

 

It's been in the hi-$3 range here.. not surprised though. In the future I think it will trend higher (higher costs to find & drill for oil).

 

A good question to ask. What will the price do if Greece defaults ?

 

From 8 Dec 2009 to 13 June 2011, choice dates for the LAST Greek default scenario, Silver went from USD 17.50 to 35.75 (call it "doubled.") I didn't seriously think the Grexit would occur then, and I'm not guessing odds now; what magnitude greater to assume for an actual future default I also can't fathom.

(fwiw the Euro lost only ~-2.50% of its value in that specific date range. Dire loss, not really. But possible evidence of PMs as a safe haven in the hypothetical imagined, YES.)

IMO Silver really isn't currently pricing in a Greek default risk, unless you're arguing Ag is vastly overvalued now.

 

Do you think that silver doubling had much to do with the situation in Greece during those years??? IMO, it was caused by the US economy being in shambles and the equity market in ruins. Much different than it is today.

 

We had $5 a gallon here in 2008.

 

The European markets as well as the New York are concerned, because they must make some sort of payment on their debt within the next week or so. It could get interesting.

 

Interesting yes, but a major economic driver, NO. It will be but a small blip, and certainly nothing that will send metals soaring

 

I buy silver because for mr it is a hedge against my other investments, I like it and wanted a physical investment. The issue is have is storage. When prices are below $17 I purchase and every now and then I sell some and buy gold. As stated above simp,y due to space.

 

Should be interesting to see if the Greek banks closing will have any affect on PMs today

 

I'm not implying 'Greece was the reason' just looking at recent history, per the previous poster's comment.

I don't see Greece & Silver today as any high drama, though 2011-15 has been a 'Greek tragedy' for some naive bullionists on this site. Only time will tell WHAT happens for Euro-holders longer term, IDK.

Silver priced in Euros chart, fwiw: up ~11% since early November 2014. OTOH, Silver in Euros is down ~-2% since June 4, 2015.
https://www.goldbroker.com/charts/silver-price/eur

I suppose some desperate Greeks might be buying PMs now; higher premiums in the coin shops, didn't that happen in Cyprus a few years back? Localized bubbles, fwiw, not usually good time to buy!

I agree with others: Greek events probably won't drive Ag/PMs higher in the short term for the rest of us (USD$)

 

Anyone can use a small section of history in an attempt to prove a point. If you look at the larger picture prior to the chart showing the last 5 years - you will see a different story.

There's always a time and place for good investments in a variety of vehicles. It's always good to diversify.

For the last 6 months I've been moving 10% out of my wife's 401k stock funds and into "stable value / bond mix" each time the Dow hit over 18,100. All gains solidly booked and saved off. Now we're sitting with 70% that lost "almost nothing" as everyone else took a 2-3% correction this month. And there's more to come in my opinion. A 10% correction is well overdue and politics ought to be a good catalyst this summer.

Election year turmoil is about to hit, along with all of the other gloom and doom. Everyone's on the stock bus - time to get off in my opinion.