Gold and silver down again...

Because you're in California, need I say more?

 

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Silver is at $14.84 as I post this, July 18.

 

Lets hope gold keeps tumbling for the sake of the 2016 commemorative sets. The cheaper they are when released the better (for me )

 

Because they can.................besides, some oil exec needs a new recreation home in the Hamptons.

Hey, would ya mind passing that lube over this way?

 

Depends a bit on whether it's petroleum-based, I guess.

 

Silver goes down, my hoard goes up. ^_^

And I'm young, I'll give this time. It's a commodity, like anything else. It will rise, but probably not in the near future though.

 

That's one nice thing about being younger in this hobby is that you can afford to sit on something for decades if need be to wait for favorable prices to return. Heck, you could wait for 50 years if you had to, and I can almost guarantee that if you buy silver now that you can sell it at a nice profit sometime between now and 2065!

 

Remember 3 and 4 years ago when all the "experts" were predicting that gold would hit $2000 "by the end of the year"? Fact is that no one knows anything about which way PM prices will go. The price charts seem to show cycles with the current prices at a low, so if you believe in cycles, now is the time to buy.

 

And considering we are talking a 60% drop for silver in only 3 years, that has GOT to be a green light for buying. (70% if you count the 2011 spike... lol)

 

Would certainly love to see sub $10.

I remember rolls of VF/XF walkers at $60 per roll good times & wish I had bought lots more and stock piled em.

I do have one regret not buying ASE @ $16 per.
Had a chance to buy them at that price ( had $3500 in my pocket) then silver went to $49+ three months later).

I'm defiantly hoping it keeps dropping.
Not going to make the same mistake twice.

 

The market is highly volatile and unpredictable. Things can change a lot in a few months. I remember back in 2007 buying silver around the $17 level thinking it was a steal. Here we are, amazingly 8 years later and it's back below $15. (Although good luck finding any physical for spot price) I'm not sure how the "over-all picture" has fixed itself and changed for the better between then and now to warrant these cheap prices but I'll take it.

Maybe they'll stabilize or keep going down but don't be surprised if the rug gets pulled out from under us all when you least expect it. As long as it hovered around the 20s I thought that was our modern day floor. The more it goes down from here the more trucks should be backed up. At this period of time, how much lower can we realistically expect it to go? If it drops to $10, people will be on here calling for $5. Somebody will be waiting for $7. To fall back to that level now seems wildly unrealistic. It doesn't take an expert to figure out that with recent history as a guide, we have to be very near a bottom. It's time to bring the cost average down.
People were gleefully buying it up for $20 to $30+ the past several years. Now's not the time to sell and disappear in disgust. After the FED has printed countless billions in QE stimulus it's hard to believe your dollar is more valuable today than it was in 2007. But, if that's what people believe, I'll run with it.

 

Wouldn't it be funny if the world plunged into a mini ice age instead of the writhing agony of global warming?

Then they would pay people to go screaming down the highway in 426 Roadrunners (free gas vouchers) whilst breathing heavy into cell phones.

 

I believe in the maximum hurt principle...
But in general it's very easy to predict the near future. Bullion banks sell until they trigger the stop loss for the trading bots, then follows a cascade and once the price flattens out they buy back what they sold. Wait for the price to rise, Rinse and repeat = make money...
They can't allow PM to climb since this will torpedo the dollar and they can't push it too far down since this will trigger too large a demand of physical. So, they are happy to let it bob up and down in the $1100-$1200 range.

 

I don't think you should look at just the fact that silver has dropped 70% as a green light for buying. That fact does not make silver cheap. It ONLY shows it was cheaper than before.

We first need to look at the reason how it got to near $50 in the first place. By now I think we can all agree that it was fear. So that fear has been fading for a while and is still fading. So we have to start looking at the pre-fear prices. The problem with that though, if we go back to 2007, (pre-fear) you do not get a good picture since oil was 100+ a barrel and maxed out at around $140. As we know, fuel is a huge component in the production cost of Silver.

To get a better idea of where silver should be, I think we should look at the 2005-2006 time frame. Oil was between $40-$60 a barrel, close to where we are now.

In addition we need to consider supply and demand. Is silver demand soaring???? No, in fact it has been near flat for 10 years. Is the supply shrinking???? No, more mines are being opened and more by-product silver should be produced as demand for copper lead, and zinc continues to grow. It really does not seem supply/demand will drive silver higher.

So, in my opinion, the 2005-2006 frame it quite valid to look at for a comparison. In those years silver spot was between $7 - $11 /Oz, which would strongly indicate that silver is NOT cheap. We could even see cheaper prices if oil continues to fall.

 

So, in my opinion, the 2005-2006 frame it quite valid to look at for a comparison. In those years silver spot was between $7 - $11 /Oz, which would strongly indicate that silver is NOT cheap. We could even see cheaper prices if oil continues to fall.[/QUOTE]

I agree. So many factors are coming in to play to knock silver further down in price.
Strong Dollar, strong stock market and Iranian oil dumping on the world market. $10. or less silver is looking like a real possibility, soon.

However, all bets are off if those crazy Islamic terrorists start some big shooting war between the oil producing nations.

 

Here comes $1,000 gold. Interesting

 

Wouldn't surprise me at this point. Not sure how much I'm ready to buy at that point, but I'm pretty much not in the mood to sell right at the moment.

 

Not likely, and I am going to let you in on a little secret. There is no "THEY". Also, no one is the least bit concerned about Gold torpedoing the Dollar. That is just something the snake oil salesmen tell you.

 

Speaking of snake oil salesmen, Ron Paul has a new infomercial out

Yup, the world's gonna end soon.

 

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