PM on rise overseas tonight with Ukraine/Russian situation

PM, Oil, corn, etc. on rise in Asia tonight.

 

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It will be interesting to see what the commodities do in the next couple of weeks. I can`t see the situation in the Ukraine getting resolved anytime soon. I think this is just the beginning of a storm that`s brewing over there.

 

lets see what happens during the morning when the US markets open up. I hope we see a run up!

 

I am looking for silver to start shooting up as it tends to be more volatile. Gold at $1400 within a week?

 

Ah I see we have possible traders in here. Speculating peeps.

 

I like that.

Um, sell premiums are also up but buy premiums are not. That's an extra 5% (or so) increase in cost we are facing when buying.

 

Anyone wanna buy my corn?

 

I find it strange everyone here is always hoping for a rise in pm's for a quick sale, but nobody ever hopes for a drop so they can buy. Guess they have piles and piles of pm's just waiting to be sold and don't desire to buy any more. Seems a poor investment strategy to me.

 

Not me, I love it when it drops, was excited to see it drop below $20/oz

 

It seems to be up and down today. Right now around 21.40, but it's been up to near $21.70 and down to around $21.30 today. It's certainly not shooting straight up, but if it closes higher it may keep going tomorrow.

 

Geeze, what’s up? You can’t even count on a good ol war to give pm’s a boost.

 

What a horrible comment. I don't care if you were joking or not.

 

Me too... I bought as much as I could afford when it was under $20

 

Something happened today at around noon to cause it to go way up.

 

Yeah, it tends to do that when I'm interested in buying some coins.

 

I was too, if only premiums had a chance to settle down before it went back up over $20.

 

I'm also hoping for sub-$20 ounces for a while so I can grab more. I feel bad for miners at under $20 though as they may be loosing money. Silver seems like a real steal at $18-$23. Global unrest or not, it's just a matter of time until it's back in the $30 range.

 

Meh. If they're losing money, they'll stop mining and supply will fall. Our loss just as much as theirs.

Most silver comes from copper mines as a bonus, but there are silver mines out there that could still turn a profit at $10/oz, and there are some (probably not active) that couldn't realize a profit if silver was at $30/oz.

The way I look at it is simple; If it was possible to earn a profit when silver was at $5/oz in 2003, then it's possible for some mines to still earn a profit even if silver dropped to $10-15/oz today.

 

Hmmm. It seems SLV would have fit your needs perfectly here. You could have locked in the price at 19 buying shares of SLV and held them for a short term basis. Then you just sit back and wait until premiums are low for physical, no matter what the price. If the low premiums don't happen until $25, so be it you are locked in a $19. Just sell at $25 and convert to physical when the premiums are favorable.


Mike

 

Nope, because it is not my intent to play the silver market for a quick flip. I buy it because I like it and because it serves as an insurance policy of sorts. I simply wanted to buy more physical bullion at the lowest price possible.

I do flip silver though, and the way I do it, cannot be done with SLV. It can only be done with physical bullion in hand. There are people who don't like ordering bullion online. They either do not trust Internet merchants, or they believe the government is tracking their purchases. I've sold rolls of ASE to these guys at a slightly lower premium than the coin stores, but enough that I can immediately order 21 ASE for every roll that I sell. I have even ordered replacement bullion during the transaction, thus ensuring that I would not lose any money.

It's getting a little bit more difficult to beat the coin stores right now though, because their premiums are starting settle down a little bit. When silver went down dramatically a little while back, their premiums were $6-7 per ASE. I was loving that! I was getting 22 ASE for every roll I sold.