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<p>[QUOTE="InfleXion, post: 1216799, member: 29012"]I agree with you in regards to not taking a hardline stance since I recently read that 90% of the silver market is done by day or calendar traders as opposed to those with long positions, and that the total volume of silver traded in a day is more than total physical silver produced in a year; notwithstanding the unknown of future monetary policy changes, though the track record there has been consistent. Anything can happen in such an environment especially considering some entities can accept delivery from themselves. I think demand was psychologically driven up to the $50, but that the huge drop following it was more so the inability to cover margins, and now the bull is in the process of finding its feet again ($34 looked real solid I have to say). Unless silver is in a physical shortage there probably won't be any other catalyst to diverge it from the fiat market, but if that happens I would expect things to really go up. Even if not, it's still not a bad place to be to preserve your wealth, but getting into it with the sole mindset of turning a profit can be dangerous since as I believe you pointed out elsewhere, time may be the most important factor.[/QUOTE]</p><p><br /></p>
[QUOTE="InfleXion, post: 1216799, member: 29012"]I agree with you in regards to not taking a hardline stance since I recently read that 90% of the silver market is done by day or calendar traders as opposed to those with long positions, and that the total volume of silver traded in a day is more than total physical silver produced in a year; notwithstanding the unknown of future monetary policy changes, though the track record there has been consistent. Anything can happen in such an environment especially considering some entities can accept delivery from themselves. I think demand was psychologically driven up to the $50, but that the huge drop following it was more so the inability to cover margins, and now the bull is in the process of finding its feet again ($34 looked real solid I have to say). Unless silver is in a physical shortage there probably won't be any other catalyst to diverge it from the fiat market, but if that happens I would expect things to really go up. Even if not, it's still not a bad place to be to preserve your wealth, but getting into it with the sole mindset of turning a profit can be dangerous since as I believe you pointed out elsewhere, time may be the most important factor.[/QUOTE]
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