Silver getting crushed today

Discussion in 'Bullion Investing' started by Soiled, Apr 1, 2016.

  1. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    The platinum spike was caused by one or two automotive companies trying to corner the market under the guise of needing predictable supplies for catalytic converters.
     
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  3. Clawcoins

    Clawcoins Well-Known Member

    Interesting 2008 information ==> http://www.platinum.matthey.com/documents/market-review/2008/full-review/english.pdf

    and the respective 2009 oversight afterwards ==> http://www.platinum.matthey.com/documents/market-review/2009/full-review/english.pdf

    interesting quotes
    "Net physical investment demand for platinum grew strongly, from 170,000 oz in 2007 to 425,000 oz in 2008. Purchasing of metal through the Exchange Traded Funds was volatile, with heavy buying in early 2008 and heavy selling later in the year. The fall in the platinum price in the final months of the year was met by very strong buying interest from Japanese investors, which accounted for the year-on-year increase"

    and your horizons expand... didn't know PT was used in Petroleum refining and glass sector (televisions).

    and of course we had the global economic collapse with automotive manufacturing dropping like a rock, and thus PT demand.

    " Disruption to platinum supplies from South Africa combined with a weak US Dollar to drive platinum to a record $2,276 on the 4th of March. The price remained high until the middle of the year when escalating concerns over the global economic situation prompted many funds to liquidate large positions in commodity and equity investments. While fundamentals did play a part in price movements, fund investment activity was more important. The purchasing of metal over recent years had helped drive the price to record levels but much of this metal – in the form of forward purchases, futures positions and physical metal – was sold in the second half of 2008. With several million ounces of long positions having been liquidated, the platinum price crashed to $756 in October before recovering to end the year at $899."

    So interesting information for PT.
    Think I'll look into the reports for 2011 Silver next .. since this is the Silver thread … LOL
     
  4. abuckmaster147

    abuckmaster147 Well-Known Member

    Who would have Thunk It!!!! Now you got me thinking about Plat!
     
  5. Clawcoins

    Clawcoins Well-Known Member

    The silverinstitute.org is the place to read.
    ==> https://www.silverinstitute.org/201...?kui=tyR2WUgU2gNhzWppCTyEnw#_ts=1517948237680

    too much to quote, so i'll post stuff about coins.
    "Coin demand almost halved to 73 Moz in 2017. Much of the weakness was concentrated in the United States where a buoyant stock market and parabolic increases in cryptocurrencies diverted some capital away from physical precious metals. With equity and bonds in “expensive” territory and Bitcoin’s stratospheric increase taking a breather during the beginning of 2018, we expect some investment to flow back into precious metals, benefiting silver bar and coin demand this year."

    and others
    "The silver market balance (total supply less total demand) is expected swing into a slight market deficit again this year with both supply and demand reaching above 1 billion ounces. Silver from above ground stocks will have to be drawn down in order to serve the shortfall. That will be a welcome development as above ground stocks rose 9% last year in the face of weak physical demand from the United States and Asia."

    if the summary above was not detailed enough, this 110 page doc should be more your style ==> https://www.silverinstitute.org/wp-content/uploads/2018/04/2018WorldSilverSurvey.pdf

    and of course, all the previous years.
    https://www.silverinstitute.org/all-world-silver-surveys/
     
  6. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Coming from the Silver Institute, I can immediately discount it as self-aggrandizing marketing hype.
     
  7. Clawcoins

    Clawcoins Well-Known Member

    yeah, but I couldn't find the "anti-silver institute" online with numbers and junk. Plus you don't publish many articles on global market PMs.

    of course all PMs supporters always tout a turnaround of some degree at some point. Just good to see the history, numbers, their thoughts of the history/trends, etc. going back a long time.

    and today PMs are rising with Futures
    [​IMG]
     
  8. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Yeah, with a fresh opportunity to make bad-sounding news with NATO allies and going to Helsinki in a hand basket, metals could be jumpy this week.
     
  9. Clawcoins

    Clawcoins Well-Known Member

    Hey

    upload_2018-7-9_13-11-40.png
    Kinda looks like Silver from 2011?
    upload_2018-7-9_13-15-30.png

    It's actually Movie Pass. that monthly subscription for $9.95 to see all the movies you want. They're burning through cash like no tomorrow. Last fall subscribers Rocketed up though ... but didn't cover their costs per subscribers. I mean really. Who is their internal account and business economist? Musta' forgotten to hire one.

    Of course, the good thing about Silver or any PM
    upload_2018-7-9_13-12-50.png

    is that you physically own it. Or I guess through ETFs, etc you think you own it. LOL even if it does crash.
     
  10. -jeffB

    -jeffB Greshams LEO Supporter

    Yep, I still own a good bit of that silver and gold I bought in 2011-2012. Yay, me, I guess...
     
  11. Clawcoins

    Clawcoins Well-Known Member

    ouch

    I have a bunch of 2011 ASEs .. although I've only bought them within the past year and a half.

    I recall when it ramped up. I had a couple tubes of ASEs I bought years ago. I didn't sell them becz I consider them part of my portfolio for "distributed balance". So if I sold them, I'd have to buy PMs to replace them ... which made no sense. If that happened today though I'd just cash out - which is what I did when those Congratulation ASEs spiked. Nice payday for those.

    I've balanced "financial gains" with "coin collection" in the past year. So if something spikes I'll just cash out and not look back.

    As for investments .. anytime any thing hits 5-7% loss I sell. I've been caught a few times with things bouncing back up (then you're stuck due to the Wash Rule). But many other times, it's limited my losses.
     
  12. medoraman

    medoraman Supporter! Supporter

    Yeah, this is the thing. Most PM believers are PM believers. Most never cash out when it spikes higher. The only thing I did was liquidate some stuff like 40% silver halves and other junk I didn't want anyway.

    I just accumulate. I am not 50 yet, so have still quite a while before I (hopefully) ever have to sell. When I get closer to 65 or 70 I suppose I should look for an exit point.
     
  13. Clawcoins

    Clawcoins Well-Known Member

    Very true .. PM is like a religion for some .. you drink the wine each and every day where it has your PM drunk.

    Are you supposed to sell when you hit 50?
    Oops .... I didn't read that anywhere ?? Guess I'm a few years behind now.
    I'll just sell my PM stash to Kurt for a significant profit. Tell him it's full of Mint Errors ... :)
     
    abuckmaster147 likes this.
  14. Clawcoins

    Clawcoins Well-Known Member

    what did you say Kurt ??
    strap on your seatbelts. ...
    upload_2018-7-10_8-45-23.png

    GOLD
    upload_2018-7-10_8-45-50.png

    PLATINUM
    upload_2018-7-10_8-46-32.png

    @abuckmaster147 @LA_Geezer
     
  15. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    Clawcoins likes this.
  16. V. Kurt Bellman

    V. Kurt Bellman Guardian of The Farce, & Dead-Eye Master

    It's a week where international news will be made. Always ripe for active metals markets.
     
  17. Clawcoins

    Clawcoins Well-Known Member

    Yup, metals are magnetized now !!
     
  18. Clawcoins

    Clawcoins Well-Known Member

    oops
    back down it goes.
    [​IMG]
     
  19. CoinCorgi

    CoinCorgi Derp, derp, derp! Shinny!

    I predicted it would do that.
     
    Clawcoins likes this.
  20. Clawcoins

    Clawcoins Well-Known Member

    you're simply amazing !!
     
  21. CoinCorgi

    CoinCorgi Derp, derp, derp! Shinny!

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