Silver under $12 in last 24 hrs

Discussion in 'Bullion Investing' started by Dow Jones, Mar 16, 2020.

  1. Dow Jones

    Dow Jones New Member

    I am currently out of the US and was shocked to see silver under $12 in the last 24 hrs. I would of thought it would be moving in the opposite direction.
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  3. goldcollector

    goldcollector Member

    You can't buy any for less than $15.50 though.

    No in a crisis or SHTF silver is gonna be worth close to nothing. Tens of Millions of people have silver in the US alone. In an economic meltdown silver would come pouring out the walls.
    HaleiwaHI likes this.
  4. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    Dow, be very wary of the previous poster. I will simply leave it at that.

    Being a fellow that has played with PM's since the 1990's I can say that frequently, yes you are correct for the most part. Historically PM's tend to move the opposite direction of the major markets. However that is not always the case. Further, there is no precedent that we can compare today's market to really. PM's have their own market influences that are often in conflict with major market drivers.

    From my perspective, those of us that love looking at and stacking the stuff have a prime opportunity on our doorstep. We may never see PM's this cheap again. Then again, they may drop further. Who knows? Just keep your purchases in perspective. PM's are not a prime investment vehicle.
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  5. Oldhoopster

    Oldhoopster It seemed like a good idea at the time.

    Just like the platinum run you predicted less than 4 weeks ago. However, sooner or later you have to guess right, because you've been wrong so many times, the statistics are on your side. Even a blind squirrel occasionally finds a nut

    Just pay back the money that @Garlicus sent you and be quiet
  6. Clawcoins

    Clawcoins Well-Known Member

    This has been a good education in Commerce in relation to Economics.

    When commerce stops, and money stops flowing, it seems people around the globe then revert to the common denominator that is needed when commerce starts again .. and that is Cash.

    plus many that have used PMs as they leveraged stocks have had a calling ...

    I sold most of my equities up to March 4 .. and I'm holding cash right now. Just waiting ... and waiting for @Garlicus to get paid.

    But I may buy Platinum if the premiums go down ...
    and if Gold gets back to $800 ... ouch, as that's when I stopped buying it in earnest when it passed that.
    Randy Abercrombie likes this.
  7. Clawcoins

    Clawcoins Well-Known Member

    My very first full tube of ASEs I paid around $140 for it around 1997-8ish.
    I'm wondering if it's gonna get back that low again ??

    30 days ago I would have laughed at that possibility .. now ... hmmm
    ripple likes this.
  8. Dougmeister

    Dougmeister Well-Known Member

    Not to hijack, but what websites do you all recommend for watching silver & gold prices?

    I'm looking for a simple web page with a configurable graph (1-month, 6-month, 1-year, 5-year, etc.) near the top of the page so I don't have to scroll down.

    Installing a widget or other web browser add-on is not an option.

    Hyperlinking to a GIF/JPG that is updated on a daily/hourly basis would be awesome.

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  9. Clawcoins

    Clawcoins Well-Known Member

    I normally just use and refresh their pages when I want for LIVE prices
    on left is the menu for Platinum, Gold, etc.
    you can have one per browser page.

    you can also watch ETFs, and even ProvidentMetals, et all show on various places on the page the spot price.
    example, provident at the very top, which if you click "Show Charts" you can see basic charts.

    but keep in mind SPOT is not necessarily what you are going to buy things at.
    Premiums are sticky to float down and one has to watch the variance between spot and selling prices .. in normal times.

    for instance just checking a 1oz round, their BuyBack is $12.35 and you can see the sell prices at $16.09+/-, and compare to spot at $12.72
    longarm, UncleScroge, ripple and 2 others like this.
  10. blademan37

    blademan37 New Member

    Yes I was wondering the same thing!
  11. Clawcoins

    Clawcoins Well-Known Member

    Also, if you have a brokerage account you can usually find a page where you can track Sectors, such as Metals in the below example.

    but you'll see a 10 minute delay.
    I've found Kitco with use of the refresh button to still be pretty good.

    If I go into a trading position I can see trade prices occurring and base decisions on that tracking. I just sit on a trade and hit refresh and see the volumes, buy / ask prices, momentum, etc ....
    Last edited: Mar 16, 2020
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  12. -jeffB

    -jeffB Greshams LEO Supporter

    I use most routinely. By default, it comes up with a pair of charts near the top, one for daily gold, one for daily silver. You can configure the currency (USD default), weight (troy oz default), and time period (day, 30 days, 60 days, various other increments up to 30 years and "all data"). You can't switch in other metals, but there are menus that take you to pages for palladium and platinum, ratio charts, and so forth.
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  13. juris klavins

    juris klavins Well-Known Member

    I would suggest silverseek - they're all about silver all the time:
    Click on the home page for the full effect ;)
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  14. HaleiwaHI

    HaleiwaHI Active Member

    I have removed any and all posts I have for selling silver. I'll just go in lockdown until the market returns. I have a fear that silver will end up being below $10 when this is all over.
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  15. -jeffB

    -jeffB Greshams LEO Supporter

    A few days ago I would've said "that would surprise me", but it seems like there's nothing but surprises to be had at this point.
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  16. Santinidollar

    Santinidollar Supporter! Supporter

    Just like Thursday, all asset classes are being liquidated by large traders who totally strung out by record high prices.
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  17. longnine009

    longnine009 Most Exalted Excellency

    Apparently, the sellers I normally buy from did not get the memo. Which is really odd because they always get the memo, rather expeditiously, when spot goes up.
  18. FryDaddyJr

    FryDaddyJr Junior Member

    wow online dealers all sold out
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  19. longshot

    longshot Enthusiast Supporter

    People still paying up in Ebay auctions.
    ripple likes this.
  20. FarmerBill

    FarmerBill Member

    I don't think tracking spot price will do you much good now. All that matters is what someone will sell for. The last couple days on ebay silver eagle rolls are pretty steady at 400-450 a roll.
    ripple likes this.
  21. Tater

    Tater Coin Collector

    Its panic and fear right now. Everyone is cashing out of everything right now. It will be interesting to see what the future brings once the virus has run its course. When to buy is the big question for me right now?
    ripple likes this.
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