Wow. PM prices decreasing dramatically.

Remember last week? Silver crashed 4 dollars down to its lowest at like 28.55 an ounce I believe.
Then it recovered to mid 29s, and now its crashing again.
Silver was at low 29s today, and its at 28.55 its crashed 50 cents about in the last hour.
What is your opinion on the topic that Silver and Gold are having quite low prices lately, and are fluctuating alot.
If silver goes down to below 29.30 Ill invest some more.
Any suggestions? Is silver worth investing now, or should I wait. I know nobody can predict the PM prices, but has this happened before and how has it happened? Also I added this forum for discussion on PM. So enjoy.

 

Log in or Sign up to hide this ad.

This is just a dip so far. Wait until it is absolutely unbelievably cheap.

When you feel just terrible and distraught that you bought for $29 and $30/oz. When everyone is bailing. When you can buy a 100oz silver doorstop for a reasonable price. Then start loading up.

 

its jusr waiting for me to buy some, then it will reach new highs. im thinking $50?

 

"crash" is such a harsh word over $.50. We'll all be ok.

 

it's all gravy to me. i got all my silver at $8-9/OZ

 

Silver got below $28 this morning, and now is coming back up a bit. I really don't know what it's going to do, but maybe $28 is the bottom and now it will trend up. I may go buy a few ounces today, if the price is right.

 

They are probably bringing up the prices for the weekend. Don't want to let it lock at 27 for 2 days ketting everyone buy. My bet is it will go back down monday

 

Me personally I think we've seen the highest it will go back when it was close to $50 an oz. That was when not a lot of people were investing in physical gold and silver. So many people made a ton of money off the precious metals market that got in it in the late 80's or early 90's. Me personally I sold out when it was around $36 and with that money turned around and started to collect numismatic pieces. Mainly now I just collect Lincoln cents. Don't get me wrong I still do watch the market just to see what all happens. One always must keep in mind that the precious metals market is a bull market and with so many people trading EFT's and such it is so easy for the big share holders to persuade and influence the price.


Dusty

 

Time to do some serious buying.

 

The coin shop I buy at here was out of Silver Rounds the other day.

 

"Dramatically" is a long ways off, IMO.

In 2012, Silver declined/hung/bounced around a LOW of ~$27 from June 22 - July 25th. Look at a few threads from that period, to see who got panicky.
Real investors and prudent accumulators are NOT sweating the likelihood of POS ~$25. (or POS $22.) in April-July 2013. Still, no big deal.

Hypothetically POS under $20. for a few trading sessions probably warrants careful reassessment/revision of premises and outlook based on whatever circumstances we see and foresee at that "dramatic" junction. Personally, I believe POS $15.-20. would be the sweetest BUYING OPPORTUNITY (since 2010, and for years to come) but many imprudent/inexperienced late-comers here will be selling in despair. Why? Couldn't they figure out how to cautiously short Paper Silver and protect their stash, evident the downside? http://www.cointalk.com/t217748-5/#post1576953

 

Hold on a second... let me consult my "seer":

 

I think it's a buying opportunity, but don't lose faith. The US dollar is down about $3 on the Canadian Dollar, and that means about 3%. 3% of $30 is around a buck, so that explains some of the drop. I think it will rebound, but I could be wrong. Here's what's happening with the US/Euro:
http://www.zerohedge.com/news/2013-03-01/eurusd-cracks-3-month-lows-below-130

 

I bought a bunch today.

 

But you have it backwards. Think about it... if the dollar is worth less, one ounce of silver is worth more in terms of US dollars.

 

If you look at http://www.bankofcanada.ca/rates/exchange/daily-closing-past-five-day/

Ypu willfind that over the last week, the Cad/Usd has been even or a loss on the week, Only 1.0276 to 1.0271 or 0.0005, but it isn't the reason for any change in the price of bullion in CAD.

 

But the USD isn't worth less, it is worth more. Take a good look at the 5 day chart in the Zero-hedge url above. If next week is the same decrease in the Euro and GB pound, expect PM to repeat the same decrease. But as some one said, A stronger USD is what we want right? Not if you are planning on $50 oz. silver anytime soon.

 

Say!! Did I happen to mention that I recently received a certificate in "Fortune Telling"?

Actually, I really can't tell fortunes, but I wanted to be able to go to my Tailor's shop and still say "I'm a Medium".

 

I don't really feel that the dollar index is a true way to measure the buying power of a currency. just because one currency is gaining strength against the others doesn't mean it's gaining buying power, it's just not depreciating as fast as the others.

 

I'm shocked that the price of silver ever falls. They never told me this in the book about buying silver. They have told me that the only reason silver goes down is JP Morgan, HSBC and a couple other bullion banks.

Now back to reality. Silver is going to fluctuate in price based on all kinds of factors, including the most basic, supply and demand. Whatever your reason for buying PM's, sweating every fluctuation is not worth it.