Silver price watch

Discussion in 'Economics & Trade' started by DA60, Aug 19, 2011.

  1. Clint Torres

    Clint Torres New Member

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    Silver is one of the most common bullion metals. you can find them anywere. Best part is it is also used in manufacturing as well as jewlrey. At $40 it is still cheap and has a lot of room to grow. Gold is also common and is getting harder to find because people are hoarding it. Platnum is the most rare investment metal, and IMO is the best one to buy now because gold is so over rated. Platnum is much rarer than gold, and was alwasy three times the price of gold when gold was down.

    Copper believe it or not is a great metal to invest in because it is used in manufacturing, and it is replacing a lot of other more expensive metals in technology and manfacturing as well as industry maufacturing.
     
  2. DA60

    DA60 Banned

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    Congratulations.
     
  3. bacardi

    bacardi New Member

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    I still say my way is better.....there are taxes to pay when you sell and picking the bottom is very hard......I remember in 2008 when it bottomed around 9 dollars, many thought the bottom was 12 dollars it it stayed at the price for over one month! Its OK to sell if you are selling small amounts and getting cash for it, then perhaps you sneak around the taxes, but if you are selling 100 ounces or more then most likely they will pay by check.

    Just buy puts and pocket the money to buy more when it bounces back!
     
  4. bacardi

    bacardi New Member

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    then you don't remember the collapsing silver price in 2008....it was much worse than now!
     
  5. DA60

    DA60 Banned

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    Yup!!!!!!!
     
  6. DA60

    DA60 Banned

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    Earlier today silver was down 11%...now it's practically even...

    ...dang...bloody silver roller coaster.
     
  7. bacardi

    bacardi New Member

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    so long as there is no QE 3 then a collapse is still very possible
     
  8. DA60

    DA60 Banned

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    Yup.

    What would you do with your silver/gold then?

    Me - I'd buy a gun and one silver bullet...lol.



    BTW - silver is at $30.68 - up .62 cents (over 2%).
     
  9. DA60

    DA60 Banned

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    I am NOT agreeing or disagreeing with the following...and the source obviously has a bias...but I am just passing it along:

    Silver down 25 percent - time to Buy Buy Buy

    'Silver down in two days , what a great buying opportunity , The run on physical IS already happening , we are in an extremely over sold market , but these are sell off mostly due to the fact that these are highly leveraged markets , the moves in these markets are based on the paper market they are based on the futures and options markets and ETFs they are not really reflective on the fundamentals of the physical gold and silver markets Paper markets are manipulated. $31 silver is a gift(buy now). As the dollar goes higher commodities take a hit. We are in high deflation. Margin calls liquidated positions causing traders to take profits. Traders looked for qe4 and all they got was operation Twist. If Obama wants to attempt to win in 2012 a qe4 to bring the markets back and keep people happy will cause the metals to soar short term(that's when you sell'

    http://www.youtube.com/watch?v=T7VEH4_FvCY&feature=player_embedded#!

    http://silver-shortage.blogspot.com/2011/09/silver-down-25-percent-time-to-buy-buy.html
     
  10. bacardi

    bacardi New Member

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    remember this.....if a collapse happens then yes gold and silver would fall steeply...but the dow would go back to 6900 and BA and citigroup would fail along with several insurance companies and even some pension funds....now tell me.....what do you think Bernacke would do?

    I am sure the B-52 are already prepared to be stuffed with 100 dollar bills for just such an event!
     
  11. DA60

    DA60 Banned

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    Or the nuclear powered helicopters...lol.
     
  12. Clint Torres

    Clint Torres New Member

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    Of all the precisous metal investments, silver has the most room to grow, and once gold and platnum are overpriced, investors will be buying silver. In fact you can get near market price for silver but not gold when you sell bullion. Metal buyers are hopping on the silver band wagon keeping a good stash on hand for when silver price soars up.
     
  13. TopCat

    TopCat New Member

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    The bottom was $26. We are $32.70 now (all in the space of 24 hours). The question is whether to add a bit to the stack now or hope that the bottom will be re-tested as some people think it will be. Any ideas?
     
  14. bacardi

    bacardi New Member

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    remember also to those that sold or wanted to sell at 40. When you sell at coin dealers you never get the exact spot price nor do you buy at spot.....anybody that thinks they could of waltzed into a coin shop yesturday and buy silver at 27 dollars is dreaming. Anyways as of today its already at 32.50 so even if you ran now to a coin shop the best price you could get is maybe 34 dollars....so selling at 40 and buying back at 34......do you really think it was worth all the effort? Then there is tax to pay on the 6 dollars. But then there are the fools that just dont understand the markets that think that yes you will get 40 and buy back at 26 LOL...dream on.....remember that the coin shops are out to make a dollar...they cant match the price dollar for dollar especially when it moves so quickly like that! If it goes to 26 dollars and stays there for a week then thats different, but not when it falls and bounces back the next day!
     
  15. bacardi

    bacardi New Member

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    just buy and hold, its not worth the time and effort as you never get that very low price if you go to a coinh dealer.....perhaps you can if you buy paper silver like SLV but I personally dont trust those!
     
  16. DA60

    DA60 Banned

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    I was thinking EXACTLY that myself.

    I have no idea myself.

    Is this recovery due to the shock of the margin requirements and hedge fund sell-offs wearing off? Or is it because the EU appears to be ready to spend whatever it takes to help their situation?

    My guess is it is the latter and that this euphoria may pass until the EU puts something concrete on the table.

    I dunno.

    I am going to wait until at least tomorrow and see what silver does.

    But...I am NO expert...in the slightest sense of the word.
     
    kuyajack and (deleted member) like this.
  17. bacardi

    bacardi New Member

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    you are just going to get white hairs worrying of what silver does on a day to day basis, best to just buy and hold! Besides when the price drops its rare that a coin shop gives you the exact price to match the price drop as they are out to make money too!
     
  18. DA60

    DA60 Banned

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    Normally I would agree.

    But this is a 35+% drop from the April high.

    I think it's worth considering putting new money into silver right now.

    The question is...where do I get the 'new' money from.


    And I agree with you about the coin shops...their rates are (IMO) TERRIBLE.
     
  19. DA60

    DA60 Banned

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  20. bacardi

    bacardi New Member

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    if prices stabilize at this price I just might buy a kilo bar.....its about 33 ounces so I guess it will be around 1,000 dollars more or less! Mind you I already have 700 ounces LOL
     
  21. DA60

    DA60 Banned

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  22. DA60

    DA60 Banned

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    If silver gets near $25 - and gold is still up around $1500 (right now it's $1608 ); I am almost certainly selling my gold and buying silver.

    $25 would be about 50% of the peak silver price.

    $1500 is only about 79% of gold's peak closing price of $1889.


    I would sell much silver once it got back up around $40 (I think).

    But silver is dropping too fast in relation to gold for me to just sit back and do nothing.


    But...I will see.
     
  23. bacardi

    bacardi New Member

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    well again,, the problem is getting a fair deal on the sale of the gold and also getting a price close to spot for the silver. Also there are tax considerations, unless you sell small amounts so that its a cash deal!
     
  24. DA60

    DA60 Banned

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    Agreed....
     
  25. TopCat

    TopCat New Member

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    Seems to be hovering around $30-$31 at the moment. I'm not sure that the low of $26 is going to be tested again.
     

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