falling silver

[silvercop]

according to my tracker that follows silver spot price it is showing silver at 11.93 and falling. what's up with that? anyone else following the price?

 

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[coolpix9]

Sounds like a great time to sell all of your silver before you are completely wiped out.

 

[Rich Hartford]

I've been watching it. I would not sell though. it's never going to fall below the price you paid for it through CRH.

 

[cmhoose]

Sounds like a great time to sell all of your silver before you are completely wiped out.

lol - good idea!

 

[alabamadan]

I'm actually watching and hoping that as people perceive the economy to be improving they'll move out of gold and silver, then I can buy some.

 

[Shake-N-Bake]

The first misstake is you are going by the spot price. Try to go and get one once silver round for $11.98. Its not going to happen. Spot price is for paper silver. You may ask what good is paper silver, good enough to wipe your butt with....

Jason

 

[jim4silver]

Between yesterday and today I added a nice amount of silver one ounce rounds and a few ten ounce bars to the stash. I was able to get nice generics for a buck over spot and the ten ounce Engelhards for $2.25 over (I hate to spend that much over spot but I remember buying a few Engelhard ten ouncers last year at $175 per bar, so this seems like a bargain ).

I plan to keep accumulating when I can at these prices.

Jim

 

[$CUERVOJ]

Yeah, I read an articale in bloomberg about the gold and silver prices. It seems there is no upturn until end of summer. Look for gold to hit at or slightly below $800 an ounce this summer.

“With gold prices continuing to be capped under $915 an ounce, I would look for the market to roll over and play bear,” Ralph Preston, a commodity analyst at Heritage West Futures Inc. in San Diego, said in an e-mail. “A close under $853 an ounce projects another move down towards $800 an ounce.”

India Demand

Still, some analysts say gold may be poised to rebound.

“Any major further correction in gold will see solid buying -- and that if no correction occurs, Indian demand will pick up strongly in August/September,” John Reade, UBS AG’s head metals strategist in London, said today in a report.

India, the world’s biggest buyer of gold, imported 10 metric tons in the first 15 days of April, compared with 24 metric tons in all of April 2008, Reuters reported from Mumbai yesterday, citing Suresh Hundia, head of the Bombay Bullion Association Ltd. India didn’t import any gold last month, compared with 21 tons in March 2008, according to the bullion association, a group of 230 traders.

Investors buy gold and other precious metals as a hedge against accelerating consumer prices and a weakening dollar. Investment demand for precious metals slows when consumer prices fall and the dollar strengthens

 

[Silver Stripe]

Sounds like a great time to sell all of your silver before you are completely wiped out.

Here fishy, fishy. Got a nice juicy worm for ya. Some of us hunt, others fish haha. HH Mark