everyones out of SILVER!! or you can just wait around 2 weeks for it

[blai745]

Good thing I live near Gainsville coins. They had sunshine mint rounds for 1.79 over spot at there store, so no need to wait...got the last batch.

plus Since I converted my scrap gold to silver I was able to get even more than a few weeks ago..( ratios) I really think silver already hit rock bottum and Im about 80% sure it wont go any lower than $30.. so are you guys loading up? Or just siting in the side lines, only to later regret it.. been there, done that

[mts]

Well... I'm waiting on the sidelines to see how things shake out. Every time I try to time a bottom I end up getting burnt. I have plenty of silver on hand but would be happy to load up on more if the price is right. The problem is, I'm not sure that the price has bottomed out yet. When I look at the charts I see silver slowly declining since around the $50 mark. It goes sideways for a few weeks or months, takes a big hit, and then doesn't fully recover. The cycle repeats again resulting in a slowly declining price. We are around $31 today. I'm thinking that we could recover to about $35 in the short term. But then I think we could take another big hit when the whole Europe situation shakes out. That could cause another crash taking the price down into the mid $20's or lower. At that point it might recover to $28 or so. All I know is that it sure looks like the silver price curve is heading down into the $20's. But who knows for sure?

So yes, I'm sitting on the sidelines and could miss out. But that's ok. I don't NEED any more silver. I'd sure LIKE to have some more though. But only if the price is decent. If you are bullish long term on silver like I am then now is definitely a reasonable time to buy. I'm just not sure that we have seen the bottom yet though so don't be shocked if the price takes another nose dive.

But like I always say... if you want to make money, do the OPPOSITE of what I do. Works every time!

[iceman0xh]

In my mind the title of this thread says it best, "Everyones out of silver". There is a lot of demand and no supply which in a capitalistic mindset means that the prices should start to rise. I think through the end of the year prices might lower based on holiday spending in economics but I believe next year we are going to see a similar spike especially with the dept ceiling/credit rating going into effect.

[mts]

In my mind the title of this thread says it best, "Everyones out of silver". There is a lot of demand and no supply which in a capitalistic mindset means that the prices should start to rise. I think through the end of the year prices might lower based on holiday spending in economics but I believe next year we are going to see a similar spike especially with the dept ceiling/credit rating going into effect.

Maybe most of the local small stores are out of silver. But the big boys still have plenty. There is plenty sitting around in vaults that will be sold again when the price goes up. There is a difference between not having any real physical silver to sell and not being willing to sell at the current prices. I wonder how many of these shops have temporarily pulled silver off of the shelves to keep from selling at a loss in the hopes that the price will go back up soon?

Also, I think the local shops are seeing high demand, but it could be negligible in the grand scheme of things. I would think that there is so much silver out there that even if every mom and pop shop in the US was completely out, it would only marginally affect the price of silver on the open world market. It would be nice to find a statistic or two that showed how much silver is sold every year by shops vs. how much leaves the market in other forms.

Keep in mind that the demand for industrial silver is falling as well. China is cutting way back on silver as well as copper. Silver is first and foremost an industrial metal. So even if people rush out to buy physical silver bullion as a safe haven investment, that will likely only offset the drop in demand on the industrial side.

At this point it seems to be anybody's guess which way the price will go. Long term, I think it is going up. But we could see some very volatile prices over the next few years. That's just my opinion. And it is an opinion that is based solely on gut feelings and not facts. So take it with a grain of salt.