How low will it go?

[Wilmingtonsilver]

The price of silver is looking to head below $30 again today. A $4 drop since last week. What do you think the bottom out will be this time around? It will certainly pay off to buy ASEs at the low point.

 

[$nack-Money]

$19 dollar silver coming soon

 

[Kaynos]

$19 dollar silver coming soon

Highly doubt it, altough i wasnt expecting for silver to go under 30$... anyhow, time to buy, that's what i just did.

 

[CC-Hunter]

Doesn't matter much for the halves I paid 50 cents for, but some recent "smart" buys of 90% Ag coins a little below spot aren't looking so smart right now.

 

[jkng]

If my dad bought silver when he was my age the we would have been RICH!

 

[AdDicted2Ag]

I highly doubt it will go to 19$ but I could see it dropping to $25... I bought a boatload over the summer when it hit 26$

 

[hokiemojo]

I'm just curious what is driving it. shouldn't fiscal cliff worries push the price up?

 

[Numismaniac]

The fiscal cliff is what's driving metals down I think. Either there will be a deficit reduction deal or the cliff will force it. Either should shore up the dollar some.

Just my two cents. I do think we are headed toward a good buy point.

 

[FormerTeller]

I bought SLV today with excess cash I had sitting in my Roth stock trading account, and hope to stock up on ASE's today or tomorrow. A jump back up just to $33 would be a 10% gain, easily doable in a short time period.

 

[lost]

I'm going with down to $26 where it will hold or a while. From there, up or down, have no idea. Just a gut feeling plus reading the guys on Kitco, and other such sites.

 

[Diggin-N-Dumps]

As bad as it sounds..I would love to see 19 dollar silver, I have no plans on selling my stock off anytime soon...i started buying when it was 12/oz..and within a year it was 30..many regrets of not taking avantage of that

 

[TheMcs]

LCS/PM dealer said it's somewhat typical for end of year, people cashing out. Don't know how true, but it makes sense to me. He'd pulled most of the gold from his case last time I was in.

 

[RobbyD49]

I had a little discussion with the old guys at the coin shop today. They believe the price is going down because people are selling assets to avoid future taxes. That and a buck 50 buys you coffee. I don't plan to sell, but I'd love to see it hit $20-$25. Good luck getting anywhere to sell you junk for those prices. I don't blame them either. Some of these shops might be taking a huge hit coming up.

 

[Marchas45]

Folks the Big Banks are Selling Their Shorts and Buying Longs Which Is Very Positive For The PM's. If you have some spare Fiat then this is the time to BUY. Keep Stacking.

And I Did, I travelled 1 hour one way to my LCD Lol and bought $80 face 90% at $30 spot so I'm pretty happy. I bought all they had.

 

[mlayers]

I still getting it for 23X face so I still trying to get all I can

 

[Kaynos]

Folks the Big Banks are Selling Their Shorts and Buying Longs Which Is Very Positive For The PM's. If you have some spare Fiat then this is the time to BUY. Keep Stacking.

And I Did, I travelled 1 hour one way to my LCD Lol and bought $80 face 90% at $30 spot so I'm pretty happy. I bought all they had.

View attachment 715147

Nice haul

 

[jim4silver]

I really think the MF'ers (Money Folks ) who are manipulating silver will push it down to the 26 to 28 level during this correction. My calls for silver to be 50 by the end of the year were clearly wrong, so maybe I will be wrong on this call as well. We have seen them push it down to that level a few times in the past year. They are probably wanting to get out of some of their short positions, and to do that they will want to make as much $$$$ as they can. Lots of support in that area 26 to 28. If they push it below that, I feel we would see lots of buys of physical from the large foreign buyers like we have seen from time to time. So even if by some evil miracle they can get the price to say 23, I doubt the local coin stores would have much to sell at that price without adding sizable premiums.

I have spoken to my coin dealer acquaintances this week and they are seeing much more buying than selling of silver. They have even increased how much they pay for silver from sellers because of increasing demand and prices in the wholesale markets.

My logic in trying to gauge where they will push silver next has been off for some time. I am going to play this decline like a bear instead of my usual bullish stance of silver. If they do push it again to the mid 20s, I plan to add as many ozs of silver that I can buy.


Jim

 

[Bigheed]

I missed the last window at 27, not gonna miss it this time!

 

[Marchas45]

I missed the last window at 27, not gonna miss it this time!

Good call Bigheed (You must me Scottish) Lol There's a great article that just came out about the Chinese holding all the shorts and the Derivatives Crash is around the corner, check it out.
Harvey Organ: China is the Short Behind Gold & Silver Manipulation | SilverDoctors.com

 

[Bigheed]

Thats a scary article. I better stop by the LCS (its more of a pawn shop with one of the vendors doing some coins in addition to his other stuff) today and see what he has. Last time he had a pretty decent spread 100+ eagles, 100+ peace dollars, bunch of 90%, bunch of Libertad 1 oz and he had some interesting mexican coins from the olympics in 1968 that are .720 fine...wonder what he wants for those....guess I'll find out!