Silver lowest in a year today

[crhstreetwalker]

$26.83 Thoughts? Think it's going to plummet?

 

[usernameerror]

Buy buy buy!

 

[SilverForBrains]

good thread, I am worried about the price of silver myself. could it have been overvalued this whole time? should I sell my 40%ers while I still can? these are all short term concerns of course. long term fundamentals are apparently strong

Still, as with most trading it's unfortunately not always about the fundamentals. They had people pumped about silver, talking about over $100 an ounce prices all over the internet, and getting people to invest even as prices rose into the forties.

So whats happening now? everyone says long term fundamentals are strong, and short term price drops are just good chances to buy. this may very well be the case. However I am concerned that silver has lost momentum. Think of people in the eighties after the hunt brothers price inflations crashed. Everyone knew silver would still go back up someday, but it took thirty years. If I knew right now it would take thirty years for silver to rise again and until that point it would drop back to $15, I would sell right now. Of course, some may say I am not looking far enough into the future. you have to keep in mind though that money tied up is money that's not working for you.

On a more positive note, just under $27 has been big resistance in the past (or rather before it was just over 27 I think) and it may turn up now. we've been having tons of swings from 27 to 34 or so since silver plummeted. at the bottom of everyone of these swings I get my panties all in a twist. and then it goes up. and then it drops again. Let's just hope it doesn't fall any lower, or we may see another $5-$10 drop. jmho.

HH

 

[baddbluff]

I really would like it to go back to $35 so I can sell. I have a '93s Morgan to buy & a trip to Paris to pay for in March!

 

[namster]

As long as the fed continues to print money PMs are a sound investment, especially when you are paying $1.50-$3/OZ as CRHers do. Hang onto it if you can. If silver breaks below $25 I may break a promise I made to myself and buy some junk silver at spot. Probably dimes and quarters.

What I have read is, if the Greek situation worsens the euro weakens and people bail into USD. PMs drop. If you step away from the painting the overall picture is the world is about to implode financially, maybe tomorrow, maybe in 10 years. I will be holding all the silver I have, and I have been hoarding since the early 1990s.

 

[TimZim]

I buy silver all the time. About every two weeks. If it drops there will be less crh ?? Thats good for some of us!! I think it will go back up soon. Buy low!!

 

[jnb1994]

I buy silver all the time. About every two weeks. If it drops there will be less crh ?? Thats good for some of us!! I think it will go back up soon. Buy low!!

I personally think that even dropping silver prives won't really stop a lot of people from CRHing. CRHers 'pay' like 1.50-3 an ounce when they keep silver coin. As long as silver doesn't drop down near this amount (which I don't see ever happening) there will always be a benefit to hunting.

 

[crhstreetwalker]

I personally think that even dropping silver prives won't really stop a lot of people from CRHing. CRHers 'pay' like 1.50-3 an ounce when they keep silver coin. As long as silver doesn't drop down near this amount (which I don't see ever happening) there will always be a benefit to hunting.

I think it will lessen the drive for people who don't do extreme CRHing like members on here do, as it will become worth less and less of their time if the price continues to fall. I personally hope it goes up instead of down.

 

[namster]

I think it will lessen the drive for people who don't do extreme CRHing like members on here do, as it will become worth less and less of their time if the price continues to fall. I personally hope it goes up instead of down.

It will likely continue down into the low 20s if not lower, in the near term IMO. Focus on OZT not USD.

 

[crhstreetwalker]

It will likely continue down into the low 20s if not lower, in the near term IMO. Focus on OZT not USD.

How do you know this?

 

[ArkieBassMan]

IMO the price of silver will really have to drop for a significant number of CRHers to give it up. It wasn't that long ago we were all ecstatic that silver had jumped all the way up to $17, so I don't think silver in the $20's will discourage too many. It should however, lessen the number of new CRHers. For every $10 increase in the price, I bet the number of new CRHers rises exponentially.

As for the future of silver, its really a crapshoot at this point. There are so many unforeseeable and unpredictable variables that will effect the price, as well as the major manipulation by those that my grandmopther would call "the big shots" that its pretty much anyone's guess at this point. $50/oz. by the end of the year wouldn't shock me. Neither would $15.

 

[The_EE]

As long as the fed continues to print money PMs are a sound investment, especially when you are paying $1.50-$3/OZ as CRHers do. Hang onto it if you can. If silver breaks below $25 I may break a promise I made to myself and buy some junk silver at spot. Probably dimes and quarters.

What I have read is, if the Greek situation worsens the euro weakens and people bail into USD. PMs drop. If you step away from the painting the overall picture is the world is about to implode financially, maybe tomorrow, maybe in 10 years. I will be holding all the silver I have, and I have been hoarding since the early 1990s.

Seems to me that there are a few here that use CRH as a way to get extra money. They are living beyond their means already and the CRH fund is likley helping them live further beyond their means. I am glad I reined in all my bills etc before I started CRH. I had one short moment where I though about selling about $100 worth of silver but instead I wait as I always do until I have cash in hand for something, credit cards are for emergencies only and a new pair of shoes or a TV isnt an emergency.

The dollar collapsing is.

 

[dustywallen]

Me personally I feel as if L O N G term it will all be good. When we embarked on collecting coins and precious metals we had no mind set or heart felt of getting rich over night. The good old days of finding stuff dirt cheap has just about passed away in this generation. These days someone would choose rather to hoard up precious metals versus I good solid investment coin. I feel as if one really has to think about What u are in it for. Don't get me wrong we are all in it for the money but I feel as if from time to time we loose sight of the joy that comes with owning these coins. I have always had a love for the Silver Eagles and have gotten a set over the years and I would be lying if I said it don't cross my mind to sale them and get something else. Then I realize we got them for an investment. We all love new things and when the new wears off we want something else. The best investment I have ever bought would be a safe helps me get stuff out of sight and out of mind. As far as silver price I say buy when it is up and buy when it is down. We all have take a beating before on stuff but I feel as if long term Hey we are good!

 

[BuffaloBoy]

I have a bunch of 40% silver halves I was waiting to sell hoping silver went to $35/oz... I don't see this happening anytime soon... if the silver does not pick up within a month, I am going to sell and buy even lower as I would expect it to drop even more, below $20/oz.

 

[Generic_Lad]

This really doesn't surprise me. From what I can tell, we're caught in 2 situations:

A) The Euro is collapsing, when people don't want to be invested in Europe they, for some reason go to the US Dollar, because of this, the US Dollar appears to be getting stronger. Of course this isn't the case, the US Dollar is still fundamentally worthless, as is the Euro, the US dollar just looks better.

B) The dollar is collapsing. Real inflation is ~5-9% and money printing is going to make that number go up, up and up.


Today, situation A is taking precedence over situation B for all the "big traders"

For everyone else (in the US) situation B is much more worrying, but people still continue to believe the self-fulfilling prophesy that only the rich own PMs and only the rich can afford PMs. We -could- have a mania in PMs but we don't. PMs are overvalued seem to be the rallying call of the masses. They don't understand the basic principle that gold (and to a lesser extent silver and copper) is money. They view it as an investment, something like stocks to buy and hold, rather than viewing it like cash that cannot be destroyed by inflation. Of course gold is a terrible investment. Of course silver is a terrible investment. But it isn't an investment, it is money.

You ask the average person what they should do about silver/gold and the answer is to convert it to paper money! If PMs were truly overvalued, we'd have Gold 4 Cash and not Cash 4 Gold.

 

[Mr. Silver Stash]

I think the market for metals is down because people don't see the long term up side at these prices. We hit the short term ceiling. Money has been rushing back into stocks for over a year. People trust 401k's for retirement, and all that panic buying is being sold off. IMO metals have made gains they won't give back, but some of its gains might be given up short term.

It makes no sense to me how the US economy, and world economy, is sputtering along, and metals are down. I think our economy is operating at the new normal, we have another new crisis with credit card & student loan debt coming in the next five years. New home consumers (graduates) are strapped to a mortgage size student loan payment. The only answer is that the next generation learns being debt-free and working hard leads to prosperity; and gold and silver are the real money.

 

[Piledriver]

Silver prices are based upon a manipulated futures market.

However, the price cannot go much below $25 because world-wide buying scoops up the entire supply whenever it dips.

This dip in prices is already causing supply shortages, which ultimately will lead to higher prices.

If you've got money sitting around in dollars somewhere, you will later kick yourself for not taking advantage of this opportunity.

Keep on Rollin' !

 

[goldencoin]

Big funds are liquidating "winning" positions to avoid taking losses on other positions. The euro event can end in two ways (and it will end). One, the central banks will print the money off to soften a controlled exit from the eurozone, which results in inflation and relief rally. Or, major financial catastrophe in uncontrolled default, bank runs, and bailouts. This scenario results in a deflationary event, which will hit everyone as they fire sell assets to meet collateral requirements. It is at this point that people beg the printing presses to be turned on, at which point PM's and stocks shoot up. I believe we are heading to the later outcome as any printing is politically impossible in the current environment. But what do I know, I am a random internet guy. We will need to keep track of the markets on a day by day basis

HH
-GC

 

[bingbong]

titanium is what you should be buying as supplies will be all mined out in the near future .
none left except urban recycling. silver will never run out by mining .

 

[lovewiibrew]

titanium is what you should be buying as supplies will be all mined out in the near future .
none left except urban recycling. silver will never run out by mining .

I had considered titanium as well but all the bullion I've found is extremely overpriced.