silver prices

[buster1248]

Whats the deal with silver ? where do you think prices are going to be over the next few months.....

 

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[treeslayer]

I dont think there going to change much in the next few months, but in the next few years i think they will be $50+ . HH

 

[Gilmore Happy]

Without a doubt, headed into the $20's over December.

As Slayer said though, AG is indefinetly headed to $50+ within 5 years.

People are still spooked by the $10 drop in 3-4 days a couple months ago, which Gilmore Happy nailed on the money calling all the way down to 28.83 or somthing and it went down to 28.60 or somthing.

Have fun buying in the $20's

 

[SilverFace]

I don't even pay much attention to silver prices anymore since I've been doing all my buying @ face. But if prices get too much lower it might be worth considering buying a little more the conventional way. But actually what I should probably do (and am planning to do) is just increase my CRHing budget and effort. Once prices get into the triple digits then I will start paying closer attention. I'm certainly not planning on selling any more till then.

HH

 

[jim4silver]

Without a doubt, headed into the $20's over December.

As Slayer said though, AG is indefinetly headed to $50+ within 5 years.

People are still spooked by the $10 drop in 3-4 days a couple months ago, which Gilmore Happy nailed on the money calling all the way down to 28.83 or somthing and it went down to 28.60 or somthing.

Have fun buying in the $20's

OK Gilmore, you are putting your price calling reputation on the line. I really hope you are correct because I don't have nearly enough silver in my long term holdings. If I can bullion in the mid 20s (or better) I will load up, and maybe even splurge and get ASEs if the premiums are what they are now. I have not done my normal dollar cost averaging in a couple of months and am ready to buy.

My short term predictions are normally incorrect, but my longer term trend predictions have been right with respect to PMs and the stock market in general, and I have to agree that long term silver (and the other PMs) will be much higher than they are now.

There is much more coming in the way of financial crisis in Europe and here that will require more printing, easing, loans, debt, etc, to stave off a world wide depression. I think the powers that be will do as much as they can but even that will one day end with possible hyperinflation as a result of all the printing and such. Maybe 5 to 10 years off (or perhaps less), but I don't see any other way out of what has already been done. Many don't know that there is an estimated $1.2 quadrillion (that is 1,200 trillion) worth of derivatives floating around out there (that is last year's number, probably higher now). I don't believe much of that is backed sufficiently to protect such investments if things go bad. If that house of cards crashes, it will be like 2008 all over again, but multiplied exponentially.

And when/if paper markets crash like that, holding PMs will be one of the few ways to protect your wealth.

Just my opinion.

Jim

 

[fistfulladirt]

"Gold's ugly sister"

http://www.wealthwire.com/news/metals/2259?r=1

 

[jim4silver]

"Gold's ugly sister"

http://www.wealthwire.com/news/metals/2259?r=1

Good to see you posting here FFD.

Under normal economic times (if there is such a thing), I would agree with the article that long term silver should be near 20 per ounce. Right now it costs less than 10 bucks an ounce to pull it out of the ground on average. However, if events take place that cause the big money folks to lose confidence in paper investments, it would not take much capital to buy up all of the available for sale silver.

I read that last year the entire world mine output was approx 736 million oz. At today's price of roughly 32 bucks per ounce, that would total $23.5 billion or so if my numbers are correct. That is a large size of money to everyday folks, but put that into perspective on how much is spent in the world on any given day. Our national debt is now $15 trillion, which is 15,000 billion. And if the figure of $1.2 quadrillion is correct for all the derivative investments out there, the total one year supply of silver is really nothing in value compared to all other investments out there.

I am not buying any PMs right now. If we go down I will accumulate more silver for sure, and probably gold and maybe platinum. If prices go up tomorrow I will be happy I have what I have already. If I had none or only a small amount I would be buying here in increments.

Jim

 

[koala33]

Drop to $20 then a jump back to $49 like in May or whenever that was.. Then a drop back to $20 would be great...

 

[Gilmore Happy]

Bump.

Here you go Jim.

Going lower, get ready to buy. I'll be around for your forecasting enjoyment for awhile.

 

[Gilmore Happy]

Without a doubt, headed into the $20's over December.

As Slayer said though, AG is indefinetly headed to $50+ within 5 years.

People are still spooked by the $10 drop in 3-4 days a couple months ago, which Gilmore Happy nailed on the money calling all the way down to 28.83 or somthing and it went down to 28.60 or somthing.

Have fun buying in the $20's

OK Gilmore, you are putting your price calling reputation on the line. I really hope you are correct because I don't have nearly enough silver in my long term holdings. If I can bullion in the mid 20s (or better) I will load up, and maybe even splurge and get ASEs if the premiums are what they are now. I have not done my normal dollar cost averaging in a couple of months and am ready to buy.

My short term predictions are normally incorrect, but my longer term trend predictions have been right with respect to PMs and the stock market in general, and I have to agree that long term silver (and the other PMs) will be much higher than they are now.

There is much more coming in the way of financial crisis in Europe and here that will require more printing, easing, loans, debt, etc, to stave off a world wide depression. I think the powers that be will do as much as they can but even that will one day end with possible hyperinflation as a result of all the printing and such. Maybe 5 to 10 years off (or perhaps less), but I don't see any other way out of what has already been done. Many don't know that there is an estimated $1.2 quadrillion (that is 1,200 trillion) worth of derivatives floating around out there (that is last year's number, probably higher now). I don't believe much of that is backed sufficiently to protect such investments if things go bad. If that house of cards crashes, it will be like 2008 all over again, but multiplied exponentially.

And when/if paper markets crash like that, holding PMs will be one of the few ways to protect your wealth.

Just my opinion.

Jim

Hey Jim. Gilmore is true again, December is in the $20's. "without a doubt". Just some Wednesday humor. I believe it's going lower because people (fundmanagers, portfolios, etf's) see the drop and think the silver run is over, and the fact that it's still highly manipulated. Good thing we know better, and will be buying @ deep discounts.

All good.

 

[jim4silver]

Without a doubt, headed into the $20's over December.

As Slayer said though, AG is indefinetly headed to $50+ within 5 years.

People are still spooked by the $10 drop in 3-4 days a couple months ago, which Gilmore Happy nailed on the money calling all the way down to 28.83 or somthing and it went down to 28.60 or somthing.

Have fun buying in the $20's

OK Gilmore, you are putting your price calling reputation on the line. I really hope you are correct because I don't have nearly enough silver in my long term holdings. If I can bullion in the mid 20s (or better) I will load up, and maybe even splurge and get ASEs if the premiums are what they are now. I have not done my normal dollar cost averaging in a couple of months and am ready to buy.

My short term predictions are normally incorrect, but my longer term trend predictions have been right with respect to PMs and the stock market in general, and I have to agree that long term silver (and the other PMs) will be much higher than they are now.

There is much more coming in the way of financial crisis in Europe and here that will require more printing, easing, loans, debt, etc, to stave off a world wide depression. I think the powers that be will do as much as they can but even that will one day end with possible hyperinflation as a result of all the printing and such. Maybe 5 to 10 years off (or perhaps less), but I don't see any other way out of what has already been done. Many don't know that there is an estimated $1.2 quadrillion (that is 1,200 trillion) worth of derivatives floating around out there (that is last year's number, probably higher now). I don't believe much of that is backed sufficiently to protect such investments if things go bad. If that house of cards crashes, it will be like 2008 all over again, but multiplied exponentially.

And when/if paper markets crash like that, holding PMs will be one of the few ways to protect your wealth.

Just my opinion.

Jim

Hey Jim. Gilmore is true again, December is in the $20's. "without a doubt". Just some Wednesday humor. I believe it's going lower because people (fundmanagers, portfolios, etf's) see the drop and think the silver run is over, and the fact that it's still highly manipulated. Good thing we know better, and will be buying @ deep discounts.

All good.

Good call Gilmore. I really want to get some more silver in the mid 20s. I bought some gold today when spot hit 1580 or so. May go down further but that is fine with me. I don't plan on selling until I retire in about 20 years or so (unless of course the price hits my goal numbers ).

Jim

 

[Gilmore Happy]

Thanks Jim! I pride myself in my research and forecasting so it was nice to be right twice in a row calling the $20's both times here recently.

How much lower can it go?? I just don't have any ideas right now. My gut says down to $25 soon, and then sideways in the low $30's for most of 2012, but it could very well bust to $19 here Dec-March. Wouldnt that be bittersweet.

For now, Im done calling it out, with my reputation on the line , as once we get into these untested waters you just never know. Hopefully CRH will blossom now that the craze is done and died off. Everyone always remembers the bull that charged though...take awhile to forget.

 

[FreedomUIC]

Thanks Jim! I pride myself in my research and forecasting so it was nice to be right twice in a row calling the $20's both times here recently.

How much lower can it go?? I just don't have any ideas right now. My gut says down to $25 soon, and then sideways in the low $30's for most of 2012, but it could very well bust to $19 here Dec-March. Wouldnt that be bittersweet.

For now, Im done calling it out, with my reputation on the line , as once we get into these untested waters you just never know. Hopefully CRH will blossom now that the craze is done and died off. Everyone always remembers the bull that charged though...take awhile to forget.

Research my big patooty, you got in two lucky guesses in a row.

 

[cyberdan]

I just talked to an antique buyer that I sell older Persion silver pieces too. Her husband is Persian/Iranian and her opinion (from what she "heard") is the Iran is selling their gold/silver reserves to pay bills and the price is falling AND the U.S. gov't is planning on flooding the market with gold to drive the price even lower so the Iran gets even less money for their gold.

Any comments?

silver is down $2.59 from just saturday.

 

[jim4silver]

I just talked to an antique buyer that I sell older Persion silver pieces too. Her husband is Persian/Iranian and her opinion (from what she "heard") is the Iran is selling their gold/silver reserves to pay bills and the price is falling AND the U.S. gov't is planning on flooding the market with gold to drive the price even lower so the Iran gets even less money for their gold.

Any comments?

silver is down $2.59 from just saturday.

I could be wrong, but I think it is being done in the paper markets. If a person, gov or financial institution has enough $$$$$, they can just short a bunch of contracts. If there are more sellers than buyers (shorts that is), the price in the futures markets will fall. As prices fall people get scared and start selling their ETF shares, then their gold mining shares, etc.

From what I know, it is the paper markets that control the physical price and not the other way around.

Jim

 

[Diver_Down]

I just talked to an antique buyer that I sell older Persion silver pieces too. Her husband is Persian/Iranian and her opinion (from what she "heard") is the Iran is selling their gold/silver reserves to pay bills and the price is falling AND the U.S. gov't is planning on flooding the market with gold to drive the price even lower so the Iran gets even less money for their gold.

Any comments?

silver is down $2.59 from just saturday.

I could be wrong, but I think it is being done in the paper markets. If a person, gov or financial institution has enough $$$$$, they can just short a bunch of contracts. If there are more sellers than buyers (shorts that is), the price in the futures markets will fall. As prices fall people get scared and start selling their ETF shares, then their gold mining shares, etc.

From what I know, it is the paper markets that control the physical price and not the other way around.

Jim

Jim, I agree with you and would like to expand on your theory. Portfolio managers who have taken a beating on their stocks choose to make up for the losses by liquidating PM holding for some quick cash. It will make the overall performance of a fund look acceptable to investors for the year-end review. Win-Win for all involved- except for those holding PMs. After their balance sheet is reconciled at the end of the month, look for PMs to make a strong comeback at the beginning of the new year as fund managers look to buy and solidify their PM position. The end of the year always takes a beating. It is when I do my best buying. The FUN show with over 600 dealers competing for business is the first show of the new year every year. Rolls of ASE, common date Morgan/Peace, and junk silver bags are always on my radar as I scour the bourse floor.

 

[cyberdan]

The end of the year always takes a beating. It is when I do my best buying.

I just looked up kitco one year chart on AG.

Can anyone find the last 2-3 years?

I am taking a beating in my safe deposit box. Just need a little encouragement for the new year.

 

[Gilmore Happy]

OHHH UIC. dont you know CRH is just my hobby? Pure skill my main!! My real passion is .999 silver, and I have a huge % of my portfolio that is bet on it.
"can anyone find the last 2-3 years?"

Im a bit drunk and buying a ton on Ebay right now even though I think AG is goin lower...but do you mean the charts Cyber Dan I truely believe its going back down to its pre-boom price of $19-24. Buy all you can, Bargain at that price. We know AG has the capability of exploding. Enjoy the ride.....

Just bought a 100 oz Englehard

 

[FreedomUIC]

OHHH UIC. dont you know CRH is just my hobby? Pure skill my main!!

Drunk posting is not a good idea. Drunk BUYING ON EBAY is never a good idea..........



By the way, what is a "Main". Is it something water travels through, traffic drives on is it single in nature.
Figure that one out while you have been imbibing.........

 

[Marchas45]

OHHH UIC. dont you know CRH is just my hobby? Pure skill my main!! My real passion is .999 silver, and I have a huge % of my portfolio that is bet on it.
"can anyone find the last 2-3 years?"

Im a bit drunk and buying a ton on Ebay right now even though I think AG is goin lower...but do you mean the charts Cyber Dan I truely believe its going back down to its pre-boom price of $19-24. Buy all you can, Bargain at that price. We know AG has the capability of exploding. Enjoy the ride.....

Just bought a 100 oz Englehard

Buying on ebay? are you drunk? Don't you know your paying well over spot on ebay. I never buy on ebay unless it's well under spot if I can find it, but I will admit I sell on ebay and with the fees I still make money, they'll buy all the time over spot. 100 oz Engelhard bar sells on the average right now for $3300.00 (or you bought the bar at $3,165.00) which is over $300.00 spot price for that bar and that's another 10oz of silver for me at the spot price right now. I hate paying premiums.