Silver

[Wickaboag]

Hey all, Wicka here!
Just throwing my two cents in here, but watching silver tank .60$ a day is kind of a blow to the gut. I bought a bit of silver when I was 12 (3) years ago, and I just started buying again this year, [after not checking the charts for 3 years showed me my investment doubled!] Maybe I should do that again? :P
Opinions on the future of silver? (short-term)
Comments
Wicka

 

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[silverdollarbill]

Do not get hung up on short term swings, let alone daily swings. Try to buy low when you can, but focus on long term. Fiat currencies around the world are being debased. It is a race to the bottom. Also, at your age, you will probably see a time when the USD is no longer the world's reserve currency. Silver and Gold are money. Federal Reserve Notes are just pieces of paper.

Also, the market is due for a crash. Something similar to what happened in 2008. It will happen again, the only question is when. When it does crash, and it will, silver will get hammered. Buy as much as you can then.

 

[Marchas45]

Most importantly don't get hung up on the spot price if you are in it for the Long Haul. You bought 3 years ago and it's paid off for you. So Happy Stacking. Lol
I still say $45.00-$50.00 by the end off the year. My opinion off course.

 

[jim4silver]

Do not get hung up on short term swings, let alone daily swings. Try to buy low when you can, but focus on long term. Fiat currencies around the world are being debased. It is a race to the bottom. Also, at your age, you will probably see a time when the USD is no longer the world's reserve currency. Silver and Gold are money. Federal Reserve Notes are just pieces of paper.

Also, the market is due for a crash. Something similar to what happened in 2008. It will happen again, the only question is when. When it does crash, and it will, silver will get hammered. Buy as much as you can then.

We already had another big crash since 2008, one that resulted in a similar sized percentage drop. In 2008 silver went from roughly 21 to 9, we'll call it a 57% drop but my numbers may be off a little. In April of 2011 silver went from roughly 48 at its high down to a bottom of roughly 26, which took much longer to get to than getting to the bottom in the 2008 correction. That is roughly a 46% drop. Not as much as in 2008 but still on par. Plus there is much support at 26. If it breaks that, it could go to whatever at that point. But I doubt you would find physical anywhere near spot on a break below the mid 20s.

The paper price can be moved like a penny stock, but that does not mean that there will always be metal available at the paper price, which there is now basically (with respect to local coin dealers having silver in stock and relatively low premiums). There have been reports though of long delays in getting really big orders for silver filled recently.

I would not be surprised though to see silver get pushed down into the high 20s again. I don't know if we are going there or not, but I don't think we will see it break through 26. If I am wrong and it breaks below that down to 20 or below, I will take a loan to buy as much silver (and gold) as I can.

Jim

 

[TreasurePirate69]

Yes, we had a 57% drop from last year. But just before that we also had about a 100% increase in just a couple of months. So we have no problem acknowledging the drop but the potentially manipulated run up is something that no one cares to address? Shocking!

My opinion. Now is not the time to buy a large amount (small purchases are fine). Hold off just a little longer on big investments since the price is still sliding down. Take a look at the chart from the previously mentioned high and it is easy to see that the overall trend is still downward.

$25 by the end of the year. Just my opinion of course.

 

[CubanHunter]

In my opinion we are all gambling here. No one of us know the future and silver is very extremely volatile. In my opinion the price of silver is not moved by investors but by industrial demand so the most bulling factor for higher prices and shortages is a economic recovery so the industrial demand increase the price increase. As far as this date we can see that we are not going to have a economic recovery in a while so it is my opinion that the skyrocketing move that many people are waiting is not going to happen very soon. The only thing I can see worth investing shortterm as a "money making opportunity" is numismatic coins and of course that is gambling too in some way.

 

[onlyforthebrave]

I am the posterboy for post-buying regrets. Most of my purchases were done before $1,500/oz. and I'm actually up from that time, but it does bum me out when gold nearly breaches $1,800 and hits $1,700 two weeks later. Silver's an even sadder story, pushing $35 and then going back to $31. But just keep in mind the reason you're doing this, and it's not day-to-day gratification (although this will come in time).

 

[Wickaboag]

I am the posterboy for post-buying regrets. Most of my purchases were done before $1,500/oz. and I'm actually up from that time, but it does bum me out when gold nearly breaches $1,800 and hits $1,700 two weeks later. Silver's an even sadder story, pushing $35 and then going back to $31. But just keep in mind the reason you're doing this, and it's not day-to-day gratification (although this will come in time).

I know, I liked not touches any coin for 3 years, or caring, and comming back and all silver doubled
I guess thats the good part for being 15
Thanks!
Wicka

 

[Jason in Enid]

The dollar is strengthening against the euro which means it has more buying power which means the price of PM goes down. Look at all the aspects before getting wrapped around the axle of a price drop.