Since the price dropped from $35 to $32 without much futures market and ETF stock movements, alot other demand (stackers?) must have sold there. Did you already buy back in (partly? If so, at which price(s)? What's your opinion on the past and what is next? To get an impression of the market.
Thats an easy one mate. Yes I sold then and I have bought back now. Not greedy. Happy to make 10% profit while holding onto real wealth. The Cyprus situation isnt going away. The locals are organising a revolution so bankers in that country will be a thing of the past soon. And it wont stop there. I can feel an EU revolution coming up as the dominos fall.
Easy. Cos it's so shiny and nice to hold! I have a hard time letting go of any of my bullion coins/bars. No problem selling numismatic items though.
Were I more entrenched in the Silver community I would say I would certainly be more liquid with my PM investments. To be blunt, if I had a good community of stackers and dealers to buy and sell from I would do so more frequently. Like RM, as much as I get a good feeling with the spot (my last buy was a happy one for me at approx $25) I tend to hold my shiny because I don't have the time or contacts to do as well as I would like with physical. I guess that is where the futures come in, which thanks to Pirocco's other thread, I am learning more about. But I digress
That's also something to take into account when judging the price. I remember in 2011, when silver sniffed at $50 two times, that silver had a big downshot, while gold had an upshot, one of the rare times that both metals showed opposite price moves. The only explanation for it must be people that swapped silver to gold.
Hi Pirocco, Dumped 80kg at that level.....watching and waiting for the U.S. dollar. to finish its big run up. Still a long long way to go I am afraid. The Aussie dollar will hold its strength mostly and silver will be a hell of a lot cheaper soon if gold breaks that $1500 mark...could be looking at $1100...so silver at $17 at a guess....but anything can happen....best scenario is a consolidation while the U.S. dollar is on a tear
I'm still learning about the GSR related to benefits of swapping out but I currently have very little AU. In your opinion, hiho, is it worth picking up Gold in this current climate or sticking with silver. If Gold gets much cheaper I'm keen to pick some up while I have a bit of fiat to throw around.
Usually the link between gold and silver prices is created along the futures market segment of the silver market. Now, the total amount gold futures so far never visited 2008's low. While silver visited it like 6 times since, including last weeks wednesday when silver spot was $27. Last year in summer, the amount silver futures even hit a decade record low. The futures market can only affect the spot price by taking or dumping of futures positions. They can't dump a futures position more than once. So if they dump gold positions (they still have twice the 2008's low), and they lack silver positions to dump too, then byebye so-called link gold-silver. Wouldn't be the first time.
And increase. Different metals. Different owners. Different markets. A ratio between prices only serves swappers between them. You know, those that buy gold or silver to dump it later on when others drove the price up, regardless inflation.
I sold most of my silver over the last year or so for prices through the 30's, am starting to rebuy again now. Tonights plunge will make for some potentially cheap buying on Monday, although it all looks very 2007/08ish right now, DJI near 15,000, and the ass falling out of commodities. Got a feeling the markets could be in for a punishing, which means gold and silver will probably go down with it, only to rebound with force.
