$28.00 Silver.

It's the steepest uptick since 2010-2011 and a price not seen since around 2013 if you discount intraday. The sharp run up from 21 AUD in the last few months is in theory a 33% rise. Generally when this happens a correction may in the offing, profit taking. PnD maybe?
 
Yes, the speed of this is a bit of a concern, if it took a couple of months to get this high it would be a bit more stable, but life would be a lot more boring!.

Not that it matters, I am not intending to sell, so picking the high point is not a problem and I get to see myself get rich on paper before I get to see it all get lost again on paper.
 
milled said:
It's the steepest uptick since 2010-2011 and a price not seen since around 2013 if you discount intraday. The sharp run up from 21 AUD in the last few months is in theory a 33% rise. Generally when this happens a correction may in the offing, profit taking. PnD maybe?
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Edit fat fingers

True point. a profit taking correction maybe in the offering but me thinks not yet. At least not of any PD significance. GSR is too far apart. Far as I can work out big money is still finalising launch mode, not just in PMs either.
 
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Now I wish I'd bought more but if it had stayed where it was I'd have wished I bought less - some people are never happy.
 
It’s certainly moving along with some momentum. Waiting for the pullback but feels like the movement upwards still has a way to go.
 
Glenis said:
Now I wish I'd bought more but if it had stayed where it was I'd have wished I bought less - some people are never happy.
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There's still a chance to buy on a pullback. I'm confident that we'll exceed all time high for silver within the next 5 years. The housing bubble in China is simply unsustainable and a yuan devaluation will guarantee that all other major currencies will need to print like mad.

Past couple of months, I've taken a fun position in platinum. If pt pulls back to $900, I may double my pt stack.

As JG has indicated many times, there's very little stackable silver that exists above ground and if people start to look for hard assets, there won't be enough silver.

The people in China stack property with the belief that they are hard assets, but soon they will find out it is only an illusion, and they will all be scrambling for gold and silver. I won't be surprised if apartment prices in China were to drop by 80-90% over the next decade.

Just a quick calculation, 1.4 billion Chinese, but there is only 3-4 billion ounces of silver bullion in the world. 65 million empty apartments in 2017. Probably 84 million apartments by 2019 if you extrapolate. For how much long can this charade continue? Another 2 years? Another 5 years?

By extrapolation, the number of empty apartments if it continues:

2020 95 million
2021 106 million
2022 118 million
2023 130 million
2024 143 million

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sgbuyer said:
There's still a chance to buy on a pullback. I'm confident that we'll exceed all time high for silver within the next 5 years. The housing bubble in China is simply unsustainable and a yuan devaluation will guarantee that all other major currencies will need to print like mad.

The people in China stack property with the belief that they are hard assets, but soon they will find out it is only an illusion, and they will all be scrambling for gold and silver. I won't be surprised if apartment prices in China were to drop by 80-90% over the next decade.
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I may be wrong but I think the Chinese government had stopped Joe Pubic (or Zhang Wei Public) from importing gold or silver.

Davros10 said:
That was the Final FOMO spike. Now waiting for the next buying opportunity at around $7
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:rolleyes:
 
Glenis said:
I may be wrong but I think the Chinese government had stopped Joe Pubic (or Zhang Wei Public) from importing gold or silver.
:rolleyes:
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I am not aware that import of raw silver is prohibited but silver bullion is sold with 17% VAT in China.
 
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