When I got in I believed it's going to go up when everything else tanks - we'll need a new safe class according to this guy: It is now going up after many years of wait. What are members thoughts on waiting until a certain symbolic mark (like $30) and then sell, or is this the big one we're headed up from which we won't come down anytime soon...?
Went through this before in 2011, it was clear then the price was going togo hard then settle back at a reasonable rate. This looks very similar. FOMO kicked in hard and a there are more than few people who are still sitting on stacks that set them back $40+ an ounce. I think this still has a fair way togo short term. But will come back to a reasonable but higher than current position not long after a big Jump, but for a long term it will be above what it currently is but no where near the high. I would likely say it will settle back at over $30 an ounce long term, but short term it will be a crazy number IMO. Just avoid FOMO and buying to high and be stuck with an expensive stack. I sold about 6 Kgs of silver I bought for between $8-$9 an ounce before 2008, I sold for $38 in 2011, the guy who bought these from me thought he was getting a deal and was buying on a dip, as it was over $40 a day before, he was wrong he bought on a decline not a dip, Id say he still has that stack or he took a big hit. So just be cautious guys, set a limit your prepared to pay and stick to it especially if your not prepared to sell your stack on a high, you can seriously make your stack very expensive by buying because of FOMO.
I get how historic value is not reflected in current GSR which makes Silver seem undervalued. But one thing I don't understand is apparently high GSR happens during depth of economic downturn. But apparently the GSR being high now while we are in prosporous times (market wise) is apparently a signal it will go the other way. What I don't understand is why that would be the case - if there is a crash wouldn't it go even worse - as people go for gold, etc. Fundamentally doesn't something else have to change for silver to start winning? (From https://www.mining.com/web/alert-gold-silver-ratio-spikes-highest-level-27-years/) ie. Why can't GSR go to 90, 100, 110, why would people fundamentally care?
I won't be selling anything substantial just anything I want to move into something different. However if the GSR got to 60-55 then I would definitely shift some silver to gold.
btw I have absolutely no idea where this is going to end up but it sure just adds some flavour to the day watching it race upwards. I will turn my attention to something else when it turns down and then start buying again when it steadies again.
Thanks to all this fiat printing and massive bubbles everywhere Silver and Gold are in a long term positive trend, so I say wait it out for a long time and get $100s for silver ounce.
I was buying at $19 so if it hits $30 then I wouldn't mind selling enough to get back my initial investment. After that anything else is free money, whether it goes up or down. I still have a stash in the SMSF which I am happy to just sit on long term so I wouldn't be gambling with the entire stack.
