Midnight to 6am - Overnight Spot Watchers Spot...

Discussion in 'Silver' started by Turk, Mar 31, 2011.

  1. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

    Joined:
    Jan 8, 2016
    Messages:
    4,171
    Likes Received:
    1,143
    Trophy Points:
    113
    Location:
    North Sydney
    Who would pay $2495 when there are 800 million ounces mined a year and likely trillion ounces still in the ground?
     
  2. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,928
    Likes Received:
    6,517
    Trophy Points:
    113
    Location:
    Sydney
    Spots up, AUD down!
     
    Shaddam IV likes this.
  3. adze67

    adze67 Well-Known Member Silver Stacker

    Joined:
    Mar 26, 2011
    Messages:
    4,920
    Likes Received:
    3,220
    Trophy Points:
    113
    Location:
    A Galaxy far, far away...
    Well that seemed to sort itself out o_O

    Silver Price 02.PNG
     
    Real $, 66rounds and jultorsk like this.
  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2010
    Messages:
    8,298
    Likes Received:
    7,657
    Trophy Points:
    113
    Location:
    House Corrino
    Nice to see gold poking into the $2700 AUD zone for a bit....
     
    Real $, heartastack, adze67 and 2 others like this.
  5. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    If you haven't pulled out a gold bar ounce for a while I highly suggest you do so.. packing $2700 into that small object is both absolutely awe-inspiring and alarming.
     
    Real $, samoth25, Shaddam IV and 3 others like this.
  6. JohnnyBravo300

    JohnnyBravo300 Well-Known Member Silver Stacker

    Joined:
    Mar 16, 2019
    Messages:
    3,556
    Likes Received:
    3,398
    Trophy Points:
    113
    Location:
    Colorado USA
    Is that about 1 month take home pay for a lower class there? Like maybe comparable to trailer park income?
    An ounce of gold would be hard to live on here for a month in the city with rent bills and groceries.
    Depends on the city i guess, some are much cheaper.
     
  7. Silverling

    Silverling Well-Known Member Silver Stacker

    Joined:
    Aug 13, 2017
    Messages:
    1,586
    Likes Received:
    1,947
    Trophy Points:
    113
    Location:
    NSW
    Yeah nearly, it's just under minimum wage.

    The national minimum wage is $772.60 per week, for a 38 hour week, or $20.33 per hour.
     
    OzBenzBitz and JohnnyBravo300 like this.
  8. heartastack

    heartastack Well-Known Member Silver Stacker

    Joined:
    Sep 2, 2010
    Messages:
    2,649
    Likes Received:
    3,019
    Trophy Points:
    113
    Location:
    Melbourne
    If you look at gold as savings e.g. after essentials and living expenses are paid then 2700 is a boatload even if you have expensive taste and a coke/hooker problem you could enjoy a weekend hard enough until you pass out.
     
    JohnnyBravo300 likes this.
  9. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    Ever heard of Silver Tuesday? (27th of March 1980)
     
    adze67 likes this.
  10. adze67

    adze67 Well-Known Member Silver Stacker

    Joined:
    Mar 26, 2011
    Messages:
    4,920
    Likes Received:
    3,220
    Trophy Points:
    113
    Location:
    A Galaxy far, far away...
    OzBenzBitz likes this.
  11. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    Real $ and adze67 like this.
  12. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,928
    Likes Received:
    6,517
    Trophy Points:
    113
    Location:
    Sydney
    AUD down so silver is steady and gold is up.
     
  13. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    When this happens I'm always reminded that the real money is metals, they are the constant... it's AUD, USD...all fiat that dances around their value
     
    sammysilver and adze67 like this.
  14. adze67

    adze67 Well-Known Member Silver Stacker

    Joined:
    Mar 26, 2011
    Messages:
    4,920
    Likes Received:
    3,220
    Trophy Points:
    113
    Location:
    A Galaxy far, far away...
    Thanks for flagging it, found when looking for what happened that day...

    Imagine watching those 18 days of of charts o_O
     
    Real $ and sammysilver like this.
  15. sammysilver

    sammysilver Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,928
    Likes Received:
    6,517
    Trophy Points:
    113
    Location:
    Sydney
    Yes but we can’t escape the fact that we live in an AUD environment with income and expenses locked in that dynamic.
    Precious metals exist in a parallel universe that we tend to dip in and out of.
     
    OzBenzBitz likes this.
  16. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    Depends how heavily "in" metals one is as to how much one feels the rise & fall of AUD...to a certain extent anyway.
    I do agree however I view prices/cost of pretty much everything in ounces of gold or silver....a shirt, 2-3oz Ag, a cheap second hand 1980's Benz 2oz Au
    Being involved in metals has changed how I look at all the trades we make on a day to day basis.
     
  17. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    As for you.... FOR SHAME!!!
    Every stacker worth their salt should know about Silver Tuesday, the Bunker-Hunt Brothers (and some shady Saudi's) attempt at cornering the PHYSICAL silver market.
    The big point I took away from their experience was that if you become a risk to the status quo, the powers that be will just change the rules in order to nullify the risk.
    Basically, the only people who win, are the ones that write the rules and those smart enough to make the rules work for them.... without having them work TOO well.
     
    Real $, adze67 and sammysilver like this.
  18. adze67

    adze67 Well-Known Member Silver Stacker

    Joined:
    Mar 26, 2011
    Messages:
    4,920
    Likes Received:
    3,220
    Trophy Points:
    113
    Location:
    A Galaxy far, far away...
    Fair bump...play on :p

    Interesting that the "astronomical" peak of $50 that silver hit 40 years ago :eek: (when Gold first peaked at $850USD o_O) wasn't matched back in 2011 when Gold next "peaked" at ~$1900USD (112% increase in Gold's price, doubled and then some :rolleyes:) and still hasn't come close while gold has been hovering around $2100USD (twice ;))...I'm not a trading analyst but "Cup and Handle" springs to mind :D and Silver definitely has room to move :cool:

    Cup Handle.PNG
     
    Real $ and sammysilver like this.
  19. OzBenzBitz

    OzBenzBitz Active Member Silver Stacker

    Joined:
    Aug 21, 2018
    Messages:
    138
    Likes Received:
    130
    Trophy Points:
    43
    Location:
    Melbourne
    Both metals are long term plays .... If you're going to look at it as an investment, In most cases it works best to think on an intergenerational basis... building wealth for your kids but I think if you're getting involved in metals, you have to be prepared to have your funds tied up for around 7-10 years in order to sell at an optimal time to get the most out of your investment. I think most of us will agree however that we have no intention of ever getting out of metals completely.
    For me, it's an ongoing thing... It's how I store & save money, the growth in dollar value is less representative of material gain than it is of metals ability to retain its purchasing power despite the dollars ever faster rate of devaluation.
    In other words, I don't see metals as an investment that gains value but as a way to protect my savings from inflation, rises in the cost of living, tax grabs etc.
     
    JohnnyBravo300 and adze67 like this.
  20. jultorsk

    jultorsk Well-Known Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    1,891
    Likes Received:
    3,391
    Trophy Points:
    113
    Location:
    Australia
    Screen Shot 2022-04-23 at 9.53.44 am.png

    o_O
     
    Oddjob likes this.

Share This Page