It just touched the AUD 3k mark on the silverprice.org chart and bounced off, it's sitting within $1.00 of that mark, a very good sign. Silver is not sitting idle, hopefully it will reach the AUD $34.00 level tonight.
As hoped, silver visited the AUD $34.00 mark overnight. It didn't linger there for long and quickly fell back but it was a good effort!
I have an eBay shop where I’m selling 30 to 50 ounces of silver a week. The prices are high to cover the fees and still leaves me with a healthy profit. I could be buying on the peak and still do well, but buying the dip allows me to increase my stack and maintain a 2 digit return on my investment. A win/win situation.
The only problem is that in most of them minds the spot is still around $25 and $2200 and they calculate the premium like that.So it seems as spot goes higher they all want lower or same premium as 2 years ago....Just look at the trading section.Back in the days if you mentioned "I want a 1oz bar at spot" you were kind of "cursed or yelled at"-but most respected the forum and did not even think of that to ask.These days that is the new norm.
I’ve been bullish on AUD $36 silver for a while now, so between the dichotomy of bank crisis vs interest rate increases, I expect it will be the new floor once it reaches that level.
