How much longer can the silver price bounce between $28-26?

Discussion in 'Silver' started by smeagol, Jul 10, 2012.

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  1. smeagol

    smeagol New Member

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    the price of silver has been wiggling between $28-26 (accounting for resistance and support) for a little while now... (well at least more than i expected it to)

    what happens from here?
    are there any political dates/events to keep a close eye on to predict what may happen next?
    how much longer can this keep going for?
    do you think this is the 'crunch time' everyone has been waiting for?


    thanks in advance :D
     
    smeagol, Jul 10, 2012
    #1
  2. hem9

    hem9 Active Member Silver Stacker

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    Wait til August after the US elections things should get interesting.
     
    hem9, Jul 10, 2012
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  3. Dr.Gold

    Dr.Gold New Member

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    Also over the next 2 months Italy, Spain and Greece each have quite a lot of bond auctions. Wait and see their bond yields rise. The effect on PMs will be even more interesting......
     
    Dr.Gold, Jul 10, 2012
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  4. anonmiss

    anonmiss Active Member Silver Stacker

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    Yep frustrating isn't it. Don't you just want to grab the chart by the scruff of the neck and say 'DO SOMETHING DIFFERENT DAMM IT'! :p
     
    anonmiss, Jul 10, 2012
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  5. Jash

    Jash New Member

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    Can't really say, except the longer the better. I've picked up 160oz this past week as I've been waiting for that third testing of $26ish. Looks like we'll get a fourth testing this week.

    If we see sub $26 the next stop could be the late teens. If so, finding physical may be difficult.
     
    Jash, Jul 11, 2012
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  6. silvertongue

    silvertongue Member Silver Stacker

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    Depends on the day
    This is probably the trading range for the current paradigm, and probably will be until after the US elections.
     
    silvertongue, Jul 11, 2012
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  7. Macros_The_Black

    Macros_The_Black Member Silver Stacker

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    Could be 10 years or more ... (obviously we all hope not but it has stagnated in recent history eg 1995-2005).

    Of course during those periods we didn't have anything other than credit-driven booms in shares & realestate, so I for one believe this era is where precious metals *should* be the performing asset class.
     
    Macros_The_Black, Jul 11, 2012
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  8. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    I was buying silver from $14 up to $50, there was never any problem buying silver on eBay, of course that was before silver did anything interesting and you could buy it under spot.

    Finding a particular type of physical might be harder, they run out of 10oz bars etc. but I ran out of money before eBay ran out of silver.

    There was a shortage of manufactured silver at one point, the mints had silver but no silver products for sale and there were other places telling you there was a couple of months wait for bars. I just shopped elsewhere.
     
    Jislizard, Jul 11, 2012
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  9. doomsday surprise

    doomsday surprise Well-Known Member Silver Stacker

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    US presidential elections are always in November - 2nd Tuesday I think.
     
    doomsday surprise, Jul 11, 2012
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  10. SilverSanchez

    SilverSanchez Active Member

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    answer: always longer than one holding wants it too and never long enough for those waiting to buy
     
    SilverSanchez, Jul 11, 2012
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  11. Newtosilver

    Newtosilver Well-Known Member Silver Stacker

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    How true is that.....
     
    Newtosilver, Jul 11, 2012
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  12. Matthew 26:14

    Matthew 26:14 New Member

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    when it drops to $15 an ounce you will be harking for the price to go back to $26-$28 range!
     
    Matthew 26:14, Jul 11, 2012
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  13. Ghost Story

    Ghost Story Active Member

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    yeah i recon if it goes to 15 $ there will be a lot of strange things going on in the world its tried so hard to brake 26 , 15 is a long way off.
     
    Ghost Story, Jul 11, 2012
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  14. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    $37 in March
    $26 in July

    I'd say $15 is potentially only 4 months away at the current rate....
     
    wrcmad, Jul 11, 2012
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  15. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    ^
    so roughly in Nov.
    I will wait to the D day then.
     
    Lunardragon, Jul 11, 2012
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  16. SilverSanchez

    SilverSanchez Active Member

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    By this resoning silver should be in the next galaxy if you take and early 2011rate of rise

    This reasoning in non-sense, you can draw lines on graphs all you want but just because its going up or down doesnt mean it will keep doing the same thing.
     
    SilverSanchez, Jul 11, 2012
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  17. Load of Bullion

    Load of Bullion Well-Known Member

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    Wow, we are possibly heading back to $15 silver. I'm back in at $20 although the low twenties is going to be tempting.
     
    Load of Bullion, Jul 11, 2012
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  18. trew

    trew Active Member Silver Stacker

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    And by this time next year it will be zero !
     
    trew, Jul 11, 2012
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  19. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    SilverSanchez, I agree. This reasoning is rubbish. No chart of mine shows $15 any time soon (yet).

    But IMHO it's no worse than assuming $15 is a long way off.

    At $37, $26 was a long way off too. Remember all those backing up the truck if it got to $30?
     
    wrcmad, Jul 11, 2012
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  20. SilverMark

    SilverMark Member

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    Here is an auction calendar for the next couple of months for those that are interested. July 19 will be an interesting date for Spain now that the German courts have delayed a decision on the constitutionality of the ESM (that they can't fund and will likely never get off the ground anyway but try telling the markets that). Make your own mind up on how this will affect PMs as Spain and Italy remain unable to rollover debt at affordable rates.

    http://www.zerohedge.com/news/horror-horror-european-july-august-sovereign-bond-issuance-calendar

    Can't recommend this video highly enough for a very informative and unique summary of the euro situation as it currently stands:

    http://www.youtube.com/watch?v=wJ-l1LIdWOU&t=30s

    edit: couldnt get the embedding to work :|
     
    SilverMark, Jul 11, 2012
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