Maybe this thread needs to be renamed Could silver reach 130$AUD in the next 6 months? Just jokes before the flammers start. Though its not exactly surprising that it is climbing fast. The take down was even faster! $26usd/oz will be the tell going forward and where I think some resistance will happen with maybe a retracement (maybe 50%??) Before real move starts. Got to get the rockets primed properly before blast off to da mooooon! :lol:
I think it is very possible it will crack $30, I also think it is very possible it could go to $23 as well.
I still see 'up in September' (may hit AUD$30) but I've changed my tune beyond that and now leaning towards pessimism after that. I think massive funds will head into the stock market beyond November and Gold and Silver will be temporarily left by the wayside. I think there could be a good PM buying opportunity coming up (again). I still have funds on the side ready to go. Long term stackers have nothing to worry about.
its a looooooonnnnng day silver is taking a break, the advance is avoiding 25... maybe after 26 we can see the end. its just a long day. month as well. 30 is behind the silver summit
And everybody is still looking at eachother. And the price dropped again from $25 to $21. No $30 peak seen. Some didn't wait till there to sell again what they previously bought. Always the same returning story. In an uptrend they talk about $5 $10 above what turns out to have been the peak. In a downtrend they talk about $5 $10 below what turns out to have been the bottom. Ones gain, requires anothers pain, and that's the 'why'.
if you wait for around 30 dora to take profit.... gezz, u need to play a different game. You go through all this buying, research, postage costs, driving around for f2f, trading and a hell of alot of your time to make a few dollars profit?...and then "maybe" pay tax on that tiny profit? If you don't have a core holding that you would keep for MANY years or at least until I dono?.. $80+ then go buy paper slv and be a day trader.
That $30 years to come is your statement, not mine. My statement just describes current/topics 6 months peoples silver market behaviour. Inflation is the key driver for mathematical gain as to undo purchasing power losses. We did see inflation, but by far not the expected one. That doesn't mean it won't come. That doesnt mean that people thus won't dump their fiat more for other storages of value alike silver. But since silvers average price doubled the last 5 years, and even quadrupled the last 15 years, we shouldn't hurry to buy silver, and have the patience to wait till most of the money for nothing clubbers frequenting the silver market, go through one of their dump stages. I, with my $30 average, am not disencouraged to buy more silver. The next new price bottom I will again swap the in meantime 'stacked' euros to silver. And it will again bring down my average. Judgement days in the future, when I sell silver now and then, upon needs and upon my understanding of recognizing the better moments, without greed and without fear. Then I'll see if I had been better off with bank account or silver. Alot of the talk on pm selling/related sites is just greed&fear mongering storylining. Safely ignorable.
The question is what do you get then shares/bonds /property/cash? Some of these are falling some are volatile just as pm are. How much have shares gone up since 2008, houses up significantly since 2008 (US) and in AU some of them went up five times from 2002-2007. And cash loosing value is way more than the official rate. I think its not being in a hurry to get into silver/gold you have to have it somewhere and I'm not saying it will outperform the ones mentioned above but i think there is no hurry to get into anything argument. Sometimes loosing the least is winning
We didn't see prices in stores rising alike some of the speculated upon products alike silver. That's just how it is, regardless 'official rates'. It is possible that all those 'significantly up' markets bust down, when their institional / large investment funds temporary buyers get out again (alike for gold earlier this year). And in other cases (alike silver), just a new production batch that is thrown for sale, does on its own already the same job, without existing stock owners selling. When will those physicallybacked silver ETF shareholders follow their gold predecessors in selling? They might be a big school small fish instead of a few big institional/large investment fund whales, and take a couple years many own decisions - selling instead of a couple months handful peoples decisions, but at the end of the line, the effect is just the same. Anyone here a silver ETF shareholder? You guys together hold a half annual world supply. So far you held through all the price drops, or others bought up all the sold shares. I wonder which of the two it is. See, I find it hard to believe that there wasn't some shift within the silver ETF shareholders over the last 2 years. I saw stackers selling why wouldn't ETF shareholders not? Maybe some entities bought up all the shares that have been sold, as to prevent silver from becoming too cheap relative to the rest, and keep people willing to pay the still high price levels. Hell, isn't that the same as what the Federal Reserve does on the US treasury bond market? Everytime small fish sell a share, the Fed buys it up, and thus prevents the cost of borrowing by the US government to go up. And then one day, surprise, suddenly it's all dumped in a short time, surprise because silently derivatives ownership was shifted away from hedgers towards govt/moneyfornothing siders. Just some thoughts. Because I thought I was careful enough, apparently I was not, and now I'm even more careful. I won't stop stacking silver, let alone selling any, but my next euro>silver swaps gonna need more than some scaremonger talk and halve stories.