well this may be the silliest question ever asked , but I am very new to pm,s what caused silver to rise to $46 , and what has caused it to fall back down to $19
Markets go up & markets go down, it's that simple don't over think it. One day it will $46 again that's a fact. No one knows when ! But some people like to think they do there's plenty of so called experts that have an opinion on it. The fact is, they keep saying silver is going to the moon, $100 silver soon, bla bla bla, if they say it enough times eventually they'll be right. When I was new to PM I used to read and listen to them all and watching all the youtube videos looking at the charts waiting. Now I realise they've all just got an adjender ie; selling silver & gold
From my brief experience in PMs Silver especially performs unlike any other commodity. From the way it's mined to the way its consumed all should alter the market in predictable ways, alas it appears to have extremely little effect.
The optimist is correct. It moves up and down and no single event will alter its trend In The long run. You must push all the noise out of your head and do not get drawn into what seems to make perfect sense. Q.E., manipulation, gold standard, etc, etc have been making the rounds for a long time and have shown no effect on the current downtrend. Forget most analysts as 99.9% of them have been caught with their pants down and you would be deep in the red if you had of followed their advice. Eventually the market will turns its gaze back to gold and silver.
I was thinking about asking a similiar question. Getting more relaxed about silver and not checking price every 3 hours. I think the price is low now though so buying all I can afford
Of course it's a fact that one day it'll be $46 oz ! True story, All in my life time (and I'm only 35) You could once buy a detached house for 40,000 now its 250,000 A can of coke was 29p now it's 1 Used to cost 25 to fill my car up now its 100 I'm as sure as the sun will rise tomorrow that one day silver will be $100oz and that's with out all the "it"ll become extinct, it's rarer than gold crap" Just basic inflation over time
The GFC was going on, people were dumping dollars and buying up PMs, afraid of losing it all. As it is now "over", people are switching back to fiat and carrying on as usual. Need another global financial scare to get that price back up, $15/oz silver by Christmas people!
Pretty much, the reason why I buy silver is to protect my money. What I mean by that is instead of having cash (which depreciates in value, and is fiat, meaning that it can be made infinitely as long as trees grow) Silver has to be mined from the ground and/or recycled and is a limited resource. Silver will have a tangible value, whereas bills do not. Plus silver and gold have been used as money for thousands of years.
It would be wonderful if silver went that low. But not that silver is on SOME of the investors radars, if it went down to $15 or even $10, the majority of silver would be bought up in a matter of days in this CURRENT day in age.
Being new to PM as well, looks like a good time to have found silver, I will try and restrain myself from buy too much at once and hope the price drops further.
So from what I gather, its better to average out my purchases regardless of whether the price of silver is high or low? Psychologically I think I'll find it hard to refrain from buying when the price of silver is "low" by my own standards and hard to purchase when the price of silver is "high" in my mind.
Haha. Of course not. "Price average" is just a soft expression for saying that they lost a lot of money by believing the hype and buying too expensive. It's best to buy at the cheapest possible price. That's all.
lol at above 2; optimist thinks it will get better and Cheepo think it will get cheaper; following the meanings of their name
