Some of you folks seem troubled still by a short term drop to $18.35 USD?? Wow, what are you going to do when it eventually plunges to $14 USD and below? To me it appears as normal volatility in a consolidating gold and silver market trend and people shouldn't get too bent out of shape about this downward trend...........yet! .
Picking the bottom of a slump is as impossible as picking the top of a bubble without insider information. The real question is; is silver still in bubble territory or slump territory? Most people would say it is in a slump, or at least very close a fair value based on existing ore availability, production costs, energy costs and demand. But there are valid arguments that the price is still artificially high but this is probably more valid for gold rather than silver. With central banks absorbing excess supply to maintain stability, it could be argued that if they stop, the gold price will crash down and silver will temporarily be sucked down with it.
I believe there is still room for consolidation (downward movement). Surplus far exceeds demand in silver (last I checked) and premiums on many physical silver bullion products is as low as I've seen it in the past 2 years in spite of the fact that we have broken through a previous 2013 low spot price (at least temporarily). That tells me sentiment toward silver is poor and none of the claims that silver-pushers have sworn, over the past year, was going to thrust silver up, have done that. There's little to nothing left in the arsenal of the silverbulls' arguments, I'm sorry to have to reveal. That said, it's not all bad news for silver sentiment, but the bad news outweighs the good in my view. But one person's bad news may be another's good and so if you are a (net) buyer of physical silver, it's not necessarily bad news because the price (in USD) that you can buy silver today is less than half of what you would have had to pay just a few very short years ago (time goes by so quickly for some of us). Many of us here add small amounts (and what that means can really vary greatly) to our stack along the way so if you will be doing this, you will probably be in the majority of stackers. Finally, none of us here knows for certain where the price will be tomorrow, 2 weeks from now, or 2 years from now. The best we can do is make educated guesses and mine, at this moment, is that the silver spot has not seen it's lowest point yet before we will be unmistakably in a long term up trend (bull market) at some point in the future....which I'm convinced is very likely in the next couple/several years. .
The question should be: do you expect things to get better in the future, or worse? If better, silver will drop, if worse, silver will go up. As simple as that.
DAMMIT, ITS HAPPENING AGAIN! EVERY TIME I AM JUST ABOUT TO GO TO SLEEP, SILVER DECIDES TO DROP ITS GUTS AND THE SPOT SPLATTERS ALL OVER THE FLOOR. Then, when I wake up next morning its BACK TO THE PREVIOUS DAY'S RANGE! F$%K YOU SILVER PRICE. F#$K YOU AND THE ELECTRONS YOU RODE IN ON.
Last time the silver price did this, I gave it a serious talk. I laid it all out on the line for silver, and explained the consequences of its reckless behaviour. But there it goes again, ignoring me, as if I never spoke...
Hmmm, ok well I'm being forced to part with a chuck of cash. I'm not quite prepared to at this point, but sub $18 silver is too inviting. Oh boy, and look at that ratio!
sub $18 is certainly a buy in my opinion, everyone freeing up dosh for Alibaba, so they can lose it after the hype.
Ali is a buy and dump. Hold ya cash/fiat and wait for the drop...then buy physical Ag Times like this you need a bucket of cash.
