At this point, is the possibility of "back up the truck" prices (say, US $12/oz or lower) a rapidly fading dream? Or is there still an outside chance of another big drop in 2015?
I was saying sideways in the mid to low 20's where it still is. and has been for over a year now.( with a brief slip for a very short period under 20 in AUD) -- the world does not revolve around the USA
That is correct, I remember vividly... If it ever gets to $20 I'll sell everything I own and buy buy buy... But when it hits $20 they say "when it gets to $15" etc etc wash rinse and repeat. I can guarantee that there are some on here who have been backing up the truck though During the recent falls, my buying accelerated. Not to what I'd consider back up the truck levels though.
Mid to low 20s implies $21.50 to $25. So you seem to have had a period of price amnesia that spanned several months.
lol people were saying back the truck up in the 30's and 40's[/quote] That is correct, I remember vividly... If it ever gets to $20 I'll sell everything I own and buy buy buy... But when it hits $20 they say "when it gets to $15" etc etc wash rinse and repeat. [/quote] ^this Everyone was going to back up the truck at $20, then when price actually reached that level, the so-called truck drivers turned into stunned mullets. :lol:
That is correct, I remember vividly... If it ever gets to $20 I'll sell everything I own and buy buy buy... But when it hits $20 they say "when it gets to $15" etc etc wash rinse and repeat. [/quote] ^this Everyone was going to back up the truck at $20, then when price actually reached that level, the so-called truck drivers turned into stunned mullets. :lol:[/quote]can you dig up some posts where people were saying this? Was before my timl
An assortment of "back up the truck threads". I'll let someone else work out the spot prices when these were posted! http://forums.silverstackers.com/topic-57134-where-are-the-back-the-truck-up-callers-now.html http://forums.silverstackers.com/topic-48095-back-the-truck-up.html http://forums.silverstackers.com/topic-41818-backing-the-truck-up.html
This is the highest silver price I have seen! I am tending to drift towards buying gold because silver is too expensive.
ECB QE...maybe a happy stock market. US FED new QE...maybe a stronger USD or maybe the FED will raise interest rates. (I can't see that due to the current oil circumstances) If the USD maintains strength precious metal prices may go down in USD, for folk in Australia, if the AUD drops more against the USD then...precious metal prices won't be cheap for us but those who locked in a bit of metal back in early Nov 2014 have hedged. If The DOW corrects, which it could due to the Oil Fracking businesses those businesses and banks that hold the debt could go bust and imo, could be the trigger for the next GFC. Plenty of frackers are going to go bankrupt if oil stays at these prices. For Aussies...Iron ore down, Copper down, Coal down, Santos...Big projects shelved or in the process of cutting back...all doesn't look good. No one can really predict what is going to happen, so...my way of thinking, if you don't have metal now and you think the AUD will drop to 70 or lower, you might want to buy a few ounces sooner than later. If you already have a chunk of metal in your portfolio paid for in-full you have the luxury of time on your side and can wait and see. DYODD, but I see the USD gaining more strength and the EU turning to poop, in that case, money will flow to the USD and gold. Also, don't forget about the Indians, their population is large and their age is young, the demand for gold could be strong for the next month or so, I expect Gold and silver to dip April but again...the AUD could have dropped to about 74 - 75 by then. Toss a coin.
Unlikely to see back up the truck again. Steady if slow move upwards. Sideways for a while with occasional drops followed by sharp upward moves. Back up the truck prices again? Not sure. I did buy an extra 200 Oz over the last 6 weeks. Not complaining and not worrying about possible drop either.
To be fair though, there were people in that thread saying $5 to $8. I wonder if they are still holding out?
Holdfast, that was very good comment earlier. Focusing on the AUD and USD: There were many solid projections of ongoing falls in the AUD, and growing strength of the USD, that panned out. The USD should continue to gain in strength for a while (how long?) which could lead to another fall in the silver price. But as you said, many of us buy in AUD, and the AUD will continue its grind downwards as the slow train wreck of the Australian economy gathers pace. There's just too much momentum (economic, political, demographic, etc) making it almost impossible for Australia to quickly adapt to changing global conditions by transitioning to a more modern, broad-based economy without some major shock (and I mean, REALLY major).
I have run out of trucks to back up. Should have enough to keep me going though if silver does go to the moon, though if it just goes back to $26 I will be happy enough. Mind you, many of my purchases have a bit of premium on them so I would probably break even if it didn't quite get there.
