So let me get this straight. You bought into all this around the highs of 2011 and are still here and not to bitter about it? As long as you have a bit of time , say 25 years or less maybe you will be fine. Long term we are GUARANTEED to see other big spikes in the $50 or higher range and then you can cash out even with a few extra dollars. On the bright side you have found one of the few hobbies that over time can turn a profit or at least break even SO THAT IS PRICELESS.
I don't think the aussie dollar has the strength to come back ti cause sub $20 silver on it's own. You would need AgUSD down 5% as well. Could happen but most likely it would be in response to a higher USD which would offset a lot of the drop in AUD denominated prices. After getting in cheap I won't be backing up any trucks until we're at $18. Most of mine was bought when the spot was around $19.5 with a whack more when we had that super drop 6 months ago (should have gotten more). I don't go in for TA much but we haven't seen lower lows since. I wouldn't go out on a buying spree right now but I wouldn't be holding my breath waiting for $19.03 either, you'll turn blue.
Sub $20 silver is more of an Aussie Dollar prediction than silver. The forces driving US spot up usually cause the AUD up, thus silver stays steady in Oz. Vice versa also applies. My scare is that the Yankee dollar collapses and the Aussie dollar doubles.
The US spot price is a joke. I watched it go below 16 twice this week and then back up over 16. I am becoming a true believer that its not market forces or the dollar controlling silver price movement any longer. We just have to hold on and wait till that moment when the invisible force says 15.00 is my command. Oh yeah and the AUD goes below 20.
You are right. Spot price is a joke. The REAL determining factor is premiums. Which have been out of control lately - making me believe silver is getting ready for a big rally. (Just like in 2008 when premiums were huge before the big run up) Sure it may drop another $1 or $2 usd in spot price...but the premiums will be $5 and $6. (Not any cheaper than today) My thoughts are to just keep stacking while trying to find the best dollar cost average on your holdings.
Bought some yesterday arvo at the low - not because I know anything about technical analysis. Just luck. Was going to buy a very significant amount today...jumps 2%. Anything happen over the last 18hours to cause this?
No solution for Greece yet.So price is a bit higher.EU needs now to find a real plan for Greece.I still expect some plan but outcome is worsening i am afraid.Bail-in possible.I can still not imagine that Greece leaves the Euro or EU.If Greece goes bankrupt silver and gold prices will rice.But that is living in a new Europe with possible Russian fleet in the South of Europa.Worst case scenario.If ECB stopt with helping Greek banks they will fall next week.In that case silver will aalso rise.It's a real poker game now in Europe.If they don't help Greece next 10 day EU border in the South will fall,banks will cerainly fall.Does the EU really will take that chance.I don't think.Otherwise things willnever be the same,Greece people wiil leave yhe country with tenthousands.Portugal,Spain and Italie are in the same boat.If that should happen silver will rise a lot.You cab see a real bankrun in little Greece now.If Greece falls bankruns will certainly start up in Portugal,Spain,Italie maybee Ireland and Belgium.People are not so happy anymore with the banks sinds the bail in from Cyprus.It was said that Cyprus was a blueprint for other euro countries.If Greece fall lot of European wil buy same more gold and silver.
Also - US tanks moving to Russia/Ukraine border w/ Nato's help. Will be interesting to see if Russia tries anything.
Well it looks like it has but how long will it stay at this level? Will it continue to drop or should we expect a massive rise?
There's no rhyme or reason for this drop as far as I can tell so who knows. 6%+ in silver is a big big move. If this is one big move by a couple players it's going to send the GATA guys mental.
I doubt it'll stay under AUD$20 for long. Any drop in the AUD will kill it. November last year was the gravy train time to get in. Little chance of reaching that again unless the AUD goes on a stampede.
