Speaking of apmex I've noticed they've really jacked up the premiums on everything right now. So have a couple of other US dealers. Lucky Aussie dealers haven't done the same.
Why is it a warning? $12us silver is a good outcome compared to what many are going to loose in the very near future GFC
I have never purchased paper silver (allocated or unallocated - I'm one of those silverbugs who believes in the motto "If you don't hold it you don't own it") so I actually don't know if there is a direct correlation between the SLV share price for example, and the spot price of physical silver. In other words, does a $10 price of SLV always translate to $X spot price of silver? .
It's not a 1:1 correlation but it follows spot price very closely. For instance, Friday's close was $13.92 USD for SLV. Spot was at $14.66 USD. So paper can be lower or higher depending on trading. The main thing though, is you own your physical silver at around the current spot price +/- premium. If spot drops and premiums increase, keeping the actual cost of silver the same, then that's when I'll buy SLV. 1oz physical might still cost $14-19USD with premiums but 1 share SLV similar to 1oz might cost $8-10, as I don't anticipate silver to go to 0, i will buy paper instead of physical. I'm still protected by the physical silver in hand, but if there's any rebound, when the premium drops and spot increases I'm making money on the way up until it hits the equalibrium again. If there is a rush in spot, you make money up both avenues. Sell the paper to buy the physical. Of course though this is just the budget for metals. Depending how the rest of the market is doing, I am planning on picking up some other dividend paying stocks at discount if there is a crash. As much as people don't like corporate. People rely on corporations for just about everything. The good ones will last. I'm also looking at fractional bitcoins on dips. Because investment budget is only X, it gets split up by several things. Because realistically, how preppared is anyone for everything? The market will not fail and we will not go into anarchy. I'm a believe in the motto "make your money work for you, don't just work for your money", in the us the taxes are cheaper too for those type of capital gains. I don't have my cash under my mattress and don't hold it, but there are different styles to achieve the same thing. And anyone can become a master at their strategy/technique if they are good at it and practice. Market lows are when I try to put my money in the sweat shop and get to work! Can't time it perfectly, but hey.. these things take time anyways.
Good strategy Silverpv. Silver's downtrend has been very strong; with heavy volume traded right above the overhead resistance. It will take heck a lot of efforts to break above the upper Black line with volume; and before that happen, I am just going to wait and see.
One more thing to notice, MA20 and MA50 are both firmly trending downwards; they're moving averages and, before they even turn flat, any bet for a trend reversal is just unrealistic.
If a new GFC happens how will "good corporations" last if interest rates cant go lower and there is no money to dish out to those good corporations in stimulus? I have notice just of late that Australia has a lot more North Americans living here,I suppose its easier than learning Swedish?
You are not factoring in the accumulated management fees that have been deducted from SLV each month. As per their website https://www.ishares.com/us/products/239855/ishares-silver-trust-fund SLV's "NAV per SLV in Silver as of 28-Aug-2015 95.44%", so $14.66 x 0.9544 = $13.99 which is very close to $13.92 and probably closer if you were exactly timing spot to second the close price was set.
Unallocated has its place; it cuts fees and insurance in an SMSF, for example. There is always* (unless there is a zombie apocalypse) the option of turning it into bars unless you have picked a business that goes under at eh whiff of disaster...
Bron, thanks for the correction. Every crash/crisis there are survivors and or new players. I expect the same with the next crisis. And yes, there are more North Americans down under, which is why I'm getting friendly with you guys. Just incase I have to move down there or Singapore!
Do you know just how much your gov gave Australia pre payment for re population "in the unlikely event" Its all on record and no secret!
Not that I really care but please refresh my mind, what was the purpose again of attempting TA in this manipulated so called market ?
I don't have a problem with this. I'm new at buying pm so the cheaper I can purchase it the more I can buy and the happier I will be. It will always go back up in price sooner or later
Probably it is the right time to forget about silver for five to six months. More likely than not, you will be shocked how low price could go; when you come back to the market.
