Always try to buy the dips Sammy. It all depends on what you think the FOMC announcment will be, and also if you believe the geopolitical events of the last week will have any major impact on the price of oil and thus metals.
I'm too dumb to try an extrapolate what is happening around the world at any one time. All I know is the secure feeling of a wall of silver between myself and the world.
Yep..Sentiment is pretty bad. And it may get worse, who knows ? I'm not expecting anything to happen for a while as the cartel play out their end game. Anyway, Wall St ponzi still has to keep spinning the wheel of fortune waiting for the Fed to jack up rates ( If they had the balls they would. Something Yellen will never have, and clearly Bernanke was born with none either ).
Dip is not a bad bet: I got out two weeks ago as I sensed it was coming. Could be more short term dip, but who knows. But I thought gold would hold, but it didn't. It hasn't been this cheap since Aug 2009, so long term this is most certainly in the dip.
It's not just silver that's down, most commodities are down and I believe it's because the dollar has gained some strength again. It's definitely time that I stop stacking crappy metals and switch to stacking superior dollars.... NOT! .
The lower it goes the more I shall just sit back and pick off the cheap coins that people desperately try and sell. Things will switch around again... maybe not now, 5 or even 10 years time but it will happen. Physical metals sitting there can never be a bad thing. I'd only have wasted the money on something worthless anyway.
In 2,000 years when the price of silver will finally go north, that will be the time to sell. Silver to da moon by October 4015! .
I just do not have a idea where the POS is heading so made a purchase today and will wait to see what happens now.
Chinese economy down. European investment...there must be some who may put their dollars elesewhere...example into the US. Yellen, will / will-not increase interest rates...most likely not - (Europe / Paris is a good excuse). Stronger USD = Lower metal prices in USD..."For Now".
Buy the dip I say but...it's gotta go past the levels (In AUD) during Nov 2014. Wishful thinking I know but.............
Based on the movements from the inflation numbers and the reaction of the market immediately after, I think we are approaching a very firm support level. Overall trend is certainly still down but I believe the market is starting to see the short-term oversold value. For me, the rise in AUD is also helping, so I have taken a position in allocated this morning and will buy into any price plateau that forms. Agreed in the short/medium term. Yellen needs to start a market normalisation by raising but who knows what will actually happen? Can the USD continue to rise against other currencies if a rate rise pushes their domestic economy into recession? FOMC going for a raise should present a buying opportunity for most, particularly those denominated in USD. I fear that anyone on crossrates will not get much benefit of XAG drops as the USD rises.
Depending on how Australia is seen, (As a safe haven from extremism????) we could see a rally in the AUD regardless of poor commodity prices. I'm betting the AUD could rallt to above 73 short term and if metal stays at or below current (USD) prices it could be a buying opp for Aussies. Having said that, I'm keeping a close eye and will be keeping powder dry as a contingency plan. If it comes off...so be it...if it doesn't..............
Assuming there is a change in general sentiment, there could be a short-term rise in the AUD but I think the likelihood of that is on the lower side. We would be needing to see a rise in fundamentals for anything to maintain that rise - Monetary Policy, rises in commodity prices - especially in Iron Ore and Coal, and general market movements. Depends on what you position is like. I have been holding off for a while looking for sub $20 spot. I was able to jump in at $20.92/oz into my allocated account this morning which I was happy with, especially as the daily losses are flattening out and I think we might start going back up this week at some point.
