Hi All. This is my first proper post. Just wondering about the future. You would have to assume that the $US 50 price mark is going to be a huge psychological hurdle for the silver price. The historical significance of the price could result in a significant pull back when or if we get the $US 50. Does any one have any plans for this price? Ride it out? Sell a bit and buy in when the price is down? I'm not sure if I'm savvy enough to try anything but sit on my hands and watch the market play out, but this could be a good opportunity to come out of it with a few extra ounces. Or could silver just burst through the $50 mark with no regard for history?
You're right - huge psychological barrier. even approaching it will be a case for resistance. I think a lot of sales will occur in the high 40's owing to either nervousness or people just plain cashing out. But these will be the actions of those who think that silver is rising, rather than those who see it as the dollar falling. If selling is perceived as swapping for a falling commodity, then I think the $50 barrier becomes immaterial. BTW, welcome Greenleaves!
On a more broad topic. Is anyone in the business of selling portions of their stack at certain price points? It seems like most of us are buy, buy, buy at all costs with the only exception being needing quick money for car repairs, bills, emergency etc.
If silver hits $50 BIG SILVER PARTY MY PLACE ...there will be woman in silver bikini...wine and beer silver served in big silver mugs..and I,ll even uses my kookaburra's as coasters...
Nothing much will change but it will feel pretty satisfying! I'll continue to ask myself why I never knew about Silver years earlier and will be even more worried and unsure than now about when to sell. Yes the fundamentals are there for $100 Silver, but it's still scary when you're in my position, a person who has never been rich or even in a equal position than most average people, and who is "all in" in silver. If things go well with Silver it could be my time to Shine! Regardless.... it makes things interesting at least
Thanks for the welcome Silvertongue. I suppose as long as the western world's reserve banks keep printing that fiat like there is no tomorrow, psychological barriers can only provide so much resistance. Despite this, $50 will probably be the biggest price barrier on silver's ride up, and knowing the likely actions of the weaker hands, it is a chance to increase the stack without spending a cent.
Yep, by more. Hopefully I'd have my core position set by that point. At this rate of rise, this may be a challenge!
$50/oz silver is still only $1600 per kilo... I'll still be buying hummers off Aurora then... Although $2000/kilo ($62/oz) means a long time between drinks for me, purchacing wise. Hopefully by then that last run of Dragons will be out of the Perth Mint gates and I'll be done stackin!
I usually don't take coasters home with me, but.................................................................... $50 is just a fiat measurement of silver or gold. I will use ratio analysis to determine when to swap silver for other real things. When the time arrives to sell silver or gold, it is likely that pms will not be measured in $USD.
Good point. For the next 12 months, there is still a reasonable chance that it still be USD$. 24 months down the track, it is anyones guess (possibly the new Amero?).
