Just back from the Perth Mint. All booths full and at least 12 people in line. All of the three people in front of me were buying over 5K and had to wait for the booths. I however got personal service at the counter :/. Well at least I didn't have to wait. There might be a crash going on but it's certainly not in demand!
Who are all these people buying silver at a time when the price is collapsing? What do they know? I expect this when it goes to da moon but if half the silver stackers are having second thoughts, who the hell are these people? They aren't the shadowy manipulators because I am sure they don't stand in line at the Perth Mint. It isn't old people who remember the great depression because they have sold all their old silver and gold at the buyers conventions advertised in the two page spreads in the papers and held at RSLs across the country. Is there a money off voucher in the Perth Gazette or something?
^ Well I bought today. What do I know? Nothing. But I think these recent waterfall drops in spot are unwarranted, as nothing in the global economy is sorted yet. So I buy.
In that case I will hold off until my usual Friday purchase, I also think it will go down again, even though the prices are going up quick BTFD BTFD BTFD!
I bought today and expect to buy tomorrow. My guess is that we are bottoming out and will start to climb once all physical has been bought up. I reckon they'll be quoting spot plus premium to differentiate from paper silver. Two different paradigms. One to the moon, the other to the furnace.
They are people who want to build a precious metals portfolio, who ignore noise (this mini-crash) in favour of signal, and who are looking at the mid to long term economic indicators. They have just has a large windfall drop into their laps - Cheap gold and dirt cheap silver and they are backing up their Hummers.
Well that makes sense but are they new people coming into the market or people already in the market wanting to get even more? I already have a precious metal portfolio so I know why I am buying but you don't just open up a paper, see that gold is in free fall and say to yourself, I'm going to have me some of that, I'm taking the day off and heading to that Perth Mint place all the kids are talking about. It just seems that the price took a nosedive and buyers just appeared out of the woodwork. Did people suddenly learn to care about fiat, QE, Cyprus, EU Bailouts? These have been happenning for a while, long term economic indicators have also been around for a while. A perfect storm of events and price? It just seems that the people who are normally "back the truck up and to da moon" are having second thoughts and people who wouldn't normally be interested are jumping all over it. Maybe they just don't have the benefit of all our background reading and due diligence and don't realise that it could go lower, maybe they are happy with the price as it is and don't want to squeeze an extra few dollars out of it.
There are likely many thousands of people who never post on places like this, who have an accumulation plan and a long term view and they are just taking advantage of a price windfall. But then who knows?
People in Australia who stack bullion but don't post on here... I guess it could happen I told my wife that the prices were crashing and she told me it was a good time to buy, I just never know what she will say next.
People in Australia who stack bullion but don't post on here... I guess it could happen smile I believe a significant number of investors and collectors interested in bullion and or exposed to bullion's last bull run aka early 80's don't frequent the internet or have limited exposure to computers in general
I was not going to buy anything til I saw a clear change in direction but at the price offered it was too good to pass up even if spot fell.
