If I look at the amount silver futures contracts on Comex, it is fluctuating between a 10 and a 4 years low, which means that the current silver price range is backed by physical buying. My opinion is that people that bought real silver, stackers, won't sell easily at current price range, and that includes me. Besides that, todays price is backed by dollarcreation since september 2008. Do the silver price from then * the dollarcreation and you gret $32.5. Silver was mostly bought in the monetary role since 2008, so silver is competing with the dollar, so the amount created dollars is the direct competition with the silver price. That amount dollars, aka monetary base, did never drop seriously, in the entire history. It just kept on rising, for a simple reason: a substantial drop would mean that the banking system and the government/public sector and all its derivates would have mass-defaulted. So, IF the monetary base would collapse in a similar degree as the uptrend, nearly all bank accounts would be lost too. And it's exactly because of that I swapped mine for a silver stack.
after buying a couple thousand dollars worth of silver at $46 an ounce i decided to wait it out half a year to see if my silver investment has gone up so i can sell and make some profit, I just checked prices today and silver is at $29/oz , FML , why does god hate me
Bloody hell I was another maniac that purchased several thousand dollars worth at about $45 an ounce I think it was but it ended up being around $39 an ounce as we purchased lots off kg's of it. I don't know for sure as I blocked it out of my head when the prices started falling pretty much straight away!!! I seriously hope the price goes up lots but not before I stack our superfund. Does anyone think the price will plummet further this year as I have lots to buy for our super yet. Just had a look and I could have purchased another 2kilos if I had of waited until today
Yeah hang in there bro. All super controlled by a fund manager would have to be suspect nowdays. At least physical in the hand must have a 50/50 chance. I reckon your safe.
If you have other investments that have made a profit, then just before the EOFY, you could sell some of your silver (at a loss), so that you either pay ATO less or nothing on your investments. If you don't have other investments, then just forget about the silver "loss". It will come back in time.
Bad way to invest mate, sorry to say. Having said that at least you didn't panic sell, I think by years end you should be ok.
Who is the fool now? http://profitimes.com/free-articles/silver-45-48-is-our-target-for-the-next-couple-of-weeks/ http://profitimes.com/free-articles/silver-2006-vs-silver-today-does-it-look-familiar/ Combine that with the article "Did the silver bubble burst", and decide for yourself.
Some people can do some really stupid things with charts... Not saying silver may not drop further - but it won't be because the chart looks like the nasdaq chart The fundamentals always assert themselves in the end The nasdaq bubble was full of companies valued at billions that didn't make any money and never would - they were fundamentally worth nothing. The fundamentals of silver in the long run will be based on how much it costs to get it out of the ground. That will be the floor price. If something drops lower than miners can mine it they stop mining it and the price goes back up again. If we hit a period of high inflation, that 'get it out of the ground' price will rise with inflation - with the price of oil, materials, labour etc.
I hope for now that it does follow the chart above, which implies that we will have to pierce $26...which I think will be a tough cookie given what happened last few days.
this guy was on the money look at whwew sil\ver is now ( $22 AUD -- basically in the toilet ) lol @ the ppl in this thread who bought @ high 30;s low 40's talking about it going up from there lol lol lol bull trap indeed idoipts saying back the truck up more like back up soo bubba can ravage you from behind hahahhahahahahha lol
No... have a closer look at the current charts, it ALREADY DID make it back to $36, then $35 in Feb & Sep '12! (two spikes) Then, have a look at the responses to the original chart posting on this thread. :lol:
It is an interesting comparison. I've seen lots of parallel-running graphs... Worth taking account of. However, we must concentrate on current factors. It is rumoured that ETF buyings are up for gold, not sure if for silver too. I have to global stats right here right now... The paper makes it move more than the physical during these times... Otherwise, it has plenty of space for going down to 15 $, 10 $... maybe less...
