Looking at the charts from 2008-2009 and current action it feels like we will see quite a bit more drop in price. Gold/Silver ratio also points to a similar action. Suggestions of a GSR move up to around 114 (perhaps quite a quick spike) aligns with this as well imho. As the stock market falls rapidly there are substantial margin calls. This leads investors to sell off what they have and precious metals form part of that. Investors also tend to flood into the USD in times of crisis which also puts pressure in the price of PM's. Putting all this together makes me think we will see a price drop for silver down to at least $22 AUD and perhaps heading to $15. I don't think this will last for long (again referring to 2008/2009). This could all happen between now and say June/July? Interested in others thoughts.
Silver's price action just feels really weak compared to gold. I'm with @toyko with the ratio going to 1:110+
Gold is getting weak also. A drop below 1640 usd is bearish. If it can’t rally out of this zone, gold could be in the 1500’s soon.
24 hours later and we now have gold in the 1500 usd range and silver in the 15 usd range. Hmmm. The weakening aud $ should keep gold in the 2400 range. Let’s see what the morning brings. Wash your hands!
Speculative deflation. Likely peaking around 120:1 before gold hits the psychological threshold and the poor man’s gold looks better than a few specks for your hard-earned. There’s a bit to go before full depression mode. I would just be getting ounces right now
I won't be waiting, will get my last batch of silver this weekend and then hang on the the ride. I don't doubt we may even see 150:1 GSR. I will pray for 60-70:1 and then convert back to gold. Reckon it'll take two years at least.
As I said earlier I don’t think you will have to wait long. It will be a quick dip imho. It could go quite a bit lower but that may be very short term.
With a 33% drop in the stock market over 17 trading days (ASX200, but similar in the states) there can't be many margins left to call-in!
Yes you are quite right of course. Although I would venture that with the level of selling that I imagine is happening due to margin calls and general requirements for cash - that once that sell off reduces then the downward pressure will be released. But let’s see. History is only a guide not a prediction.
People seem to unquestionably believe the furphy that gold automatically rises when times get tough. It's a dangerous idea to be trapped by. https://www.thetechnicaltraders.com...en-only-4-times-since-2008-signature-pattern/
Silver almost always dips this time of year even with out stock market problems. So for many people who know that it isnt coming to much of a surprise it is dipping in march but obviously if its not being used in production due to industry being put on hold in the likes of china,so that will take a toll on the prices short term, the thing thats is over looked here at some point manufacturing will return again and china will open again, so at that point there will be an instant demand for silver especially if industry opens up all at once when china lifts its quarantine. but if you want to freak out and sell, go ahead. lol
