NZ Herald - http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10796920 More at link but I'll give you the executive summary - BLA BLA BLA + negative words on top of other negative words. Seriously. The article is chock full of negative connotations. Suggesting that a rising spot price is like your blood pressure rising. What the turtle? Yet when the cost of shelter rises (house prices) that's awesome?
Yep, have never seen so much bulk selling going on this site... It's weird, like people think it's going to drop heaps more.
Concerning the article......ha ha ha ha ha ha........comedy festival material. Concerning the amount of sales....its great isn't it! I wonder if the bulk sales will continue if spot drops another 10%........or more......I hope so!!!! Apparently the fiat train crash has repaired itself and the bullet speed train to recovery is well on it way.....I should have been a stand up comedian.
I don't think it's going to drop heaps more... unfortunately... i just need the money. You want o buy some silver or gold bars, lunars or kooks?
By the power of Grey Skull I wish I had a stockpile of fiat for these buying opportunities but I'm not one to be able to pick the dips so I dollar cost average FTW. What's the contrarian investment maxim? Be greedy when others are fearful and fearful when others are greedy? Just think about when Silver was approaching it's all time fiat high and how everyone wanted to buy now for fear of being priced out forever
I'd be a very happy chap if these prices went nowhere for 2 months - then i can restock. But alas, i think 'tis unlikely
Traders buy and sell regardless of charts. People preserving wealth ignore rigged and fixed markets, holding faith that their money is safe for the next 5,000 years, just like the last.
I'd say being a contrarian is likely to lose someone a whole lotta fiat/PMs/assets if they don't get it quite right. Imagine being a contrarian in 1930. "Ah-ha! Market crashed! It's time to buy!" So i think it depends why the blood is running in the streets, how f'd up the entire system is, and how likely it is that the assets you buy will gain value again. Bear Stearns and Lehman were selling real cheap at one point I believe. Anecdotally, I had a friend who, thinking along these lines, was pretty keen to get into Centro shares when they took a tumble around GFC time. What fundamentals did Centro have going for it that was going to make it post double digit growth gains in the future? None. So I think the unsaid part of that quote would also include something about the underlying future earnings value of such assets. In silver's case, it's ability to achieve capital gains over a defined period for whichever economic reason.
I think the price of silver and gold will recover quite quick. Too much metal around at the moment but not enough funds (in my pocket anyway)
Article referenced in OP sounds like it was written by the ad wizards at the US Federal Reserve. Such propaganda is a grand jedi mind trick.
I was thinking about this tonight. There seems to be so many "dealers" on SS these days. So much more than when I joined up. Everyone seems to be trying to flip coins/bars and then dropping the price because they dont sell in 10 minutes. I think as silver bounces around the $30-$32 level (silver) and the $1550 - $1630 (gold) people feel safe trading. When/if we see silver start to climb again I think you'll see the selling slow because people will realize that if they sell their coins/bars - they will have to pay extra $$ to replace them as the next dip wont be anywhere near their previous selling price. We saw this last time silver prices ramped up from the mid 20s to the mid to high 30s then into the 40s. Enjoy the easy pickings while they last. I know I am. malachii
Central banks were dumping gold at lows.... they got that one right and what have they been doing lately??
It's happened at Easter before. Either a big rise up or down.. All the players then can sit back for four days and not take advantage of the situation. As you can see I don't trust the big players! Regards Errol 43
Too right. So much stuff I want to buy on here at the moment but unfortunately I was dumb and locked last months pay away somewhere I can't get it. Gotta wait till next pay to have some funds to buy PMs. Getting paid only monthly sucks!
FWIW, looks like Apmex sold more 10ozt gold bars in the last ~24 hours than they have in any 24 hour period since I started tracking their online inventory back in December. Sales volume of 100ozt silver bars similarly saw a huge volume (biggest since January 25).
