There appears to be many more newbies coming through than i have noticed before. If i am correct about a rush of new members then i see prices coming DEFINITELY hitting the $10.5- $11 USD mark. Those of you who like crushing failed predictions (like me then book mark this one. Between Oct 23rd and Nov 8th i see these prices coming to fruition and i do not think they will be heading back up in a hurry.
I am a bit bored atm.....lets wager it for fun 2x 2015 1oz koala silver coin (in mint condition). If the silver price not hitting USD$10.50 - USD$11 between 23/10/15 to 08/11/15, I win. I will give you 24hours to reply [LD]
I am a fairly new member here. I lurked for awhile and then finally saw a post that i felt compelled to comment on. It has been an enjoyable experience thus far. With that being said i started getting into stacking when the spot for silver was at 37$ us coming off of the 2011 highs. I was really jealous when a buddy of mine said he had bought a bunch at 14$ and sold at the high. Well, here were are at that price point. I'm trying to back up the truck as often as possible, not caring if the spot goes lower because i look at it as a buying opportunity. Now that i've bought at this price i would be loath to buy in the mid 20's or higher yet, but i have a feeling that whatever sent the prices higher will no doubt happen again because the debt piled up by our governments are worse now and i don't see any fixes coming anytime soon. Assuming the spot price is tied into fiat strength and government dept for better or worse.
If one judges future strength of the PM market by sentiment, it is rock bottom right now. When you have large amounts of folks on PM-friendly sites who are bearish and not wanting to buy when silver is at a 5 year low, that is weak sentiment. If you go on mainstream financial sites, gold is being trashed to the extent that some writer recently referred to it as like the "pet rock" from the 70's. I guess 5000 years of being valuable is not important now that we are all so smart and have the internet, cell phones, world-wide socialism (let's all spend money of others and money that doesn't exist), etc. Why keep PM's when you can have debt, currency backed by promises from fundamentally bankrupt countries, invisible cyber currencies that can be stolen with the push of a button, etc, (am I leaving anything out?). PS With silver at $14 count me in as a bull, pumper, kool-aid drinker, whatever you want to call me. We'll see who's right in the end. Just my opinion. Jim
When I was living in North America, any time you heard an ad for a financial product that ad would end with a disclaimer of "Past performance is not necessarily indicative of future results". It seems like pretty solid advice to me. I don't doubt that gold will continue to be valuable to varying degrees in the future, but I just don't see it as being the be all and the end all of things to own. There are lots of other things that you can invest in and own physically that will provide you with a return while gold and silver for the most part just sort of sit there looking pretty.
To add to that...I find it really interesting most Americans don't even know the price values on gold & silver. (Different countries have a diff % of people who are into physical PMs) China for instance, is a country whose people love it. Those videos by Mark Dice are a great example showing how people are oblivious to PM's here in the US. The world all values it differently...oh, and by the way... https://en.wikipedia.org/wiki/Gold_fixing
"To add to that...I find it really interesting most Americans don't even know the price values on gold & silver." I don't have a single friend or family member who collects metals. If I show any of them a 1oz coin they think it's pretty but they would never give me a dollar for it.
That's sound reasoning. It can always go lower, but at $14 USD, it's definitely a buying opportunity. Of course it can go lower, but when you try to "ride the wave" you often get crushed. If anyone can predict a silver run, and put their money where there mouth is, they're better than me.
My entire family, for the past 3 generations, have been collecting PM's. My grandfather was really into Gold. I'd go to his house in the 1970's and play with his coins. I loved them then, love them now. That being said, I'd say a majority of Americans don't really spend money on PM's, unfortunately.
Other than places like India, China, etc, what countries exist where the populace in general buys PMs now? I don't know of any but I am sure a few exist. It is probably not an easy purchase when some places have high taxes and such on PM purchases, which are probably designed to dissuade folks from buying them in the first place. Always remember, the sheep will like PM's when the price is bursting upwards, like they did in 2011. I would imagine that the same folks hating PM's now were loving them at 1800 and 40. Just my opinion. Jim
For the past four years, stackers have been a reliable contrarian indicator. If you visit any large online dealers' site and read some customer reviews, you will find out most reviews were written in 2011~2012 exactly when silver price was at the top. Recently, I start to see a surge of reviewers posting their opinions to online dealers' site. I am deeply worried that we might see US$8 silver spot in the long run.
What about from 2001 to 2011, when silver went from $4 to near $50? Can you tell us what the contrarian indicators were then? How about this as a contrarian indicator, back in 1999-2002, when England sold off half of its gold at the bottom of the market? How does that figure in to your analysis? Jim
I remember seeing the video of Mark Dice where he was asking people on a board walk if they could guess the spot price of a 1oz gold coin in his hand. I believe he even gave them a 20% deviation. A few people had flat out refused to even guess. I think the closest guy had said 100$. I was yelling 1250$ at my the computer screen because i knew the spot was right around there when i watched the video. Was wishing he had come across me that day. I guess this is a good example of the ignorance of the general population when it comes to pm's. I actually am happy about this because when a plurality of people start to see metals as a means to protect some of their fiat, we will all suffer due to lack of inventory from our favorite bullion sites and local shows. I was reading the US mint had run out because people in Greece, Ireland and Spain were starting to buy it up. Not sure how much truth there was to that though.
I wouldn't put much into what the "man on the street" thinks of PM's here in the US, other than to consider it a good contrarian indicator that the average joe is clueless. I recently saw a video taken on a college campus and none of them who were questioned on the video could even name the vice president of the US! All but one could not even answer who won the "civil war", and these are college kids. So when average americans don't know PM's value that makes perfect sense. (see below link for amusement- and to show just how screwed we are here in the US with these clowns as our future leaders, etc.). As far as ASE's, I don't believe that foreign demand is what is causing demand. It doesn't take much domestic cash via PM bugs to clean out local stores. This often happens on sudden price drops especially when certain support levels fall. https://www.breitbartunmasked.com/2...ech-students-dont-know-who-won-the-civil-war/ Just my opinion. Jim
ALL commodities are being hit hard. Mining stocks have been crippled....yet...the spot prices for PMs aren't as extreme in losses...........yet.
