Just crossed over $US30 an oz and $A29.50. Seems the talk of a imminent crash in precious metals is a little premature.....
Tell me about it, everyone was forecasting doom and gloom regarding silver. I'm new to the silver game but I've learned to just sit back and enjoy the show; I have a feeling this is gonna be a bumpy ride :lol:
I didn't predict that. I predicted silver would do what it always does, bounces around like a roller coaster. As said, you just hang on for the ride.
A spike at the same that time that China raises interest rates, I guess people are waking up to the fact inflation is a reality.
Oh what I meant was all the headlines were implying that the dip that we had was supposed to be worse. Experienced stackers like yourself know that we have to just ride it out.
It will be very interesting to see if it stays above 30 for a while......what will be next up or back down?
seems to hit $30 and bounce off... I'm not yet where i would like to be with my stack so i'm hoping for a downturn... funny investing in something and hoping the price will go down
When the majority of the country earns just $2 a day, it doesn't take much to see the effects inflation. I reckon food prices will be the biggest indicator for most folks of that region.
Great to see it close above $30 for NY spot lets see if will stay above $30 for 4 to 6 days. If so I think we could see a good rally to $40 ??? If we see any double digit gains in a day... hang on for a GREAT ride to ? $$$$$ ... but don't be shocked if we see a BIG drop... after the gains. I don't expect to see it below $26 again. I am glad I made several purchases over the weekend.
Why Some people looking to sell when it hits over $30.00? otherwise whats the rush, just makes it harder to build a decent stack for us late bloomers. Noticed when the prices dropped it became harder to get my hands on some at a relative price to the drop but i bet once it go's up their will suddenly be more availible around the traps. Funny how that works!
Considering that even on the dip to $26 most over counter dealers in Sydney were still selling at $38+ for singles, I don't think it really matters. Silver spot moves around so crazy I think the majors just pick a wide margin between spot and selling price and stick there until Spot approaches that price and then they move it again. ie if spot is moving between $26 and $31, your singles are still $38+ no matter what spot is on the day. Especially now where dealers are buying in bulk to meet demand, spot really can screw with margins on resale. Further proof IMHO of the disconnect between spot and physical prices.
I hope it stays down! JP Morgan is doing me a favour. I no in time it will explode, but the cheaper it stays and the longer it stays like that, the better it will be for young blokes like me
Thats why in this day and age its better buying from dealers that probably have a computer type system that moves as the market moves so their prices are more live. There are a few around so these will probably get you closer to a better deal and also I guess buy bigger otherwise spot doesnt really mean much. This is also proof that there are actually two markets, spot/comex are all future markets, ie markets for future contracts, not physical silver, there really shouldnt be much of a surprise at the difference. Our purchasing over the counter is the REAL physical market (and when sony or samsung or hitachi do the same in bulk) , the comex and all these other places is the place where people sell contracts to hedge their profits and businesses. Its a very important differentiation i think.
