So now that debt ceiling issue has temporarily subsided.. and PM have fell over the past few days.. and AUD is gaining strength again. Why the sudden jump?? +55c on silver as I type this.
ow yeah sorry about that, i did my big yearly purchase, and the market would have felt it. it should correct its self soon though. i should warn you guys when im about to do stuff like that so you dont think there is a run. my bad.
There was a nice dip in the gold price in Aussie dollars if you were buying. Now gold is back up to AU$1380 territory.
Aussie dollar heading up toward 97c U.S I see.. Time to start buying some items on my wishlist from Amazon in U.S. while it is up. Crunch time again in Feb. How many more times can they 'kick the can'? Why does gold head in the opposite direction (down) in 'crisis' times? Doesn't make sense.
:lol: Funny, but that could boost the silver consumption. But if ETF's are up, then that explains it all... :|
Silver was 8-9% cheaper about two weeks ago @21.50ish. I was holding out for $21, might have missed the boat...
And I have been waiting to buy because everyone is saying "not at the bottom yet" lol Soon it will be "missed the boat, really thought it was going to go lower"
Because some ordered some silver and the money for nothing temporary/futures club then orders 2-3 times that amount, althus amplifying every price move. So if you see jumps, without very good reasons (your bank going bankrupt / store prices doubling) you better not jump with it.
I like Pirocco's call on this, and I'll throw out some thoughts on pricing and buying in general, though I don't have any answers as to any specific price movements. First, on pricing, if you tend to look at pricing in AUD, please remember that - like a shrinking part of the world, precious metals are priced in USD initially, and converted to the currency of your choice - so you're looking at the effects of not only movement in the price of your precious metal, but movement in the relative trading of USD to AUD, this can sometimes reduce or enhance price movements. A second factor to consider - and I believe this is far more important - is why you're stacking in the first place? There are many and varied reasons for people to stack precious metals, I don't propose to know or understand them all (obviously, my view is coloured due to my own personal reasons for stacking), but let's take a look at some reasons: If you're of the belief that fiat currencies are going to hell in a handbasket, and you're looking to hold some of your wealth in commodities that will retain some "real world" value after this currency collapse, I don't think one should necessarily be concerned at small price movements. Nor should one necessarily be concerned at the fiat value of one's stack. Ideally, you've taken a look at some historical information, perhaps the number of ounces of gold and silver required to purchase a house, or other assets of real value, and have in mind a number of ounces of the various metal types you would like to see in your stack as a minimum. Of course, more is always welcome, but you will have a base target to aim for. As it's unlikely that you're going to be aiming to swap your precious metal for currency any time, the price now simply dictates how many ounces you can buy at any given time. This can be a somewhat refreshing way to look at precious metals, because of the diminished importance of price, and whilst you try to aim at not buying the peaks, missing the dip by a few pennies tends to lose importance in the big picture. If you're not so sure that fiat currencies will fail, you're perhaps looking for an inflation hedge, or diversifying your investments. Again, in the longer term small price movements tend to be relatively insignificant, impacting only on whether you might be able to buy 105 ounces as opposed to 100 as an example. Yes, over time, those small lots of 5 ounces will add up, and will be slightly significant, but the more important aspect is that you were able to buy the 100 ounces - focus on that as opposed to the "missed" 5 ounces - you will still be far better off that the chap who bought nothing. Price in this scenario is of somewhat greater importance, but more so I believe that the price trend - price over a long period of time - is much more so. If neither of the above apply, perhaps you're in this for the numismatic aspect - you're aiming to buy nice coins of limited mintage, in very good or proof condition, and perhaps you're taking a "best of both worlds" approach, combining the inherent value of the precious metals in the coin as a "hedge" type position whilst looking at the collectability premium as an important aspect of your stack. In this case, movement in the spot price is automatically diminished to a degree, as numismatics tend to find the greater aspect of their price from the "premium" side of the equation as opposed to the "bullion" side. Again, movement in spot will have an effect on what you're buying and selling, but small movements in the spot price tend not to change the price of your selling much, and have little to not effect on purchasing. Look again toward the price trend, which we all hope is moving upward.
