At least not by much. When I pulled up SS today I noticed silver was down .27 and gold down 27. I'm waiting (and hoping) for gold to drop to a grand before I make my first gold purchase. So if gold and silver keep dropping at a similar rate together silver will be a little over $14 at the time gold is $1000 and the GSR will still be just over 70. Of course I have no reason to believe this WILL happen but if it did it would be great news for all of us. Cheaper gold, if you want to get into that, but still a high GSR (and lower price) to keep stacking silver if you'd rather wait to swap it for gold later (or just keep the silver).
Umm the GSR has still been going up and down .27 in silver isn't the same as $27 in gold. According to XE today it opened at 74.04 peaked at 74.86 and is currently at 73.49. So no if it continues to fall this way it won't stay the same. Maybe it will be 70 when it hits $1,000. But as a random guess I'd be willing to give you 10:1 that it won't be 70 when it hits $1,000 who knows, it just might be
Yeah I know those numbers don't necessarily correlate to each other, but I just used those numbers for some quick math, and maybe I calculated it wrong but I came up with 71 GSR which is pretty close to 74. I'll show my work. How many times does gold have to drop by (let's do 25 this time) to reach 1000? Starting at 1170, between 6-7 (1170-6.5x25=1007) So if you do the same 6.5x.27 and subtract that from current silver price you come up with 14.14. Rounding them before dividing 1000/14=71.4 My arithmetic might be kind of messy but going off this if the prices keep dropping at similar rates to this example the GSR wouldn't change much at all. This also brings up the question of where gold will be if silver drops to the hypothetical $13 that I've seen on the forum. Let's say gold does drop a little, but not much. If it's at $1100 and silver reaches $13 that would bring the GSR up to 84. I know that's not too crazy, it's happened before but isn't it more likely that gold will follow (assuming silver does go that low)? Although I think it's silver that's supposed to follow gold hehe but silver is more volatile. I dunno, I'm still new to all this. I'm just trying to come up with my own hypothetical predictions for fun
Ok. I see your logic, but unfortunately I strongly believe that it doesn't apply here. Gold and silver do have a strong connection, but in the end of the day, they do both have different reasons for going up and down. Yes, gold might have another 6-7 $25-27 drops, but it doesn't mean that each of those times silver will act in the same manner that it has today. I've only been interested in pm's a little over two years now, and I know a bit, but I have a very long way to go before I can say I understand them, and until I do I can only keep it as a hobby, so it's mainly small amounts of silver and an even a smaller gold coin on the odd occasion until I can CONFIDENTLY put money into it. Anyone else who does and gets burned does it at their own risk. But then again, everyone buys for different reasons
