It's A Weird Market....

Discussion in 'General Precious Metals Discussion' started by ozcopper, Nov 19, 2019.

  1. Ian Gillman

    Ian Gillman Active Member

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    You will, just keep on adding to your stack and when you retire you will be so glad that you resisted the urge to blow it all now.
     
  2. Silverling

    Silverling Well-Known Member Silver Stacker

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    I find on here that the market is indeed weird. Just 3 weeks a ago spot for silver was around $25 and it was hard to move stuff. 3 weeks later spots up to $26.27 and things are getting sold again. Lets not mention 14 Months ago when spot was $19.50 AUD.

    This is something I can never understand. Lets say you like this fantastic 1972 FORD GTHO, it is immaculate, nice big thumping Aussie V8 and has been garaged for nearly 50 years already. You love this car and now it is for sale for $100,000 but you can't afford it. You dream and time goes on but now the owner is getting old and wants to sell. He does something unheard of in the classic car industry, he puts it on the market for $80,000 as a quick sale. You jump at it because you always wanted it and now it is at a 20% discount. You buy it at a massive 20% discount and now it's yours and you are happy.

    But in the precious metal industry a lot of people do the opposite. Prices were $19.50 AUD an oz 14 Months ago and no one could sell anything. There was a thread of buying 2019 1 oz kooks for $25 each brand new, unbelievable but sales were slow. Then spot moved up a bit, sales increased as prices rose. Then spot moved to $28 and anything that was put up for sale was sold quickly.

    So why is it people will buy almost anything else when it is discounted, property, cars, petrol, food etc. but not precious metals? Why is it like this with precious metals?

    It is a very very weird market indeed.
     
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  3. silverhair

    silverhair Well-Known Member

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    I decided to start stacking on Dec 1 2019 on a whim, a decision taken to force me to to start preparing for longer term retirement and to stop my frivolous spending.

    The thing that changed my mind set was spiraling inflation and the noticing how each year a dollar was worth less and less.

    Also gold and silver seem to tell the truth, not lies, when it comes to global economic health.

    I am of the opinion that for every dollar I put into these metals now, will be worth at the very least the same in 10 years and beyond not 50% less which is what fiat seems to do.

    If I have come to this realization, surely others are as well
     
  4. madaw1

    madaw1 Well-Known Member

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    I think nearly every day Johny knows or has some opinions about cars,real estate,petrol,food etc.but not about precious metal. This come more with the knowledge about the subject. I've never seen anyone talking about the price of gold or silver in Pub-people talking about girls,boys,politics,footy-but not comparing precious metal prices...
     
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  5. madaw1

    madaw1 Well-Known Member

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    Good on you!-Luckily I've come to this conclusion before gold took off...
     
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  6. Silverling

    Silverling Well-Known Member Silver Stacker

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    But very nice well meaning people thought this too in 2011, some 9 years ago. For silver they paid $44 an oz AUD back then and now they are losing 41% of their money. Ouch!
     
  7. madaw1

    madaw1 Well-Known Member

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    All depends what you were buying?... If you have invested in bars-yes! but if you have bought and you were buying for example -silver panda,you could even be ahead or even/big difference to losing 41percent/.
     
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  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    I think it has alot to do with holiday break timing. Personally I haven't bought any extra for a while as I'm trying to catch up on bills. Only moved a bit of gold around to make profit on peaks and dips. I've been flat broke when the bargains are listed but as soon as I've got the cash to buy spot has already caught up again. Intend to plan better next holiday season and have cash set aside specifically to benefit from anyone selling to pay holiday bills, if we make it to next season :rolleyes:
     
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  9. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Just like stocks, people like to buy in a rising market which is what is happening to silver. Fundamentally, the lowering of rates is expected to be bullish for precious metals.

    If this is really a new precious metal bull run, then we’re still at an early stage so buy and hold is the correct way forward. Ignore the zigzagging, just HODL.
     
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  10. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    I've said it before:

    The best time to plant a tree was 20 years ago,
    the second best time is today.
     
  11. silverhair

    silverhair Well-Known Member

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    Buying during peaks is never smart. Most end up in tears. If not all.
     
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  12. Slimey

    Slimey Well-Known Member

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    Market psychology is to some degree predictable. When something is cheap, no-one wants it but as the price skyrockets, they all want it. Take the split window Kombi. Underpowered, unreliable, unexceptional...and at one point, nearly unsellable (due to all the other un....'s ). Now you will have people lining up outside your door if you advertise for less than $50,000. Now it is simply unfreakinbelievable.
     
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  13. sctpc

    sctpc Active Member

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    I think yes Gold and Silver are going up, and differently have a long way to go, this is still the start of the run as the train has just started the journey. Last weeks peak will become the new low over the next month.
     
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  14. SilverDJ

    SilverDJ Well-Known Member

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    Yep, plenty of times you could say that, more if you factor in inflation.

    upload_2020-2-23_23-47-29.png
     
  15. silverhair

    silverhair Well-Known Member

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    My comment was in reference to buying silver at 40..and I totally agree with your comment above
     
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  16. Michael Stevens

    Michael Stevens Well-Known Member Silver Stacker

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    Items in the trading section are moving quite slowly at the moment.
    Has everyone been spending their money on toilet paper? :D
     
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  17. alor

    alor Well-Known Member Silver Stacker

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    TP cost $15-17 for a pack of 30 rolls
    just like our 66 50c that cost about $8-9
     
  18. slavaja

    slavaja Well-Known Member Silver Stacker

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    In the pass month a number of members flooded the market with cheap silver and I think most people are broke buying it all up.
     
  19. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    ^^
    I am in the process of putting up a WTB Silver Bars thread as soon as the orders are finalized.
    Looking for a minimum of 60 kgs at the moment.
     
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  20. slavaja

    slavaja Well-Known Member Silver Stacker

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    Looks like big money is coming in
     

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