Lowest Silver Price In Over A Year

At least in AUD

 

i think there is more downside here, so will wait before jumping back in.

 

Not saying I disagree, however interested in why you believe further downside?

 

Quantitative tightening could mean further declines in pm prices

 

"The Vibe"
Seriously, nothing much more.
Although I guess technically, it's been trending down, and has broken a 12 month low, and maybe a 3 year extrapolated bottom trend as well.
But I won't pretend to have much of a clue about chart analysis.

 

I sold out my silver allocated position quite some time and few bucks higher back, mostly because I needed the money for something, but I also felt it was headed lower. It did, and that's not usually how it work with me

 

As for the 5 years graph, it's spent a good lot of time below the current level, so no reason why it can't go down further again.

 

Going by the COT report I think we're going back up from here.

 

Could be, but the futures markets spot price component came down from a decades record-high, something to not consider "normal".
The last reported 50000-60000 position has been a "normal" peak for many years - entire decade. Yes, a peak. And 20000 a "normal" bottom. The difference is at least 30000, which could be translated to a further price drop of $2 so $14.
Basically, not much changed relative to the previous $14 time.
The price sweeps since, were mostly due to futures trading.
Can't see much reason for it now, though. Likely the dealer club will just replenish their stock again, hedge it, and drive price back up with it.
Maybe a next major crisis will be in september / october.

 

Well it dropped another 50 cents this morning to almost AU$21 / US$16

 

will it reach 15US$.

 

16.02 is day low so far, lower than 9 May 2017 low of 16.06
another down leg oops.

 

It's cracked AU$21 a few times now:

 

If and when Silver breaks the $15 support i will be buying in bulk - it's very low and undervalued right now but i can't see it staying this low in the longterm with so much economic instabilty and with mining and distribution costs as they stand. Great time to buy silver at a discount.

 

By using the Dollar Cost Averaging (DCA) method over the last few years on Silver bullion and bullion coins I've been able to get below my average of all purchases.
It seems real weird D.C.Averaging up, but I'll get over it. LOL. _JOHNLGALT.

 

Holy sh1t silver just plummeted

 

YUMMY, more silver please. _JLG.

 

Appears to be a glitch of some sort, bounced back up now
dam, shouldve locked in some silver

 

Just the 'CRIMEX'* boys getting rid of a few long players in 'THEIR CASINO'

'CRIMEX'* You know who I mean? nudge, nudge, wink, wink. _JLG.

 

Word was when the Japan market opened there was a substantial sale of silver. Don't know how accurate that is, but may explain the sudden drop and rebalance