Silver has officially hit rock bottom

Discussion in 'Silver' started by SilverDJ, Mar 14, 2020.

  1. SilverDJ

    SilverDJ Well-Known Member

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    Well, sub US$15, which has always been kinda the benchmark.
    Only been this low a few times in the last 5 years

    upload_2020-3-14_12-37-38.png
    upload_2020-3-14_12-38-35.png
     
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  2. alor

    alor Well-Known Member Silver Stacker

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    [​IMG]
     
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  3. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Not yet!
     
  4. alor

    alor Well-Known Member Silver Stacker

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    its more like $14
    $13 seems to be untouchable on the chart
     
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  5. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    Where's Pirocco? I thought he would be exchanging all his euros for silver at $14 silver.
     
  6. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Maybe because industrial users like jewellery and solar makers stopped buying?
     
  7. BBQ

    BBQ Member

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    That chart looks nice for buyers. Must be tempting.
     
  8. SilverDJ

    SilverDJ Well-Known Member

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    And that chart is precisely why anyone who quibbles over $15 vs $14 vs a mythical $13 is clueless. Look at the time spent under $15, it's the blink of an eye. If you really believe in silver then it won't matter if you bought at $15 or $14. Start buying now.
     
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  9. minimilled

    minimilled Active Member

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    Graph is great in USD terms for an ATL but in AUD terms. I remember some pretty low prices in 2007-8 and again but a bit higher than rock bottom in 2015 or so.

    Right now POS is 24-25 AUD which is relatively pretty high in aussie terms, but still shit.
     
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  10. alor

    alor Well-Known Member Silver Stacker

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  11. 316ag

    316ag Active Member

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    Unfortunately, I think the aud is going lower. The Reserve Bank and the federal government are prepared to sacrifice the aud.
     
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  12. minimilled

    minimilled Active Member

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    I see it that way too, but there will be some high points on the way down. In the end, it’s a fair bit of hysteria bolted on to a reality check, ie the reality of death for all of us.
     
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  13. minimilled

    minimilled Active Member

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    It’s more fear and loathing at the moment, so there should be a point where the markets skid along the bottom

    It’s not the black death, yet

    However, if you are above 70-80yo, it would be prudent to stay at home
     
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  14. Slimey

    Slimey Well-Known Member

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    Now compare your chart to the silver spike of the 70’s.
    It only looks like we are up to the 2nd spike of the pause between peaks.
    That means at least 3 more years in the wilderness.

    upload_2020-3-14_22-32-15.png
     
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  15. Silverling

    Silverling Well-Known Member Silver Stacker

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    Yes you are right. As we pay for our silver in AUD it is better to show price charts in AUD and not USD.

    Here is a better look at it.

    upload_2020-3-15_7-1-21.png
     
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  16. heartastack

    heartastack Well-Known Member Silver Stacker

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    how low do you reckon?
     
  17. Silverling

    Silverling Well-Known Member Silver Stacker

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    During the dotcom bubble/bust in 2001 our dollar hit as low as .49c to the USD. So if I had to guess it would be anywhere between .49c and where we are now at .61c. In the short term I think it will go down a bit more, we just don't know. It has come to a point where we have devalued to the tune of 40% + against some currencies and the USD is one of them. Not a pretty picture.
     
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  18. openeyes

    openeyes Well-Known Member Silver Stacker

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    I would second that. We will be heading to 0.50 or thereabouts.
     
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  19. SilverDJ

    SilverDJ Well-Known Member

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    It's now beyond rock bottom, it has just dropped to under US$13

    upload_2020-3-16_21-31-2.png
     
  20. SilverDJ

    SilverDJ Well-Known Member

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    I'm now calling US$10 like it dropped to in 2009.
     
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