Silver just broke AUD$27

Discussion in 'Silver' started by Alfie, Aug 27, 2013.

  1. Alfie

    Alfie Active Member

    Joined:
    Jul 27, 2011
    Messages:
    413
    Likes Received:
    51
    Trophy Points:
    28
    Location:
    It's girt by sea
    Go you good thing
     
  2. scone

    scone Active Member Silver Stacker

    Joined:
    Mar 15, 2012
    Messages:
    1,569
    Likes Received:
    23
    Trophy Points:
    38
    Location:
    Tassie
    cheering :D
     
  3. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,518
    Likes Received:
    639
    Trophy Points:
    113
    Location:
    Australia
    Seems a bit too fast of a rise for my liking, not complaining or anything but it is usually follwed by a smackdown, I think that is a technical term but I am not a chartist.
     
  4. thatguy

    thatguy Active Member

    Joined:
    Jan 18, 2011
    Messages:
    5,805
    Likes Received:
    2
    Trophy Points:
    38
    Location:
    Brisbane
    nice to have a falling AUD and rising PMs...
    [​IMG]
     
  5. volrathy

    volrathy Active Member

    Joined:
    Oct 29, 2012
    Messages:
    1,004
    Likes Received:
    0
    Trophy Points:
    36
    Location:
    Blue Haven NSW
    We are all rich as nazis
     
  6. Spode

    Spode Member

    Joined:
    Sep 17, 2011
    Messages:
    209
    Likes Received:
    2
    Trophy Points:
    18
    Location:
    Brisbane
    The Australian dollar dived. You sure that didn't do it, instead of silver actually moving? I haven't looked at the US$ price.
     
  7. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    We're rich! Richer than astronauts
     
  8. Court Jester

    Court Jester Well-Known Member Silver Stacker

    Joined:
    Jul 30, 2012
    Messages:
    3,502
    Likes Received:
    276
    Trophy Points:
    83
    Location:
    Gold Coast QLD

    this

    move along people nothing to see here
     
  9. Aureus

    Aureus Active Member Silver Stacker

    Joined:
    Jul 7, 2011
    Messages:
    2,949
    Likes Received:
    3
    Trophy Points:
    38
    Location:
    Milky Way Galaxy
    irrelevant, it's still $27
    There's plenty to see, what are you talking about? :/
     
  10. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    7,777
    Likes Received:
    7,199
    Trophy Points:
    113
  11. willrocks

    willrocks Well-Known Member Silver Stacker

    Joined:
    May 10, 2012
    Messages:
    7,777
    Likes Received:
    7,199
    Trophy Points:
    113
    Maybe I should buy some put options to hedge my call options : )
     
  12. Golden ChipMunk

    Golden ChipMunk Well-Known Member

    Joined:
    Dec 12, 2012
    Messages:
    7,890
    Likes Received:
    1,307
    Trophy Points:
    113
    Location:
    Perth, Jupiter, Venus, Mars
    Not surprising :D
    $28-$29 here we come
     
  13. gooby

    gooby New Member Silver Stacker

    Joined:
    Aug 13, 2013
    Messages:
    369
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    null
    I'm only very new to this, and I genuinely wonder about this, so I'd appreciate it if someone could clarify.

    It seems like most here essentially want to stack as much silver as they can and aren't too interested in selling much, if any, for now. It is difficult to reconcile this goal with those same people being so excited about a rising silver price. Of course, a rising silver price is suggestive that the money already invested has been invested well, so perhaps there is some psychological benefit to be had from reassurance of a sound investment. However, it also means that less silver can be purchased. Unless one doesn't intend to purchase any more silver and/or they are more interested in selling/flipping at this point, I don't understand why one would be excited about rallies in its price. I'd be perfectly happy for the price to plummet, however unlikely that might be right now, as it would mean I could buy a lot more silver, which is, after all, my aim.

    I'm absolutely not trying to have a go at anyone here, but I wonder if I'm missing something.
     
  14. trew

    trew Active Member Silver Stacker

    Joined:
    Aug 24, 2011
    Messages:
    3,653
    Likes Received:
    7
    Trophy Points:
    38
    Location:
    Melbern
    All depends on each individual

    Those that have not reached their target and still have more fiat want the price to go down

    Those that have already committed all their fiat and cannot buy any more want the price to go up


    Some might need to cash out some of their stack for other needs so they would also like the price higher

    Some just want the GSR to go one way or the other so they can swap one metal for another
     
  15. CriticalSilver

    CriticalSilver New Member Silver Stacker

    Joined:
    Dec 10, 2010
    Messages:
    2,639
    Likes Received:
    1
    Trophy Points:
    0
    Location:
    Australia
    Nobody has a crystal ball, so investing in PMs is ultimately a hunch. Some people are gambling for a quick turn-around, some are stacking long-term, but all are hoping that they are guessing correctly because there are consequences for guessing wrong.

    When the value of your assets increase, its confirmation of a correct guess and reduces the stress associated with the concern of loosing wealth through a bad guess. My theory is that it is the reduction in stress that feels good, rather than the actual movement in price.
     
  16. bordsilver

    bordsilver Well-Known Member Silver Stacker

    Joined:
    May 23, 2012
    Messages:
    8,717
    Likes Received:
    304
    Trophy Points:
    83
    Location:
    The rocks
    Besides what Gino said, I suspect they are probably largely two different groups of people rather than actually the same individuals (but given I am one who generally ignores the thousand threads about the price rollercoaster I could easily be wrong).

    A bunch of people are no doubt just being happy in response to the recent spate of narky idiots bagging stackers and/or the bullish. Sentiment among a group on here seems to have been on a rollercoaster recently while many others have simply ignored the day to day crap and just kept on stacking as we can.
     
  17. gooby

    gooby New Member Silver Stacker

    Joined:
    Aug 13, 2013
    Messages:
    369
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    null
    Thanks for the replies to my question.

    I guess that things are also different when you have quite a bit of silver and, hence, quite a bit of money tied up in silver. Since I only have a very small amount so far, I really wouldn't care even if it ended up being worth 10% of what I paid, as the 90% loss would still be almost negligible in absolute terms. I'd probably feel differently if I had 5 or 6 figures tied up, though... not that that's going to be a 'problem' for quite a while yet.

    I'm aiming to have at least 1 kg of silver by new year, so I'll keep hoping for a smackdown :)
     
  18. Ag

    Ag Well-Known Member Silver Stacker

    Joined:
    Jan 30, 2010
    Messages:
    1,394
    Likes Received:
    43
    Trophy Points:
    48
    Location:
    QLD
    You get this paradox when sniffing your pm's too much ;) lol!
     
  19. metalzzz

    metalzzz Well-Known Member

    Joined:
    Sep 3, 2011
    Messages:
    1,977
    Likes Received:
    86
    Trophy Points:
    48
    Location:
    Australia
    I think a test of $26usd is coming
     
  20. PAGAU

    PAGAU New Member

    Joined:
    Jun 9, 2013
    Messages:
    160
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Australia
    You have to understand that Court Jester still sees a AU$21 to $27 Silver spot price rise as going 'sideways'.
    I suspect even at AU$30 in his mind the price is still going sideways.
    He's entitled to his opinion but that does not mean others SEE it this way.

    When I'm down the beach I see sand crabs running 'sideways'. That is what I see.
    To a sand crab, he is making progress, going sideways to head 'forwards'. He can go 'sideways' quite fast to reach his destination!

    If the Silver price has to run 'sideways' to make forward progress then so be it, the observation is different, the result is the same.

    Also , the Aussie hasn't really 'dived' when Silver went AU$21 to $27, the Aussie moved down slightly from $91.5c to today's 90c. The trend is down though.
     

Share This Page