come on boys, load'er up. I bought my 7 2014 Panda kilos. 3 away from my goal. Hopefully I'll get the final 3 by mid/end of oct. Then it's back to loading up the PM kilos. come to papa. yum, yum. I love the taste of silver. I loved at 30, and 20, and I'll love it even more at 10. Sure, do I wish I saved all my cash for the 10.00 price, no question; but then again, my 2000 kooks on APMEX would have been long, long, long gone; and yet even with spot almost at 16, my purchasing power has remained intact. Oh, and i'm not into blobs, generic, and govt issued bullion that have inches of white snow on it's surface. No thanks. Enjoy the day, I am.
The silver price just shat itself.... what happened? making ROOM for this exodus http://www.zerohedge.com/print/495001 "Runs" From PIMCO's Systemic Risk As Outflows Soar To 12.5% Of Assets please ask missing link to connect the dots :lol:
Ha! Yes, probably, but for the record, 2 big purchases in the last week. And still more dry powder left. I've been waiting for this moment!! And if we or silver can wait for me until end of Oct, more dry powder. I ride it all the way down to zero, such a stubborn chap that I am. But I have a feeling what I'm eyeing will not be available at those prices. We shall soon see.
Well. Prices are coming down but what I think what I worry more is whether prices are staying down for a long time. All about the time horizon I guess.
No worries for me. Keep it here for 10 years or 20 for that matter, I don't care. Maybe by then I'll have a mega horde of gold and silver. Please dear Lord!
The last guy I saw riding something down that far was Slim Pickens on a nuke in Dr. Strangelove and he had a great time until it landed. Classic movie and great scene. Ah haaaaa! http://www.youtube.com/watch?v=JlSQAZEp3PA
Is that a prediction silver pete....... Might not go down to well after seeing the hiding everyone else gets when they predict. I'm all for it btw, always interested on people's thoughts and opinions of where we are headed.
There seems to be some fairly steady and determined not to drop below around 19.40 aud /just over $17 usd. Every time I see that little red line dip I wonder if it's going to really move but surely after a week starting and ending somewhere in the low to mid 17's you would say there is decent super support around that lower level? Except for a very short blip it's hovered between $17 and $17.80 for almost a month. Never say never I suppose but I'm betting my real actual money that there won't be any surprising new low in the next little while. *waits 5 minutes for the market to make him look like an idiot*
I started to write something, but Trader Dan does it far better than me. "There is only one comment that I can make based off of what I see from this chart; either the gold mining stocks are tremendously UNDERVALUED compared to the price of the metal or the gold price is way too high. This ratio just touched a level last seen in DECEMBER 2000! That is FOURTEEN YEARS AGO! Perhaps some more of these gold miners need to head to bankruptcy but with the ratio at current levels, and with the HUI itself trading at a SIX YEAR LOW this month ( refer to that chart I posted previously today) I am leaning to the view that the gold price is too high. Talk about a disaster...." The last time I remember Norcini making comments like that, was early 2013.
I've seen some good arguments that gold has plenty of room to fall because all-in production costs for the efficient producers are still well below the spot. The inefficient ones, or those miners with low-grade, marginal ore deposits, will have to shut down. Why does Trade Dan call it a disaster?
Last time he made similar statements, gold dropped about $300 in two trading days. I would call that a disaster.
Thing is the marginal producers have been contributing quite a lot to the market. Often they actually produce a lot of gold just not at a very good margin. A lot of them are already pushed to the limit and any significant drop in the gold price will have a pretty significant portion of producers go belly up. It won't take long for that big fall in production figures to get back to the market so I don't think long term lower prices are likely unless there is serious a serious reduction in consumption. Do you have a link to the article/video? I've heard of people calling 5-10% lower silver and gold but that's the most pessimistic I've come across, I'd be interested to hear a more dire prediction if it's from someone sensible.
