SKULL
Active Member
The Man's a Super Hero !
Midnight to 6am - Overnight Spot Watchers Spot...
- Thread starter Turk
- Start date
The Man's a Super Hero !
He’d kill for the Peace Prize!
^^^
he should kill himself
he should kill himself
SKULL
Active Member
Dealers sniff out some interest in Gold/Silver & start with the BULLSHIT " Premium "$39.74USD! To the moon, won't come backDownside is bullion dealers are raising premiums on most coins
Yesterday a Silver coin is a 12% premium over spot ( spot Silver rises $1 ) today a Silver coin is a 15% premium over spot.
Premium for actually what ?
SKULL
Active Member
veryugly
Active Member
Used to be cheaper to buy bigger size coins like 5oz or 10oz. But now worked out to be more dearDealers sniff out some interest in Gold/Silver & start with the BULLSHIT " Premium "
Yesterday a Silver coin is a 12% premium over spot ( spot Silver rises $1 ) today a Silver coin is a 15% premium over spot.
Premium for actually what ?
Let it run we get richer.
Smash it down we only buy more.
My strategy in two sentences.
Smash it down we only buy more.
My strategy in two sentences.
The next 10 dollar rise to $50 happened in just 3 to 4 weeks in 2011 after crossing $40.
In 1980, it only took 2 weeks.
Not sure what that means but its a fact.
In 1980, it only took 2 weeks.
Not sure what that means but its a fact.
Good to be a stacker
We know what was going on in 1980 to cause the price rise, maybe central banks and tech companies buying are having a similar effect this time.
And we know what happened in 2011 shortly after crossing $50. A big crash and then many years going nowhere.
I reached my stacking goals a while back so I am not buying that much at these prices but when items are being offered here at spot and below, I can't help but add a bit extra. I just hope the prices don't crash too far or for too long this time.
veryugly
Active Member
I was heavy into silver back in 2011. The dragon mania was the killer, didn't break even until recent price movement. The crash made me stopped at 2012 and only resume stacking 2 years ago.
SKULL
Active Member
I know the mantra of " but this time it's different " but it's actually not. Just different conditions/circumstances.
Having said that, there are a few factors that may support Silver from having a large crash back after going thru $50 USD.
1:- Silver is in a 7 year structural deficit. The say 5 yrs, but the 1'st 2 years were covered by ETF outflows. ( ETF holdings don't count as supply )
2:- The structural deficit is ongoing with no " new " unknown Silver supply for the next 5 yrs & probably 10 yrs, given the time lag from discovery to production of new supply & that's current proposed " new " supply is still short of fully closing the structural deficit.
3:- 70% of Silver supply is a byproduct of other metal/mineral mining. These other metals/mineral producers have very little incentive to increase their mining output as Silver is such a small part of their overall operations. ( why would a copper miner produce more copper & drive the copper price down due to oversupply, just for a few $ extra for a bit of Silver byproduct )
4:- Silver is now being recommended to be on the " critical minerals " register. That incentivizes/mandates that Gov Dept's take steps to ensure adequate supply if the current supply is changed/halted.
Silver will probably have a significant price move up. But hopefully the factors above will give support & the pullback won't be as severe as 1980's or 2011's pullbacks.
SKULL
Active Member
Might pull back a little at 60 or 70 before going over $100 for starters.
Thats my take.
It might build a massive bull flag for awhile or a deeper inverted head and shoulders to push it over.
Or it might just run like gold did but on meth!
The cool thing is, we are about to find out.
Thats my take.
It might build a massive bull flag for awhile or a deeper inverted head and shoulders to push it over.
Or it might just run like gold did but on meth!
The cool thing is, we are about to find out.