Next year we shall see $10 USD silver spot price

And the AUD will be in the toilet so it's of no benefit to those of us in Australia.
 
The Crow said:
Stack US dollars???
Buy silver in $US once hits $10?
Take Leon's advice????
Click to expand...
By the time you buy the dollars and then sell them again to buy the metal your mitigating a lot of the benefit. I looked into doing this last year and although a big move made it almost worthwhile I had managed to buy some physical USD and spot and sell it the same way, if I'd had done it through a broker or not been able to buy/sell at spot it would have been marginally worthwhile at best. If the aussie goes to .66usd, a pretty big move, then your only looking at around 10% benefit and you'll probably pay at least 1.5% in each direction plus forex transfer fees, so even in that extreme scenario you're only really getting 6 or 7% and you are exposed to USD risk if there's a problem. Maybe buying the USD ETF as a hedge would be a better way to get exposure.

A drop to $10 usd with the aud at .70 still has silver at $14.30, not too shabby, ar today's exchange rate it's closer to $13.40.

I could believe a big drop is coming but $10 seems a little extreme, TA or no TA.
 
Until precious metals becomes a free market or you have insider information to the supression of PMs, Please please please just stfu. Thank you.
 
phrenzy said:
The Crow said:
Stack US dollars???
Buy silver in $US once hits $10?
Take Leon's advice????
Click to expand...
By the time you buy the dollars and then sell them again to buy the metal your mitigating a lot of the benefit. I looked into doing this last year and although a big move made it almost worthwhile I had managed to buy some physical USD and spot and sell it the same way, if I'd had done it through a broker or not been able to buy/sell at spot it would have been marginally worthwhile at best. If the aussie goes to .66usd, a pretty big move, then your only looking at around 10% benefit and you'll probably pay at least 1.5% in each direction plus forex transfer fees, so even in that extreme scenario you're only really getting 6 or 7% and you are exposed to USD risk if there's a problem. Maybe buying the USD ETF as a hedge would be a better way to get exposure.

A drop to $10 usd with the aud at .70 still has silver at $14.30, not too shabby, ar today's exchange rate it's closer to $13.40.

I could believe a big drop is coming but $10 seems a little extreme, TA or no TA.
Click to expand...
Got our physical USD for $1.14NZD we will cash out at some stage and reap the rewards as Kiwibank will buy them back with 0% transaction fee.
We almost sold them back when it hit $1.36NZD, glad we didn't but something is still bound to cock it up for us:)
 
sterling-nz said:
phrenzy said:
The Crow said:
Stack US dollars???
Buy silver in $US once hits $10?
Take Leon's advice????
Click to expand...
By the time you buy the dollars and then sell them again to buy the metal your mitigating a lot of the benefit. I looked into doing this last year and although a big move made it almost worthwhile I had managed to buy some physical USD and spot and sell it the same way, if I'd had done it through a broker or not been able to buy/sell at spot it would have been marginally worthwhile at best. If the aussie goes to .66usd, a pretty big move, then your only looking at around 10% benefit and you'll probably pay at least 1.5% in each direction plus forex transfer fees, so even in that extreme scenario you're only really getting 6 or 7% and you are exposed to USD risk if there's a problem. Maybe buying the USD ETF as a hedge would be a better way to get exposure.

A drop to $10 usd with the aud at .70 still has silver at $14.30, not too shabby, ar today's exchange rate it's closer to $13.40.

I could believe a big drop is coming but $10 seems a little extreme, TA or no TA.
Click to expand...
Got our physical USD for $1.14NZD we will cash out at some stage and reap the rewards as Kiwibank will buy them back with 0% transaction fee.
We almost sold them back when it hit $1.36NZD, glad we didn't but something is still bound to cock it up for us:)
Click to expand...

But at what rate?
0 fee usually means that they factor a worse exchange rate.
 
Miloman said:
sterling-nz said:
phrenzy said:
By the time you buy the dollars and then sell them again to buy the metal your mitigating a lot of the benefit. I looked into doing this last year and although a big move made it almost worthwhile I had managed to buy some physical USD and spot and sell it the same way, if I'd had done it through a broker or not been able to buy/sell at spot it would have been marginally worthwhile at best. If the aussie goes to .66usd, a pretty big move, then your only looking at around 10% benefit and you'll probably pay at least 1.5% in each direction plus forex transfer fees, so even in that extreme scenario you're only really getting 6 or 7% and you are exposed to USD risk if there's a problem. Maybe buying the USD ETF as a hedge would be a better way to get exposure.

A drop to $10 usd with the aud at .70 still has silver at $14.30, not too shabby, ar today's exchange rate it's closer to $13.40.

I could believe a big drop is coming but $10 seems a little extreme, TA or no TA.
Click to expand...
Got our physical USD for $1.14NZD we will cash out at some stage and reap the rewards as Kiwibank will buy them back with 0% transaction fee.
We almost sold them back when it hit $1.36NZD, glad we didn't but something is still bound to cock it up for us:)
Click to expand...

But at what rate?
0 fee usually means that they factor a worse exchange rate.
Click to expand...

Pretty bad rate. Kiwi bro, if you hold physical USD you are much better off dealing with the Chinese exchange on Queen Street (old bank building, now moved a bit down the road)
 
I just based on the article's long term silver spot chart. Clearly silver is in a downtrend channel for a few years.

From a trader's point of view, until silver breaks out above the downtrend line, you want to hold off your buy order. Simply said, you need a technical confirmation; especially from a long term chart. Any attempt to buy now is purely a gamble with winning odds worse than a slot machine. ;)

TreasureHunter said:
Oh my dear Lord: 10 $ silver?

Where's Kiyosaki, where's Maloney... and the other muketeers in "dark times" like this?
Click to expand...
 
When a long-term trend reverses, it takes a lot of time and effort. You will have plenty of chances to buy low.

Think long-term trends as an aircraft-carrier, is it possible for it make a U turn like a fishing boat?

:P
 
leon1998 said:
When a long-term trend reverses, it takes a lot of time and effort. You will have plenty of chances to buy low.

Think long-term trends as an aircraft-carrier, is it possible for it make a U turn like a fishing boat?

:P
Click to expand...

But that then begs the question of "why does a particular individual stack?"
You are assuming that we buy to trade (and many do). But I for one are buying to hold against a long-term loss in value. I buy (semi)regularly as I can afford it in a similar vein to a savings plan. I will sell sometime: in an emergency, after the dust settles from a financial collapse or in the long-term to finance retirement.

In an emergency: in firesale situations you lose, end of story, prepared for that. You can buy insurance policy savings plans and they do exactly the same - early withdrawal = lost funds.
After a "Greek" disaster: ok, done to death elsewhere, but once there is a reasonable mechanism for selling at some sort of fair price, the PMs will have hopefully held good against a major devaluation of local currency. Out of the ashes with something rather than nothing.
Retirement: well, I'll have to take what the market offers, but hopefully by then the current downtrend will have reversed, the battleship will have turned as you phrase it.

In the meantime, I squirrel away little bits. I know there are a lot of people here with real money to play with and for them, a dollar or two less per ounce will make a difference. For me, on my average purchase, a dollar or even three an ounce will not even make up for the postage. Even to this there is an argument, that is personal circumstances, I can't keep $2 in my pocket without finding a better use for it, let alone the funds for a difference of a dollar or two an ounce to make a difference.
 
I want to put in an early buy order for when physical silver is $10. I'm assuming the current premiums will apply, so 1000 50c rounds at $3.30 or so please.
 
Let's say silver goes back up to AUD$40 (or pick your value) through some non collapse type scenario, who would cash out their stack?
 
SilverDJ said:
Let's say silver goes back up to AUD$40 (or pick your value) through some non collapse type scenario, who would cash out their stack?
Click to expand...

most of the ("so-called")stackers here...and we all know that
 
When $10 USD is upon us, GSR might reach 100 if gold stays $1K USD.

Probability is pretty high for this scenario, I would give it 80%. What do you think? :P
 
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