Silver has officially hit rock bottom

pLBaIdYO
 
alor said:
pLBaIdYO
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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.
 
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.
 
minimilled said:
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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Unfortunately, I think the aud is going lower. The Reserve Bank and the federal government are prepared to sacrifice the aud.
 
316ag said:
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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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.
 
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
 
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
 
minimilled said:
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.
Click to expand...

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
 
heartastack said:
how low do you reckon?
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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.
 
Silverling said:
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.
Click to expand...
I would second that. We will be heading to 0.50 or thereabouts.
 
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