Silver heading down. Sub US $20 back on the cards?

miniroo said:
what's the average time frame people here are stacking for?
2 years, 5 years, 10 years, 20 years?

I'm guessing on average most stackers are looking for a 10 year deal, young ones are looking to be set up in 10 years,
oldies are looking to retire comfortably in 10 or so years.

So who really cares about silver mines closing down, unlike gold, silver is needed to make things, if they don't mine it anymore
then what's out there will be used up, hopefully really cheap, $8 - $14 oz.

when it's used up they will go get more, that's when it's true value will be realised, 16/1 will be on again,
they can't make silver 16/1 when gold is so high, bring gold down and reset silver to 16/1 from there.
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Don't forget, the entire innovation in usage of nano technology in medical science makes gold a very highly needed metal. In 3-5 years timeframe I bet, we will see significantly increased usage of Gold and so the costs..
 
Cheepo said:
SilverPete said:
Pirocco said:
... But I doubt that $14 will be given soon / end of the week
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Do you think silver will ever hit $14 again? That's a crazy low price.
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As Pirocco pointed out, it was $5 only a few years ago, and that price kept for 18 (or 14?) years. $20/oz is a crazy price, and of course all costs have gone up since silver was $5, but by how much? 20%? If so, silver should now be $6. And that's where I expect it to be, in 2-3 years time.
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Do you think that the price of a product, that hung for 2 decades due to sales of existing stocks AND rather big technological/industrial/scientific advances (computers being a major one), will be just 20% more for another couple decades? Do you see similar big improvements to happen in the economy? I don't. It's possible that we see $15 for some years, but $6? I hope so, but I wont wait for it lol, I'll be adding silver much 'sooner' haha.
 
SpringfieldStacker said:
$16 is right around the corner!
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Where were you 4 weeks ago, when the price reached $22?
Then I saw the "SpringfieldStackers" talk 'bout $24-25. :D
 
4 for an oz of silver. there is definitely going to be a shortage, if the US mint is selling out at 12.

put it this way, the guys manipulating the price picked up 900 million $ worth at 11.67, it won't go much lower than that. maybe 11 but we will see

GBP in case you were wondering.
 
Gold seems supported at $1400. If it breaks through $1395, I'd expect it to keep dropping until at least $1350. Not a scientific TA though - just gut feeling.
 
robertc400 said:
I think Gold will rebound off US$1180 for the third time making a triple bottom. It should be all uphill from there. Silver will follow it down to what ever price (does not really matter). If Gold breaches that US$1180 level, who knows how low it and silver will go. I am hoping gold and silver will trend up from there.
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In other words, you think it might go up, down, or stay the same, but whatever it does, you think it might do it. You are a well-paid financial adviser, right? :rolleyes:
 
Yendor said:
Gold seems supported at $1400. If it breaks through $1395, I'd expect it to keep dropping until at least $1350. Not a scientific TA though - just gut feeling.
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It's had quick dips past $1395, but bounces straight back up. I wonder if it can maintain that next week?
 
Yendor said:
Yendor said:
Gold seems supported at $1400. If it breaks through $1395, I'd expect it to keep dropping until at least $1350. Not a scientific TA though - just gut feeling.
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It's had quick dips past $1395, but bounces straight back up. I wonder if it can maintain that next week?
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You think it could head down further next week? I get the feeling there is some resiliency at this price level. I'm probably wrong.
 
up a dollar,down a dollar I dont care.At $20-$22 spot Im paying about $23-$24/ounce.If we stay at $19 or lower I increase the ozs I buy.At this point I'm buying a tube or so a month.When the price dips I push it to 28 or 30 ozs.This is for name brand coins ie:SAEs,CMLs,britannias etc.If I start to buy rounds I could increase my stack rather quickly.
 
The futures market position, reflecting the price risk that the 'pro's' think there is, didn't drop big time with the recent price drop, which gives reason for lower, so I decided to wait swap my last saved euro's to silver.
25/03/2014 31755 $19.96
18/03/2014 35900 $20.84
11/03/2014 37634 $21.32
04/03/2014 39769 $21.14
25/02/2014 38985 $21.81
18/02/2014 32853 $21.62
The 2008 bottom position was 20000.
In 2012 and 2013 we saw decade-low positions, the 2013 was even the lowest in all the data I have avail. So it's not "that" likely to return. But the 20000 is quite "common" so reasonable to wait for.
The unknown element are the silver ETF's. These didn't sell big time alike their gold equivalents did last year. It's a rather weird gold-silver market difference. Because hard to find an explanation for. And yet, despite they didn't sell their shares, the silver price dropped with golds.
As of recently, another weird element popped up with the biggest, IShares.
I check http://us.ishares.com/product_info/fund/overview/SLV.htm every day (a very occasional miss is possible), so all lacking dates = no change.
This is all data I have avail, as to make clear the weird element:
2012/04/12 308,370,469.900
2012/05/07 308,191,672.700
2012/05/11 304,309,376.700
2012/05/14 305,959,277.700
2012/05/17 309,258,814.500
2012/05/18 310,229,256.500
2012/05/25 310,714,438.500
2012/05/30 310,035,157.500
2012/06/04 309,897,800.500
2012/06/05 310,867,996.500
2012/06/07 310.714.438,500
2012/06/13 311,741,101.700
2012/06/22 317,512,767.500
2012/06/29 315,767,012.300
2012/07/03 311,271,605.500
2012/07/12 312,823,227.900
2012/07/13 311,756,579.900
2012/07/23 312,144,410.300
2012/07/25 309,914,477.500
2012/08/01 312.144.209,700
2012/08/02 313.759.604,400
2012/08/06 313.226.434,400
2012/08/15 312.935.630,400
2012/08/22 314.583.226,200
2012/08/23 315.746.223,000
2012/08/24 314,292,483.000
2012/08/30 312,548,119.400
2012/08/31 310,949,150.600
2012/09/04 310,028,547.400
2012/09/05 312,962,655.500
2012/09/10 315,191,323.300
2012/09/12 314,803,748.100
2012/09/13 314,077,053.600
2012/09/18 316,402,423.200
2012/09/20 319,599,599.800
2012/09/24 322,021,629.800
2012/09/26 322,990,383.800
2012/09/28 319,115,479.800
2012/10/01 319,551,403.800
2012/10/02 318,941,345.000
2012/10/11 318,118,072.400
2012/10/15 317,827,514.000
2012/10/17 317,052,725.200
2012/10/18 317,924,337.400
2012/10/23 318,892,721.400
2012/10/24 318,069,610.300
2012/10/25 319,037,966.300
2012/11/01 319,812,580.700
2012/11/02 319,675,305.300
2012/11/05 320,546,726.700
2012/11/06 320,934,008.300
2012/11/08 322,483,099.500
2012/11/09 323,935,348.500
2012/11/12 323,306,047.100
2012/11/13 322,483,146.800
2012/11/15 321,031,011.800
2012/11/16 319,578,894.800
2012/11/19 318,126,801.800
2012/11/20 317,642,788.800
2012/11/22 315,658,356.000
2012/11/28 315,174,390.000
2012/11/29 314,448,453.000
2012/11/30 313,722,526.500
2012/12/04 314,756,320.700
2012/12/05 316,014,502.300
2012/12/13 317,369,318.700
2012/12/20 318,143,414.700
2012/12/21 322,981,444.700
2012/12/31 324,239,127.100
2013/01/03 324,099,581.900
2013/01/04 323,470,757.600
2013/01/07 325,115,347.800
2013/01/10 325,792,488.600
2013/01/15 326,759,768.600
2013/01/16 345,137,860.600
2013/01/22 343,687,009.600
2013/01/24 337,497,108.800
2013/01/25 336,578,312.500
2013/01/28 335,756,245.200
2013/01/31 333,677,044.700
2013/02/02 335,175,993.900
2013/02/04 335,036,944.900
2013/02/07 335,858,876.200
2013/02/08 337,406,018.600
2013/02/15 338,276,212.400
2013/02/20 338,856,290.000
2013/02/21 340,886,515.400
2013/02/27 341,369,860.400
2013/02/28 342,046,537.800
2013/03/01 342,433,205.000
2013/03/04 342,292,222.100
2013/03/12 344,128,591.100
2013/03/15 345,095,059.100
2013/03/19 340,262,979.100
2013/03/21 341,954,161.600
2013/03/22 343,645,323.100
2013/03/27 344,128,478.100
2013/04/03 343,302,253.400
2013/04/05 337,505,197.400
2013/04/15 336,007,785.800
2013/04/23 331,757,790.600
2013/04/25 333,303,182.600
2013/04/26 334,124,167.000
2013/04/29 334,607,098.000
2013/04/30 336,055,837.000
2013/05/02 335,376,960.800
2013/05/09 335,666,675.000
2013/05/15 334,121,683.000
2013/05/16 331,852,518.300
2013/05/17 329,631,679.700
2013/05/20 327,893,650.100
2013/05/22 322,245,369.800
2013/05/29 321,279,945.800
2013/06/04 321,135,274.700
2013/06/11 321,473,111.500
2013/06/20 320,990,547.500
2013/06/21 323,885,835.500
2013/06/25 317,709,349.100
2013/06/26 317,998,855.700
2013/06/27 318,481,348.700
2013/07/03 320,267,163.300
2013/07/05 323,161,899.300
2013/07/08 322,631,213.100
2013/07/12 327,455,323.100
2013/07/16 328,227,127.900
2013/07/18 330,638,952.900
2013/07/24 335,269,311.300
2013/07/26 334,979,923.500
2013/08/01 334,401,194.700
2013/08/02 334,262,543.500
2013/08/13 336,094,888.300
2013/08/15 338,409,381.100
2013/08/21 339,373,701.100
2013/08/28 340,820,040.100
2013/08/30 338,795,220.100
2013/09/04 338,666,855.900
2013/09/11 339,630,913.900
2013/09/13 337,510,087.500
2013/09/19 340,883,814.500
2013/09/24 341,751,284.900
2013/10/03 341,606,142.200
2013/10/07 339,678,718.200
2013/10/11 337,751,450.200
2013/10/16 334,089,777.800
2013/10/23 335,727,679.200
2013/10/31 337,654,563.200
2013/11/04 337,510,405.700
2013/11/13 335,776,562.900
2013/11/18 334,524,434.500
2013/11/22 333,079,850.500
2013/11/25 332,116,808.500
2013/11/29 331,442,709.900
2013/11/03 331,297,122.100
2013/12/10 328,216,037.300
2013/12/17 326,001,625.500
2013/12/24 321,814,189.100
2013/12/30 320,177,792.900
2014/01/03 318,597,649.500
2014/01/10 320,041,282.500
2014/01/14 318,116,486.500
2014/01/17 322,446,926.500
2014/01/31 324,563,599.300
2014/02/05 324,422,849.100
2014/02/07 322,979,783.100
2014/02/12 324,422,753.100
2014/02/14 322,498,869.100
2014/02/18 326,346,613.100
2014/02/20 324,134,298.300
2014/02/24 326,635,134.700
2014/02/26 328,077,858.700
2014/03/03 326,923,758.700
2014/03/05 326,803,953.400
Notice the frequency of the updates as of lately (2014/03). We saw quite some price change over that period, yet since 2014/03/05 no updates. It's hard to believe that Ishares' shareholders on a net total basis ceased to buy/sell shares. But if that wasn't true, then it must imply that Ishares fund management ceased to update their stock, which in turn would mean that they stopped to let the Exchange Traded Fund track the silver price, or in other words: the ETF share value was discoupled from the silver price, rendering them to separate markets where the Fund shareholders only able to drain off eachother in the zero-sum market fashion.
 
Pirocco said:
And yet, despite they didn't sell their shares, the silver price dropped with golds.
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It's weird that you think spot would be influenced by one ETF with just 10 ton of Ag holdings. I've told you before Pirocco, silver is most influenced by producers and consumers and not investments.
 
BiGs said:
Pirocco said:
And yet, despite they didn't sell their shares, the silver price dropped with golds.
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It's weird that you think spot would be influenced by one ETF with just 10 ton of Ag holdings. I've told you before Pirocco, silver is most influenced by producers and consumers and not investments.
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http://us.ishares.com/product_info/fund/overview/SLV.htm
Profile as of 3/28/2014
Description Value
Total Net Assets $6,438,681,270
Shares Outstanding 339,800,000
Sponsor's Fee 0.50%
Inception Date 4/21/2006
Ounces of Silver in Trust 326,803,953.400
Tonnes of Silver in Trust Tonnes of Silver in Trust
One metric tonne is equivalent to 1,000 kilograms or 32,150.7465 troy ounces.
10,164.74
Indicative Basket Silver Amount 48,066.100
Basket Silver Amount 48,068.100
NAV per SLV in Silver NAV per SLV in Silver
Current basket of silver in ounces as a percentage of inception basket size of 50,000 ounces.
96.132%
Benchmark London Silver Fix Price
Index Ticker SLVRLN<index>
Net Asset Value
as of 3/28/2014 $18.95
* $0.03
* 0.16%
Price
as of 3/27/2014 $19.00
* $-0.02
* -0.11%
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Are you jesting?
IShares alone holds not 10 ton, but over 10000 ton silver, being one third of a worlds annual total supply.
 
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