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Old 09-23-2011, 18:23   #1001
cowboy1964
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Don't forget about buying gold. Silver's price is going to be suppressed by any global recession/depression due to the lack of industrial demand. Mining of silver is running high and demand is falling. Not good for prices.

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Old 09-23-2011, 18:45   #1002
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Don't forget about buying gold. Silver's price is going to be suppressed by any global recession/depression due to the lack of industrial demand. Mining of silver is running high and demand is falling. Not good for prices.
Are you suggesting the 5,000+ year old bubble for Silver is going to pop?

When reality is forced, I'm thinking silver will be just as welcome as gold. I mean looking at other places where it was forced it certainly seems to have been the case.

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Old 09-23-2011, 20:42   #1003
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No, we're nowhere near the top in this bull cycle for PMs. Gold will just be less volatile for awhile. A deep recession or depression is a double-edged sword for silver. I'm not saying don't buy silver, just don't ignore gold.

Anyone know what it costs to mine silver? I heard that the cost for mining gold is currently about $1000/oz.

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Old 09-23-2011, 21:07   #1004
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Quote:
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No, we're nowhere near the top in this bull cycle for PMs. Gold will just be less volatile for awhile. A deep recession or depression is a double-edged sword for silver. I'm not saying don't buy silver, just don't ignore gold.

Anyone know what it costs to mine silver? I heard that the cost for mining gold is currently about $1000/oz.
Keep in mind the government's response and its effect on metal prices. The response is as predictable as the sunrise.

This whole thing is playing out just like Prechter forecasted.
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Old 09-24-2011, 09:44   #1005
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Gold and silver (especially silver) prices tumbled today. Sept 24 2011.
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Old 09-24-2011, 09:52   #1006
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This whole thing is playing out just like Prechter forecasted.
Prechter did his best work in the mid-eighties. He has been wrong on gold and the markets ever since. BTW, does he include .gov intervention in the markets in his elusive Elliot Wave analysis?

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Old 09-24-2011, 09:52   #1007
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Gold and silver (especially silver) prices tumbled today. Sept 24 2011.
I don't understand. Usually after 4 or 5 on Friday the price locks up until Sunday night sometime...why is it still moving around? Looks like it dropped another point overnight.

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Old 09-24-2011, 12:58   #1008
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It's settled at $31.09 for the weekend.

Any predictions? I think we'll touch the 20s next week. The lower the better since I want to buy, not sell.
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Old 09-24-2011, 13:11   #1009
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It's settled at $31.09 for the weekend.

Any predictions? I think we'll touch the 20s next week. The lower the better since I want to buy, not sell.
Oh I think we'll definitely see $20's and I'll guess it'll dip down to the lower range before leveling off. I also think it'll be a LOOOONNNGGG time before we see $49 or even $39 again.

In regard to the shift over the weekend.... last night it was $32.XX and this morning it was $31.09...so how did it move after closing yesterday afternoon?

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Old 09-24-2011, 19:21   #1010
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Oh I think we'll definitely see $20's and I'll guess it'll dip down to the lower range before leveling off. I also think it'll be a LOOOONNNGGG time before we see $49 or even $39 again.
Call your local dealer and tell him you want to buy silver here BIG...maybe 500 ounces. See what he says. I'll bet he doesn't have any to sell less than $40 per.

You will see this alot in volatile bullion markets. Manipulated SPOT price does not indicate actual prices you will pay from dealers. I'll bet he is still sitting on silver he paid $48 for...

Wait a bit. We will see prices back in the 40s the first week or two in October.

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Old 09-24-2011, 19:41   #1011
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As far as my personal thoughts, again, my thoughts, I watch the market daily. I do buy and sell. And if the Govt. shuts down even a 1/4 of it, which they seem to think will happen. I believe the precious metals will rise. As the stock goes down as fear of a shutdown, so shall the metals rise.
I hope it does drop low, as I wanna buy more. Only because it will go up in the future. But this is only my .02 cents worth.
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Old 09-24-2011, 20:59   #1012
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Call your local dealer and tell him you want to buy silver here BIG...maybe 500 ounces. See what he says. I'll bet he doesn't have any to sell less than $40 per.

You will see this alot in volatile bullion markets. Manipulated SPOT price does not indicate actual prices you will pay from dealers. I'll bet he is still sitting on silver he paid $48 for...

Wait a bit. We will see prices back in the 40s the first week or two in September.

SC
I bet you are right. Same thing happened last time back in April. The prices dropped and everyone just stayed puckered and looked around to see if the dust had settled before the price reflected spot. That only took a week or so. After that, spot did in fact correlate with the prices people were paying plus a buck or two per ounce. I remember one dealer wouldn't even sell any for a week or two come to think of it.

Did you mean October of this year or September of next year? If it's the latter I'd say you are warmer than with the former. As I said, recent history would show that when a big dip happens quickly, the recovery does not take it as high as it previously was and that rise take exponentially longer.

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Old 09-24-2011, 21:15   #1013
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I've been watching Ebay today. You'd think the spot price was still in the upper 30s given what people are still bidding. Maybe they'll wise up in a few more days.
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Old 09-24-2011, 21:17   #1014
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I've been watching Ebay today. You'd think the spot price was still in the upper 30s given what people are still bidding. Maybe they'll wise up in a few more days.
Like I said, it should take about a week or two before the buyers wise up and the sellers realize no one is bidding.

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Old 09-25-2011, 02:00   #1015
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Like I said, it should take about a week or two before the buyers wise up and the sellers realize no one is bidding.

-Emt1581
People are actually still bidding $39-40 each for silver American Eagles and Canadian Maples in lots of 3 and 5. There is a big dealer on Ebay that I deal with and they have hundreds of these auctions daily.

Last edited by cowboy1964; 09-25-2011 at 02:01..
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Old 09-25-2011, 07:50   #1016
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Oh I think we'll definitely see $20's and I'll guess it'll dip down to the lower range before leveling off. I also think it'll be a LOOOONNNGGG time before we see $49 or even $39 again.
Define "looonngg time" please. Just curious...

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In regard to the shift over the weekend.... last night it was $32.XX and this morning it was $31.09...so how did it move after closing yesterday afternoon?
I didn't see it move. Where are you looking for the spot price? I see slightly different prices on different sites. If it did, it's because they raised the margins after the close on Friday. That increases the odds of it going down on Monday, regardless of the tremendous demand right now.

For those of you considering it, don't be "penny wise, pound foolish". The fundamentals have not changed.
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Old 09-25-2011, 14:31   #1017
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A long time before hitting $39??? It will probably be back there within the next month or two.
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Old 09-25-2011, 14:35   #1018
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Define "looonngg time" please. Just curious...



I didn't see it move. Where are you looking for the spot price? I see slightly different prices on different sites. If it did, it's because they raised the margins after the close on Friday. That increases the odds of it going down on Monday, regardless of the tremendous demand right now.

For those of you considering it, don't be "penny wise, pound foolish". The fundamentals have not changed.
I'd say it'll take one of two things in regard to that long time...either an event that causes a reaction/spike or 6 months minimum until it creeps up there.


I watch bulliondirect and if that goes down apmex.

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Old 09-25-2011, 14:37   #1019
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A long time before hitting $39??? It will probably be back there within the next month or two.
I'd bet, without some specific event causing a spike, it won't get up that high for a lot longer than a month or two. As I said, closer to 6. But that's my uneducated guess.

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Old 09-25-2011, 15:51   #1020
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A long time before hitting $39??? It will probably be back there within the next month or two.
I'm quoting you on this. Be prepared. I haven't quoted anybody that was even 1/2 right so far.
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