How low will silver go?

J

jim4silver

Silver Member
Apr 15, 2008
3,662
495
I am starting to think we could drop back to $16 from here fairly quick. Short term chart support (from Jan 2016) is now cleanly broken and not by a little.

What is funny is I was actually starting to feel like silver was ready to go up again a few days before the big drop. I should learn to do the opposite when I get a gut feeling like that.

$SILVER - SharpCharts Workbench - StockCharts.com

Jim
 

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If the Fed finally starts raising rates that should strengthen the US$ and be negative for most commodities including silver.
 

I just wonder what impact the upcoming election is going to have on PM's? Feast or famine, and if so, how soon when the SHTF.
 

The other day it was about 15cents away from my next buy point, but didn't break the threshold. Waiting for it to drop to 17 or lower.
 

jim4silver said:
I am starting to think we could drop back to $16 from here fairly quick. Short term chart support (from Jan 2016) is now cleanly broken and not by a little.

What is funny is I was actually starting to feel like silver was ready to go up again a few days before the big drop. I should learn to do the opposite when I get a gut feeling like that.

$SILVER - SharpCharts Workbench - StockCharts.com

Jim
Click to expand...

Jim,

I forget where, but the guy was talking about the drop in silver. Considering what America has yet to go through, silver has got to go up. He compared the current drop in silver to that of a bow and arrow. The farther you pull (silver) back, actually the farther and faster the Silver arrow goes up and distance out. So, think of the drop in prices as having the kinetic power that stored in it to head skyward.

The comparison could be carried one step further, too. The more you pull back on the bow string, the more control and stamina it takes to hold it until the target rise comes into range. It's tiring and it does get painful over time. The closer range allows for smaller, yet quicker target hits/gains. But, it's the full pull, the control to wait for the right time, and the power for long range that will get you to the "trophy" target that rewards and protects the quality of our future way of life....

Just a thought,
Bill

Bill
 

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Bill, that was an excellent synopsis of the way silver is going. I believe the 'Full Pull' will eventually (a yr-?) get the Trophy.
 

But isn't the price based on paper silver? Can't the price be strangled for a long, long time, regardless of physical availability?
 

The price now is based on paper markets. There is no physical drought of silver, in fact I would argue just the opposite. The wholesale distributors are full of silver and premiums are as low as I can remember them in the past few years. Even the mint isn't selling ASEs like they used to.

I have pretty much stopped reading the plethora of BS pro silver articles on the PM sites that I used to read everyday. Same old BS day after day. If any of them ever came out and said they really don't know $hit I would respect them more, but if they said that they might lose their believers (I mean readers).

One day silver will be great but these day to day guessers (PM website article writers) will never be right about when that happens.

Just my opinion.

Jim
 

fistfulladirt said:
But isn't the price based on paper silver? Can't the price be strangled for a long, long time, regardless of physical availability?
Click to expand...

To know how PM's are going to rise, or fall, it appears that the "target" to look for is the trail left by the trend of the ascending or descending value of the U.S. Dollar...



See if this fellow's Dollar Chart makes sense.

Bill
 

Maybe it is time to purchase silver and gold bars and coins. I am not selling my silver dollars for a very long time.
 

H S, you're right about silver dollars. They'll always command a higher price (being a coin) then an ounce of silver. Silver fluctuates, sometimes wildly, while silver dollars (and other silver coins) are barely effected. As for silver, buy low, sell high, or just stack it up.
 

I truly believe you ain't seen nothing yet. What has been keeping the economy going is the treasury has been
selling bonds to the big banks, the fed has been buying them from the banks with a journal entry on the banks books.
It's called adding assets to the fed balance sheet. By law the fed can't buy bonds from the treasury, it's a way of breaking
the law and everyone ignoring it and the big banks getting money for doing nothing but being a conduit. It is creating
money with nothing but journal entries on the fed books. Like paying credit cards with other credit cards, it will stop
at some point and end very badly, this economy will come crashing down, just like the Soviet Union and many many other
countries of the past.

There will be deflation, gold & silver will go way down for awhile, then things will really get interesting ?

Silver around $7, Gold $500
 

Last edited:
Frank Tillman said:
I truly believe you ain't seen nothing yet. What has been keeping the economy going is the treasury has been
selling bonds to the big banks, the fed has been buying them from the banks with a journal entry on the banks books.
It's called adding assets to the fed balance sheet. By law the fed can't buy bonds from the treasury, it's a way of breaking
the law and everyone ignoring it and the big banks getting money for doing nothing but being a conduit. It is creating
money with nothing but journal entries on the fed books. Like paying credit cards with other credit cards, it will stop
at some point and end very badly, this economy will come crashing down, just like the Soviet Union and many many other
countries of the past.

There will be deflation, gold & silver will go way down for awhile, then things will really get interesting ?

Silver around $7, Gold $500
Click to expand...

I agree Frank, what you said will happen at some point, if nothing is done to stop it. There are still a few "tools" in the gov and fed's toolbox not used yet (in many years).

Back in 2002, when Bernanke was not the fed chairman but merely a fed governor, he gave a speech to a bunch of economists and outlined things the fed could do to fight bad deflation. He went on to list many techniques the fed could use. All but one of them was used during the recent QE's. The one not yet used but mentioned (in a positive tone by Bernanke) is a dollar "revaluation". He mentioned the gold call in from 1933 (which in real terms was a dollar revaluation) and went on to say the economy was doing great by 1934.

If things got that deflationary they will try a dollar revaluation, but this time it won't involve gold since gold is not part of the gov monetary system like it was in 1933.

Some say the "elites" tell us what they are going to do before they do it, but most aren't paying attention. Check out the highlights of Bernanke's speech as I mentioned. If you want to read the full text of the speech it is on the fed reserve website.

Also, it is possible the US could default on its debt or try to get debt holders to take a haircut. Trump mentioned this in the past.

Ben Bernanke ? Revisiting The Helicopter Speech | International Man


http://www.forbes.com/sites/timwors...is-just-the-conventional-wisdom/#6317173e5308

Just my opinion.

Jim
 

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Damn! I knew that PM prices would begin to decline if the FED raised the interest rate, but I never expected a PLUMMET! Over a $1 drop in 24 hours and it briefly went under $16.

Going to keep watching but I may be getting ready to buy again.
 

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