Things are sure quiet around here. Is anyone buying at this level? I still think we'll hit $28-29 before we have another sustainable increase. Other's I talk to have said $22-24 but personally that seems a bit optimistic since they're shorting. What are you investment plans right now with silver?
Silver
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jim4silver
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I am buying when I have the extra cash as long as silver stays below 35 bucks. That is the arbitrary cut off level I set for myself a while back. I picked up some slightly blemished Canadian Maples this week for 75 cents over spot.
As much as it disappoints me to see silver rally and get hit back down, I am glad the price stays at this level and hope it does go lower, that is assuming I can still get physical silver at decent premiums. While anything is possible, I don't see silver getting back below the mid 20's (at most) until the bubble finally bursts some day far, far away. Even if paper silver gets that low or lower, nobody is going to find much physical at that price without a super high premium. The large central banks of the world are printing and easing like there is no tomorrow and there is no evidence they are going to stop soon. Just wait until the next Greece-like situation happens in the Euro--maybe Italy, Portugal, Spain....?? Who knows for sure? We will probably be upping our gov debt limit here again before too long as well.
There are some articles recently published stating that each time we get a decent correction in gold, large purchases are being made of the physical metal by huge buyers. It doesn't say who they are but maybe central banks?. Same goes for silver. Many of these are purchases through the LBMA (London bullion market association) from what I have read.
I would not be surprised to see silver get back to the 28/30 level in the near term, but I don't believe we will see lower than that. I still stand by my prediction (guess) that we will see silver get well past the $50 level sometime this year (maybe $60, $70, ......).
All just my opinion.
Jim
As much as it disappoints me to see silver rally and get hit back down, I am glad the price stays at this level and hope it does go lower, that is assuming I can still get physical silver at decent premiums. While anything is possible, I don't see silver getting back below the mid 20's (at most) until the bubble finally bursts some day far, far away. Even if paper silver gets that low or lower, nobody is going to find much physical at that price without a super high premium. The large central banks of the world are printing and easing like there is no tomorrow and there is no evidence they are going to stop soon. Just wait until the next Greece-like situation happens in the Euro--maybe Italy, Portugal, Spain....?? Who knows for sure? We will probably be upping our gov debt limit here again before too long as well.
There are some articles recently published stating that each time we get a decent correction in gold, large purchases are being made of the physical metal by huge buyers. It doesn't say who they are but maybe central banks?. Same goes for silver. Many of these are purchases through the LBMA (London bullion market association) from what I have read.
I would not be surprised to see silver get back to the 28/30 level in the near term, but I don't believe we will see lower than that. I still stand by my prediction (guess) that we will see silver get well past the $50 level sometime this year (maybe $60, $70, ......).
All just my opinion.
Jim
Marchas45
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I'm with you Jim, I don't see it going below $30.00 anytime soon but then again who knows. I'm still buying also when I can get a good deal and I'm waiting to see what happens in the next few days with the markets before I buy a bunch more. I think Silver is going to explode in the near future. As everyone else says on this topic, "Just My Opinion". 
Charlie
P.S. I'm glad for you Jim as the Platinum is moving up, I should have bought when you told me to.
CharlieP.S. I'm glad for you Jim as the Platinum is moving up, I should have bought when you told me to.
jim4silver
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Marchas45 said:I'm with you Jim, I don't see it going below $30.00 anytime soon but then again who knows. I'm still buying also when I can get a good deal and I'm waiting to see what happens in the next few days with the markets before I buy a bunch more. I think Silver is going to explode in the near future. As everyone else says on this topic, "Just My Opinion".
P.S. I'm glad for you Jim as the Platinum is moving up, I should have bought when you told me to.
I think you are better off being in silver. If I could go back I would have rather put the money I put into Platinum into silver instead. Yes it would have been a good buy a few months ago, but I bought mine before the price crashed months ago so I am just now getting to the break even point. I think Platinum will go ahead of gold for now, but since it is highly an industrial metal, any downturn in the auto market will affect price more than silver or gold, etc.
For me it is just silver and some gold from here on out.
Jim
- Thread starter
- #5
Like you guys I don't think anyone can go wrong buying silver at these prices. Maybe I'll start shopping around some more for anything under $35 too. If we do get to $29 then I'll just buy some more if I can. I'm a youngster by comparison to most silver investors so if something were to happen I can wait for prices to increase again barring any unforeseen personal financial problem. With regards to platinum, what is the best way to buy that? I've rarely seen it for sale in the local shops. Do you buy bar or coin?
jim4silver
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mikeg10 said:
I found bars had the lowest premiums. Most local stores did not keep a large supply on hand because they did not seem to have much demand for it from what I was told.
Jim
Marchas45
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I only buy my Platinum in coin form as I can sell if I had to, as there are buyers for the numismatic value and buyers for the PM value but that's just me. As Jim says it's an Industrial metal but coin collectors like them also. Charlie
jarlbartar
Full Member
I just bought the other day - i forget what it was at, 33.62 or something. I just implemented my own program in that I plan to buy at least 1 ounce every time I get paid. There is a coin shop near my home that has pretty good prices. I consider myself a long term investor and plan to keep buying, possibly until it hits 50, then i will have to re evaluate my strategy depending on finances and other factors. Just wish I had more money to throw around and perhaps grab some gold when its down, but every little bit of silver helps.
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- #9
I hear ya Jarlbartar, wish I could snag some gold on the dips too but I guess silver is where I'll have to be for now. Besides, the potential return on silver looks to be more promising than gold anyway. Volatility is sometimes a good thing. Just wish that we'd get this dang dip in silver out of the way so we can start heading up again. Silver prices always seem to be hurry up and wait. Good luck on your stacking 
jim4silver
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It always surprises me (it shouldn't by now) that whenever there is a correction in PMs, you start reading or hearing how this is it and the bull market is over. It is difficult sometimes to remain bullish when the price keeps getting knocked down due to manipulation or whatever forces are out there that seem to short sell huge amounts of paper silver that drive down the price. But I have my PMs not to flip like some penny stock, but instead as "insurance" for what I believe is most likely coming in the months or years ahead. While buying silver in the 30s seems like a high price considering when I got into PMs it was around 10 dollars, the amount of debt in the world has exploded in that same time period so I guess it is all relative. The national debt went from around 10 Trillion to near 16 Trillion in the last 4 years.
I have said before and I still believe that we will not see super high PM prices (silver 70-100+ per ounce) unless and until the physical market splits from the paper market. While paper contracts for PMs can be bought and sold all day in whatever amounts they want, physical metals have to be mined to exist. Right now the physical market price is dictated by the paper price, but that is good because I believe once such a split occurs, the physical price is going much higher and will be out of reach for me to buy anymore. Right now the PM market is being tossed around by "investors" who want to make a quick buck or have a nice annual return for their hedge funds, etc. As soon as they get scared or believe another paper market will give better results (like bonds or the stock market, etc), they will flee to it and dump their PMs.
I do find it hard to believe that there are still people in the investment world (like you see on cable financial channels) that really believe all the excessive debt, printing and QE, etc, will have no bad effects on the dollar or world economies over the long haul. Some even say we are having an economic recovery nowadays to some extent. With our national debt growing by the trillions, I don't see how that is possible. That would be like an individual with unlimited access to credit cards running up countless debt and never paying it off, yet proclaiming they are in good financial condition or even "wealthy" because they can keep tapping new credit cards. Having cash to spend and being in good financial condition are not the same thing in my opinion (assuming that said debt will have to be repaid someday). If, and this is a big IF, said gov debt has to ever be repaid, how will it be done? Will there be a time when all of the sudden we have huge economic surpluses in our country that are used to pay down the debt? We cannot even have a balanced budget let alone a surplus.
Until all the above gets fixed somehow, I fail to see how PMs are a bad "investment" for the long haul (that is the next 1 to 5 years, or maybe more). Maybe I will be proved wrong over time but I don't think so.
PS I do think it is highly possible that the stock market will keep rising as long as they keep up the QE and such. Although I am out of the stock market for now it could bring good returns for the near to mid term for those who are in the right stocks. But the risk is always there that we revisit 2008 if some big bank bites the dust, etc. and the market tanks. They recently did some bank stress tests there that tested what would happen if certain things occurred, one being a 50% drop in stock prices. The fact they are "testing" for such a calamity makes me think. Too much risk for me to take.
Just my opinion.
Jim
I have said before and I still believe that we will not see super high PM prices (silver 70-100+ per ounce) unless and until the physical market splits from the paper market. While paper contracts for PMs can be bought and sold all day in whatever amounts they want, physical metals have to be mined to exist. Right now the physical market price is dictated by the paper price, but that is good because I believe once such a split occurs, the physical price is going much higher and will be out of reach for me to buy anymore. Right now the PM market is being tossed around by "investors" who want to make a quick buck or have a nice annual return for their hedge funds, etc. As soon as they get scared or believe another paper market will give better results (like bonds or the stock market, etc), they will flee to it and dump their PMs.
I do find it hard to believe that there are still people in the investment world (like you see on cable financial channels) that really believe all the excessive debt, printing and QE, etc, will have no bad effects on the dollar or world economies over the long haul. Some even say we are having an economic recovery nowadays to some extent. With our national debt growing by the trillions, I don't see how that is possible. That would be like an individual with unlimited access to credit cards running up countless debt and never paying it off, yet proclaiming they are in good financial condition or even "wealthy" because they can keep tapping new credit cards. Having cash to spend and being in good financial condition are not the same thing in my opinion (assuming that said debt will have to be repaid someday). If, and this is a big IF, said gov debt has to ever be repaid, how will it be done? Will there be a time when all of the sudden we have huge economic surpluses in our country that are used to pay down the debt? We cannot even have a balanced budget let alone a surplus.
Until all the above gets fixed somehow, I fail to see how PMs are a bad "investment" for the long haul (that is the next 1 to 5 years, or maybe more). Maybe I will be proved wrong over time but I don't think so.
PS I do think it is highly possible that the stock market will keep rising as long as they keep up the QE and such. Although I am out of the stock market for now it could bring good returns for the near to mid term for those who are in the right stocks. But the risk is always there that we revisit 2008 if some big bank bites the dust, etc. and the market tanks. They recently did some bank stress tests there that tested what would happen if certain things occurred, one being a 50% drop in stock prices. The fact they are "testing" for such a calamity makes me think. Too much risk for me to take.
Just my opinion.
Jim
Marchas45
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Didn't go below $30.00 I'm buying as I see it's gonna head back up on Monday. Charliejim4silver
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Marchas45 said:
Monday could be a good or bad day for PMs. Monday is the big auction for credit default swaps related to the Greece default. I honestly don't know exactly what is going to happen or the ramifications and so far have found no online articles that clearly explain what is going to happen, but it does seem to be a big event either way.
I predict PMs will go up or down due to the auction.
Jim
Marchas45
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jim4silver said:Marchas45 said:
Monday could be a good or bad day for PMs. Monday is the big auction for credit default swaps related to the Greece default. I honestly don't know exactly what is going to happen or the ramifications and so far have found no online articles that clearly explain what is going to happen, but it does seem to be a big event either way.
I predict PMs will go up or down due to the auction.
Jim
I don't know if I'm being paranoid or not Jim but people are saying watch out for March 22nd or 23rd
but be ready just in case. CharlieTop Member Reactions
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