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Gold is already hit $1355!

 

So we're at the top end of your range, another day like this and we'll be at the bottom end.

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Gold is already hit $1355!

 

So we're at the top end of your range, another day like this and we'll be at the bottom end.

 

Yes I think Silver is stronger than gold and could hold up above 18 but I doubt it, however 18 in silver wont be a shock this market move has been coming for sometime the weak hands will be running for the door, the strong hands will be happy to take it away from them ready for the big move up!

 

regards

 

ML

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Hi Pd,

 

I did, I think we will see $18-19 silver, $1275- $1349 Gold

 

I posted these figures some time ago.

 

Regards

 

ML

 

 

Hi ML

 

Can I ask why you thought they would drop to these levels?

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Hi ML

 

Can I ask why you thought they would drop to these levels?

 

Somebody I can't remember who used to say “Only rockets go straight to the moon"

That’s the case for Gold and Silver, this action will bring supply back to the market at some point from weak holders!

The strong hands will collect up late into this fall then distribute it back to another set of weak hands further down the line. Who will buy as it goes back up above 1850-1900 area and Joe public are told it is going to the moon again by the press.It looks bad on a daily basis but if you look at at it, it is just a blip! The underlying fundamentals haven't changed QE is causing real inflation the best hedge against inflation in liquid forms are PM.

However don't try to catch the falling knife ! Let the market bottom then retest and then buy in !

Regards

 

ML

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Far out. Oh well, days like this confirm why you put half of your disposable into real assets, and remind you that it was never going to be easy.

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I suspect some dealers are unwilling to sell bullion at a loss at these lower prices. They will just say they are sold out. Understandable, and good news for longterm investors.

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I followed that link Wee Jinky posted about silver being sold out. At the bottom of the page it links to similar articles, including one about Sprott Money being sold out of silver. I clicked on that and noticed the article was from Sept 2011.

 

So go look at a chart of silver and see what happened in sept 2011. What I saw was a price smash.

 

So physical is impossible to get and there is a crash in price. . . Which came first in 2011?

 

Perhaps this latest "crash" is a silver-release mechanism?

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img src=http://stockcharts.com/c-sc/sc?s=$SILVER&p=D&st=2011-09-10&en=2011-10-31&i=t83078827011&r=1366086707446

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Be careful with PSLV !

 

Sprott Physical Silver Trust - a steady underperformer!

 

Two reasons:

+ It went to a huge premium to its Silver NAV, and has gradually given that up

+ There have been periodic shares sales at a price discount*

+ Latest Premium to NAV: $???

 

Detail at : Feb. 28, 2013

 

NAV : $11.15 USD

(49.288 mn shs x $xx = $ccc / 127.37mn shs)

Prices:

PSLV : $11.34 USD (+1.70%)

Premium :

SLV- : $27.54

Ratio : 41.18%

Latest : $9.16 / $22.665 : 40.41% (4/16)

===

/see: http://sprottphysica...v-one-pager.pdf

 

Charts

RATIO

angely.png

 

PSLV vs. SLV - Latest ... update

47394717.gif

 

PSLV vs. SLV - Longer Term ... update

98405975.gif

=========================

 

*News Report: Jan. 18, 2012

 

Sprott Physical Silver sells 23M units at discount

By Tess Stynes

Sprott Physical Silver Trust PSLV -0.33% is selling 23 million of its units at a 9.3% discount to Tuesday's close to raise funds to acquire physical silver bullion.

The Toronto-based company's units were down 9.3% at $13.20 in early trading, reflecting the sale price of $13.20 a unit.

Sprott Physical was created to hold investment firm Sprott Asset Management LP's silver assets. The company filed plans in November to offer as much as $1.5 billion worth of units through a shelf registration.

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This chart could suggest a low in Silver at just below $20

 

Silver could trade below $20, if/when Gold retests

 

slv.gif

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And what about Silver Miners? (ETF SIL)

 

This is the ratio of SIL to SLV;

SILtoSLV_zpsc4dbe546.png

Relative to silver the miners seem good value.

 

 

SIL;

SIL_zps6b823eec.png

 

Very recently SIL was trading at a lower valuation than when silver was at $18.

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SLW (Grey) with Silver futures (Blue);

 

SLW2_zps11070fea.png

 

At silver's recent low SLW hit $21.79, the same level it was at in August 2010, just before silver embarked on it's huge rally.

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I bought one of those 2 weeks ago for €670 from

http://gold-silver.be/fr/51-snake-1-kilo-2013.html

It's a stunning coin ,I showed it to a workmate and he ordered a 1kg snake a 1kg koala and a 1kg kookaburra

and that was his 1st ever purchase of silver

my largest coin before this buy was a 5 oz America the beautiful (gettysburg)

which I was rather dissapointed in

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Be especially careful with Silver longs here.

From DrB's Diary:

 

 

may232013_1.jpg

 

Silver Looks Set To Re-Visit Previous Support At $18.00 - by Bob Kirtley , May 23 2013 1:48PM

I’m reluctant to increase my exposure to silver mining companies at the moment as I’m not convinced that we have been through a 'total' capitulation. This is a capitulation of sorts but there could be more downside before we see any upside movement. The next support level for silver is around the $18.00/oz level and if this current trend continues we could see this level tested before we see a resumption of the rally in silver prices. If silver does drop another four bucks or so the silver mining stocks will take a serious hammering. However, should silver be able to hold and consolidate at those levels then we should be looking at the buying opportunity of a lifetime.

 

What is the Meaning of GLD Gold Outflows? - by Keith Weiner , May 23 2013 1:37PM

 

may232013_1.png

 

may232013_4.png

 

I believe that in 2013, retail traders have been relatively reluctant to sell SLV compared to GLD. Unlike in GLD, it has not been as profitable to destroy SLV shares and so the number of ounces held has been moving sideways since late 2011 (though it may be breaking down now). Is this capitulation in gold? Is it a sign of strength in silver? Is it the harbinger of capitulation yet to come in silver?

For all of 2013, I have been bearish on silver in gold terms and have been calling for a rising gold:silver ratio. The ratio has moved up 10 points so far, and I do not believe it is over. My personal assessment is that market participants have reached a major low in gold sentiment. It feels like capitulation and despair in gold. But somehow in spite (or because) of this and despite silver’s bigger price drop, traders still cling to hope against hope in silver. Against a backdrop of credit stress and falling industrial production worldwide, this seems a risky bet.

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