G0ldfinger Posted August 17, 2009 Report Share Posted August 17, 2009 The plunge in silver is nice for people who want to load up more. I'm currently not sure what I am going to buy next (Au, Ag, Pd, maybe even some Pt?). I won't sell any silver before $100/oz since I am not trading the ratio (or anything for that matter). Of course, this ($100/oz silver) might be take a few more years (2-5?). Link to comment Share on other sites More sharing options...
bazmercer Posted August 17, 2009 Report Share Posted August 17, 2009 Thanks for the correction. I didn’t know that. And thanks to id5 for the extra information Silver IS currency. http://www.iso.org/iso/currency_codes_list-1 Were you stopped in Dublin or Manchester? Dublin, on the way out during security screening. Like I said, they let me go. I don't think they care about what it is so long as it is unlikely to explode. Link to comment Share on other sites More sharing options...
romans holiday Posted August 17, 2009 Report Share Posted August 17, 2009 Ziknik, 14.83 Me, $18 Whoops, $16 InSiverWeTrust, $25 [though in 5 months] Pixel8r, $30 And Goldfinger, presumably at $100 plus. I think it would be fair to say that if silver went below 13.80 the current uptrend would be broken Well, looks like the up-trend is broken for now. Well done Z, here is your virtual prize! Now, who would like to guess how long it will go? Link to comment Share on other sites More sharing options...
Oddball Posted August 17, 2009 Report Share Posted August 17, 2009 Well, looks like the up-trend is broken for now. Well done Z, here is your virtual prize! Now, who would like to guess how long it will go? How low? I'd say the $10 mark before we get a decent bounce - then down again. Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 17, 2009 Report Share Posted August 17, 2009 RPI-adjusted Silver: was from 1974 to 1985 (or so) above 10 pounds, and even for quite a while above 20 pounds (hitting over 70 pounds for a few days). We've wasted a lot of silver since then, it's non-renewable. Silver today (London spot) is trading at 8.67 pounds. Any questions? http://gold.approximity.com/since1968/Silv...BP_RPI-adj.html Link to comment Share on other sites More sharing options...
DoctorSolar Posted August 17, 2009 Report Share Posted August 17, 2009 Well, looks like the up-trend is broken for now. Well done Z, here is your virtual prize! Now, who would like to guess how long it will go? Im siding with Bob Hoye and can see the gold/silver ratio going out to around 80+ I also side with you RH that a floor for gold sits around 900 USD. I doubt the low in gold will align with the widest point in the GS ratio i.e. gold will rally before silver does. So all in all roughly 11.50 USD as the low seems reasonable. Link to comment Share on other sites More sharing options...
aardvark Posted August 17, 2009 Report Share Posted August 17, 2009 RPI-adjusted Silver: was from 1974 to 1985 (or so) above 10 pounds, and even for quite a while above 20 pounds (hitting over 70 pounds for a few days). We've wasted a lot of silver since then, it's non-renewable. Silver today (London spot) is trading at 8.67 pounds. Any questions? http://gold.approximity.com/since1968/Silv...BP_RPI-adj.html i'm with you GF - it HAS to go up at some point, its inevitable. Link to comment Share on other sites More sharing options...
romans holiday Posted August 17, 2009 Report Share Posted August 17, 2009 RPI-adjusted Silver: was from 1974 to 1985 (or so) above 10 pounds, and even for quite a while above 20 pounds (hitting over 70 pounds for a few days). We've wasted a lot of silver since then, it's non-renewable. Silver today (London spot) is trading at 8.67 pounds. Any questions? How low can it go? Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 17, 2009 Report Share Posted August 17, 2009 How low can it go? We obviously had very low prices for a couple of decades (less than half of today's). I'd say it's a very risky gamble to hope for these kind of prices again. Link to comment Share on other sites More sharing options...
romans holiday Posted August 17, 2009 Report Share Posted August 17, 2009 How low? I'd say the $10 mark before we get a decent bounce - then down again. Yes, I am not too worried about the lows..... the main thing is to buy at low prices. If you miss the opportunity to sell on a wave up, no big deal, just wait for the next wave because it will come. Now is tanking incredibly against Yen and will be looking to buy in the next few days... am not so fussy buying at the bottom as I am about selling at the top. Link to comment Share on other sites More sharing options...
romans holiday Posted August 17, 2009 Report Share Posted August 17, 2009 Im siding with Bob Hoye and can see the gold/silver ratio going out to around 80+ I also side with you RH that a floor for gold sits around 900 USD. I doubt the low in gold will align with the widest point in the GS ratio i.e. gold will rally before silver does. So all in all roughly 11.50 USD as the low seems reasonable. Yes, i wonder though if this will be the big turn. The Wall Street types may have got a bit of a fright but they were, after all, al lining up to buy the Dow on a dip. This might happen yet. I just wonder if the inflation trade has been wound up enough yet. Then when the unwind comes it should be spectacular a la Hoye. I am sticking with a post QE floor for gold of 900. Link to comment Share on other sites More sharing options...
Pixel8r Posted August 17, 2009 Report Share Posted August 17, 2009 Yes, i wonder though if this will be the big turn. The Wall Street types may have got a bit of a fright but they were, after all, al lining up to buy the Dow on a dip. This might happen yet. I just wonder if the inflation trade has been wound up enough yet. Then when the unwind comes it should be spectacular a la Hoye. I am sticking with a post QE floor for gold of 900. We just bounced off your $13.8 bottom of the silver up channel. Link to comment Share on other sites More sharing options...
ziknik Posted August 17, 2009 Report Share Posted August 17, 2009 Well, looks like the up-trend is broken for now. Well done Z, here is your virtual prize! ... Now, who would like to guess how long it will go? Thanks, I’m going to pop that coin in my signature for one post (this one). I’m sticking with my prediction. I don’t think we will see silver below £7.50 or $12.00. I’m not in anyway changing my buying patterns btw, I will buy a little in GoldMoney each week and hold it. ----------------- Link to comment Share on other sites More sharing options...
romans holiday Posted August 18, 2009 Report Share Posted August 18, 2009 We just bounced off your $13.8 bottom of the silver up channel. Yes, but the immediate momentum was broken, so threw in the towel [but didn't sell my silver...just 10%], even though technically 13.80 held. Silver might track sideways just a little here before pushing up again... looks like there is a bit more life in this inflation trade yet. The ratio reversed to 67 but is now nearing 66 and back on track. Link to comment Share on other sites More sharing options...
Pixel8r Posted August 18, 2009 Report Share Posted August 18, 2009 Yes, but the immediate momentum was broken, so threw in the towel [but didn't sell my silver...just 10%], even though technically 13.80 held. Silver might track sideways just a little here before pushing up again... looks like there is a bit more life in this inflation trade yet. The ratio reversed to 67 but is now nearing 66 and back on track. I have been siting in physical silver for over a year now and I am getting used to these daily swings and don't feel the need to sell. It is just a matter of time before it recovers and surpasses the prices. I think silver will be going to over $100 within the next 3 years. Out of interest what silver do you hold, physical at goldmoney? Link to comment Share on other sites More sharing options...
romans holiday Posted August 18, 2009 Report Share Posted August 18, 2009 I have been siting in physical silver for over a year now and I am getting used to these daily swings and don't feel the need to sell. It is just a matter of time before it recovers and surpasses the prices. I think silver will be going to over $100 within the next 3 years. Out of interest what silver do you hold, physical at goldmoney? I have kilo bricks in a private vault, but most of the silver I am in now is with GoldMoney. I only want to sit on gold at GoldMoney, I am happy to trade my silver for Yen though of course with the aim of accumulating silver ounces. I certainly would not want to feel the need to sell when silver dives. Buy on weakness and sell on strength is my policy [only with trading funds mind, like most here I have a core position which is held]. Link to comment Share on other sites More sharing options...
Pixel8r Posted August 18, 2009 Report Share Posted August 18, 2009 A gentleman in Las Vegas who paid everyone in gold and silver coins and then tried to use the coin's face value for tax purposes. It was no surprise he was found guilty. The story is from the Las Vegas Review-Journal and is headlined "Las Vegas businessman Kahre guilty of 57 counts" - Ed Steer http://www.lvrj.com/news/53287717.html Link to comment Share on other sites More sharing options...
Icarus Posted August 18, 2009 Report Share Posted August 18, 2009 A gentleman in Las Vegas who paid everyone in gold and silver coins and then tried to use the coin's face value for tax purposes. It was no surprise he was found guilty. The story is from the Las Vegas Review-Journal and is headlined "Las Vegas businessman Kahre guilty of 57 counts" - Ed Steer http://www.lvrj.com/news/53287717.html So make sure you don't pay for anything in copper pennies, as the metal is worth more than the face value of the coin. Same goes for pre-'65 silver coins . This ruling makes a mockery of the whole fiat system. Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted August 18, 2009 Report Share Posted August 18, 2009 check this out.......... http://cgi.ebay.co.uk/SILVER-INGOT-1-9-kg-...id=p3286.c0.m14 Link to comment Share on other sites More sharing options...
HPCsoYESTERDAY Posted August 18, 2009 Report Share Posted August 18, 2009 Yes, but the immediate momentum was broken, so threw in the towel [but didn't sell my silver...just 10%], even though technically 13.80 held. Silver might track sideways just a little here before pushing up again... looks like there is a bit more life in this inflation trade yet. what about daily though (rather than 4hr etc)... iirc, hoye got it wrong a while back, i don't know but sometimes i think some of the commentators have a too much vi for me.. http://www.youtube.com/watch?v=S6BJ3CvPLhs now watch the price tank once i post this ps - romans, you talk about the monetization of gold with a qe floor of 900, could we be seeing the monetization of silver Link to comment Share on other sites More sharing options...
romans holiday Posted August 18, 2009 Report Share Posted August 18, 2009 what about daily though (rather than 4hr etc)... iirc, hoye got it wrong a while back, i don't know but sometimes i think some of the commentators have a too much vi for me.. http://www.youtube.com/watch?v=S6BJ3CvPLhs now watch the price tank once i post this ps - romans, you talk about the monetization of gold with a qe floor of 900, could we be seeing the monetization of silver I think silver will be eventually monetized. But not yet and should remain very volatile. It is pretty much tied to the commodities complex at the moment and seems to me the perfect risk averse trade.... while the market is trading risk. Trade it for Yen and if you get the timing wrong, or miss a wave up, what does it matter as you are still essentially in two strong currencies where you can be sure capital will continue to flow between them. Link to comment Share on other sites More sharing options...
wren Posted August 18, 2009 Report Share Posted August 18, 2009 Trade it for Yen and if you get the timing wrong, or miss a wave up, what does it matter as you are still essentially in two strong currencies where you can be sure capital will continue to flow between them. At GoldMoney if you hold multiple currencies does it give the grand total in your "home" currency? I know that silver and euros are given a grand total in euros. Link to comment Share on other sites More sharing options...
ziknik Posted August 18, 2009 Report Share Posted August 18, 2009 At GoldMoney if you hold multiple currencies does it give the grand total in your "home" currency? I know that silver and euros are given a grand total in euros. Yes, you will see your total in Euro You can change your home currency at any time. Click ‘profile & settings’ then ‘preferences’ Link to comment Share on other sites More sharing options...
wren Posted August 18, 2009 Report Share Posted August 18, 2009 Yes, you will see your total in Euro You can change your home currency at any time. Click ‘profile & settings’ then ‘preferences’ Thanks. Link to comment Share on other sites More sharing options...
G0ldfinger Posted August 18, 2009 Report Share Posted August 18, 2009 Does anyone want to draw a few lines? http://gold.approximity.com/since1968/Gold...er_Scatter.html Link to comment Share on other sites More sharing options...
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