Author Topic: Will silver go below $19/oz?  (Read 19289 times)

Offline CharlesH

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Will silver go below $19/oz?
« on: May 01, 2014, 07:13:32 PM »
Remember when we were all wondering if silver could drop below $20/oz?  I imagine the thread can still be found here.  Those are starting to seem like the good old days, aren't they?  So what are the latest prognostications on what is happening to pressure precious metals?
 
For the record I continue to buy a small amount of precious metals each year, both gold and silver.  I am not buying for a quick profit but as a way to further diversify my investments.  The fact the market is dropping is not changing my strategy.

Offline fritz_monroe

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Re: Will silver go below $19/oz?
« Reply #1 on: May 01, 2014, 07:17:36 PM »
As of 9 p.m. eastern time silver was at $19.02. 

And yes, I think it will go below $19.

Up until the beginning of the year I was buying a set dollar amount of silver every 2 weeks.  I stopped for a while but just started back up.  I hope to be able to keep going.  I'm a long term silver buyer.

Offline gopack84

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Re: Will silver go below $19/oz?
« Reply #2 on: May 01, 2014, 08:05:40 PM »
Buy when it's on sale! 8)

nelson96

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Re: Will silver go below $19/oz?
« Reply #3 on: May 01, 2014, 10:07:00 PM »
 :popcorn: . . .  I don't watch spot very well.  You guys let me know when it drops below $19 and I'm in for another large purchase.

Offline Chemsoldier

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Re: Will silver go below $19/oz?
« Reply #4 on: May 01, 2014, 10:18:18 PM »
One can hope!

Offline The Professor

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Re: Will silver go below $19/oz?
« Reply #5 on: May 01, 2014, 10:49:39 PM »
Yes, it will.

The Professor

Offline ncjeeper

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Re: Will silver go below $19/oz?
« Reply #6 on: May 02, 2014, 01:11:29 AM »
Of course it will because I just bought some @ $19.53.  :-\ That's my luck.

Offline David in MN

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Re: Will silver go below $19/oz?
« Reply #7 on: May 02, 2014, 07:37:54 AM »
I've always allocated some money for precious metals but of late I've gone 100% silver. I used to mix gold, silver, and platinum but I just can't shake the feeling that this is the sale of the century on silver. As the price drops I do cartwheels and buy more.

I'm a little odd in the fact that I don't see it as an investment. I intend to one day hand a trunk of metals to future generations, like my grandparents did.

Offline theBINKYhunter

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Re: Will silver go below $19/oz?
« Reply #8 on: May 02, 2014, 08:04:43 AM »
glad this thread popped up, i haven't checked silver in a while with everything else going on.

jmbullion is now offering silver bullets: http://www.jmbullion.com/silver/silver-bullets/

Offline ID_Joker

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Re: Will silver go below $19/oz?
« Reply #9 on: May 02, 2014, 09:20:14 AM »
Don't worry guys.  I'll continue to buy when I can and drive the price down for you.  Give me a few months and I'll probably have it at $5 per ounce.   :-\

Offline The Professor

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Re: Will silver go below $19/oz?
« Reply #10 on: May 02, 2014, 10:42:33 AM »
Silver dropped this morning to $18.85 very shortly, then climbed back up over the 19.00 mark to 19.55 at the time of this post.

Expect a second dip in the very near future, possibly even today.   If it doesn't happen today, Monday morning is your best bet.

The Professor

Offline EagleSteel

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Re: Will silver go below $19/oz?
« Reply #11 on: May 02, 2014, 01:36:40 PM »
Silver dropped this morning to $18.85 very shortly, then climbed back up over the 19.00 mark to 19.55 at the time of this post.

Expect a second dip in the very near future, possibly even today.   If it doesn't happen today, Monday morning is your best bet.

The Professor

Silver still has to drop below $17 before the long term bull trend can return and head to new highs. My guess that will happen in the middle of the summer just because the metals tend to not do so well that time of the year.

Offline Sativa

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Re: Will silver go below $19/oz?
« Reply #12 on: May 10, 2014, 04:22:25 PM »
I rather think that any higher price will require other/general prices to also catch up more with silvers of the last decade.
And if that doesn't happen, a more stable price trend appears logical to me.
Instability is due to faulty information / errors, mistakes teach lessons, me no exception.
For what it matters to me, I'll continue saving in it, while trying to do better than in the past. It would be silly to buy it at higher prices to then stop buying it at lower.

By the way, a hello. My survival skills, except for purchasing stocks of things I can already now instead of in a future, is nil. It will take more to get me in a garden cultivating food, but just reading about it, getting at least a clue, is more of an option.

Offline Chemsoldier

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Re: Will silver go below $19/oz?
« Reply #13 on: May 10, 2014, 04:34:15 PM »
I rather think that any higher price will require other/general prices to also catch up more with silvers of the last decade.
And if that doesn't happen, a more stable price trend appears logical to me.
Instability is due to faulty information / errors, mistakes teach lessons, me no exception.
For what it matters to me, I'll continue saving in it, while trying to do better than in the past. It would be silly to buy it at higher prices to then stop buying it at lower.

By the way, a hello. My survival skills, except for purchasing stocks of things I can already now instead of in a future, is nil. It will take more to get me in a garden cultivating food, but just reading about it, getting at least a clue, is more of an option.
Welcome! There is a thread for introductions around here somewhere.  Dont worry, we all started at some point...except Cedar, I am fairly certain she sprang into being knowing how to homestead.

Offline TexDaddy

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Re: Will silver go below $19/oz?
« Reply #14 on: May 10, 2014, 05:04:28 PM »
...except Cedar, I am fairly certain she sprang into being knowing how to homestead.
I guarantee it.  8)

Offline David in MN

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Re: Will silver go below $19/oz?
« Reply #15 on: May 10, 2014, 05:37:08 PM »
I'm still buying silver.

Oh, Cedar has a permanent ally in the frozen north. Mess with her, mess with me.

It's all in good fun.

Offline Sativa

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Re: Will silver go below $19/oz?
« Reply #16 on: May 10, 2014, 06:31:42 PM »
As of recent days, I again swapped what I had for silver, this time no standard bullion, but most of a dealer stock of AOCS and similar coins, and when I digged for more information about them, as to put them in my stack databook (hehe!), I came across here. If the price drops further, well, I guess that in a next purchase, I again receive more silver for the fiat. I learnt some methods to determine the better moments, no luxury since I bought most of it in 2011, albeit never higher than $32, compared to today, not good!

Offline CharlesH

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Re: Will silver go below $19/oz?
« Reply #17 on: September 11, 2014, 01:01:25 PM »
Its back in that under $19/oz range today.  I buy on a schedule and this is not my time to buy, but it might be an opportunity for someone who was thinking about diversifying into precious metals a bit to start.

Offline ncjeeper

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Re: Will silver go below $19/oz?
« Reply #18 on: September 11, 2014, 02:43:00 PM »
Its back in that under $19/oz range. it might be an opportunity for someone who was thinking about diversifying into precious metals a bit to start.
I agree.

Offline xxdabroxx

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Re: Will silver go below $19/oz?
« Reply #19 on: September 19, 2014, 07:17:41 PM »
So what do you all think, is this the start of a trend to a new lower silver price or is it simply a lull that we should be jumping on?  Think it will rise over the weekend and the drop lower again next week? 

I'm just starting to buy silver and don't have much experience but I'm interested in the market.  The constant changing price intrigues me.

Offline theBINKYhunter

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Re: Will silver go below $19/oz?
« Reply #20 on: September 22, 2014, 10:13:05 AM »
So what do you all think, is this the start of a trend to a new lower silver price or is it simply a lull that we should be jumping on?  Think it will rise over the weekend and the drop lower again next week? 

I'm just starting to buy silver and don't have much experience but I'm interested in the market.  The constant changing price intrigues me.

Not sure why you are buying silver. I personally buy it as a hedge and protection for my money. I like Jack's advice of only having about 5-10% of your total worth in silver. I buy for the long haul and don't really plan on selling unless it gets to be really (IMO) overpriced compared to when I bought it. Then I will sell some, wait for prices to come back down, and buy more.

nelson96

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Re: Will silver go below $19/oz?
« Reply #21 on: September 22, 2014, 11:48:42 AM »
I like Jack's advice of only having about 5-10% of your total worth in silver.

Total WORTH, or total NET (liguid) worth?

If you factor in all my assets (retirement, home, property, vehicles, equipment, etc., etc.)  5-10% would be a lot.  If you're just talking about personal savings (liquid cash), that's a much lower number.  Right now I actually have more monitary value wrapped up in silver than I do my savings account (I know, stupid, stupid, stupid), but that's one of my goals to fix.  But I have no where near 5-10% of my total assets in silver, unless you only consider the 401K money I could access today (after taxes and penalties for removing early). . . .  What are others doing?

Offline Zef_66

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Re: Will silver go below $19/oz?
« Reply #22 on: September 22, 2014, 01:36:59 PM »
Total WORTH, or total NET (liguid) worth?

If you factor in all my assets (retirement, home, property, vehicles, equipment, etc., etc.)  5-10% would be a lot.  If you're just talking about personal savings (liquid cash), that's a much lower number.  Right now I actually have more monitary value wrapped up in silver than I do my savings account (I know, stupid, stupid, stupid), but that's one of my goals to fix.  But I have no where near 5-10% of my total assets in silver, unless you only consider the 401K money I could access today (after taxes and penalties for removing early). . . .  What are others doing?

Jack's recommendation was 5-10% of total worth. Everything from equity in your house to cars, to all possessions. Everything.

Now I have nowhere near that. But I'm working on it.

And yes, I agree that it sounds like you need more cash reserves before buying more silver.

Offline CharlesH

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Re: Will silver go below $19/oz?
« Reply #23 on: September 22, 2014, 01:41:42 PM »
I am way below 5% of total worth as well.  I think most people would consider that 5-10% number to be as a petcent of your investment portfolio, separate from real estate, other real assets, and emergency/non-emergency savings.  I don't know which number Jack was referring to either, but because I have a small farm, trying to get to an amount of precious metals equal to 5-10% of my total assets would take a long time, and actually not be a good mix for me.
 
Right now I try to buy about 40oz of silver a year and a few ounces of gold if I can afford it (this year we could not afford it!).  I already have my silver for this year so I am not buying at the moment. 

Offline SuburbanGardener

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Re: Will silver go below $19/oz?
« Reply #24 on: September 22, 2014, 01:55:28 PM »
I wish that silver would continue to drop indefinitely.  Whatever it does, you know it won't go to zero (barring a giant asteroid of pure silver striking the Earth), and eventually, given our current economy, it will go up, relative to the dollar.

I'm new to silver.  Trying to buy a few ounces every month... can't afford to do more until I get rid of the debts.  But I figure that in a year, I'll have at least a start.

Offline Gunnywag

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Re: Will silver go below $19/oz?
« Reply #25 on: September 22, 2014, 03:04:31 PM »
Wow - silver currently at $17.72

nelson96

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Re: Will silver go below $19/oz?
« Reply #26 on: September 22, 2014, 05:02:45 PM »
I have a small farm, trying to get to an amount of precious metals equal to 5-10% of my total assets would take a long time, and actually not be a good mix for me.

Same here.  Besides, the equipment, buildings, fencing, etc. that I'm collecting to support the farm will some day prove to be good as gold.

Offline CharlesH

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Re: Will silver go below $19/oz?
« Reply #27 on: September 22, 2014, 07:00:35 PM »
Same here.  Besides, the equipment, buildings, fencing, etc. that I'm collecting to support the farm will some day prove to be good as gold.

Agreed.  I actually see all those things you listed, plus precious metals, as part of the same asset class.  An environment that inflates the value of precious metals seems likely (to me at least) to be one that will also inflate the value of real estate.  And in the absence of that kind of inflation my farm, equipment and livestock provide virtually all our protein.  Silver don't taste as good as grass fed beef...
 
For me the precious metals are still valuable.  In hyper inflation I could see where my property taxes might go up faster than my salary. And as a private school teacher off farm I am not sure my job would be secure either.  Precious metals, which I would hope were following inflation, would give us something with which to pay our taxes in such a scenario while we adjusted to whatever the new normal would look like.

Offline JLMissouri

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Re: Will silver go below $19/oz?
« Reply #28 on: September 23, 2014, 07:43:55 AM »
They are still digging up silver, but they haven't discovered a new continent in a very long time.

I agree that land, infrastructure, livestock and good equipment are the best investments outside of family. A farm can keep you fed, money and metals might not always buy you the next meal.

That said I stopped buying silver when it went over $15 an ounce and will start buying again this winter if it stays under $20. I almost sold my stockpile when it jumped up, but decided no to. If I would have sold it and bought more heifers I could have easily bought back the stockpile with the profits in time. Silver doesn't grow or replicate, cattle do.

Offline theBINKYhunter

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Re: Will silver go below $19/oz?
« Reply #29 on: September 23, 2014, 09:33:03 AM »
Yeah, you guys that are farming, I think it's a little different for you. I agree that your infrastructure and farm resources are valuable and it would be hard to get to 5-10%. I think Jack uses that number for the average person who is not wrapped up in their own business. It works for me and gives me a goal to work towards, and as I mentioned I buy as a hedge, not to accumulate wealth with it. I see the value in having something that is worth more than it's face value, and can be tradeable in certain situation.