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Buying silver today?

Discussion in 'The Breakroom' started by jcc, Apr 15, 2013.

  1. ItsHardToKnow

    ItsHardToKnow Loaded Pockets

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    why is the price of silver dropping?
     
  2. Makahbay

    Makahbay Banned

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    It wasn't worth $20-40.

    Panic buying leads to panic selling, eventually.

    Just wait till the guns and ammo bubble bursts.
     
  3. jcc

    jcc Banned

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    How bearish of you. It's a little bit more complicated than 'it wasn't worth $20-40'. Time will tell which one of is right.
     
    scríbhneoir likes this.
  4. ItsHardToKnow

    ItsHardToKnow Loaded Pockets

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    come on, that is the best answer you can offer?
     
  5. Makahbay

    Makahbay Banned

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    [​IMG]

    [​IMG]

    [​IMG]

    IDK, maybe it's more complicated than that lol.
     
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  6. jcc

    jcc Banned

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    I can offer some insight, maybe.

    On Friday there was a concerted effort to drive the price of gold down by putting through massive shorts, for example, an order selling $20billion in gold contracts. This much volume entering the market at one time drove the price of gold down past $1540, which was the 'line in the sand' for many investors, and the parabolic price point for gold. Once it broke past this point, traders that were invested in gold on borrowed money were forced to sell to cover their margins, which drove the price down even more.

    [​IMG]

    Graph showing the concerted effort to drive the price of gold down by flooding the market with volume

    TL;DR: Some people with a lot of money said that they wanted more money, so to do so they sold all of their gold, making gold appear less valuable. Everyone else saw these people selling their gold and said that gold must not be worth what we believe it is worth, so they sold their gold, too. Now that gold is 'less valuable', the people that sold it initially at a high price can purchase the same quantity of gold back at a lower price and pocket the difference.
     
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  7. Supe

    Supe Empty Pockets

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    Wow. Stumbled on this thread - checked the price and bought 10oz Perth Mint silver bar. woohoo!
     
    jcc likes this.
  8. dewildeman

    dewildeman Loaded Pockets

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    I'm going to wait awhile, it wasn't too long ago it was selling for around $15. BTW, I got lucky, I needed some extra money for an upcoming trip. I sold my stash when it was $30, paid no more than $16.
     
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  9. jackknife

    jackknife Loaded Pockets

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    If things fall apart and money has no value, the fast lead may be the best thing to have a lot of.
     
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  10. vegassprky
    • GITD Manix 2XL Owner
    • In Omnia Paratus

    vegassprky Loaded Circuits

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    Can't eat, drive or drink silver but lead will get you all 3. Even has good trade value too.
     
  11. armedtetrapod

    armedtetrapod Loaded Pockets

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    Look what just came in the mail today! :bounce:

    [​IMG]

    And my whole collection, just cuz:

    [​IMG]
     
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  12. Supe

    Supe Empty Pockets

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    Nice haul. I can see your recent acquisition as 2 troy oz silver but what constitutes the rest of your stash?
     
  13. armedtetrapod

    armedtetrapod Loaded Pockets

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    I bought the rest of my silver back when it was at like 30 dollars an ounce, I had a bunch of cash that I wanted to keep from spending and I don't intend on selling for quite a while so I figured it would't hurt to buy then. I have a hard time not splurging on cool stuff if I have a lot of cash.
     
  14. ran23
    • In Omnia Paratus

    ran23 Loaded Pockets

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    About $21.575 Friday, any other buyers here?
     
  15. SAKplumber
    • In Omnia Paratus

    SAKplumber EDC Junkie!!!!!

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    Will be:D
     
  16. ran23
    • In Omnia Paratus

    ran23 Loaded Pockets

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    wish I could
     
  17. Makahbay

    Makahbay Banned

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  18. ran23
    • In Omnia Paratus

    ran23 Loaded Pockets

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    I only checked a couple of mints, not sure anyone is selling a slngle roll or two at this time. not enough to buy a monster box.
     
  19. jcc

    jcc Banned

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    With silver markets how they are I sold my inventory two weeks ago before the drop - so pleased I did.
     
  20. Makahbay

    Makahbay Banned

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    Closed today at $18.63: the trend continues