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MAXlMUS

Where Is The Bottom For Silver!

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I would give my right kidney for the answer to this. :rolleyes:

I didn't realize the price had fallen again. £180 for a 250g bar at BullionbyPost. :o

A shame I bought just before the recent falls. I paid £220 only 3 months ago. :angry:

At least I am in it for the long run (as you have to be with any investment). It is called The Devil's Metal for a reason.

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I too am it for the long run....However I joined this game only 2 months ago myself and have a few pounds to spend.

I have been using the Estonian guys and have no issues as far.

Max

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I have been in the silver game for a few years, my plan has been to a a kilo or two every year. I will cash in near or in retirement in around 30 years time.

If the price goes down then that is a good buying opportunity.

They can't suppress the price for 30 years,.

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Im with ya on the long haul thing...Im looking to cash in about 25yrs from now.

What does puzzle me that there doesn`t seem to be as much interest in the UK in physical silver compared to other countries especially the states and Oz.

Cheers

Max

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Im with ya on the long haul thing...Im looking to cash in about 25yrs from now.

What does puzzle me that there doesn`t seem to be as much interest in the UK in physical silver compared to other countries especially the states and Oz.

Cheers

Max

Maybe because in the UK the risk of loss via theft is high? More people living in smaller properties where the chance of hiding effectively is smaller?

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Maybe because in the UK the risk of loss via theft is high? More people living in smaller properties where the chance of hiding effectively is smaller?

The main reason is VAT. Silver per ounce is far more expensive here than in many other countries. The premiums on numismatic coins are also higher. Therefore the price of silver would need to rise higher to make a decent return.

Silver was stripped out of the currency earlier in the UK that Canada, Oz or the USA so maybe that has an impact. We have been using pure fiat for longer.

Also, we have a state ran media (BBC) which a large proportion of people listen to, which has never as far as I recall even mentioned investing in precious metals. Compare that with the Daily Telegraph which has a virtually a piece per week on precious metals. A non-state funded press would give a more balanced view (IMO) regarding investment advice.

It would be almost impossible for the government to seize precious metals from an individual.

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I would give my right kidney for the answer to this. :rolleyes:

Clive Maund reckons that the bottom will find itself somewhere between $17-$20.

I quote this guy because I have found him to be pretty damn good in the past, especially in the recent bear market past, which has shown up all the perma-bull $500 Silver freaks (the guys that Asheron used to love to endlessly quote) and all their feeble paradigms.

Edited by BobBobson

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Big falls in silver it seems.

I am looking to buy some more at these prices if I get the opportunity.

Does anyone have any ideas why it has fallen so much?

Reasons are abound all over the internet. The extent to which any of them relate to reality or not is quite another matter.

Clive Maund, whose website I have linked in the post above has been more or less correctly predicting bearish trends for the past few months that I have been following what he puts out. He tends not to get involved in geo-politics or conspriacy theories, but concentrates purley on the numbers. He reckons that we will be looking at a reversal anytime between now and the next 2-3 weeks.

I myself bought in to the tune of a few grand, at $22.5. After watching the waterfall down to $21.5 within 15 minutes of the NYMEX opening last Friday or whenever it was, I sold incurring a ~5% loss in price reduction, and of course a further 4.2% loss due to the dealer fees. Thus, I feel that now that the $22 support level has been broken, that Silver still has a long way to fall.......Silver at $15 wouldn't surprise me.

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I myself bought in to the tune of a few grand, at $22.5. After watching the waterfall down to $21.5 within 15 minutes of the NYMEX opening last Friday or whenever it was, I sold incurring a ~5% loss in price reduction, and of course a further 4.2% loss due to the dealer fees. Thus, I feel that now that the $22 support level has been broken, that Silver still has a long way to fall.......Silver at $15 wouldn't surprise me.

At what level would you buy again?

I have just bought regularly regardless of the price but I now plan to wait for a while as I am increasing my investments elsewhere. At what price do you think would be a good time to invest?

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There are 2 main reasons the price of silver is falling

1- To scare the general public out of buying it

2- To allow the elite to take the remaining physical off the market very cheaply

Without silver we go back to the dark ages , demand is increasing and ores are decreasing

stockpiles are practically non existant .

silver -there is no alternative

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There are 2 main reasons the price of silver is falling

1- To scare the general public out of buying it

I have been a silver/gold stacker for quite some time and the 'general public' seem to have shown no interest in investing in precious metals regardless of the price.

I remember when you could buy an ounce of gold for close to £300 10 years ago and recently when it costs over £1,000 and no-one in my extended family, none of my friends or work colleagues has even mentioned buying a single ounce outside of jewellery. I speak with owners of pawn shops and bullion shops as they have told me that investing in physical metals is extremely rare.

2- To allow the elite to take the remaining physical off the market very cheaply

Then the price would rise, and it hasn't. Silver has been undervalued in my opinion for quite a while, what are these elites waiting for? $2 an ounce?

Without silver we go back to the dark ages , demand is increasing and ores are decreasing

You could say the same about oil, natural gas, iron ore, copper etc.

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At what level would you buy again?

I have just bought regularly regardless of the price but I now plan to wait for a while as I am increasing my investments elsewhere. At what price do you think would be a good time to invest?

I would be very wary of the 'buy in at any price' philosophy of disingenuous snake oil salesmen like Turk or Maloney. I remember Mike Baloney putting out videos trying to calm frantic customers who bought silver coins at $49 and were panic selling after the May 2011 crash at $40. In his most calming tones, he assured his frantic subscribers that in 5 years time $50 silver would seem cheap! Maybe it still will, but I bet most holders of silver would bite someones hands off for $30 silver today, never mind $40.

Now that the $22 support has been broken, I would be looking at prices between 17$-20$ as this is the target that a few of the non-bull$hit merchant pundits have stated as being the ultimate bottom. In my guts however, I feel that $15 might be more like it....this makes me feel bad as I have a lot of silver coins which I bought when silver was $28 way back in late 2010. I also bought a lot of physical gold back then also. Back then, I opted for physical coins because it seemed to me like there was a very serious chance of some kind of systemic collapse as there may well be again 5-10 years down the line in the future. I still believe that owning a decent amount of physical coins is a good idea. It just kind of peeves me now, that 3 years down the line, I can actually buy coins for less today than I paid for them back in late 2010. Any precious metals I have bought since then has been via one of the head pm b.s. merchants' (James Turk), GoldMoney allocated pm account business. Whilst I have many times been in profit, the truth is that by the time I have sold the metals, I have landed somewhere on the wrong side of breaking even.

Whilst I will always watch the silver/gold market with interest and will probably invest further in future, I am now observing the happenings with Bitcoin with more interest. Had I invested everything that I have put into pm's into Bitcoin, then I would have had an opportunity to leave that market a millionaire by now......and I have a fairly modest stack of pms. Instead of investing in Bitcoins when they cost around $5 per unit, I just used them to buy drugs on Silk Road. :rolleyes:

The idea of a crypto-currency is simply not going to go away, regardless of the boom, crash, and the following period of bearish stagnation that Bitcoins will continue to experience. I believe that at some point in the future, there will arise a further opporunity with Bitcoin to earn astounding profits, with always the high likliehood of everything going up in smoke at the stroke of a legislative pen or hack attack.

Edited by BobBobson

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@BobBobson -

At least you have the security of having the gold and silver without government deciding to means test you on it, or use it to recapitalize the banks.

If you can just forget about it then bring it out in 10 years time and reassess the situation.

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  • 242 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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