is silver going to go back up?

[Pianist4Freedom]

I think I may have fucked myself. I bought a significant number of american eagles today at 22$ each. I won't mind so much if it eventually goes up above 22$, but if it never goes above it I will be pissed. :eek:

[Dr.3D]

Relax, they should be worth around $30 next year from what I understand.

[Mr. White]

Speculation is gambling. Like gambling never put in more than you can afford to lose. Diversify your holdings, don't put everything into a single metal like silver. Don't constantly check the market price because it's going to fluctuate.

[ItsTime]

yes/maybe
http://www.bloomberg.com/apps/news?pid=20601012&sid=aGS2lkzrBbwE&refer=commodities


We are certain that sometime later this year, we shall see gold, and the grains and perhaps even the base metals trading materially higher than where they had traded earlier this week,'' Gartman said


http://www.kitco.com/ind/rosen/mar202008.html


Now that gold has broken out above its previous all time high of $850 it will do what platinum, copper, and crude oil did after they broke out above their previous all time highs. Gold will return and test the $850 level to see if it is now support. There is an unclosed gap at the $843.50 level. In order to scare most everyone off of his back the gold bull will most likely break below the $850 level and close the gap at $843.50. At that point the real bull market will begin. If you want to know when the real bull market will begin, the proper interpretation of the Delta turning points will provide an excellent clue

http://www.kitco.com/ind/Gerbino/mar202008.html

Wait for the dust to settle and be patient in the short term. This could be the start of a decent correction. Gold could reach $830-850. But there are also plenty of money managers and investors that missed the gold move the last few years and have been waiting for a correction to jump in. Therefore the extent of the correction could be shortened by these investors.

The facts remain the same:

* The Fed will print as much money as is needed and bail out the big names.

* The big Wall Street banks and other institutions still have exposure to third party defaults that have not been declared or acknowledged or are even known about at this time.

* There are plenty of deflationists believing in a financial blow up who will buy gold to protect themselves.

* There are plenty of others believing in inflation who will also buy gold to protect themselves.

* Inflation is in the pipeline and everyone sees it everyday when they buy goods. This is a global phenomenon and will take gold higher in the coming years.

Im not expert just telling you what I am reading.

[IChooseLiberty]

It'll go back up, don't worry. Commodities have been rising for the last 7 years and none of the fundamentals have changed to reverse this trend. All you are seeing now is a market fluctuation. Keep in mind how gas prices trend. They'll surge and fall back, surge some more, and fall back... but they never quite go back as low as they once were and each time they surge they hit higher.

Now is the time to buy.

[Mr. White]

Relax, they should be worth around $30 next year from what I understand.

And be careful who you listen to. Optimisim is good, but people tend to get caught up in the excitement and don't realize that you can lose money as easily as you can gain it. Silver and gold are a hedge against the devaluation of the dollar. No one can tell you what the market's going to do tomorrow or 10 days after. It's all guesswork, some of it more educated than others. Consider what you're doing before jumping into the pool.

[MrKoffee]

I'm into silver and gold right now myself and actually used today as an opportunity to double down on my gold position (have gold in ETF, physical silver). The gold and silver markets have a degree of volatility, it's not a straight line, there are dips and peaks but if you look at the long term trend for gold and silver over the last several years it points no where but up. It will take a lot of market forces to reverse that trend and with companies like APMEX actually having a shortage from so many people trying to buy silver and gold I think that the market for them will only continue as it has for the last several years.

Markets become over and under extended sometimes and what we are seeing now is simply a correction of gold and silver prices to a more reasonable level. Will you see $22 silver? Most signs point to yes, whether we will hit it again on Monday or several weeks/months down the road is what the real question is.

Bottom Line: Hold on to those coins.

[IChooseLiberty]

I'm actually really happy with this development as I just put in large mutual fund orders in Commodities and PMS. I should fetch some nice prices when those orders go through at market close.

[dsentell]

I think I may have fucked myself. I bought a significant number of american eagles today at 22$ each. I won't mind so much if it eventually goes up above 22$, but if it never goes above it I will be pissed. :eek:

Yes, the prices will go above $22. The question is when.

IMO, I think sooner rather than later and I personally expect that price to return in a matter of days . . . .

[Dr.3D]

I just read this on the NWTM web site:
http://www.nwtmintbullion.com/silver_americaneagle.php



American Eagle Silver Coins Temporarily Out of Stock
The United States Mint has found itself unable to fully meet the unprecedented demand for silver Eagle coins with its current supply, and has temporarily suspended shipments. This situation is temporary until more of this fine bullion product can be struck and shipped. Because many of our customers want to purchase this product at today's prices, Northwest Territorial Mint will accept orders now for shipment when the product becomes available, which we expect will exceed 30 days. If the wait for product proves too lengthy, we reserve the right to substitute a similar silver product.

Seems there is huge demand for those Eagles.

Now if they were going to go down and not up, then why would people be buying them so fast?

BTW: I don't recommend buying from this source, they are very slow to deliver.

[PatriotG]

And be careful who you listen to. Optimisim is good, but people tend to get caught up in the excitement and don't realize that you can lose money as easily as you can gain it. Silver and gold are a hedge against the devaluation of the dollar. No one can tell you what the market's going to do tomorrow or 10 days after. It's all guesswork, some of it more educated than others. Consider what you're doing before jumping into the pool.

Well Said!

[seapilot]

I think I may have fucked myself. I bought a significant number of american eagles today at 22$ each. I won't mind so much if it eventually goes up above 22$, but if it never goes above it I will be pissed. :eek:

Relax, got some at that price too. Just hold on to the bar it will go back up. Its all part of the ride of metals. Everyone freaks out when they are new to this on a big dip. Dont look at the price anymore until you want to BUY. By then it will be over 22. Think about this...the U.S. mint is not minting anymore SAE eagles, as well as the Canada mint is not making anymore Maple leafs this year. My main concern is availability of silver to purchase not profit at the moment.

There already is a shortage of physical so what would you rather hold , digital dollars in a bank that billions more are created on a daily basis or SAE that are IN SHORT SUPPLY.

[Dr.3D]

Here is a very good article:
http://news.silverseek.com/GoldIsMoney/1205981676.php

[ARealConservative]

I think I may have fucked myself. I bought a significant number of american eagles today at 22$ each. I won't mind so much if it eventually goes up above 22$, but if it never goes above it I will be pissed. :eek:

From what I'm seeing, you paid market price.

The bullion spot price for Silver is bullshit right now, atleast for those wanting to take possession. BullionDirect is going 19.36, but that is pre-shipping and insurance.

[Trigonx]

looking on ebay, right now a roll of 20 SAE is going for over $400($20oz), close to $450($22.50oz). And my apmex.com website ordering system is down because of high demand.

Seems like demand is soaring while actual supply is not going up but rather declining. And that is what i do not understand with the huge drop in the spot price the supply didn't improve.

TBH i'm glad it went down so i may have a chance to purchase some cheap silver in a few days if it stays down and prices on ebay settle to around spot.

[kyleAF]

It'll go back up, don't worry. Commodities have been rising for the last 7 years and none of the fundamentals have changed to reverse this trend. All you are seeing now is a market fluctuation. Keep in mind how gas prices trend. They'll surge and fall back, surge some more, and fall back... but they never quite go back as low as they once were and each time they surge they hit higher.

Now is the time to buy.

Be careful not to sound too much like the housing speculators...

I think it will rise again, too, but let's not discount the possibility of a bubble. We tend to only see what we like, and gold-bugs will balk en masse at the thought of another gold bubble already, so most of the gold-related websites will talk about a "bottom test" and "rebound" and all the technical mumbo-jumbo.

Real estate investors did the same thing until just recently though...

[IChooseLiberty]

Be careful not to sound too much like the housing speculators...

I think it will rise again, too, but let's not discount the possibility of a bubble. We tend to only see what we like, and gold-bugs will balk en masse at the thought of another gold bubble already, so most of the gold-related websites will talk about a "bottom test" and "rebound" and all the technical mumbo-jumbo.

Real estate investors did the same thing until just recently though...

I'm not so worried about that at this point as I was able to spot the Real Estate bubble from 3 miles away. All it takes is a comparison amongst various commodities to tell whether a particular market is in a bubble.

We've seen small bubbles here and there and they've been accelerating. I think we're entering the beginning of the large bubble that you can compare to the real estate bubble that popped.... but, we're not quite there yet and there's still a ways to go. It's still safe to buy IMO.

[Pauliana]

It's not so much about what the price of silver will do, but what the value of the dollar will do. I just bought a bunch of silver and finally ordered my precious krugerrand that I've been wanting for forever. I paid a bit of a premium, but had I waited till the dip, turns out I wouldn't have been able to get any. APMEX now has minimum order of $5000. Too rich for my blood. And KITCO's website seems to have been KO'd by demand.

It really is OK. To repeg the dollar to gold would take about $5000/ounce from what I understand. And silver should be about 1/15th of an ounce of gold. So you could make a good argument both are still undervalued at what we paid.

We're not betting on gold and silver to go up as much as we're making educated guesses that faulty monetary policy will make the dollar go down.

[Dr.3D]

It's not so much about what the price of silver will do, but what the value of the dollar will do. I just bought a bunch of silver and finally ordered my precious krugerrand that I've been wanting for forever. I paid a bit of a premium, but had I waited till the dip, turns out I wouldn't have been able to get any. APMEX now has minimum order of $5000. Too rich for my blood. And KITCO's website seems to have been KO'd by demand.

It really is OK. To repeg the dollar to gold would take about $5000/ounce from what I understand. And silver should be about 1/15th of an ounce of gold. So you could make a good argument both are still undervalued at what we paid.

We're not betting on gold and silver to go up as much as we're making educated guesses that faulty monetary policy will make the dollar go down.

Very nicely said and well written... ;)

[DrCap]

We're not betting on gold and silver to go up as much as we're making educated guesses that faulty monetary policy will make the dollar go down.

Agree also. One should really think of metals as insurance. If we all keep going along in lala land, happy, ignorant folks listening to the fed, the value of the dollar will go back up and the economy will at least limp along... if the faith in the paper currency crashes, that's when your silver will really be worth something. Personally I'm happy with my current lifestyle and don't want to see a world depression, but if it comes, at least there might be some insurance policy in the metals.
So if you're in it to speculate and make a quick buck you might get burned, but if your in it for the long haul you should be happy when the prices fall. I was ecstatic today to see the price of gold down to $920's - the lower the better, I can work more, make more money, buy more insurance...

[Gideon]

When I bought at $20, I thought it was a good deal.

Now that I am preparing to buy at $17, I call it a GREAT DEAL.

A "re-valuing" FRN can be beneficial for those of us who want to obtain more of the monetary metals.

I encourage everyone to go out and buy at least one ounce of silver within the next week.

[markpa]

I have all of my savings in Gold/silver and I'm not worried about this drop at all. The advice about not buying into a bubble is good but for the next several years at least where else would you put your savings?

The stock market? Bear Stearns just went from around $90 a share to selling for $2. Gold will never drop that much.

Hold it in dollars in a bank account? We are seeing massive inflation that destroys those dollars's everyday. I don't care what they say about the dollar going back up. I know if I go to buy groceries it's more expensive then ever.

I certainly wouldn't take out a loan to buy gold/silver but if you have savings it's the best place for it in my opinion.

[pacelli]

From what I'm seeing, you paid market price.

The bullion spot price for Silver is bullshit right now, atleast for those wanting to take possession. BullionDirect is going 19.36, but that is pre-shipping and insurance.

BD is a strange site when it comes to pricing. When the market price dips by a dime or a quarter for 15 minutes, their spot prices don't update for at least 10-15 minutes on average. When the market price surges, their prices are updated immediately. If you pay by credit card, shipping insurance is free. However, they absolutely rape you on the handling fee, which is often just as much as the shipping fee. So for a 15 oz order, you end up paying $20 above your shopping cart price to get it to you. They're making plenty of money off of the new people getting into PMs.

[freedominnumbers]

I have all of my savings in Gold/silver and I'm not worried about this drop at all. The advice about not buying into a bubble is good but for the next several years at least where else would you put your savings?

The stock market? Bear Stearns just went from around $90 a share to selling for $2. Gold will never drop that much.

Hold it in dollars in a bank account? We are seeing massive inflation that destroys those dollars's everyday. I don't care what they say about the dollar going back up. I know if I go to buy groceries it's more expensive then ever.

I certainly wouldn't take out a loan to buy gold/silver but if you have savings it's the best place for it in my opinion.

Consider foreign currency. Australian banks are paying 7.75% on 3 month CDs. On top of that you'll have an estimated gain of 20% on currency as well if things keep going.

[davver]

I was backing off silver purchases because of the huge run up, but I'm jumping back in the fray. If you are worried about deflation then short the dow as a hedge.

[Acala]

I would consider investing in foreign currencies but most of them are inflating too! Some of them worse than the dollar. Some of them are pegged to the dollar. I don't know how I would choose. I don't feel like trusting any fiat money at the moment.

[JSutter]

I bought 13 more ounces of silver off ebay last night for $19-20 an ounce shipped and still think it's a good deal. You just have to decide if you're in for the long or short term. If you're going long term just buy and put it away and don't worry about what the price is last week, this week, or next week. Buy on a dip if possible but if not don't feel like you're screwing yourself paying a few bucks over spot if you're not looking to sell anytime soon.