Silver - $27 going to Zero! Call your boss..beg for job back

[silverstacker]

This is a very strange time. If you believe that miners are going to go bankrupt, that would decrease production quantities, which could ultimately be good for the price of silver. So I can understand if someone feels a bit uneasy about rooting for some bankruptcies to be announced soon because they feel their personal stack would then become more valuable. That person would likely be less at ease if they had physical silver and also owned stocks in silver miners. Of course, the paper shorts can do what they want to distort the markets- who knows when that will end...

I was listening to Fox Business today and on two separate occasions they mentioned that gold cannot go under $1100 because that's the minimum or break even point for these mining company's. I'm not sure I buy that but that's what was said. What is this popular answer for silver when it comes to a "break even" point for miners.

[68Camaro]

Estimates for break even for silver vary because there are still some rich easy deposits that are cheap to mine and much is byproduct mining from base metals but some claim the current price is already below the level required to support new mines.

But it's not true that the price can't be below whatever that break even point is. It just can't stay below that point for a long period (a year, or years).

[barrytrot]

Silver is below $16 again and appears that it may stay there at the stock market open (11 min). Assuming it does I'll put more money into fake silver again

[brian0918]

I was listening to Fox Business today and on two separate occasions they mentioned that gold cannot go under $1100 because that's the minimum or break even point for these mining company's.

That doesn't make sense. We're not dependent on miners to continue to supply us with gold/silver, so why would the price be bound in any way to mining activity?

Gold and silver are money because, unlike all other commodities, people accumulate them without limit. Virtually all of the gold ever mined in human history is still in human hands. The “stocks to flows” ratio (inventories divided by annual production) for gold is 80 years. For silver it is also measured in decades.

For other commodities, it is measured in months.

Think about this. It means that there is no such thing as a “glut” in gold or silver. If the wheat harvest comes in a few percent higher than expected, the price can crash. If oil consumption rises a little, the price can spike. But in the case of gold and silver, the value has nothing to do with either mine production or jewelry or electronics consumption.

Stability is exactly what we want and expect from money. The prices of gold and silver, as expressed in dollars, are unstable, not because of gold and silver, but because of the dollar itself.

This means that you cannot analyze the fundamentals of gold and silver with conventional techniques. It is not possible to predict changes in the prices by looking at “supply” (i.e. mining and recycling) and “demand” (i.e. jewelry and electronics). All of those huge inventories are potential “supply”, at the right price. Everyone on the planet is potential “demand”, at the right price.

http://monetary-metals.com/introduction ... nd-report/

[barrytrot]

I'm in again! Fake silver you are mine!

[93_Confirmed]

I'm in again! Fake silver you are mine!

Fake silver?

[NHsorter]

He's buying paper

[Rodebaugh]

Good luck Barry.

Every article I read is bullish. Of course I read stuff from coinflation which might be a bit biased.

DYODD

[93_Confirmed]

He's buying paper

Ah. Okay.

[reddirtcoins]

I was listening to Fox Business today and on two separate occasions they mentioned that gold cannot go under $1100 because that's the minimum or break even point for these mining company's.

That doesn't make sense. We're not dependent on miners to continue to supply us with gold/silver, so why would the price be bound in any way to mining activity?

Gold and silver are money because, unlike all other commodities, people accumulate them without limit. Virtually all of the gold ever mined in human history is still in human hands. The “stocks to flows” ratio (inventories divided by annual production) for gold is 80 years. For silver it is also measured in decades.

For other commodities, it is measured in months.

Think about this. It means that there is no such thing as a “glut” in gold or silver. If the wheat harvest comes in a few percent higher than expected, the price can crash. If oil consumption rises a little, the price can spike. But in the case of gold and silver, the value has nothing to do with either mine production or jewelry or electronics consumption.

Stability is exactly what we want and expect from money. The prices of gold and silver, as expressed in dollars, are unstable, not because of gold and silver, but because of the dollar itself.

This means that you cannot analyze the fundamentals of gold and silver with conventional techniques. It is not possible to predict changes in the prices by looking at “supply” (i.e. mining and recycling) and “demand” (i.e. jewelry and electronics). All of those huge inventories are potential “supply”, at the right price. Everyone on the planet is potential “demand”, at the right price.

http://monetary-metals.com/introduction ... nd-report/

They (FOX) need to read mineweb or actually go and look at the miners financial sheets. That is so NOT TRUE. There are miners pulling at 750-800 on gold. It can go a lot lower. I've been holding what I have been saying for years. $850 gold and $12 silver. I think I will still see it. The trend is still firm in that direction. Filter out all of the blah, blah talk and look at the bottom lines, they tell the truth.

Oh!, and if you look at that. it's a 70-1 GSR.. and I was saying that about 3 years ago! (hmmm)

[ZenOps]

Well, got me some Canadian junk at spot. Felt good for me at least, store owner probably took at least a small loss on it.

[beauanderos]

Precious metals getting hammered again right now

[barrytrot]

I'm glad I still have a lot of dry powder. I will do at least another foray into silver. That's such a drop at this level!

[ZenOps]

Serious drop. Will be buying silver all the way to the end of the month (probability of Swiss repatriation of gold)

But not buying gold itself at 70+ ratio. Never really liked gold anyhow, too soft. Hope LCS continues to sell junk at spot.

[Rodebaugh]

GSR 75 !!!!!!!!!!!!!!

[blackrabbit]

I thought there were more colors than just red? A couple more bucks down and we will be where I started from.

[93_Confirmed]

GSR 75 !!!!!!!!!!!!!!

That's ridiculous. I want to get in on some Au but I'm waiting for 50ish, which could be while out.

[barrytrot]

I'm digging myself deeper into silver

Too bad I think "dollar cost averaging" is foolish or I could claim that I was doing that

[beauanderos]

GSR 75 !!!!!!!!!!!!!!

That's ridiculous. I want to get in on some Au but I'm waiting for 50ish, which could be while out.

If you want gold, buy silver and swap when it's favorable to your purchase price.

[93_Confirmed]

GSR 75 !!!!!!!!!!!!!!

That's ridiculous. I want to get in on some Au but I'm waiting for 50ish, which could be while out.

If you want gold, buy silver and swap when it's favorable to your purchase price.

That's exactly what I'm doing.

[AdamsSamoa]

Ths slide continues...

[Engineer]

GSR 75 !!!!!!!!!!!!!!

Time to buy some door stops.

[barrytrot]

Silver and Gold both green.

Have we bottomed? (Probably not)

[goodcents]

My target low is just above 13.00. I say Silver declines through end of year.

However $15.00 silver is still a bargain if you ask me. Great time to load up on Buffalos and the lower dollar rounds.

I love physcial silver and it's nice to get more bang for my buck while it's low like this. Helps me balance out that 30/ounce stuff..lol.

[AGgressive Metal]

When I looked at Kitco the other day

https://www.youtube.com/watch?v=cLyxmD_UAK4