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

[Country]

Seems to be all about the $USD strength to me. Right now USD is King. However, we've seen run-ups like this before. Usually, the other countries start complaining, US companies start complaining, and then the G-x gets together in some sort of a meeting in Switzerland, and the currency that is too high gets readjusted.

Definitely looks like capitulation in SILVER. GOLD seems to have buyers; perhaps many sovereigns are taking advantage of the downturn.

$USD WEAKENING! Guess what happens next...

[Saabman]

Big drop today......into the mid $16.00 dollar range......down about 2.40%.....Will it continue to decline further? Or should the dry powder come out? Thoughts?

[reddirtcoins]

GSR 72.2
I'm still holding strong.. waiting for it to fall further. About -$4 more and I'm moving in. Still been buying a small amount but at this GSR I just can't stand it.

[Rodebaugh]

GSR 72.2
I'm still holding strong.. waiting for it to fall further. About -$4 more and I'm moving in. Still been buying a small amount but at this GSR I just can't stand it.

This is me exactly.....with mid 13 as a trigger to dump cash reserves. At sub 10 I'm selling beloved Numi. At sub 5 I'm looting for funds.

[93_Confirmed]

GSR 72.2
I'm still holding strong.. waiting for it to fall further. About -$4 more and I'm moving in. Still been buying a small amount but at this GSR I just can't stand it.

This is me exactly.....with mid 13 as a trigger to dump cash reserves. At sub 10 I'm selling beloved Numi. At sub 5 I'm looting for funds.

Silver at mid-13s?

[pennypicker]

This is me exactly.....with mid 13 as a trigger to dump cash reserves. At sub 10 I'm selling beloved Numi. At sub 5 I'm looting for funds.

At $15 I'll be selling off my beloved baseball cards. At $13 I will dump my girlfriend...

...after second thought at $15 I'll dump the girlfriend and at $13 I'll let go with my vintage cards--I do have my priorities!

[68Camaro]

At some point I would have to sell off cents!! =8-0

[TwoPenniesEarned]

I'm wondering what consensus is here in terms of where we will bottom out and when.

My forecast is $14ish some time in early-mid 2015. I love the metal and think it is undervalued, but I have come to appreciate that our world is run on an engine of fraud. And that engine hasn't hit its' peak RPM's yet by a long shot. So I'm putting my chips on more fraud, combined with some terror in the general populace in reaction to some deflationary event. I think that will be the bottom. So I'm saving up my paper money and waiting for it.

Everyone else?

[93_Confirmed]

I'm wondering what consensus is here in terms of where we will bottom out and when.

My forecast is $14ish some time in early-mid 2015. I love the metal and think it is undervalued, but I have come to appreciate that our world is run on an engine of fraud. And that engine hasn't hit its' peak RPM's yet by a long shot. So I'm putting my chips on more fraud, combined with some terror in the general populace in reaction to some deflationary event. I think that will be the bottom. So I'm saving up my paper money and waiting for it.

Everyone else?

My gut-feeling forecast is we bottom out in the low $15s by the end of the year and that will end up being the bottom for a very long time. I don't see it ever coming back into the teens once we get out. My personal strategy is slow and steady - I spend $50-$100 a week at my LCS and try to get the best deals I can.

[68Camaro]

It crossed over 16 briefly, and gold as well hit a 4+ year low below 1170. I ordered 10 oz from Silvertowne last night using a coupon at net $17 shipped. Probably the cheapest new bullion I've gotten since 2009 or early 2010, but I will not discount further declines because the market can undervalue items at multiples of what they should be. Just like when I picked up Ford circa 2008 (whenever it was) at a buck and change, which was insane. Buying will not cease for me but I'll be looking for signs that the irrational exuberance has passed before I back my newest truck up to the dock.

[Rodebaugh]

15.94 title updated.

[Rodebaugh]

73 GSR !!!!!!

[pennypicker]

Looks like a currency war taking hold with the dollar on the rise and silver heading south. Goldman Sachs predicts $1050 gold by year's end.

[93_Confirmed]

73 GSR !!!!!!

Is the 80+ GSR from 08'-09' the highest it's ever been? I couldn't find a chart beyond 10-year.

[brian0918]

73 GSR !!!!!!

Is the 80+ GSR from 08'-09' the highest it's ever been? I couldn't find a chart beyond 10-year.

It hit 100 back in 1991.

[ZenOps]

Daaaaamn. I can't make it to LCS until tues, but I will definitely see if they have anything for sale.

Amazing how sudden drops cause people to panic and sell the real thing. Never totally understood why people do that, but I'll be there to catch them.

[93_Confirmed]

Daaaaamn. I can't make it to LCS until tues, but I will definitely see if they have anything for sale.

Amazing how sudden drops cause people to panic and sell the real thing. Never totally understood why people do that, but I'll be there to catch them.

You should grab some online in the meantime either here or BullionStacker. If not those, then check Provident and APMEX.

[barrytrot]

Assuming it stays close to $16 or goes lower I'm going to get back in with a few paper investments on Monday. The "maximum loss" seems to be very little at this stage.

[MatthewsTech]

In your opinions... We going even lower? I'm tempted to load up but i wouldnt be surprised if we see $11 silver in the next 6 months. I wouldnt even be surprised if we saw sub $10 silver for a day or 2 before it starts to recover.

[aloneibreak]

down 2.44% right now

[silverstacker]

down 2.44% right now

Keep dollar cost averaging. As a wise friend told me, it won't lose more than another $15 or so.

[barrytrot]

Down 2.44% isn't even as low as it was on Friday, so not surprising (it does appear it fell briefly to new low-of-lows but rebounded to only "as low as previous low"). And actually it's refreshing that it isn't finding yet-new super lows with L-shaped downward flow

It certainly could drop, but with the absolute floor so close it just feels like a pretty safe time to go in!

[Cu Penny Hoarder]

The sentiment on PMs is as low as it's ever been = contrary indicator.

$8-12 is possible, but not probable.

MUCH better buying here than in the $20's, $30's or $40's.

Buy as much as you can and put it away.

TPTB are desperate. The paper PM market is on it's last legs.

[barrytrot]

I didn't buy any more today as the price was higher at the stock market open and basically stayed there.

[Recyclersteve]

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...