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

[JobIII]

It nearly hit $30 today. Perhaps the new end of year swing could be higher.

Also where can I get any info on the resistance levels noted above?

[CLINT-THE-GREAT]

2019-2020 Silver eagles are $39-40+ all over ebay right now. Those premiums....ouch

-The Great

[theo]

Kitco is saying that Russia approved a vaccine for COVID.

https://www.kitco.com/news/2020-08-11/G ... ccine.html

The overall market is higher. I believe the S&P is close to its pre-COVID levels. Unbelievable.

For silver the psychological level of 30 is providing some resistance. Where is the support for silver? The Kitco article says its around $25.

[theo]

Wow! a 13% pullback in silver! Is this a buying opportunity or 2011 part duex?

Honestly I think $24 (the point of the first pullback) is the first resistance point. If it breaks through $21 its a bit more serious. I'm hoping this persists for at a least few weeks. I'm feeling a little light on .999 silver.

[neilgin1]

Wow! a 13% pullback in silver! Is this a buying opportunity or 2011 part duex?

Honestly I think $24 (the point of the first pullback) is the first resistance point. If it breaks through $21 its a bit more serious. I'm hoping this persists for at a least few weeks. If feeling a little light on .999 silver.

in the early stages of a "bull market" (i put quotes around bull market, because, bull markets are happy things, the silver market is A thermometer showing 106 degrees) the BIG moves are down, in an aging bull market, the big moves are up.

during this flippy floopiness, use the green coupons to buy food

[neilgin1]

Lovin' It !!! Going much higher....

i know......but a lot of people are going die, because a lot of people dont produce food, a lot of people live in cities of concrete and steel, terrified of both themselves and others, no faith, only fear, division, anger, hate and greed........."No Justice, no Peace"? they chant".....incorrect, No God, no Peace.......Know God, Know Peace"

[pennypicker]

Silver reminds me of the Dallas Cowboys....you listen to the hype year after year "this is going to be the year!"...owners pump in the money and the resources to make it happen...people talk about the past and how great it was and how great it will be again someday...every once in a while there's a faint glimmer of hope to get your spirits up...and just when you think it's finally going to happen and you're going to reach that elusive "promise land"...silver and the Dallas Cowboys will always find a way to break you heart. But heck there's always next year!LOL

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[68Camaro]

If anyone can actually find any meaningful amount of Silver for less than $3 over spot I think they need to either buy it or advertise it here.

The drop in metals at various points like now is good as it is a normal part of consolidation within a bull market. The difference between metals and other markets is that you can't actually buy small sized metal at near spot prices in a bull. There is a fixed supply that is non elastic and the real market price includes the premiums for physical small sized silver. Spot only applies to large good delivery bars (at best).

[shinnosuke]

Who thinks PM prices will be up tomorrow? Who thinks down?

I'd like to see silver fall another $5, but I doubt premiums retreat enough to make a difference on the actual sale price, as 68 sez.

[theo]

As I write this silver is down another .84 to $23.93. I will go out on a limb here and say it will start Wednesday lower, then rebound a bit by mid-morning only to take another waterfall plunge in the afternoon to about $22.00 by tomorrow's close. We will be flirting with $21.00 by week's end.

[neilgin1]

If anyone can actually find any meaningful amount of Silver for less than $3 over spot I think they need to either buy it or advertise it here.

The drop in metals at various points like now is good as it is a normal part of consolidation within a bull market. The difference between metals and other markets is that you can't actually buy small sized metal at near spot prices in a bull. There is a fixed supply that is non elastic and the real market price includes the premiums for physical small sized silver. Spot only applies to large good delivery bars (at best).

amen, my friend......since i went on red alert, 2nd week of Jan, i been buying Ag, and i have NO problem just hitting the bid, even if its +$10 over "The Board"......because THAT is the REAL market.......when we first broke that 20-21 recently, i went a bit crazy, but i got nervous, because a house i always trusted......started acting "weird", thought they were going to Tulvang me.. it was weird-going for while......but i wont be doing bidness with them again,,,,,,,,guess what i bought and 'overpaid for in april.........board was like $17, and i saw two NCG;s slabbd 2017 rolls of ASES, all MS67.........two 20 count .999 ASES .......the ask was $555.......bot 'em in 20 seconds, which means i paid +$12 over the board...........think i over paid?..............a year from now?..i aint cracking the slab, thanks to those lousy alibaba chinese counterfeiters and our nancy boy treasury poofters who werent doing their job........nor will i trade trade for green coupons......for a slabbed 2017 ASES all graded MS67, i need to get 25 1/10th AGE's................that's a 9 to 1 G/S trade.

i know you all think i'm insane, but in a mad world only the insane, are sane.......buy more food, all the lead is bought out.

will it come to this?

[neilgin1]

As I write this silver is down another .84 to $23.93. I will go out on a limb here and say it will start Wednesday lower, then rebound a bit by mid-morning only to take another waterfall plunge in the afternoon to about $22.00 by tomorrow's close. We will be flirting with $21.00 by week's end.

could be.......this feels like a dollar squeeze, everybodies been short the dollar...sell hard, buy soft, squeeze , rinse, repeat. first stop, $80 CASH,

[Cu Penny Hoarder]

All major dips like the -13% down day should be BOUGHT. Don't even question it.

Silver will eventually BLAST through the old high.

[CardsNCoins]

I just wanted Chris to know that I get a kick out of his titles for this thread. Keep up the good work Doc.

[Rodebaugh]

I just wanted Chris to know that I get a kick out of his titles for this thread. Keep up the good work Doc.

Thanks Nick. It is a good way for me to record the sentiment of the moment.

[Rodebaugh]

Recording the title change from an hour ago with this post before updating it.

[shinnosuke]

Can you do better with stocks?

Silver return on investment.PNG (21.53 KiB) Viewed 3289 times

[Treetop]

Recording the title change from an hour ago with this post before updating it.

To late. Ive done sold my house and all my possessions when I read the earlier title. Thought I was rich. Your going to have to expand that massive garden and let my family live in your shed now.

[highroller4321]

Can anyone confirm when the Comex contracts expire this month. Best I can tell they expire on August 27th.

[JJM]

No posts in this thread since August of '20...

Bullish?

The battle over $27 has been brutal....

[68Camaro]

Brutal only in the sense of a few months. Biden is officially printing money at a higher rate than ever and unofficially not recognizing any urgency or need to maintain solvency. Silver is officially in short supply with demand far higher than production for years to come, if not forever. From here, eventually to the moon!!

[knibloe]

Brutal only in the sense of a few months. Biden is officially printing money at a higher rate than ever and unofficially not recognizing any urgency or need to maintain solvency. Silver is officially in short supply with demand far higher than production for years to come, if not forever. From here, eventually to the moon!!

I heard yesterday that 20% of all US dolars were created in the last year. That should translate to a 20% inflation spike some time down the road. So based on that and Camaro's statement. I agree eventually to the moon.

[Cu Penny Hoarder]

Brutal only in the sense of a few months. Biden is officially printing money at a higher rate than ever and unofficially not recognizing any urgency or need to maintain solvency. Silver is officially in short supply with demand far higher than production for years to come, if not forever. From here, eventually to the moon!!

I heard yesterday that 20% of all US dolars were created in the last year. That should translate to a 20% inflation spike some time down the road. So based on that and Camaro's statement. I agree eventually to the moon.

It'll feel the the early 70's initially, but this time we're going to have hyperinflation. Value of the USD will fall precipitously. By then TPTB will probably have Fedcoin in place, but I really can't see how that's going to save anyone. Blipcoins might make it to $1 million, but they are still priced in dollars. When the US goes Zimbabwe, that million dollars won't buy you anything. People with a decent PM stack should make it through okay. Do not sell when the Ag paper price hits $50 because it's going much higher.

As more and more people become destitute and desperate due to the hyperinflation, it's going to get very dangerous out there. Guns and ammo are going to be absolutely essential. People who live in heavily populated urban areas will face a day to day struggle just to survive.

The exact timing of all this is not possible to predict, but this scenario gets closer and closer everyday. Months?.. years?... who knows.

[franklin]

Have a small CD which matured last week. Went down to see what re-up interest rate will be. It was at 1.75% last time. Lady says, "looks like 0.2% this time."
What???? Why haven't rates increased with all the money they have printed in the last year and inflation is showing up at the grocery, lumber yard, buying car batteries, etc? She says, " yeah, it makes no sense."

[JadeDragon]

The economy is so awash in cash no one is willing to pay to rent it (ie essentially zero interest rates).

An alternative I like for longer term cash investments https://en.m.wikipedia.org/wiki/Israel_Bonds. https://www.israelbonds.com/Offerings-R ... Rates.aspx