Where is silver going from here?

[NDFarmer]

Seems like silver has a hard time going over $29.00 Now it is back down to $23.40 as I write this. Do you think it will drop under $20.00? Premiums haven't come down any. Still way too high!!! Should a person be buying this dip or wait for it to go lower? With all that is going on in the world and this country it surprises me that it is dropping. What are your thoughts?

[coppernickel]

My thought? "Discombobulation." Someone is manipulating the markets in order to defy natural law. When the manipulation ends the spring back will be that much bigger.

This question has been on my mind of late. The fundamentals of stacking remain. That having been said, I am in a curfuffle, and action, of any kind, has become irksome.

Buy now or later? Maybe a little now and a little later? I doubt $20 silver, $11 silver is likely, "inconceivable."

[Morsecode]

With all that is going on in the world and this country it surprises me that it is dropping.

It has been obvious for some time that what used to move markets, especially pm's, no longer apply. When was the last time we saw a significant move - any move - on the outbreak of a war? Or a drought? Or an election?

Silver is nowadays primarily an industrial metal whose price fluctuates within those supply/demand chains.

I mean, good god...if there was ever a time for silver to soar out of control wouldn't it be right now, this month? These past two years?

Since 1980, the two times silver went to the moon were because of market manipulation and only because of manipulation. No geopolitical event is going to change that.

[68Camaro]

My my, impatience isn't a virtue in PMs. I'm still buying selected items, though less than I would if prices are lower. I think a pull back and re consolidation as along as it stays above $20, is good. I believe the dollar will take a dive at some point in the next 6-12 months and the climb above $30 silver and $2000 gold will occur and stay there at least for awhile (if not go still higher from there).

It's not as good a time to buy as it was 15 months ago, or 3 years ago, but if you don't have silver it's a great time to buy.

As to why silver isn't exploding - people have been brainwashed into thinking they can create value out of nothing with no backing - crypto, FED printing, unprecedented deficit spending. And they will have to be proven wrong before metals explode (by which time it will be too late to get any if you don't already have it).

[Morsecode]

Exactly. The crypto thing. And I fear we are a long way from 'proving them wrong'. Indeed, my gas station/convenience store had a bitcoin machine installed recently. That's a beginning, not an end.

You have to admit, in light of this government's multi-trillion dollar debt frenzy it's not such a stretch to believe in the make-believe.

[68Camaro]

Dunno - the Dutch tulip craze of the early 1600s expanded over several decades until it finally collapsed in on itself in 1637 when prices became so inflated that the market stalled, and legal remedies failed because their courts ruled it was essentially gambling.

The South Sea bubble of of 1719-1721 was a jump-on-the-bandwagon herd mentality, of the like seen recently by the Tesla stock supporters (and worse, the crypto supporters).

This kind of craziness can last years, especially if it is encouraged.

Edit for PS:

But, all bubbles eventually collapse, and I'm not talking about a PM bubble because there isn't one. I'm talking about the US debt bubble.

[highroller4321]

I believe silver will stay above $21.50 and be around $28-30 by december. I guess time will tell.

[Cu Penny Hoarder]

The main thing anyone needs to know is the US dollar is constantly being debased and continues to lose value over time. Someday it will be worth zero.

Current silver prices are ridiculously undervalued and have been for a very long time. I keep a sizable "dry powder fund", especially allocated for when big smash-downs take place. Can't afford a dry powder fund?... there are plenty of credit cards that are giving people 18 month interest free. You can use that when the next silver smash happens.

I collected a few Ag coins when I was a kid, but I started buying Ag in bulk around 1985/86, and I continue to do so. Some might say it's tenacious and smart, others might say it's stubborn and foolish... oh well.

Whether it takes one day, one week, one month, one year or 10 years... this fiat façade will eventually all come to an end. When?... no one knows.

Speculating about where/when the price is going is a colossal waste of time. There is no way to know that... no one is that good.

Lastly... it's better to have it and not need it, than to need it and not have it. Same goes for your preps; food, water, guns, ammo, supplies, etc.

[NDFarmer]

Silver back down to $22.48

[Silver4face]

I believe silver will stay above $21.50 and be around $28-30 by december. I guess time will tell.

That did not happen unless you meant December of 2022. But I was wrong too because in another thread, I predicted it to drop below 20. Anyway, the price seems to be rather consistent these days. Of course, the premiums are high as we all know.

[Silver4face]

Silver back down to $22.48

It's been almost a year since you posted this message. Well, the .48 is still there, but unfortunately it has an 18 in front of it. At roughly 18 and a half, where does it go from here? Down some more?

[68Camaro]

Mostly being driven by the USD (besides run of the mill manipulation). As long as the USD is perceived as the best horse in the glue factory then the USD will continue to stay high and maybe even rise still more, and that drives PM prices down. Eventually the USD will tank and PMs will skyrocket. But that isn't necessarily good news for us because that would suggest a larger collapse that most us do not want to see (no matter how prepped we might think we are).

Everyone always wants to know *when*. 12 years ago I didn't think we were going to make it past 2020 without a collapse. I failed to anticipate how good TPTB would be at keeping the balls in the air, plus Trump at least stalled the collapse by 4 years. All I know is that we are 10 years closer to collapse than we were 10 years ago.

[Morsecode]

All I know is that we are 10 years closer to collapse than we were 10 years ago.

[pennypicker]

As some of us here predicted months ago that silver would return to its pre-covid levels which were in the $15 to $17 range. I was one of those individuals and consequently I got the hell out at $26.75 and that included many rolls of $44 silver eagles I purchased in 2011. Nevertheless my game plan was to get out and I'll buy it all back when silver tanks to $15 and will have a much larger hoard for doing so

[NDFarmer]

Nevertheless my game plan was to get out and I'll buy it all back when silver tanks to $15

I don't doubt silver could go to $15 I hope it goes to $10 or even lower but with a $5 premium it will still cost you $20 to buy it. Which would then be a 33% premium. Seems a little steep to me!!

[pennypicker]

Nevertheless my game plan was to get out and I'll buy it all back when silver tanks to $15

I don't doubt silver could go to $15 I hope it goes to $10 or even lower but with a $5 premium it will still cost you $20 to buy it. Which would then be a 33% premium. Seems a little steep to me!!

You're absolutely right When I sold my hoard to private parties I charged $2.50 over spot for Jm Bullion 1 oz rounds and 10 oz bars. I asked $5 over spot for silver eagles and 15% under spot for sterling; I did however keep all my 90% as it brings back fond memories of my childhood collecting days in the 1960's when one could find silver coins in their change. Of course everything sold quickly which is understandable considering I live in an isolated area in the Mohave Desert comprised of 300,000+ people and only one coin shop that has exorbitant prices. Point being the premiums I obtained will help soften the blow when I buy again---and that's IF I every buy again as I have a hard time with dealers gouging the public. I'll just wait and see how "buyer psychology" plays out and what affect it will have on dealer premiums.