So... whats happened to silver?

Discussion in 'General Preparedness Discussion' started by Jezcruzen, Aug 9, 2011.

  1. Jezcruzen

    Jezcruzen Well-Known Member

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    Gold has shot up every day. Silver is going down. Haven't seen that happen before. Usually both rise together.
     
  2. Salekdarling

    Salekdarling Member

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    Well that is good news for me. I can afford silver but not gold. :D Silver can keep dropping until I can afford to buy a suitable amount then it can go right back up! Lol!
     

  3. catsraven

    catsraven Meoww

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    Right now its at 37.89
     
  4. TheAnt

    TheAnt Aesops Ant (not Aunt)

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    Silver often seems to suffer at the same time as the stock market does even if it does not suffer as much. I am not certain on why this is but my understanding is that much of the silver market is purchased for industrial purposes and NOT investment. This means when the stock market drops significantly and business is slowing there is less industrial demand for silver. This should be temporary in my mind especially since what has driven silver up so high has NOT been industrial use of silver but rather investment. Investment in silver will only continue to grow as folks seek shelter from fiat currency. Also keep in mind the historical 16:1 value of silver to gold. If we were to suddenly return to that ratio silver would have a value of over $100/ounce right now. Something to think about.

    You are correct that its good news since it will give us all a chance to buy silver at a bargain price. I think I would rather own silver than gold since silver will be easier to piece out and barter with should the dollar completely fall off the map.
     
  5. BillM

    BillM BillM

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    silver Vs gold

    Silver is more volital than Gold but is still a very safe investment.

    Over a ten year adverage silver shows nothing but positive gains.

    Gold is more of a traditional safe haven.

    Silver being cheaper than gold and also being a commodity used in industry is easier to speculate in. It's volitility is short ranged. This makes it ideal for spot traders. We want it to go up and down.

    I have bought and sold silver twice since the latest market crash and am up about a grand.

    Given the reciant Gold trades, I will probablly buy some gold and silver in the next few days.

    ;)
     
  6. Jezcruzen

    Jezcruzen Well-Known Member

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    I have bought silver as a hedge for the past several years. Bought a little gold, too, but silver was more to my liking due to price. When I started, I think silver was selling for @ $9 per oz.

    I just bought more before this latest slide began. Needless to say, I was disappointed it had not kept up with gold, but I'm not disappointed I bought it even when I did.

    I never bought as an investment. If silver or gold increase in price, its due to the dollar being devalued/inflated. I wanted to protect some of my very modest wealth and not left holding worthless paper.

    Buy, folks. This dip is a great opportunity.
     
  7. pipelayer916

    pipelayer916 Member

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    Where are you buying your gold and silver? Are you buying actual gold and silver coins or shares from a fund?
     
  8. TheAnt

    TheAnt Aesops Ant (not Aunt)

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    Always buy physical -- never IOU's!
     
  9. BillS

    BillS Well-Known Member

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    The big advantage that gold has is that gold is being stockpiled by central banks around the world. Gold has traditionally traded at 12 to 15 times silver but I think that ratio is gone forever. Right now it's trading at more than 45 time silver. I believe the world will be going to a global currency based on gold. Silver will still be valuable but I don't think it will appreciate the way gold will in the future.
     
  10. Jezcruzen

    Jezcruzen Well-Known Member

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    I only buy physical PMs. I deal with a company in OK City - APMEX. They have been very professional. Prices are in-line with other sources, and they ship fast. (I just received my latest order this morning via FedEx.)

    There is rumored to be an increasing amount of counterfeit coinage being circulated and sold at silver and gold, so I think it important to buy from a reputable dealer rather than flee markets or similar sellers.
     
  11. BillS

    BillS Well-Known Member

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    I have my gold at BullionVault.com. You pay a small commission on the sale and a tiny amount each month for them to hold it for you. I've bought and sold gold with them in the past. A couple of months ago I bought about $17,000 worth of gold and the commission was less than $170.

    At some point in the future I'll sell all my gold there and buy physical gold. But for now it suits me fine because I can easily sell gold in small amounts and have them send me checks.

    I bought some junk silver coins from Provident Metals. Even if you pay by credit card you can still get 90% silver coins for about 6% over the spot price. This is what I bought:

    90% SILVER Coins | Buy Mercury Dimes Online | $1 Face