Wanted to buy silver... But it keeps dropping!

Discussion in 'Money, Investing & Precious Metals' started by invision, Jun 25, 2013.

  1. invision

    invision Supporting Member - Crazy Huh?

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    Went out to look at silver today and the prices just keep dropping, below $19 right now... Can it hit $17??? Or lower???
     
  2. Tacitus

    Tacitus Well-Known Member

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    Wow. I will buy some tomorrow morning. Big drop at end of day. (Image may change in the future if people are reading this post days later.)

    If it drops again, I'll just buy more.

    [​IMG]
     

  3. Grimm

    Grimm There is a place in Hell for me...the THRONE.

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    I've been waiting for a drop like this to buy in bulk...
     
  4. Tweto

    Tweto I love the smell of Argon in the morning

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    I don't think that this is the bottom for PM's.
     
  5. BillS

    BillS Well-Known Member

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    One of these days it's going back up. I'd buy it now while it's so cheap. If I had the extra money I'd buy it today. Regardless of what it might be tomorrow. We're going to see $100 silver in the next year or two. It won't matter much if you bought it at $19 or $16.
     
  6. Tweto

    Tweto I love the smell of Argon in the morning

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    Just reported on CNBC that gold is having it's worst quarter in the past 100 years. After hearing this I started to think that something really huge is going on now and I think it includes more then just PM's Could this be an indication of things to come!

    I heard that the market crashes within 30-90 days after gold dumps and that this a historical thing going back also 100 years.

    This is not my opinion, this is just what I'm hearing. My opinion is that I don't know what will happen.
     
  7. invision

    invision Supporting Member - Crazy Huh?

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    Can you provide some articles that support that historically 30-90 days after Gold Price dumps that markets crash... You got me curious and I am not haivng success looking up historical data right now..
     
  8. alwaysready

    alwaysready Well-Known Member

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    Same here also could you post a link? Thanks
     
  9. Tacitus

    Tacitus Well-Known Member

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    I would think that if people saw a market crash coming, they would buy gold, not dump it.
     
  10. partdeux

    partdeux Senior Member

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    unless big dollars were manipulating the market for some undefined self serving benefit...
     
  11. DKRinAK

    DKRinAK As smart as

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    To see how gold has played in the past, one must look at the past -

    http://www.econlib.org/library/Enc/GreatDepression.html

    A long read and some will argue that bits of the piece aren't quite right - it does represent the current thinking as far as Gov't monetary policy. It explains, for example, why the Fed pour trillions down the black hole of Big Banks. A good place to start if you slept thru history class.
     
  12. Woody

    Woody Woodchuck

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  13. hiwall

    hiwall Just walking at the edge of my grave

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    There is so much stuff happening right now. I think your window to buy PM's is maybe from now to about September. This is my opinion based on my experience as a farm boy( probably as good of credentials as any other:)). Anyone can guess.
     
  14. invision

    invision Supporting Member - Crazy Huh?

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    Thanks for the link, I will read it...

    I found a chart that shows Gold pricing since 1833, pretty much before 1973 Gold was more a fixed price set by the governmment compared to the open markets of today... aren't I correct? Even still, from 1833 to 1934 Gold didn't fluctuate much more than a buck or two max... http://www.nma.org/pdf/gold/his_gold_prices.pdf

    So if this PDF is correct, then actual gold prices stayed within $1 prior to the lead up of the GD, and stayed at $1+/- during the whol GP timeframe... Now, looking at 2001 timeframe - the tech bubble... Gold prices didn't take any hits proir to the market crash - with the DJIA went from 11.3 to 8.2 - and gold did nothing prior to DJIA in 2009 when it went from 13.0 to 7.2 - Gold was steady there to leading up to both of those market adjustments.

    So I just don't see how predicting the fall of PMs - 30-90 days later the market crashes...
     
  15. cowboyhermit

    cowboyhermit Supporting Member

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    When looking at the price of gold in dollars it can be very difficult to track it's value, for instance by inflating the currency the "price" of gold in terms of the currency will go up. This obviously doesn't mean that gold has gone up in value, there could be less demand and more supply and yet the price in said currency may still rise. When looking at numbers from when the gold/silver standards existed it is Very important to remember that those numbers were set by the government.
     
  16. Tweto

    Tweto I love the smell of Argon in the morning

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    The first time I heard about the market crashing after gold dumping was on a Harry Dent's you tube video that was recorded this spring titled "Deflation VS inflation" by future money trends. I was curious if Harry knew anything or was he as full of it and then I stumbled across an article about gold prices that said that same thing. I'm an habitual internet surfer and some times stumble across stuff and then can never get back to the same thing again.

    I would spend some time looking for the article but I had several trees go down in a wind storm 2 days ago and am still trying to clean up the mess and it's taking all my time.
     
  17. BillS

    BillS Well-Known Member

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    http://www.econlib.org/library/Enc/GoldStandard.html

    As mentioned, the great virtue of the gold standard was that it assured long-term price stability. Compare the aforementioned average annual inflation rate of 0.1 percent between 1880 and 1914 with the average of 4.1 percent between 1946 and 2003. (The reason for excluding the period from 1914 to 1946 is that it was neither a period of the classical gold standard nor a period during which governments understood how to manage monetary policy.)
     
  18. cowboyhermit

    cowboyhermit Supporting Member

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    Governments have never understood how to "manage" monetary policy and they never will, that's the "fatal conceit";)
     
  19. LincTex

    LincTex Jack of all trades?

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    Correct.
    Once it starts to climb it will climb quick - and you may find out that none will be available to buy (at any price) when the climb starts picking up speed.

    I, too, remember reading/hearing that PM's will fall a LOT right before we see a big dollar crash. I thought it to be a weird concept as well...... now I am thinking it may very well be true. Someone's definitely pulling some strings!
     
  20. UncleJoe

    UncleJoe Well-Known Member

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    http://www.goldtrends.net/FreeDailyBlog?mode=PostView&bmi=1323016

    This deals mostly with gold but there is some analysis on silver. It was posted 6-20-13 but it's far too long to post here. Besides that, it mostly deals with gold. So here is the abridged version.


    Silver Chart


    The break in silver has next support in the 18.50 (which was broke today) area and the lower line at 14.00. It takes a close back above 23 to relieve pressure.

    A second view of silver on a weekly chart shows if 18 area doesn't hold the next target is 14 area.

    Now compare this analysis with an historical chart.
     

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