Results 1 to 7 of 7
  1. #1 Silver May Decline 20% as Coin Sales Signal `Crowd' 
    Super Moderator bijou's Avatar
    Join Date
    May 2008
    Posts
    4,207
    Silver prices may retreat as much as 20 percent this year as soaring demand for physical metal signals a “crowded” trade, said Barry James, the chief executive officer of James Investment Research Inc.

    Sales of 1-ounce American Eagle silver coins have totaled 4,588,000 in January, heading for a record, according to data from the U.S. Mint. Silver futures in New York rallied 84 percent last year, climbing to a 30-year high of $31.275 an ounce on Jan. 3, as investors sought a haven against financial turmoil.

    “The coin sales are an indication of the level of interest in silver,” said James, who oversees $2.4 billion in Xenia, Ohio. “It’s too popular. When the crowd discovers a good deal, it’s usually long over.” ...
    http://www.bloomberg.com/news/2011-0...-analysis.html
    Reply With Quote  
     

  2. #2  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Silver has lost over 10% in the last few weeks and is around $27 per ounce today. If it gets in the low 20's, it might be a good time to buy. Palladium is the best metal's buy in my opinion. Up 90% last year and has held it's own this year.

    Usually when there is a great deal of buying, the price goes up rather than down. The opposite is true when there is a great deal of selling. It would not surprise me that there are some heavy hitters manipulating the silver market such as JP Morgan who may or may not have a large short position in silver which would effect price.
    Reply With Quote  
     

  3. #3  
    Senior Member Molon Labe's Avatar
    Join Date
    Jun 2008
    Location
    Jihad Me At Hello
    Posts
    4,771
    Quote Originally Posted by lacarnut View Post
    Silver has lost over 10% in the last few weeks and is around $27 per ounce today. If it gets in the low 20's, it might be a good time to buy.
    I plan to buy a load if it drops in the low 20's. With the way the dollar is going, I want to get some spare cash into this as a hedge.

    If Gold will drop below 1,200....I plan to do the same.

    Probably never see $700 gold again.
    Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown


    The problem is Empty People, Not Loaded Guns - Linda Schrock Taylor
    Reply With Quote  
     

  4. #4  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by Molon Labe View Post
    I plan to buy a load if it drops in the low 20's. With the way the dollar is going, I want to get some spare cash into this as a hedge.

    If Gold will drop below 1,200....I plan to do the same.

    Probably never see $700 gold again.
    Same here cause Helicopter Ben is going to crush the dollar. I quit buying gold when it got to 1k and silver around 18. Although both have dropped, Platinum and Palladium have risen modestly this year. I think they are a better investment. Palladium up 90% in 2010. Silver 80% and Gold 30%. Not too shabby.
    Reply With Quote  
     

  5. #5  
    Senior Member Tecate's Avatar
    Join Date
    Apr 2010
    Location
    Austin, Texas
    Posts
    566
    Quote Originally Posted by Molon Labe View Post
    I plan to buy a load if it drops in the low 20's. With the way the dollar is going, I want to get some spare cash into this as a hedge.

    If Gold will drop below 1,200....I plan to do the same.

    Probably never see $700 gold again.
    If silver does drop back into the low $20's again the physical market will maintain high premiums (several dollars over spot per oz) for a while just like back in 2008 after silver made its first attempt @$20 and then plunged. It took several months for things to level off before sanity returned.

    We could go through this scenario again...
    Reply With Quote  
     

  6. #6  
    Banned
    Join Date
    May 2008
    Posts
    11,970
    Quote Originally Posted by Tecate View Post
    If silver does drop back into the low $20's again the physical market will maintain high premiums (several dollars over spot per oz) for a while just like back in 2008 after silver made its first attempt @$20 and then plunged. It took several months for things to level off before sanity returned.

    We could go through this scenario again...
    I don't look for it to drop more than another 2 to 4 dollars. No way, it will drop from $27.53 to $20.00. This is just a correction; however, there are a lot of pundits that are bearish on gold and silver.
    Reply With Quote  
     

  7. #7  
    Senior Member Tecate's Avatar
    Join Date
    Apr 2010
    Location
    Austin, Texas
    Posts
    566
    Quote Originally Posted by lacarnut View Post
    I don't look for it to drop more than another 2 to 4 dollars. No way, it will drop from $27.53 to $20.00. This is just a correction; however, there are a lot of pundits that are bearish on gold and silver.
    Beware of silver's volatility... I lost count of the number of times I saw people on gold and silver internet forums claim "That's it, we'll never see $15 silver again..." We saw $15 silver over and over and over again more times than I can count. Remember, it wasn't that long ago (September I think) when silver couldn't hold anything above $20.
    Reply With Quote  
     

Bookmarks
Bookmarks
Posting Permissions
  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •