Companies are trying to buy physical Silver BACK from you OVER Spot!

[rhino]

I was wrong! Silver nosedived on Sunday down to a low of $43.39, but went up to $47.15 earlier today ... looks like $43.94 right now.

$50 will happen soon!

 

[edsinger]

WoW it dropped again......hmm

Getting close to a time to buy, I will look for the dollar to strengthen some more first..

 

[rhino]

WTF!?!

Silver is at $34.62 right now! (17:00 on 05MAY11). Is there something happening that is obviously causing this?

I know I should not, but I'm starting to panic a little. When it hit $40 on Tues-Wed, I thought it would be a good time to buy a significant amount of bullion. Oy!

 

[Brandon]

id buy if i had the spare money. even if it keeps dropping and im sure it will, its going to go back up and in 20-30 years when im ready to sell. ill still be a happy camper.

not much of anything else i buy increases in value anyways no time or need to panic about this.

 

[edsinger]

WoW the price has dropped a crapload. I would be spooked but I read some Blogs and they predicted it,

Harvey Organ's - The Daily Gold and Silver Report

Along The Watchtower


Read some of these blogs and it WILL open your eyes.


My Silver is NOT for sale.

 

[The Bubba Effect]

WTF!?!

Silver is at $34.62 right now! (17:00 on 05MAY11). Is there something happening that is obviously causing this?

I know I should not, but I'm starting to panic a little. When it hit $40 on Tues-Wed, I thought it would be a good time to buy a significant amount of bullion. Oy!

1: Silver Margin hike after margin hike after margin hike
2: Dollar is rallying against Euro (likely because European Central Bank just mentioned that they are not going to raise rates).
3: We're coming up against the federal debt ceiling
4: The Powers That Be feel that QE3 needs a reason to happen and crashing commodity prices make a good argument that we are experiencing "deflation" rather than "inflation", so why not print a gajillion more dollars? (I don't want to see QE3, but I get the strong feeling that "they" do).

That's what I am speculating. I also suspect that big some sinister types might be dumping out of "electric/paper" silver and buying physical on the sly because they know that physical is tight and paper/electric silver is a joke.

For more fun theorizing on the economy, hit up Zerohedge.com. Its full of useful facts, fun information and gut wrenching paranoia.

All in all, I hope my coin dealer will sell me some eagles @33-36 dollars a pop on Friday. I figure Silver is going to run past $50 still (if they announce QE3, I will bet that it will break $60 this year), but I keep in mind that my precious metals money is my gambling money.

 

[edsinger]

For more fun theorizing on the economy, hit up Zerohedge.com. Its full of useful facts, fun information and gut wrenching paranoia.

Another good site

 

[The Bubba Effect]

I think this is all a shakeout before it crushes $50.
Full disclosure: I have not bought any silver since $20.

 

[Stschil]

Comex is raising Margins over and over requiring paper buyers to put up nearly 50% off the contract funds so the contracts are not rolling over into renewal.
This is a big shake out of the weak minded and the short holders of paper silver contracts.
It will probably drop a little more before it stabilizes and starts to climb again
I have a feeling that when it does, it won't take long to bust $50 so if you plan on buying, do it quick while it's dropping. COMEX has done this before to slow the price rise, but each time it recovers and goes on to set new highs.

 

[Brown]

Been buying for the last ocuple of years and I view this as nothing more than an opportunity to buy up Physical for a LOT cheaper.

They are debasing the dollar as before, unemployement going higher yet,inflation is coming in stronger. none of the fundamentals have changed. Like others have said above this is a shake out by the big banks. dont fall for it and DON'T sell your physical!

 

[slow1911s]

Several trade articles have been pointing to a market correction for the past two weeks. They state that the previous highs were abnormally above the 200-day moving average and essentially not supported by market mechanics.

Silver is historically known for its high volatility. It dropped 58% in Oct 2008 due to the credit crunch.

 

[John Galt]

Which do you trust, our lying government that is manipulating markets and printing money or a metal that has been used as a store of wealth for thousands of years? The Great Keynesian Experiment is unraveling, prepare accordingly!
"You can evade reality, but you cannot evade the consequences of evading reality." - Ayn Rand

 

[Indysioux]

Too much volatility...

 

[rhino]

Heh. I'm in the "If I'd only . . ." coulda-woulda-shoulda mode right now.

I'm confident it will climb well over $50 per oz in the not too distant future, but it's tough to keep my eye on the ball right now. On the bright side, the last chunk I acquired was at $40 spot plus the dealer's markup and tax. I would be hurting a lot more if I'd done the same when it was $45 or or $48.

We need an emotional support group for those of us who just started acquiring silver recently and have been stung a little by this "correction."

 

[slow1911s]

It sounds like people only are enjoying their long positions when they're in the black.

If your'e really buying for SHTF, and you still have cash to convert, I'm expecting people to be turning backflips because of the $/oz opportunity. Does it really matter if part of your stash is in the "red" when you don't have faith in the dollar to begin with?

 

[rhino]

It sounds like people only are enjoying their long positions when they're in the black.

If your'e really buying for SHTF, and you still have cash to convert, I'm expecting people to be turning backflips because of the $/oz opportunity. Does it really matter if part of your stash is in the "red" when you don't have faith in the dollar to begin with?

You sound like me talking! In fact, I said almost the same thing to someone else who was panicking this morning. I didn't start worrying over this until after that. HAH!

You're absolutely right. My primary goal is an inflation hedge. I'm just having trouble keeping my eye on the ball when the short term numbers have changed so rapidly.

Thank you. Please keep reminding me as needed.

 

[slow1911s]

You sound like me talking! In fact, I said almost the same thing to someone else who was panicking this morning. I didn't start worrying over this until after that. HAH!

You're absolutely right. My primary goal is an inflation hedge. I'm just having trouble keeping my eye on the ball when the short term numbers have changed so rapidly.

Thank you. Please keep reminding me as needed.

For the record, I told you that a correction was anticipated. Not rubbing your face in it. Just letting you know that I'm paying attention.

 

[rhino]

For the record, I told you that a correction was anticipated. Not rubbing your face in it. Just letting you know that I'm paying attention.

Now that you mention it, I realize now that I completely misunderstood what you were talking about. My ignorance is legendary.

 

[Ronald]

It sounds like people only are enjoying their long positions when they're in the black.

If your'e really buying for SHTF, and you still have cash to convert, I'm expecting people to be turning backflips because of the $/oz opportunity. Does it really matter if part of your stash is in the "red" when you don't have faith in the dollar to begin with?

+1

I didn't buy silver or gold to make a quick buck, it's strictly a "back-up" investment. Now in 10 years if things have settled down, then I may consider selling it off. But for now, it's doing just fine in the safe.

 

[WWIIIDefender]

I just started getting my silver. I bought some eagles at 50 dollars a pop, which was only a dollar over spot at the time. Now that I see it went down rapidly I guess I should go get me some more...lol Woohoo going to get some more silver tommorrow. Hopefully by the time all this market manipulation is over I'll have me some big silver balls.