Is Silver next?

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  • DoggyDaddy

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    Aug 18, 2011
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    Thinking about picking up one of these maybe... I'll have to see where the price goes when the markets open again tomorrow. Right now they're 68 bucks and change above spot (as of closing on Friday).

     

    dusty88

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    I didn't fully understand the sales tax issue before. I was going to buy a gold krugerand and sales tax was added at the cart. Then I researched what some of you already knew: the lower purity coins are subject to sales tax in Indiana, so I opted out.
     

    sethr

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    Apr 5, 2017
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    Thinking about picking up one of these maybe... I'll have to see where the price goes when the markets open again tomorrow. Right now they're 68 bucks and change above spot (as of closing on Friday).

    $68 above spot for 1/2 ot of silver. No F way? I sell 1 OT Gold Eagles at $63 above spot!

    Sent from my SM-A716U1 using Tapatalk
     

    snorko

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    This kind of hurts to watch. I had to pull back a Roth IRA contribution earlier this year, accidentally doubled up, and decided to make a somewhat hefty silver purchase in place of that.

    I am trying to get used to thinking about the price being what one can buy it for and that the spot is a bell weather or trend. Problem is it wasn't that long ago you could get generic silver for a dollar or two over spot. Now it is 20%.
     

    ancjr

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    DDadams

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    All I know with certainty is the silver market makes NO sense right now.

    It hasn't for some time. We know it's manipulated. Heavily. As is gold.

    Hell, platinum is a great buy still.

    But how are PMs plummeting like this? I bet there's some hedgefund guys who bet big on futures back in February who are banging their heads against the wall every morning the last week or so.

    From $27-28 back to 21 when things have only gotten worse and the future of the dollar is so uncertain?

    I bought a few hundred oz in the last 2 months and I'm not even mad because spot prices are still mostly the same and I'd prefer silver to USD all day.

    But going down WITH the dollar going down just makes no sense.


    My only tinfoil hat theory is that they're going to keep manipulating it until the very very end. The real collapse will come before we ever see PMs go to their "true value".

    Why? IMO because there's so many brain dead people walking around thinking it's all still fine. But if they see PMs double a lot of them may actually realize the music has stopped and the party is over. 'They' don't want that. They don't want a real panic.

    Just my worthless .02
     

    ancjr

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    I'm not at all debunking any "tinfoil hat" theories, but there are several factors at work, including the most obvious reason that commodities aren't achieving value... there is decreased industrial activity (CV19 shutdowns worldwide, especially China) which is the largest worldwide consumer of commodities, including silver, gold, and platinum.

    If/when there is a real economic recovery, it will be a sight to behold.
     

    DDadams

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    I'm not at all debunking any "tinfoil hat" theories, but there are several factors at work, including the most obvious reason that commodities aren't achieving value... there is decreased industrial activity (CV19 shutdowns worldwide, especially China) which is the largest worldwide consumer of commodities, including silver, gold, and platinum.

    If/when there is a real economic recovery, it will be a sight to behold.
    So what's your take on rhodium? $850 low to a high of $27,000 all within the last 5 years.

    The sub-$800 to $5K jumps always made me confused and I've never really looked into what it was used for.

    I know Rolex uses it in a few special models but that's really it. I know it has plenty of uses but the market on it never made sense to me
     

    ancjr

    1 Kings 18:17-18 KJV
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    Aug 20, 2021
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    So what's your take on rhodium? $850 low to a high of $27,000 all within the last 5 years.

    The sub-$800 to $5K jumps always made me confused and I've never really looked into what it was used for.

    I know Rolex uses it in a few special models but that's really it. I know it has plenty of uses but the market on it never made sense to me

    Not at all familiar with it myself, but that does remind me of another point...

    Mines and oil wells don't have an on/off switch... sometimes when they're shut down it can take months to bring back online...

    If/when demand comes back, it may be a long wait...
     
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