Is Silver next?

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  • dusty88

    Master
    Local Business Supporter
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    2   0   0
    Aug 11, 2014
    3,136
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    United States
    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
    I don't know about any manipulation; there may be

    I do think the price drops aren't surprising. Look at the global currency market. The dollar is doing much better than all the other currencies, and yet we know the $$ has been diluted. I think in a declining stock market and with many currencies being challenged it makes sense the $$ will be strong for a while (hence PMs cheaper relative to $$) but the last step then is the decline of the $$ relative to commodities and necessities.


    I don't hold physical PMs for price anyway. I hold them for a store of value, sort of insurance or diversity.

    I would be happy holding some of them in ETFs to avoid these fees for buying physical, but then you lose a bit of the "insurance" aspect. If the institution that is custodian for the ETFs has trouble, your price may do you no good.
     

    DDadams

    Marksman
    Rating - 100%
    12   0   0
    Jan 17, 2014
    166
    28
    North Indy
    That's impressive being that silver spot price has declined by that much in the past year...

    View attachment 200499
    At the start of the pandemic restrictions being talked about - the week of March 14th or 16th I believe - silver somehow crept all the way down to 11.72 or so.

    That made no sense. But it doubled in just around a and a half or so.

    Platinum also went RIDICULOUSLY LOW up until mid April. Hit some crazy sh.. like $632 an ounce if I recall correctly.

    Platinum is still stupid cheap compared to gold.

    But at least PMs made some sense after the "2 weeks to slow the curve" stuff started being months.

    Right now it makes no sense besides the blatant manipulation that's done behind the scenes.
     

    DDadams

    Marksman
    Rating - 100%
    12   0   0
    Jan 17, 2014
    166
    28
    North Indy
    I simply don't agree. The dollar may be better than many, MANY other currencies but it's always tail wagging a dog type situation with the USD vs the world.

    When something happens here it shakes things globally. Especially foreign investors actions.

    I've never actually encountered any other stackers that didn't flat out 'know' that there is blatant PM manipulation. This is weird.

    But maybe there is none... that would be a nice idea.
     

    snorko

    Grandmaster
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    334   0   0
    Apr 3, 2008
    7,219
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    Evansville, IN
    I too received an order today, a bunch of Ag rounds and two random 1/2 oz gold coins. I have had good luck in the past with what I received when purchasing random offerings but I was a little disappointed this time. I received two Armenian Noah's Ark coins. Sovereign yes, but they are encased in large acrylic cases, like 3"x3", making them incredibly bulky for two small coins.

    Note on shipping. My last few orders I have paid extra for UPS 2 day as per Provident's website USPS has apparently been suffering delays, etc. My last delivery a couple weeks ago was eight 10 oz bars. So some weight for a small box. When the UPS guy dropped it off at my office he said "well here is your gold!". Bothered me to the point that I used USPS this time.

    Well the shipment left Las Vegas on 5/11, arrived back at the same post office there 5/16, left for Boulder, CO arriving the 19th, went through Cincinnati, finally making it here today.
     

    DoggyDaddy

    Grandmaster
    Site Supporter
    Rating - 100%
    73   0   1
    Aug 18, 2011
    66,123
    77
    Southside Indy
    I too received an order today, a bunch of Ag rounds and two random 1/2 oz gold coins. I have had good luck in the past with what I received when purchasing random offerings but I was a little disappointed this time. I received two Armenian Noah's Ark coins. Sovereign yes, but they are encased in large acrylic cases, like 3"x3", making them incredibly bulky for two small coins.

    Note on shipping. My last few orders I have paid extra for UPS 2 day as per Provident's website USPS has apparently been suffering delays, etc. My last delivery a couple weeks ago was eight 10 oz bars. So some weight for a small box. When the UPS guy dropped it off at my office he said "well here is your gold!". Bothered me to the point that I used USPS this time.

    Well the shipment left Las Vegas on 5/11, arrived back at the same post office there 5/16, left for Boulder, CO arriving the 19th, went through Cincinnati, finally making it here today.
    I've always used USPS with Provident and haven't had any issues so far.
     
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