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#1
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What's the deal with silver prices?
Woah! I looked away for a few days, and I see that silver coin prices
are sitting at $12.11/oz. - over $2.00 less than the last time I looked! What the hell??? Is silver back on the downturn? Did I miss my chance at fortune and fame, when it was over $14.00? Or, is this just a temporary correction, only to last a week? I WAS planning on selling about 1/2 of my junk silver once it got into the $15.00 range. Then, I'd hold the rest until it topped $20.00, which I was hoping would be in December. Right now, it's looking like it's going back down to the $5.00-$6.00 I got it for. Crazy, man! Just crazy! -- Eric Babula Milwaukee, Wisconsin, USA |
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#2
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What's the deal with silver prices?
On 19 May 2006 17:43:35 GMT, Eric Babula wrote:
Woah! I looked away for a few days, and I see that silver coin prices are sitting at $12.11/oz. - over $2.00 less than the last time I looked! What the hell??? Sorry, that was me, I bought that 10 ounce bar from that friend of mine. Is silver back on the downturn? Did I miss my chance at fortune and fame, when it was over $14.00? Or, is this just a temporary correction, only to last a week? Who knows. I'm going to keep buying, it's on sale right now way I see it, so I can buy more with what I spend than I could have 2 weeks ago. I WAS planning on selling about 1/2 of my junk silver once it got into the $15.00 range. Then, I'd hold the rest until it topped $20.00, which I was hoping would be in December. Right now, it's looking like it's going back down to the $5.00-$6.00 I got it for. If you want to sell it locally, please keep me in mind. Crazy, man! Just crazy! Well, it is all just legal gambling after all. Just like the stock market. As long as the coins bring you joy, does it really matter if you lose money when you sell, or don't make as much as you could have during a peak? As someone else said here the other day, it's the fun of getting the stuff, and as far as the price goes, a rollercoaster ride is always fun. End of the day, I've still got the same shiny discs of metal that I had when it started, regardless of what they'd be worth if I sold them. |
#3
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What's the deal with silver prices?
On 19 May 2006 17:43:35 GMT, Eric Babula wrote:
Or, is this just a temporary correction, only to last a week? Don't know how long it will last (probably longer than a week), but I do believe it is temporary. Once gold went past $700, profit taking probably kicked in -- with silver and other metals as well, AFAICS. I won't get worried until gold drops below $600. A year ago, who'd have thought it would get that high? Remember when everyone was cheering silver on to finally get to $10? Long-term, as I see it, a lot will depend on these things and drive the price of gold, silver and other metals: (a) oil prices (b) situation with Iran (c) situation with Iraq (d) situation with North Korea (e) the Euro and the Swiss Franc vs. the dollar (f) U.S. election results in 2008 (g) whether China and other Asian countries decide to shift their foreign currency reserves from dollars to euros, gold, or other things (pig bellies, maybe? I heard there are an awful lot of pigs in China...) (h) natural calamaties (hurricanes, tsunamis, volcanos, etc.) Except for (h), all of these are interrelated, of course. But NONE of them look any good for the price of the dollar vs. other currencies, and vs. precious metals, because people have finally gotten the message and have started to hoard. I think even (f) will not have much effect on things, at least not immediately. Too much stuff to clean up after the present admin. is done, IMHO. -- Bob Hairgrove |
#4
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What's the deal with silver prices?
I have a couple rolls of common date circ. mercury dimes and a roll of
war nickels. Had not even thought of selling them but now I kind of wish I had done it a few weeks ago. Looks like I missed the boat for the time being. Ah well, no big deal as we are not talking about a fortune here anyway. |
#5
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What's the deal with silver prices?
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#6
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What's the deal with silver prices?
The metal markets have been `talked down' by the so called experts.
There is no doubt that this has helped cool the market at a time when there was profit taking going on. People see a fall, followed by some smart looking dudes saying `it was just a bubble anyway' and the market cools off .........temporarily that is until the smarts can absorb the slack and off the prices go upwards again. The story being punted about is that the demand in the far east is based on rising demand of 20% per annum which is unsustainable year in year out, and that it will level off much the same time as production increases to match demand. Now lemme see..... That would be around two three years from now at the VERY earliest. In the meantime all the underlying conditions that caused the hiking of prices remain. Make of it what you will. Bob Hairgrove wrote: On 19 May 2006 17:43:35 GMT, Eric Babula wrote: Or, is this just a temporary correction, only to last a week? Don't know how long it will last (probably longer than a week), but I do believe it is temporary. Once gold went past $700, profit taking probably kicked in -- with silver and other metals as well, AFAICS. I won't get worried until gold drops below $600. A year ago, who'd have thought it would get that high? Remember when everyone was cheering silver on to finally get to $10? Long-term, as I see it, a lot will depend on these things and drive the price of gold, silver and other metals: (a) oil prices (b) situation with Iran (c) situation with Iraq (d) situation with North Korea (e) the Euro and the Swiss Franc vs. the dollar (f) U.S. election results in 2008 (g) whether China and other Asian countries decide to shift their foreign currency reserves from dollars to euros, gold, or other things (pig bellies, maybe? I heard there are an awful lot of pigs in China...) (h) natural calamaties (hurricanes, tsunamis, volcanos, etc.) Except for (h), all of these are interrelated, of course. But NONE of them look any good for the price of the dollar vs. other currencies, and vs. precious metals, because people have finally gotten the message and have started to hoard. I think even (f) will not have much effect on things, at least not immediately. Too much stuff to clean up after the present admin. is done, IMHO. -- Bob Hairgrove |
#7
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What's the deal with silver prices?
The part I don't understand is that precious metals are supposed to be
a hedge against inflation. Well, the stock market was in free-fall this week because of inflationary warnings, but precious metals tumbled as well. I would think that if the economy is going down that silver and gold would go up. I am no genius, perhaps someone can explain this to me. |
#8
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What's the deal with silver prices?
"Eric Babula" wrote in message
0... Woah! I looked away for a few days, and I see that silver coin prices are sitting at $12.11/oz. - over $2.00 less than the last time I looked! What the hell??? Is silver back on the downturn? Did I miss my chance at fortune and fame, when it was over $14.00? Or, is this just a temporary correction, only to last a week? I WAS planning on selling about 1/2 of my junk silver once it got into the $15.00 range. Then, I'd hold the rest until it topped $20.00, which I was hoping would be in December. Right now, it's looking like it's going back down to the $5.00-$6.00 I got it for. Crazy, man! Just crazy! -- Eric Babula Milwaukee, Wisconsin, USA The mark of a true bull market, as opposed to a temporary spike in prices, are periodic corrections. The metals markets, being thinly traded (compared to most financial markets) are subject to rather large violent swings in price. Since the basis for the previous rises in metals prices i.e. inflationary pressures, increasing commodity demand, and a falling dollar are still very much alive, I think this is a bull market correction and the upward climb will continue after a period of consolidation. John Visit the RCCers favorite coins web page http://mysite.verizon.net/jcarney44/coins/rccers.html |
#9
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What's the deal with silver prices?
"John Carney" wrote in message news:ECHbg.855$nA2.134@trndny01... "Eric Babula" wrote in message 0... Woah! I looked away for a few days, and I see that silver coin prices are sitting at $12.11/oz. - over $2.00 less than the last time I looked! What the hell??? Is silver back on the downturn? Did I miss my chance at fortune and fame, when it was over $14.00? Or, is this just a temporary correction, only to last a week? I WAS planning on selling about 1/2 of my junk silver once it got into the $15.00 range. Then, I'd hold the rest until it topped $20.00, which I was hoping would be in December. Right now, it's looking like it's going back down to the $5.00-$6.00 I got it for. Crazy, man! Just crazy! -- Eric Babula Milwaukee, Wisconsin, USA The mark of a true bull market, as opposed to a temporary spike in prices, are periodic corrections. The metals markets, being thinly traded (compared to most financial markets) are subject to rather large violent swings in price. Since the basis for the previous rises in metals prices i.e. inflationary pressures, increasing commodity demand, and a falling dollar are still very much alive, I think this is a bull market correction and the upward climb will continue after a period of consolidation. John Visit the RCCers favorite coins web page http://mysite.verizon.net/jcarney44/coins/rccers.html Yep--market correction--like everything has dropped right along with oil prices. Stocks really dropped as well--there's very few places to hide when this kind of drop happens across the board. It's all from fears of continuing Fed rate hikes due to wanting to keep inflation in check. Tuesday they had a report that showed signs of higher inflation so they all reacted to that. And there's also fears of a continued weak dollar. So whoever is not a scardy-cat is probably raking in the dough right now. |
#10
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What's the deal with silver prices?
Good question. Been two days, and no one did yet!
"Jud" wrote in message oups.com... The part I don't understand is that precious metals are supposed to be a hedge against inflation. Well, the stock market was in free-fall this week because of inflationary warnings, but precious metals tumbled as well. I would think that if the economy is going down that silver and gold would go up. I am no genius, perhaps someone can explain this to me. |
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