Silver starting to move

[Saabman]

Sell no. Trade one shiny for another - strong possibility...

I was thinking the same thing. Au/Ag ratio is looking better and better.

[68Camaro]

Ag cleared $45 with some distance, and (for the moment) is staying there...

[Lemon Thrower]

remind me, what is the ATH and when?

[Cu Penny Hoarder]

remind me, what is the ATH and when?

$49.95 per oz... on January 17, 1980.

April 2011 it reached $47.94.

This time...

[68Camaro]

The 1980 high was a bubble, as we know. But the inflation since then would multiply that by 3.92, so we would need to approach 200/oz to match that level.

The 14 year inflation multiple to 2011 is 1.44, so we would be looking at $69/oz to be equivalent to that bubble top. I think we will peak well above that during this bull streak.

[Cu Penny Hoarder]

The 1980 high was a bubble, as we know. But the inflation since then would multiply that by 3.92, so we would need to approach 200/oz to match that level.

The 14 year inflation multiple to 2011 is 1.44, so we would be looking at $69/oz to be equivalent to that bubble top. I think we will peak well above that during this bull streak.

Yup, but there's no bubble this time.

After it breaks $50 my crystal ball tells me it goes to $70 very quickly.

Finally. Been waiting for this for this type of price movement for 14 years!

[68Camaro]

I was wondering if silver could tag 46 this week. At the rate it's moving this morning, it might make it by noon! (13 minutes)

[68Camaro]

I was wondering if silver could tag 46 this week. At the rate it's moving this morning, it might make it by noon! (13 minutes)

Dang - that didn't take long. 3 minutes. Officially over $46...

[68Camaro]

Less than 2 bucks to break the non-adjusted recent high (1980 was an outlier price - not really a good comparison). Could happen next week...

[mtalbot_ca]

Would it be enough to initiate a BIG MELT 2.0 ?

[68Camaro]

Would it be enough to initiate a BIG MELT 2.0 ?

CPH has posted links to PM shops that show that BM2 has been underway for weeks already. They are converting coins and rounds into comex and lbma bars. The issue has been smelting capacity, which apparently isn't enough to deal with the short term surge in desire for ETF bars. They are melting everything except perhaps for the extremely rare (if they find and or notice it).

[Cu Penny Hoarder]

Would it be enough to initiate a BIG MELT 2.0 ?

CPH has posted links to PM shops that show that BM2 has been underway for weeks already. They are converting coins and rounds into comex and lbma bars. The issue has been smelting capacity, which apparently isn't enough to deal with the short term surge in desire for ETF bars. They are melting everything except perhaps for the extremely rare (if they find and or notice it).

Now smelters/refiners are getting backed up with 90% and 92.5 silver. It's more labor intensive to separate the silver from the other base metals. They're starting to lower their buy prices to compensate. .999 does not have any issues... not yet anyway.

Whatever you do, do not sell your 90%. I repeat... DO NOT SELL YOUR 90%! Huge amounts are being melted and continue to be melted. They aren't making anymore of it. If you must sell, sell your generic rounds and bars.

[68Camaro]

This is a little crazy, but 47 by the end of the day is now looking not impossible!

[pmbug]

silver trek to moon.jpg (81.38 KiB) Viewed 318 times

[68Camaro]

Silver crossed 47 overnight, but is bouncing around below and above that line, as gold passes 3800.

[Cu Penny Hoarder]

This is a little crazy, but 47 by the end of the day is now looking not impossible!

The most crazy thing is that silver has not tracked inflation and has been dead money for the last 14 years. It's about time it plays catch-up!

[Recyclersteve]

This is a little crazy, but 47 by the end of the day is now looking not impossible!

The most crazy thing is that silver has not tracked inflation and has been dead money for the last 14 years. It's about time it plays catch-up!

Amen to that! And of course we have the government shutdown as well. This will be interesting to watch!

[68Camaro]

Ag making a move on 48, with Au pushing on 3900!

[NDFarmer]

So, what price does silver have to get to that would trigger you to sell a good majority of your silver?

I have always been a buy and hold person with the intention of passing it on to my kids. If silver doubles again and gets close to $100.00, I would hate to ride the price back down to $25.00. But then if the silver price goes up 25 times like gold has done since the mid 70's that would put the price of silver over $1000.00 per once in 30 - 40 years. Not saying that is going to happen but I'm sure back when gold was $150.00 no one ever thought of it going to $4000.00

[68Camaro]

So, what price does silver have to get to that would trigger you to sell a good majority of your silver?

I have always been a buy and hold person with the intention of passing it on to my kids. If silver doubles again and gets close to $100.00, I would hate to ride the price back down to $25.00. But then if the silver price goes up 25 times like gold has done since the mid 70's that would put the price of silver over $1000.00 per once in 30 - 40 years. Not saying that is going to happen but I'm sure back when gold was $150.00 no one ever thought of it going to $4000.00

This is a repeat question and answer, but for me it's not about selling into FRNs. I would never do that except to deal with a short term financial issue that I couldn't handle with my other resources. But I would trade from silver to gold at some point, to reduce weight and volume and improve logistics of it. That depends more on GSR than price. I think the current GSR is too high, but if it approached 60 or below I might start trading into gold, or trading into more liquid forms of Ag.

[68Camaro]

remind me, what is the ATH and when?

$49.95 per oz... on January 17, 1980.

April 2011 it reached $47.94.

This time...

We hit $47.81 at 10:35 this morning, according to tradingview.com - almost passed the previous non-Hunt record, unadjusted for inflation. It still has a bit left to go to tie or break the inflation adjusted value.

[Cu Penny Hoarder]

[68Camaro]

Silver technically passed 48 for a moment, then a simultaneous beat down occurred in both silver and gold, combined with a pump up of the USD. This has happened every day this week between 10 and 12 noon. Generally gets reversed overnight in the Asian markets, but you can see the battle for 4000 and 50 playing out.

[Cu Penny Hoarder]

Silver technically passed 48 for a moment, then a simultaneous beat down occurred in both silver and gold, combined with a pump up of the USD. This has happened every day this week between 10 and 12 noon. Generally gets reversed overnight in the Asian markets, but you can see the battle for 4000 and 50 playing out.

Yes, very blatant. 8am-12pm is the typical time to sell millions of contracts into the market to smash the price down.

And some ppl still say the PM prices are not manipulated

[pmbug]

Finally getting the dip sale I've been anticipating. China markets are closed for Golden Week national holiday. I was expecting a dip to start yesterday but glad to see it today as I was saving some fiat for a buy.