Ammo9
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Post by Ammo9 on Nov 1, 2014 15:21:41 GMT 10
So there's been a lot of silver talk lately, a fair chunk of it from me though but through the replies and messages I've had, there is obviously a group of us with interest in precious metals and silver in particular.
This thread is for silver related questions, discussions and perhaps even people looking to sell, buy or trade. Though after initial interest is established please take it to private messages. Feel welcome to post links to related articles or sites and anything you want to in relation to silver.
So silver is down about 6% for the month and nearly 17% for the year. Who sees this as a good time to buy and who thinks it will slow further? American eagle silver coins are apparently selling better than ever, so there is a significant number of people with faith it will recover but who's a sceptic?
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Ammo9
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Post by Ammo9 on Nov 1, 2014 15:38:34 GMT 10
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Matilda
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Post by Matilda on Nov 1, 2014 17:16:48 GMT 10
Got this off SilverStackers.
When you think of the industries that China rely on for silver for solar panels, medicine, etc., the fellow has a point.
BTW - the night that he put up the video, someone leant on Google and they took him down. He has been doing this since 1999. I believe SilverDoctors have given him some space to continue.
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Post by You Must Enter A Name on Nov 1, 2014 18:19:05 GMT 10
Matilda, I have been following this issue for a while, not 100% sure it's going to happen this year, but I am sure eventually China is going to demand everyone who owes it money pay up, when that day comes the whole western world is going to plunge into darkness.
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Ammo9
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Post by Ammo9 on Nov 1, 2014 18:41:43 GMT 10
Those are some big numbers and huge problems... Bigger than what one little prepper can handle. What's your take on this matilda?
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Matilda
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Post by Matilda on Nov 1, 2014 19:51:44 GMT 10
Stack em high! There is nothing we can do unfortunately, as the wheels have been set in motion long, long ago. I think being a Prepper is the best thing you can do for your loved ones. Have you heard of Chris Duane? What about SilverShield Silver Bullet? He created a collection of coins - 1oz silver - with a message on each of them. You might have to do some searching as he has had a falling out with one of the people he trusted to help get his dream up and running. I think the dude stole the name 'Silver Shield - Silver Bullet and the 'coin plates/mould'. I believe Chris is now using the name 'Don't Tread On Me' which is probably a veiled threat to the one who stole the plates. Anyway, if you can get a hold of any of these coins, hold them as a collectable, but you will pay a huge premium. After these new coins are struck, the plates are destroyed so they don't fall into the wrong hands for them to ride on Duane's success. I wanted to buy my DIL 3x1 oz coins for her birthday, of his Freedom Girl - the one walking over the skeleton of the bankers. I could have bought it just 6 months ago for $30, but they are now over $100. My son said she would probably prefer the money to buy herself something.  But. Chris Duane has just released a new series. The 7 sins of Obama. The first one in the series can be purchased for around $35, which is way over spot, but as a collectors item or a Christmas gift, they will only go up in value especially as they have been long awaited. Here is the video that has been released with the first coin. BTW, Perth Mint did have the Silver Shield coins until they sold out. Not sure if these new ones will be available thru them. |
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Ammo9
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Post by Ammo9 on Nov 7, 2014 16:19:54 GMT 10
www.kitco.com/news/2014-11-06/Silver-Coins-Sales-Surge-As-Prices-Decline-US-Mint-Runs-Out-Of-Inventory.htmlSales of silver coins have picked up sharply as the price of precious metals declined, so much in fact that the U.S. Mint says it has run out of American Eagle silver bullion coins for now. “This is to inform you that due to the tremendous demand we have experienced in the last several weeks, the U.S. Mint has temporarily sold out of its American Eagle silver bullion coins,” the Mint said in a memorandum to authorized purchasers late Wednesday. “We continue to produce 2014-dated coins and will advise you when additional inventory will be available for sale.” The U.S. Mint’s website shows that sales of gold coins were strong in October, with the combined total of 88,500 ounces for American Eagle and Buffalo coins the most since this January. Silver Eagle coins sales were even stronger as the total of 5.79 million ounces was the most in a single month since January 2013. Mint sales in November were also strong before the agency ran out of silver coins, said HSBC analyst Jim Steel. As of a couple of days ago, the Mint had already sold 625,000 ounces of silver coins so far this month. “At that pace, total sales for the month would be 6,250,000 ounces, up 420.8% from a year earlier,” Steel said. The most recent data on the Mint’s website shows that as of Wednesday, less than a full week into November, sales were already 1.26 million ounces before the stockpile was depleted. Gold sales also remained strong, with combined Eagle and Buffalo sales of 28,500 just three business days into the new month. The increased sales come amid lower prices for gold and silver. December silver hit a low of $15.12 an ounce Wednesday on the Comex division of the New York Mercantile Exchange. On a futures continuation chart, this was the lowest price since February 2010. “In the physical markets, we are seeing quite a bit of activity in silver,” said Edward Meir, commodities consultant with INTL FCStone, adding that one news service reported a “global scramble” to buy coins and bars. He also cited reports that Asian retailers are “barely keeping up” with supplies. “In September, the Royal Canadian Mint also started rationing supplies of its Maple Leaf silver coin in light of strong buying,” Meir said. “All these people are obviously unfazed by the recent decline in silver prices and are continuing to purchase metal, unlike the case in gold, where Asian jewelry offtake is steady, but certainly not spectacular.”
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Post by You Must Enter A Name on Nov 7, 2014 21:10:26 GMT 10
Austemplar I think the time to start buying is either now or very soon, given that demand has started to create a shortfall I do not see prices dropping farther, that's my opinion of course but generally the basics of supply and demand are fairly universal.
Any thoughts mate? you seem to have a handle on this stuff.
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Ammo9
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Post by Ammo9 on Nov 7, 2014 22:18:30 GMT 10
I'm considering getting another order before my planned schedule. I was going to order a SBSS 2oz warbird but they're sold out from goldstackers and I hate that I didn't get it when I saw it. I think it's a great design and they were a good mark up over spot for what they are.
The problem I have is that this month I need to pay my rego, service my car and pay for my glock (new gen 4, 10 mags, 500 rounds of ammo).
And in the past fortnight I've obtained several ounces of silver, if I'm wrong about this then it's going to be frustrating.
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Ammo9
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Post by Ammo9 on Nov 7, 2014 23:46:12 GMT 10
More focused on gold, but article touches on silver.
online.wsj.com/articles/gold-falls-to-4-year-low-1415185199Click link for video.Gold and silver prices sank to 4½-year lows Wednesday, weighed by a soaring dollar and expectations of more stimulus from the world’s largest economies. Gold for December delivery, the most actively traded contract, closed down 1.9% to $1145.70 a troy ounce, its lowest level since April 22, 2010. December silver fell 3.2% to $15.439 a troy ounce, after earlier touching $15.120, its lowest level since Feb. 10, 2010. Bank of Japan Gov. Haruhiko Kuroda defended last week’s unexpected increase in asset purchases and pledged to do whatever it takes to eliminate deflation and spark growth, putting the central bank on a different path from the U.S., which ended asset purchases in October and is expected to raise rates next year. The news sent the dollar higher against the yen and other currencies, a negative development for precious metals, which are priced in dollars and become more expensive to foreign buyers when the currency climbs. Gold investors also kept an eye on the European Central Bank, which concludes its monetary policy meeting on Thursday. Some investors expect the ECB to eventually increase its stimulus measures, a move that could strengthen the dollar against the euro and lead to more weakness in gold. On Friday, the U.S. Department of Labor will report nonfarm payrolls. A strong U.S. jobs report likely would lead investors to believe the Fed will raise rates sooner than expected, also benefiting the dollar. The ICE Dollar Index, which measures the dollar against a basket of currencies, was recently up 0.5% to 87.456, its highest level since June 2010. The strengthening dollar and more hawkish Federal Reserve are undercutting expectations for rising inflation, a key reason for buying gold and silver. “Despite the trillions of dollars of stimulus over the past several years, most central bankers are worried about deflation, not inflation,” said Edward Meir, a strategist at INTL FCStone. “In addition, the roaring U.S. equity markets continue to siphon off assets away from alternative investments, including gold.” The Dow Jones Industrial Average hit a record intraday high Wednesday. Silver, which is used for industrial applications, is hurt by slowing growth in China, Japan and Europe, Mr. Meir said. Gold prices have retreated about 17% from their highest levels of the year, reached in March. Some investors believe the metal’s slide may halt when it declines to $1050-$1080 an ounce, the estimated cost for companies to produce an ounce of gold. At that level, producers may mine less of the metal, shrinking global supplies, said Bob Haberkorn, a broker at RJO Futures. “Until then, I wouldn’t touch it,” Mr. Haberkorn said. Platinum and palladium joined in the rout as well, with investors worried that demand for the two metals, which are used primarily in auto exhaust filters, will suffer as the global economy slows. Palladium fell 4.2% to $757.85 a troy ounce, its biggest one-day drop since June 12. Platinum settled down 1.2% at $1,210.60 a troy ounce, its lowest level since July 30, 2009. |
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Ammo9
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Post by Ammo9 on Nov 7, 2014 23:47:37 GMT 10
www.bulliondesk.com/gold-news/focus-jp-morgan-lowers-gold-silver-forecasts-slack-buying-interest-84713/JP Morgan has lowered its 2015 and 2016 average gold and silver price forecasts on reduced demand from investors and consumers. The broker reduced its 2014 gold forecast by two percent to $1,275 per ounce because these key supportive factors have been underperforming throughout the year. “While seasonal, physical buying emerged in Asian markets in September after a drop in price, many headwinds strengthened at the same time,” it said. “The Asian gold consumer – a major supportive factor last year – proved to be very price sensitive and has been unwilling to step into the market at prices above $1,260,” it added. “Gold investors, in both Western and Asian countries, have also been largely absent from the market for the majority of this year.” The bank also revised its forecast for 2015 four percent lower to $1,220 per ounce, citing lower inflation, reduced inflation expectations, higher US interest rates and a stronger US dollar. The spot gold price was last at $1,146.50/1,147.30 per ounce, up $3.30 on Wednesday’s close, with the dollar at a near-two-year high against the euro at 1.2422. The bank also downgraded its silver price forecasts for both 2014 and 2015 – it now sees silver averaging $19.56 per ounce this year, down five percent on the previous forecast of $20.52. It also forecast silver to average $18.25 in 2015, down 12 percent on its previous prediction of $20.75. Silver bottomed out at $15.39/15.43 per ounce earlier, just above the low of $15.15 it hit yesterday, which was the lowest since February 2010. - See more at: www.bulliondesk.com/gold-news/focus-jp-morgan-lowers-gold-silver-forecasts-slack-buying-interest-84713/#sthash.GU0WN3rP.dpuf
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Post by You Must Enter A Name on Nov 7, 2014 23:50:42 GMT 10
I'm considering getting another order before my planned schedule. I was going to order a SBSS 2oz warbird but they're sold out from goldstackers and I hate that I didn't get it when I saw it. I think it's a great design and they were a good mark up over spot for what they are. The problem I have is that this month I need to pay my rego, service my car and pay for my glock (new gen 4, 10 mags, 500 rounds of ammo). And in the past fortnight I've obtained several ounces of silver, if I'm wrong about this then it's going to be frustrating. If you are wrong, will the price of silver eventually go up? or forever remain down? I hear you on money expenditures though. Gas, Elecetricty, rates (I always pay in full and on time, more for the council coffers to gain interest on and hopefully reinvest into the community) car rego (two incomes though) all in the last month. add to that mortgage and all other things it gets tight, luckily we have no kids, my mate calls us DINKS (Dual Income No Kids) they have four kids and one income, yet they make it work, go figure? If you have a schedule and a savings plan, unless you have a hot market tip no one else does I personally would not break from it just yet. |
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Ammo9
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Post by Ammo9 on Nov 7, 2014 23:50:58 GMT 10
www.ft.com/fastft/231942/why-gold-is-expensive-vs-silver-chartsA yardstick investors use to check whether gold is overvalued has hit its highest in five years. Still, this may not be just another signal to sell the yellow metal. The gold-silver ratio touched 74.7 earlier on Thursday. In other words, the gold price is 74.7 times the silver price. That is its highest since 2009. And the "normal" level for this ratio is around 60, according to London consultancy Capital Economics. Goldbugs track this ratio because they have little else with which to assess the value of gold, which unlike property, shares and bonds does not generate any income. Gold offers no rent, no coupon and no price-to-earnings multiple. The high ratio (see first chart) could be a cue that the gold price remains too high as the metal, often held as a hedge against dollar weakness and potential recessions, comes under selling pressure after growth of the US economy rebounded. But Capital Economics' Julian Jessop has another take. He attributes the wide ratio not to gold being too expensive, but to silver being too cheap. This is because silver's multiple industrial applications - it is used in electronics, for example - mean demand should increase as the global economy recovers. He also observes (see third chart) that silver is doing badly compared to other industrial metals. Mr Jessop writes: Silver's recent underperformance has left it looking even cheaper relative to gold. Industrial demand is more important for silver than for gold, so the former should benefit most from any recovery in the global economy. We therefore continue to expect the price of silver, currently just over $16 per ounce, to rise to $20 by end- 2015 and $23 by end-2016 – with the risks to these forecasts skewed to the upside. This would trim the ratio of gold to silver prices...to a more normal 60.
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Post by You Must Enter A Name on Nov 7, 2014 23:52:18 GMT 10
While I wrote that one post, you made two that are worth a million, Your not actually Ross Green the money minute guy are you?
EDIT: make that three
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Ammo9
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Post by Ammo9 on Nov 7, 2014 23:54:10 GMT 10
I'm just scrolling through investment related news.. I found a SBSS 2oz Warbird for $52 delivered, so I bit the bullet. Less of a 'silver buy' and more of the fact I love the design. The army paid me $70 bucks this week and I've go no idea what for... So I figured what the hell haha
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Post by You Must Enter A Name on Nov 7, 2014 23:56:53 GMT 10
I'm just scrolling through investment related news.. I found a SBSS 2oz Warbird for $52 delivered, so I bit the bullet. Less of a 'silver buy' and more of the fact I love the design. The army paid me $70 bucks this week and I've go no idea what for... So I figured what the hell haha Future investment? on the armies part that is. |
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Ammo9
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Post by Ammo9 on Nov 8, 2014 0:10:54 GMT 10
Haha unlikely!
It'll be for something I should have been paid in like 2012 but they've just gotten around to it...
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Post by You Must Enter A Name on Nov 8, 2014 0:22:03 GMT 10
As my mother always says (she is a Captain but retired) "If I want your opinion I will give you one" I suspect that this is true in all aspects of the army, they will pay you when they deem fit, then again I am a civilian so shh from me now  |
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Frank
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Post by Frank on Nov 8, 2014 8:08:45 GMT 10
My thoughts on precious metal investing are pretty simple (although putting thoughts into practice is abit harder haha)
Besides buying at the lowest you can, only buy what you can afford to lose. Similar to shares or gambling there is always the chance that the arse will fall out of it and it will be worth bugger all. If buying for post SHTF only, then this won't be to much of an issue.
In theory metals prices will go up over time, in the long term that is. The problem occurs when you have massive increases over the relative short term. For example, looking at the silver prices over the last 30 years, there was next to no increase from 1985 to 2005. From '05 to '10/11 went up 4x to around $40/oz. The decrease curve over the last couple of years is a very close mirror image to the increase, although the decrease maybe slightly levelling out.
As with anything though it comes down to supply and demand I guess
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Post by Nighthawk on Nov 8, 2014 9:01:13 GMT 10
The army paid me $70 bucks this week and I've go no idea what for. It's your 1.5% pay increase. They paid it as a lump sum  |
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But. Chris Duane has just released a new series. The 7 sins of Obama. The first one in the series can be purchased for around $35, which is way over spot, but as a collectors item or a Christmas gift, they will only go up in value especially as they have been long awaited. Here is the video that has been released with the first coin. BTW, Perth Mint did have the Silver Shield coins until they sold out. Not sure if these new ones will be available thru them. 
