Any other silver investors here? I have been investing in silver for 7-8 months now. Started when it was at 32.00 an ounce and it's taken a dive ever since. Looks like it's on the rise again in the last couple of days. I'm hoping it keeps on it's upward climb. It has so many inherent qualities that seem to make it a great investment but the physical demand hasn't seemed to have much of an effect on the prices.....what gives?
James 5:3 Your silver and gold are corroded, and their corrosion will be a witness against you.........and so on and so forth.
by androb31 8 Replies latest jw friends
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AndDontCallMeShirley
Are you investing in silver futures or the physical commodity?
One great fallacy investors have is that the markets are supposed to make sense.
In 2008, when Crude Oil was hitting $150 a barrel, the world was sitting on a 5 year high in inventory. The price of crude oil should have remained level or even declined.
Everything has its cyclical patterns. Silver is no different.
Look at a Silver chart. You'll see right now that prices have found support where they were when the bull market began in 2010. If support holds prices may begin heading up once again. Hopefully you were not buying at the top of the market: $50/oz.
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androb31
I've only invested in physical silver. I know I'm jumping the gun, being impatient and all . I jumped in due to all kinds of hype from the hurry up and buy crowd. It's definitely an investment to sit on for awhile and bide my time. I agreee though, it seems like whenever it looks certain it's going to go in one direction or another, it never goes in the direction you would think.
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AndDontCallMeShirley
androb31 you have a PM.
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Truth seeker 674
I have a small portion of my portfolio in commodities, silver is a metal with many industrial uses and because of the internet commodity prices fluctuate more these days. There is a slow down in Chinese manufacturing. Don't call me shirley, markets do make sense from a historical perspective when all the information is known, but thier very difficult to predict while your living through the times you are in.
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AndDontCallMeShirley
Don't call me shirley, markets do make sense from a historical perspective when all the information is known
I agree. What I was alluding to is that markets often do not trend in the direction they are "supposed" to go, at least in the short term, and occasionally the impossible can and does happen.
But, to your point, prices do follow cyclical patterns, which is why technical analysis (charts) are a valuable tool. Emotions often play with our real-time perceptions of market activity, which also is a key factor in the "this doesn't make any sense" scenarios we often see.
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WTWizard
I got plenty of silver, and not that paper variety. If you bought a promise for silver when it was 50 toilet papers, you took a bath. However, if you bought it gradually while it was doing its stuff, and got the real thing, you didn't unless you sold it. I started buying when it was in the lower 30s headed for 50--buying more each time it dipped. I bought little when it was in the 40s and climbing, but I bought it when it was falling. And, each time it got whacked, I bought some more physical. Always the real thing. And I topped off when it was around 18 but you couldn't get it without long wait times and high premiums.
Of course, I am sitting on it. Just because the LIE-ble says that silver tarnishes and loses its value means nothing. The same scumbags that put together the LIE-ble are running the banks, and pulled that crap to panic everyone else into selling. That it's in the LIE-ble adds weight to this, and many a xian foolishly sold their silver when it dropped. Then the banks went in and bought it quietly at the lower price--and this did little but create a shortage of silver. Its fair value is well in excess of 50 toilet papers per ounce, and I would estimate closer to 200. That number is going way up once the shortage develops. You buy at less than 24, you got it for less than what it actually costs to get it out of the ground. And miners are not working for zero profit--once the supply dries up, you will see it go way up. Along with those idiots that shorted silver panicking when it starts going up, that is going to drive silver to the moon while the dollar becomes toilet paper.
As for those witlesses who claim it's wrong to trust in physical silver and gold as money, they are communist. All xians follow communist principles, driving everyone down to the lowest level. Instead of building everyone up, this just brings everyone down--something the witlesses are great at. This is probably the major reason they are so against anyone investing in silver--to prevent anyone from standing out. It also installs the poverty-is-a-virtue mindset that is so common within Christi-SCAM-ity. And yes, just before it broke out, I bought a few more ounces--only to watch the latest price defy another smackdown and bounce up more than a toilet paper on the day.
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androb31
I started buying at $32 (about 7 months ago or so) and I've gotten some around $27 an oz and some as low as $20 recently. I am trying to do the dollar cost averaging and just buy a little bit every time I have some extra cash. I have built up about 90 oz's give or take a few oz's. I certainly plan to sit on it and do believe it will pan out over time.
I listed that James 5:3 scripture based on this ongoing inside thing w/ my brother (we both came out of the witnesses and he's now a pastor of a small church but not a legalistic judgemental type). Every time I buy some silver I tell him I'm building up my silver and gold for the last days and we both get a laugh out of it due to the mindset we grew up w/ as witnesses.
I've actually quite enjoyed collecting some of the old silver U.S. coinage, it has sorta become a side hobby more than just the investment aspect of it. I got a really cool 1783 8 Reales coin from an old shipwreck. I bought some actual .999 bullion just recently but have mostly U.S. Morgan and Peace dollars and junk quarters, dimes and 50 cent pieces.