I buy it every year in October..... But this is probably my last. Silver from here on out. I simply just can't afford it.
I've never purchased a 5oz button but I have to say they are very cool.
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Gold and silver prices are down
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I've never purchased a 5oz button but I have to say they are very cool.
steven grammont
NES Member
The 10 ounce bars are my favorite.......... I'm still kicking myself in the ass for not scooping up that kilo bar that was for sale on here during the summer.
I think with that prediction you put yourself in very good company--of analysts who have already been proven wrong multiple times this year. If I still trusted silver, I'd be more invested in it. Frankly, I don't understand WHY it's going up right now, and I would very much like to before I bet that it won't revisit $28 before it goes to $50.
HappyHarry
NES Member
Interesting article about the large U.S. banks shorting silver:
Silver Prices Surge: Banks Face Billion-Dollar Losses
Silver Prices Surge: Banks Face Billion-Dollar Losses
Varmint
NES Member
This isn’t what you think, it isn’t all just banks short silver cause they want it to go down, these bullion banks also hold contracts of silver producers, who like to hedge their production in case of a silver price drop. And the bank isn’t down on those shorts, the silver producer is.
Also $1.3 billion is nothing for JP Morgan, they can afford a hundred times that. You might see a short squeeze but it’ll probably hurt hedge funds more than the big banks.
Varmint
NES Member
How much more does SILJ have to go?
I need to close this position but have patience.
I need to close this position but have patience.
I have been bag holding since 2021.
yogi
NES Member
I can’t believe I am asking this but what is “bag holding”?
Varmint
NES Member
Hard to say - it’s not yet reflecting $35 silver, so it really depends on what the silver price does. I bought silver miners cause I expect silver to go to $100+ eventually, so I’m not selling except to rotate into other miners.
Silver and SILJ are both overbought, could be a good move to sell and get back in lower, but that’s very difficult. You sell at $35, it drops to $32 or $31, and you wonder if it’s going lower so you don’t get back in. Then it goes to $38.
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Varmint
NES Member
Maybe this?
Etymology. The expression "left holding the bag" originated in eighteenth century Britain and spread throughout the English-speaking world. In this context, a person left holding the bag is stuck with the stolen goods, taking the blame from the police while the rest of a criminal gang escapes.
Not that I'm 100% successful in controlling my own psychology, but if I wanted to cry over missed opportunities, like closing out my PSLV position a month too soon, I could just brood over not buying NVDA back when Chat GPT first made the news.
richc
NES Member
Varmint
NES Member
I’ve fortunately gotten over that - it’s a form of FOMO and will screw up your investing if you’re thinking about what you missed rather than what you should do next.
But it’s good to think about why you didn’t buy something or sold something too soon, to see if your strategy needs adjustment.
Varmint
NES Member
Gold miners and even silver miners seem to be expecting a big pullback in metals prices, but gold and silver haven’t got the memo.
So either we have to get that pullback in the metals, or we keep going higher and the miners will keep being dragged slowly upwards.
Varmint
NES Member
$2770 also has a nice ring to it. After hanging around $1800 for years it’s hard to believe gold is almost $1000 higher.
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You bought an
Ounce of gold at the current price?
Yes, when you're ultra wealthy like me it's no big deal....
If you've read my other posts you'll see that this was probably my last gold purchase and switching to only silver.
Varmint
NES Member
If that was the big sell off that was weak. I wouldn’t mind a sell off cause I have some cash to deploy.
This is a marked change from the 4am dumps.
Trafficdiver
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In God We Trust
NES Member
YOLO!Me considering $2800 Krugerrands.
Looks like the price wanted to go up at open, but 4 times gets clubbed down to successively lower levels. Yet after each time it buoys up from the low at a slower rate.
Varmint
NES Member
I want a sell off, I don’t like having cash on the sidelines (I sold some stocks recently).
richc
NES Member
Individualist
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Yawn. Wake me up at $10K gold and $400 silver.
In God We Trust
NES Member
I’ve been meaning to sell my wedding ring. Wonder what it will fetch me? Not even sure if it’s 10k, 14k. Seems like a good time to dump it and buy ammo.
There is a precious metals dealer in Worcester who pays spot price for bullion coins and very fair prices for jewelry.
Varmint
NES Member
I’m listening to Christopher Aarons who’s a gold chartist, talking about how the charts say gold may top out at $2750 and the bull market is over.
Has anyone heard a gold technical analyst who called the recent rally? I haven’t heard a single one who predicted when or how fast and how high gold would go the last 6 months. I question the usefulness of gold technical analysis these days for anything but short term trading (1-3 months). Maybe the Fed has broken the charts as well as everything else?
Has anyone heard a gold technical analyst who called the recent rally? I haven’t heard a single one who predicted when or how fast and how high gold would go the last 6 months. I question the usefulness of gold technical analysis these days for anything but short term trading (1-3 months). Maybe the Fed has broken the charts as well as everything else?
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