PM's in freefall??

[Pritchard]

i am still trying to find the trigger in the news articles, but my trading today has been down across the board. UK, US, JPN markets all down, massively down. and comodities.

FSTE 100 is down about 300points now in recent days.

while this is normal enough to see these mini corrections. i dont usually see an across-board drop on a single day.

 

 

[*tada*]

On a side note, I noticed recently there is a dearth of premium quality graded materials on eBay (US) for sale, be it nice US coins, libertads, or sovereigns. Hopefully this set up for some nice run in the future.

The very high end market through auctions are also very strong.

PM...well if the Fed keeps hiking and later in the year shrink balance sheet, who knows where it would be. RMB also at 6.94 vs USD today, close to the emergency line @7. Once that breaches, it will set off some really sensational panic selling.

[StackerNoob]

38 minutes ago, BackyardBullion said:

I would just like to add my 2 cents here 

PM price drops are common and they often correct themselves (maybe not all the way) to a certain degree. Just because prices are falling today does not mean anyone should rush out and buy. I have and always will advocate sticking to buying strategies and to always buy within your means. 

Also, don't put all your eggs into one basket - whilst prices are low that does not mean that they should be the sole focus of a saving strategy.

Personally, I am going to be spending the same amount of money I had planned to this weekend - all it means is I will get a few more oz's for my money!

That is definitely code for:

"OH GOD PLEASE STOP SENDING ME YOUR GROUP ORDERS MY HEAD IS GOING TO EXPLODE AND DESPITE WHAT I HAVE CLAIMED THERE IS NO WAY MY TABLE CAN HANDLE ANYMORE. ALSO MY HOUSE SUFFERS FROM SUBSIDENCE AND THE EXTRA WEIGHT MAY WELL SINK ME".

 

Or maybe you are being genuine. My way is more fun though ?

[SilverSkoobz]

1 hour ago, HawkHybrid said:

what does your strategy say you should be doing?

 

summer is usually a time for lower pm prices. it's a

matter of time and not price. I would not go all in at

this point as there are things that are unclear that

might get clearer in the autumn. imo long term buys

on offers should be ok.

 

HH

I set my own personal support lines.  I initially bought all the way down from about 17.50 but haven't gotten anything in the 15 range at all.  I am ready for a somewhat moderate sized purchase to finish off my yearly goal however I am holding off.  I won't jump back in unless silver goes BACK UP to 14.75/oz.  If it hits 14.25 I won't buy unless it goes BACK UP to 14.50.  I basically will work in 25 cent marks.  If it keeps going down I'll set another mark, 25 cents from that etc...

I really want to get a few oz of gold and was looking to buy as early as about last week.  I'm happy I didn't.  My LCS premium is 50/oz and I probably just saved that by waiting 3 days!  

I think this is a real great opportunity.  I don't want to disparage anyone who stacks PM's but I am absolutely not a person who fears a collapse of fiat etc.  I see this as a great chance to invest in the markets, ride that up and once it levels off and comes down take my profits and put them into a very undervalued metals market.  

[PansPurse]

51 minutes ago, BackyardBullion said:

I would just like to add my 2 cents here 

PM price drops are common and they often correct themselves (maybe not all the way) to a certain degree. Just because prices are falling today does not mean anyone should rush out and buy. I have and always will advocate sticking to buying strategies and to always buy within your means. 

Also, don't put all your eggs into one basket - whilst prices are low that does not mean that they should be the sole focus of a saving strategy.

Personally, I am going to be spending the same amount of money I had planned to this weekend - all it means is I will get a few more oz's for my money!

It'll influence me a little. I might put in funds this month that might otherwise have been spent next month. But I'm not selling the house and kids based on this

[matrawr]

Unfortunately I have no spare funds until the end of September if the silver gods are in my favour they'll keep the price low until then at least! 

[SilverSkoobz]

To expand on my earlier comment, I am really interested in buying BU coins at a nice low price and build that part of my holdings.  When prices go up to a level I deem too high for BU coins I'll go back to getting bars, rounds etc.

[knighthawk]

If it drops any further I'll buy a little bit more silver just so my purchase tracking spreadsheet looks a bit more impressive.

[Bagenz]

Think we should all be buying what silver we can, Krugs now £13.13, Queens Beasts 2 Oz £27.60. how low can they go

[HawkHybrid]

2 hours ago, Martlet said:

Biting tounge on this, but look at a XAU/USD long term chart, multiple lines of support been breached.  Many dont like technical analysis but traders follow them and they make the market.

 

technical traders like to follow the trend so are likely

outside of their comfort zone. they are not gamblers

(those that are, are unlikely to be trading for lengthy

amounts of time). the market has moved against their

previous analysis(broken the previous trend), I doubt

they are the ones making the calls at this point and are

more likely to make trades when the market feels more

predictable. losing money is a lot worse than sitting

tight and re analysing the situation.

personally I think some technical traders are too rigid.

the use of a flexible approach to technical analysis of

the current price movement should show that the trend

dating back to dec 2015 has not broken yet.

 

HH

[Martlet]

18 minutes ago, HawkHybrid said:

 

technical traders like to follow the trend so are likely

outside of their comfort zone. they are not gamblers

(those that are, are unlikely to be trading for lengthy

amounts of time). the market has moved against their

previous analysis(broken the previous trend), I doubt

they are the ones making the calls at this point and are

more likely to make trades when the market feels more

predictable. losing money is a lot worse than sitting

tight and re analysing the situation.

personally I think some technical traders are too rigid.

the use of a flexible approach to technical analysis of

the current price movement should show that the trend

dating back to dec 2015 has not broken yet.

 

HH

Support line from Q4 2015 was broken mid-July with a bearish signal of the 20MA going through the 50MA. Someone put me on to that back then but i dont have the decisiveness to the act on technical analysis. Past two weeks price nudged off a longer support back to Oct 08, with recent support at around 1200-1210. And now we see a substantial fall through once that support was breached.

[HawkHybrid]

are you using the low in 2017 to draw the lower trend line?

(2 points don't make a trend)

 

HH

[Big23]

3 hours ago, BackyardBullion said:

She is a sturdy old girl - can take my weight easily enough so we are good for now ?

Challenge accepted!  

[jonrms]

If it gets to 10 dollars a ounce, I will be happy and very upset at the same time. But I would move or divert funds into buying gold and silver more rapidly and then stop and evaluate from there because it might crash further. But I would have X amount in my possession.  

 

[Bagenz]

3 hours ago, BackyardBullion said:

She is a sturdy old girl - can take my weight easily enough so we are good for now ?

Are we talking about the table?

[TerryGriffiths]

If we did see very low pm prices it's also likely that the stock market would have tanked, like commodities did in 2015. That will also present good buying opportunities particular with well managed funds, investment trusts, and dividend type stocks. Always be diversified but make sure you are stacked well with pm as back up.

[bluemoon]

The way I see it, the bonus of cheaper prices is more silver in weight for your money. But it would be foolhardy to divert more money to it just because prices are dropping. That is letting your emotions take you for a ride. What if the price keeps dropping next month and you're whacked out from throwing too many eggs into this month's basket? What if price DOESN'T drop next month but goes UP, but you were waiting in the hope of getting loads more silver for an even lower price, but now you will get less?

Pound cost average. Always.

[5huggy]

Appropriately -  on film 4 right now (LOL) fantastic 4 and "RISE of the SILVER SURFER" 

 

 

[5huggy]

1 hour ago, bluemoon said:

The way I see it, the bonus of cheaper prices is more silver in weight for your money. But it would be foolhardy to divert more money to it just because prices are dropping. That is letting your emotions take you for a ride. What if the price keeps dropping next month and you're whacked out from throwing too many eggs into this month's basket? What if price DOESN'T drop next month but goes UP, but you were waiting in the hope of getting loads more silver for an even lower price, but now you will get less?

Pound cost average. Always.

 I have to agree bluemoon - my earlier comment re "backup the truck" - should really have read  "grab some extra now"  LOL

[Steviesteve]

Well I don't know if it will go higher or lower tomorrow, I suspect higher. Anyhow, the price reached a point I thought was very good, and I ended up spending nearly 3.5k in half an hour ?

[5huggy]

8 minutes ago, Steviesteve said:

Well I don't know if it will go higher or lower tomorrow, I suspect higher. Anyhow, the price reached a point I thought was very good, and I ended up spending nearly 3.5k in half an hour ?

wow! @Steviestevethats a bit of change! - - My brother blue nearly 2k on gold this afternoon too! - - between you 2 you might drive the market back up! LOL?

[Steviesteve]

1 minute ago, 5huggy said:

wow! @Steviestevethats a bit of change! - - My brother blue nearly 2k on gold this afternoon too! - - between you 2 you might drive the market back up! LOL?

Ah, may be two great minds at work there... I spent 2k on 2 gold coins, 1.5k on silver !

[5huggy]

Spooky!  he got two 1 ounce bars - - - All I managed today was one of those awesome QB box's from @Alun

[Steviesteve]

I wanted 3 x 1kg silver bars, and had my heart set on the Umicores. To me they just looked like the perfect silver bar. Then, just two days ago, I saw the new 9Fine bars that Atkinsons got in stock, and wow, they look even better, very chunky and really shiny but still with a poured look. So I got the presentation pack of those. 10 mins later and the packs were sold out.

[Roy]

Did you pay £500/kg?