Silver Price Decline (?)

[maroulator]

I am a new investor to Silver and I am trying to create a modest position. Every piece of information I have read indicates that silver prices will keep being on the rise over the next couple of years which is why I am kicking myself for not discovering and entering the market in March 2020. All the same, it seems that silver prices still have a long way to grow. This being the case, however, I was wondering if anyone had any thoughts about the price of silver declining in the near future say down to $20/ounce before it goes back up again?

 

Thanks in advance

[MrUpwardlyMobile]

Predicting markets is not something people can easily do.  It could go up or down in the short term.

[Kman]

It's a dollar story, when the dollar weakens silver goes up

This is the dollar (green) vs silver (grey) over the past few months, you can see how they inverse

 

I think the dollar has bottomed out now, is due to rise and bring silver down but dxy (the value of the dollar relative to a basket of foreign currencies) is going to need to hold above 92 which it's very close to now

The dxy is heavily weighted against the euro which can't seem to break above the level it's at now on EUR/USD, it's had quite a few goes  the past several months

If that doesn't hold we could see silver make a new strong move up

 

[Pete]

If you ask 100 virtual experts you will get a USA election result - close to 50 / 50.
Many of us 'seasoned stackers' witnessed silver doubling in price, fairly quickly, believing we were the smart "investors".
All the Youtube videos convinced us we were doing the right thing so the herding frenzy took over.
Then it crashed and some thought - forget this addiction - but others gambled on reducing their average cost per ounce by buying more at its low.
Now it has returned to a reasonable price, those who bought cheap can sell or at least show a paper average break-even or small profit.
It has taken close to 10 years though and looking at alternative investments has been a poor choice in my experience.
Gold has followed silver and is now trading high so many gold stackers have made a potential killing over the past 12 months BUT .... can it crash ?

When is a good time to buy ?
Silver is not something that will necessarily become cheap again so perhaps now.
But, the price is set my many factors including big financial institutions playing with their algorithms, always screwing someone else to make a fast buck.
Personally I would be quite happy to start accumulating silver for the long term but having once been "burned" it is not for me looking forward.
As a hobby or part diversification definitely yes, but as a pension pot definitely no.
 

[sixgun]

i started buying silver towards the end of 2014. i had my frenzy during latter half of 2015 and first half of 2016. So i have a different perspective to those who got onboard the silver train in late 2010/11.
i ask myself if silver is going higher. i see it will. It is essential to modern life. This Green Energy delusion, electric cars blah blah only acts to use more silver. Fiat is going to zero.
It is something of a no brainer.
The price of gold and silver have just been smashed this morning. This will keep happening until it stops happening. Sometimes you get lucky when you buy. Sometimes you 'overpay'.

i keep buying bits of silver. i have my stack (which was sadly lost in a tragic boating accident) - i got that in 2015 - 2016 during my frenzy. Now i satisfy my addiction. 

You buy bits like a dripping tap - you spot opportunities - be aware of postage - buy when you see value. Don't get sentimental. 
Silver is a good long term investment - i have no doubt. 

[HighlandTiger]

3 hours ago, Pete said:

If you ask 100 virtual experts you will get a USA election result - close to 50 / 50.
Many of us 'seasoned stackers' witnessed silver doubling in price, fairly quickly, believing we were the smart "investors".
All the Youtube videos convinced us we were doing the right thing so the herding frenzy took over.
Then it crashed and some thought - forget this addiction - but others gambled on reducing their average cost per ounce by buying more at its low.
Now it has returned to a reasonable price, those who bought cheap can sell or at least show a paper average break-even or small profit.
It has taken close to 10 years though and looking at alternative investments has been a poor choice in my experience.
Gold has followed silver and is now trading high so many gold stackers have made a potential killing over the past 12 months BUT .... can it crash ?

When is a good time to buy ?
Silver is not something that will necessarily become cheap again so perhaps now.
But, the price is set my many factors including big financial institutions playing with their algorithms, always screwing someone else to make a fast buck.
Personally I would be quite happy to start accumulating silver for the long term but having once been "burned" it is not for me looking forward.
As a hobby or part diversification definitely yes, but as a pension pot definitely no.
 

Pete, has summed up my experience perfectly, and I'm in agreement with him 100%.

I'm currently reducing my pm holdings as I am holding way too much, what with my retirement less than a decade away. If I sell most of it now, I will make a decent profit, and I can move it into something less volatile, over the short term. For me this will be through whisky holding through whisky invest direct, and through the long term holding of ETFs and funds, along with a few speculative shares for a bit of fun and to get the heart pumping. 

I did all the P2P loan investing lark, luckily got out before it collapsed. I did the property crowdfunding stuff, which has also gone sideways, but I have only a few hundred quid tied up in that. Did the match betting stuff, made several thousand pounds profit there, but I currently have no time to dedicate to it, but will return to it in the future.

So it's back to the tried and tested ways of making your millions, gambling on the stock market.

[ChrisSilver]

Please use the applicable sections if you wish to discuss crowdfunding and other investments. 

The correct section for these discussions is in the Personal Finance / Other Investments section here.