5 year low spot price

[GrahamHantsHog]

Looking at some graphs, it appears silver is at a 5 year low, time to buy oerhaps or will it keep going down ?

[Pete]

Thanks for reminding me as a stacker that bought most of my silver at the highs !

Just swallowed two Gaviscon to ease the pain.

 

[Scuzzle]

From what I have seen recently I don't think sellers will drop silver all that much more now,  they seem to have a set level that they are not keen to drop too much below and if silver does drop below it they just keep the price up by adding on to their premium.  Just my observations but when silver spot is high and it drops 20p or 30p then silver products drop 20p or 30p along with it but now silver is low if it drops 20p or 30p silver products only seem to go down by a couple of pence.

[garthy]

To be honest I didn't think silver would get this low but now it's here it looks like it's going lower as deflation gets its grip on the world.

Personally I'll keep buying bit by bit all the way to the bottom, for two reasons really, no.1 you never know when this could all turn around and no.2 and probably most important is I enjoy it.

 

[HighlandTiger]

6 hours ago, Scuzzle said:

From what I have seen recently I don't think sellers will drop silver all that much more now,  they seem to have a set level that they are not keen to drop too much below and if silver does drop below it they just keep the price up by adding on to their premium.  Just my observations but when silver spot is high and it drops 20p or 30p then silver products drop 20p or 30p along with it but now silver is low if it drops 20p or 30p silver products only seem to go down by a couple of pence.

Hence the reason why allocated silver looks such a good bet at this moment. You can buy at an instant at the lows, and sell at the very highs. Something you just cannot do with physical coins. plus the fact its a fecking pain in the derrier selling coins. Just packaged another load of coins I've just sold, and I just hate doing it. Love the money, just hate the packing and then popping down to the post office.  

Regarding the price, I've noticed around 9 times out of 10, the monthly lows are around the 15th to the 18th or so of every month, and the highs are at the end / beginning of a month. So I tend to buy around now, and wait till later in the month to sell. The sheep buying and selling paper silver seem to love this obvious pattern, so I'm more than happy to tag along for the ride. 

[Pipers]

I think Silver will go down with Gold.  IMO when Gold goes to $1000 Silver will be at $13.2-$13.5, if Gold goes below $1000 to $900 or below  and some on here think it will you could be seeing $12 for silver. Now that does not mean you can buy silver for anything near that price and I would think the dealers margins would rocket.   

BTW at that price you could take delivery from LBMA good delivery bar(1000Toz) for £8000 plus delivery! Thats if you could carry it or you could make your own coins from the private mints.    

[goldbones]

Copper is around a 10 year low if they all followed that route then silver will go to $10 and gold will go to $600, i think if copper breaks below $1.50 and oil breaking down to sub $30 then you might see those prices. But there's a lot of ifs and buts because gold and silver are generally considered less industrial, however the markets are basically digital future price contracts that  may not reflect real supply and demand in the short term.

All markets are voting machines in the short term and weighing machines longer term.

A person who obsesses over the price of something usually (it follows) knows the value of nothing. Most market participants are obsessed with price and the associated fear and greed of price action. 

[goldbones]

Its all about the dollar though, when you look at the index

http://www.bloomberg.com/quote/DXY:CUR

No coincidence the index at a 5 year high, i mean industry slow down is playing a part but specifically to gold , gold basically being the opposite side of the trade.

[Scuzzle]

Was the dollar not high in 2008 when it all came crashing down as well though?

[goldbones]

27 minutes ago, Scuzzle said:

Was the dollar not high in 2008 when it all came crashing down as well though?

Not really, it actually came down a lot from 2000-2008, it hit a bottom then hit another bottom in 2011 before rallying up

http://www.barchart.com/chart.php?sym=$DXY&t=BAR&size=M&v=0&g=1&p=MO&d=X&qb=1&style=technical&template=

[goldbones]

If you look carefully the last time both the stock market and the dollar were in rally mode  simultaneously and at the same index price as today was November 1999 , just before the markets peaked and gold bottomed out, so that looks a bit ominous.

[Pipers]

Different this time, the shipping charts are down, BD and  HX , China is slowing down and trying to change to a consumer society to keep going.  Copper is down because there is no demand.

 

[Yeti]

On 17 November 2015 at 08:43:47, HighlandTiger said:

Hence the reason why allocated silver looks such a good bet at this moment. You can buy at an instant at the lows, and sell at the very highs. Something you just cannot do with physical coins. plus the fact its a fecking pain in the derrier selling coins. Just packaged another load of coins I've just sold, and I just hate doing it. Love the money, just hate the packing and then popping down to the post office.  

Regarding the price, I've noticed around 9 times out of 10, the monthly lows are around the 15th to the 18th or so of every month, and the highs are at the end / beginning of a month. So I tend to buy around now, and wait till later in the month to sell. The sheep buying and selling paper silver seem to love this obvious pattern, so I'm more than happy to tag along for the ride. 

Who would you recommend buying allocated gold/silver with? I'm seriously thinking along those lines for the points you've raised above...cheers, yeti

[Scuzzle]

15 minutes ago, Yeti said:

Who would you recommend buying allocated gold/silver with? I'm seriously thinking along those lines for the points you've raised above...cheers, yeti

I'm considering the same thing, need allocated silver that I can chop and change between silver and gold when the mood takes me, an option to cash out one day with physical would be nice as well.

[HelpingHands]

 

[HelpingHands]

46 minutes ago, Yeti said:

Who would you recommend buying allocated gold/silver with? I'm seriously thinking along those lines for the points you've raised above...cheers, yeti

I haven't looked into it but I've just seen this as a possible option.

 

[HighlandTiger]

I use www.bullionvault.com

There are a few of us on this forum who hold both gold and silver with this company. 

I intend to have a 5 figure sum with them by the end of the next 10 years. 

[garthy]

My personal problem with likes of bullionvault are....

No.1 They only deliver silver when you have over 1000oz, so until that time aren't we just trading paper contracts?

No.2 If that's the case where does bullionvault keep our money? Most probably in a bank, what happens if their bank goes under?

No.3 What happens if bullionvault goes under? We're then at the mercy of the administrator/liquidator, I doubt we'd be first in line.

No.4 As far as I know they don't personally hold any bullion, that's held by a 3rd party operator, another liability.

I mean if this is a short term strategy and you know the risks all well and good, but for me it kind of defeats the object of gold and silver, you may as well trade stocks or futures.

Just my opinion mind...

[HighlandTiger]

@Garthy, I'm afraid you couldn't be more wrong about BV if you tried. You really need to read their website before commenting further 

https://www.bullionvault.com/help/FAQs/FAQs_safety.html#The safety of your money

You are not trading paper contracts, but physical amounts. This is confirmed by an independent DAILY audit at the vaults. 

Where does BV keep your money?. Err it doesn't. You've bought the gold and silver, so you have no money with them. If you have a small amount of cash in your account, the that is protected exactly the same as your own money in your own bank

If BV goes under, you still own the gold and silver, these metals cannot be touched by liquidators under bailment laws.

The silver and gold are held in major PM vaults, owned by Brinks and Loomis International. 

Loomis International and Brink's are independent professional bullion market vault operators and LBMA security transport companies. They have been selected by BullionVault to look after BullionVault gold and silver.

Loomis International, originally Via Mat International before a brand and company name change in March 2015, operates widely in North and South America, Europe and the Far East.  In their home country of Switzerland they dominate the business of physical assets custody and transportation.  They are the trusted carrier of Swiss banknotes, as they travel between the central bank and the various branches of the Swiss banking industry.

You can learn more about Loomis International from their own website.

Based in Richmond, Virginia, Brink’s is a global leader in security-related services for banks, retailers and a variety of other commercial and governmental customers.  Services include armoured car transportation, money processing, long-distance transport of valuables, vaulting and other value-added solutions.  They employ about 70,000 people who serve customers in more than 100 countries.

You can learn more about Brink’s from their own website.

 

Personally I think holding PM's in this way is much more safer, than sticking them under your bed or buried in your garden.

[Paul]

Should anything ever go bad with goldmoney or bullionvault it would be annoying - YES , if your eggs aren't all in one basket with them you just have to rebuild should the worse happen.  As you are not all not 'all in', you're not going to loose all your chips  

• But for the same matter what if you are burgled?
• the wife decides shes leaving you and liquidates the tube of krugerrands you bought with your cash in hand work &  had hidden in your golf shoes in the shed ?
• you have £100k in the bank and government suddenly limits you to £100 you can withdraw per day to stabilise currency markets, hey it will only be x1000 days........... 2 years 9 months to get all your cash
• government says you are liable to 25% bail in on any savings you have over 75k overnight

ANYTHING is possible, who knows

SPREAD YOUR RISK

[garthy]

22 hours ago, HighlandTiger said:

@Garthy, I'm afraid you couldn't be more wrong about BV if you tried. You really need to read their website before commenting further.

HT, what I said was my own personal reasons for not wanting to be involved with the likes of bullionvault, I looked into it before I bought an Oz of silver and decided it wasn't for me.

Their bars are 1000oz only, if I don't own 1000oz they actually state they will not make delivery of anything smaller, therefor the settlement will be in cash, to me that is a paper contract, I want silver if inflation going through the roof not paper.

If you check their small print, it says, If BV are no longer trading your contract will be in the hands of firstly, the auditors, secondly the liquidators and lastly the vault owners, pretty much what I said.

So I stand by my first reply on the subject, to me it defeats the object of gold and silver, if you're personally happy with BV all well and good but it's not for me and that's all I have to say on the subject.

 

[Pete]

I know this is totally irrelevant but before the financial crash I held a bond in an S&P AAA rated institution which was supposedly immune to everything excluding an end of the world meteorite. Guaranteed by another bank of wonderful reputation - that was Lehman Bros - so I lost the lot - enough to buy a house in some parts of England.

I wouldn't rely on any 'guarantees" from even the biggest institutions as there are too many loopholes and others in the queue when an institution goes bust as some do because of dodgy deals and things that you and I would never have any clue about. Let's not forget that RBS, the biggest bank in the world, technically went bust but the government saved them. Then there was Lloyds, similar deal but poor Northern Rock went to the wall and all shareholders lost everything.

Whatever terms you believe in, there are always sharks in the water and Companies within Companies so you can find the Company you deal with is part of another complex structure to which you are at the end of the queue if the SHTF.

Someone once posted on a Forum that if you don't hold it you don't own it and I reckon there is some truth in that.

Just posting as food for thought.

[shemyaza]

Those who are qualified in investing have a qualification in a set of parameters that are now disappearing into the past. They look down at the segment of railtrack they are standing on, only to look up and see the train hit them as they look forward. Qualifications mean nothing.

[shemyaza]

Pipers, I agree with that and allows us to buy when we choose without feeling like we've missed the boat. The Solar industry has found a way to use Aluminium instead of Silver to reduce costs without loss of performance so that industry will now shift buying into Aluminium on a growing basis. The Aluminium stacking community will be jumping for joy however.

[ChrisSilver]

On 24 November 2015 13:25:12, Paul said:

the wife decides shes leaving you and liquidates the tube of krugerrands you bought with your cash in hand work &  had hidden in your golf shoes in the shed ?

LOL. Quote of the month has to go to Paul.