Silver is Going Crazy!!

[Sand Sifter]

Guess he was right... it is going up and up & up !!!

HH
Donna

Yes mam, I believe you are correct, lol. Wife and I just got back from shopping. Before we left, I posted a screenshot of Silver hitting $81.59.

Just got back and Silver is now up to $83.23. Seems every time I go out, Silver jumps $2.00 oz while I was away, happened yesterday too. I think I need to go out more often, lol.

 

[sprchng]

Wouldn't it be nice to sell on after hour prices and buy on market openings?

 

[Sand Sifter]

Everybody, reread post #95, looks like the drop is happening that I mentioned in that post. I just saw that it had dropped to $76. Remember, I said it would drop $5 - $10 an ounce for a brief period, then would start shooting back up.

Don't panic, this is expected. Just checked and it was up to $77, hit refresh and now it's up to $78, lol. We were expecting a brief drop, looks like it happened and the price is once again heading up.

 

[RichW]

Everybody, reread post #95, looks like the drop is happening that I mentioned in that post. I just saw that it had dropped to $76. Remember, I said it would drop $5 - $10 an ounce for a brief period, then would start shooting back up.

Don't panic, this is expected. Just checked and it was up to $77, hit refresh and now it's up to $78, lol. We were expecting a brief drop, looks like it happened and the price is once again heading up.

Panic about what ? Most people on this forum have probably got their silver for free.

 

[Sand Sifter]

Panic about what ? Most people on this forum have probably got their silver for free.

We all have Silver that we've gotten for free, lol. But some people have also been buying, some may have converted their 401K's over to physical Silver/Gold. But seems every time over the last 6 months that Silver took a temporary dip, Chicken Littles came out of the woodwork screaming that the sky was falling, and "I told you so". Seen & heard all that and just laughed. So, this time, I prewarned everyone that we would experience a temporary dip of $5 - $10 an ounce, as the paper Silver traders desperately try to keep from going under. But just heard a MAJOR Bank tied to precious metals couldn't make their multi-billion $ margin call, so the Exchange began forced liquidation of their contract. Federal regulators have seized the bank.

I mentioned in post #95 that turmoil and a dip in Silver price was coming and was gonna get pretty volatile, not for those of us who hold physical silver, but those holding paper Silver, ETF's, etc. It's a war between the paper Silver market and the physical (real) Silver market that China currently dictates. Just pre-warned everyone to expect this dip but it would only be temporary and the price would come bouncing back. Earlier, as I saw the price hit $83, actually hit $84 earlier but I was out shopping. After I saw the $83, it started dropping as expected. Dropped down to $76, then rose back to $77, then $78, and is currently doing little ups and downs as it starts heading up again.

Just assuming from previous experience and history that not everyone reads entire posts so they react to situations that were previously explained and would be aware of if they had read the posts, lol.

 

[david bull]

Predicted cost to produce for2025-2026 is $21-$22 .There are mines ready to reopen on standby…Am I missing something or is this all based on speculation?

 

[sprchng]

Predicted cost to produce for2025-2026 is $21-$22 .There are mines ready to reopen on standby…Am I missing something or is this all based on speculation?

A lot of it is speculation and a lot is short covering. In the end it will settle at a much lower price than the pundits are screaming to keep the frenzy going. Important to remember that pigs get fat and hogs get slaughtered and one thing pundits never seem to mention in their predictions is that 20% of the silver today comes from recycling and that increases with improved technology every year.