Silver Prices Hitting the Roof

[gmerkt]

Looks like the rocket blew up on the launch pad.

Which doesn't surprise me. I've been waiting for the overvaluation situation to get caught up for some time. We may be waiting longer to see those predictions of $200 silver. Quite a bit longer. The USD hasn't collapsed yet. I suppose the optimists would say, "this is just a pause." My thinking is, "I wonder if what happened lately is another secular spike like 1980, 2011, and the downward trend will continue. Time will tell. I'm beginning to think I should've sold more.

 

[Alexx1401]

$67 an ounce.


Looks like the rocket blew up on the launch pad.

Where are you seeing it at that price? I see $73.55-$73.59

 

[TTSX]

Where are you seeing it at that price? I see $73.55-$73.59

At about 9am PST it was $67, gone up since then

 

[Camelfilter]

At about 9am PST it was $67, gone up since then

Further leads me to believe China has a hand in it (overnight Asian markets).

 

[Medic!]

Where are you seeing it at that price? I see $73.55-$73.59

Yes. As TTSX said. it was $67 when I posted.
It seams to have rallied.


And don't get me wrong. I like the shiny.
I just think jumping on a commodity at its all time high is well.?.....................

 

[Alexx1401]

Yes. As TTSX said. it was $67 when I posted.
It seams to have rallied.


And don't get me wrong. I like the shiny.
I just think jumping on a commodity at its all time high is well.?.....................

Since that HUGE rise it has been very unstable. Silver and gold both are too scary to me. When I was selling the stuff I had I did have to wonder about who was buying at that price. Same with gold when it went nuts along with it. Seeing swings that far that fast is spooky for those who want to buy. Have to guess that latest dip did make a lot of people buy to get the price to bounce back that much.

 

[jayR]

Long live the Petro Dollar!

 

[Cavedweller]

Prices of gold and silver sharply down this evening. This appears to be coincident with the opening of the Hong Kong market. Gold down about $130 to $4,330. Silver was down to $65 but has rebounded a bit at the moment to $66.

 

[gmerkt]

Here is one explanation of contemporary events:

https://www.thestreet.com/investing/silver-price-today-this-warning-is-bigger-than-most-think

Wherein the author states that many of the fundamentals re. silver are still in place, but rampant speculation is now unwinding.

Another "The Street" article contain these words:

"Anyone who has been around commodity markets for a long time, especially precious metals markets, know this absolutely: Prices do not rise forever.

And, when the prices fall, it is rarely pretty.

This has been happening now to anyone who rode precious metals higher when 2026 opened, especially silver and gold, assuming the ride would never end. The market is now really taking the fun away."

 

[gmerkt]

Prices do not rise forever.

I should add, the faster they rise, the more careful you should be.

 

[Alexx1401]

I should add, the faster they rise, the more careful you should be.

YEP! I let people who know FAR more than I do handle my investment money. When I started playing with metal it was only due to my money losing value so I figured I had nothing to lose by playing with a little of it. When price shot up like a rocket worked out great for me. There was no way I was going to buy in during that spike. There was a constant steam of people putting out video's by "experts" telling anyone who would listen to buy buy buy. It was not for me. Does make me wonder about some of the big places that were buying it from us at prices that were so much higher than its going for now. Has to be one hell of a lot of capitol tied up in all that metal they bought.

 

[gmerkt]

There was a constant steam of people putting out video's by "experts" telling anyone who would listen to buy buy buy

That Chinese guy (or is it AI?) is still on, telling us the fundamentals are still in place. And they mostly are. It's just that the fundamentals might not support the higher prices we saw in Jan-Feb.

The Chinese guy discusses the differences between the 1980 silver crash and the one that occurred at the beginning of the Covid event. He didn't mention 2011. He said I should've dumped silver in 1980 instead of holding it for 20 years when it did nothing. That right there was the difference between an investor and a stacker. I didn't keep my silver for those years because I was expecting to make a killing on it; I was keeping it for an emergency.

Does make me wonder about some of the big places that were buying it from us at prices that were so much higher than its going for now.

There has got to be a lot of pain out there in many phases of the system. At least for the time being. And, if they have borrowed money tied up in it, the pain continues. Leveraged borrowed money, oh boy. I remember one down cycle where I was enquiring of a dealer if he had thus and such silver silver bars. He said, "Yes, I have them but I can't sell them. I'm under water in them at the moment." And there was some of his liquidity sitting in the safe, idle.

I don't know what mechanism retail dealers might use to hedge. How would they do that with a floating inventory? Or do they just buy positions in paper on both ends?

As to retail buyers who jumped onto the bandwagon late. There may be some of those who are rethinking their move, and now want to bail out. At a loss. Which contributes to downward pressure. But this is probably not a significant factor in the Big Picture. I'm sure it will slow down retail dealer sales, though.
In the meantime, the US National Debt is now $38 Trillion. I was listening to this financial advisor lady on a video, she was predicting a situation whereby the USD would be revalued. I think I mentioned this already somewhere. She said there would be this critical moment just before revaluation and when debts would be recalculated. You know banks wouldn't roll over to having their mortgages written down by the same percentage of any revaluation. The idea being to pay off old debt in old USD when it was at the most highly inflated point but before revaluation. She said the timing would be tricky. But to pay off that old debt, most people would have to sell assets. She pointed out that this would be a good use of your stack, which by that time would have ridden along on inflation and increased in value accordingly.