Silver going down down baby

marper

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So it looks like silver prices are heading down. Not good for the metal I have on hand but I am not buying silver for the short term I am buying it as protection against an out of control government. Regardless I think we are going to see prices go down in the near term as investors pull there paper out and invest in stocks. This is going to present a really good buying opportunity I am just wondering what do you think the bottom is going to be? We are at $21 today how low can we go? Do we see $15 silver? Could we actually get to $10 again? And for how long will we have this cheap silver?
 

Aubuy

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Silver will never be free to extract, so your guess is as good as mine.
 

pmbug

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Spot is already below mining costs - much less value added services like minting. Not sure how much lower it might go, but it's not sustainable.
 

mmerlinn

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Short of some unexpected event, I seriously doubt that silver will go much below $20 and if it does won't stay down for long. My best GUESS at the moment is late October for a bottom in the $19-20 area.
 

MasterQ

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PM's have typically not stayed under their 100/200dma for an extended period of time.

The longest has been 1 year and we are closing that gap now.

The 100 is sitting at 27.04 and the 200dma is at 29.80.

Those (and they will start easing lower as there has been a lot of lower prices since January) will be my first targets on the rise out of the summer.

This years top targets are still sitting at a big range of 32-36/oz before we start testing new highs in 2014.

Unfortunately with all the global BS and what Bernansky had for breakfast rhetoric this year it didn't help us to do those retests just yet.

Good luck to us all!

-Q
 

Potemkin

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Still just variation. I think it's just trading sideways at around 20 $.
 

Jay

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ancona

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Silver seems to be bouncing off of an invisible floor here. I think 19 and change might be our new "hard bottom" for now. With the volatility mentioned over and over in other threads, and the mismatch between true demand and actual available metal, the fireworks show is setting up to be pretty epic.

I can't fookin wait!
 

Potemkin

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Silver seems to be bouncing off of an invisible floor here. I think 19 and change might be our new "hard bottom" for now. With the volatility mentioned over and over in other threads, and the mismatch between true demand and actual available metal, the fireworks show is setting up to be pretty epic.

I can't fookin wait!
So you too think it will go lower?

I didn't have the funds to stack up again, still waiting for my salary...
I hope it falls down to at least 20 $ and then I'll back up the truck.

:silver:

Gosh, I hope it's gonna go down a bit more...
 

pmbug

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Looks like the bulls are going to run again.
 

11C1P

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I have a feeling there will be at least one more healthy dip down to around $20 maybe under again. If I had to guess I would say Dec. 2013 - Jan. 2014 would be my gut feeling. Several times the last few years there's been a dip around that time period and a lot of people are still struggling so they are probably selling off their silver to make Christmases better and/or pay off any bills after Christmas they ran up for it.
 

KMS

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I'll cross my fingers, but we dumb Airborne types don't know what is going to happen tomorrow, much else what will be in three or four months.
 

mmerlinn

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I have a feeling there will be at least one more healthy dip down to around $20 maybe under again. If I had to guess I would say Dec. 2013 - Jan. 2014 would be my gut feeling. Several times the last few years there's been a dip around that time period and a lot of people are still struggling so they are probably selling off their silver to make Christmases better and/or pay off any bills after Christmas they ran up for it.
There should be a low on the last day of the year simply because big money is balancing out their portfolios since, by law, those portfolios must be marked to market on the last trading day of the year.

Will it be around $19/20? If the current downtrend has not been broken, then prices should be somewhere between $19 and $24. If the current downtrend has been broken, then prices should be around $26 on the last day of the year.

We don't have long before we will know.
 

ancona

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I think silver will be just fine through the end-of-year period. The imminent war with Syria may complete the destabilization of the MENA, which will send oil in to the stratosphere, especially if the Iranians and Russians get involved. It will only take one sunburn missile to do the trick. i think all bets are off until Syria is decided once and for all. In my opinion, Syria will become a swamp of extremist activity approaching anarchy if the regime is toppled and removed. expect a lot more on this event in the coming weeks.

Go silver!
 

Aubuy

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I think silver will be just fine through the end-of-year period. The imminent war with Syria may complete the destabilization of the MENA, which will send oil in to the stratosphere, especially if the Iranians and Russians get involved. It will only take one sunburn missile to do the trick. i think all bets are off until Syria is decided once and for all. In my opinion, Syria will become a swamp of extremist activity approaching anarchy if the regime is toppled and removed. expect a lot more on this event in the coming weeks.

Go silver!
Some think Syria will be partitioned into two states. One for the regime (with gas and Russia) and the other for (your name here). Everybody gets half a loaf.
 
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