Stubborn silver stays over $38

[SilverStacker]

Boy for a second there today I thought silver might just dip below $38 today, causing me to buy again. But she stays above $38 once again and refuses to budge.

Is sub-$38 silver a thing of the past ? Your thoughts please ? Currently $38.28

 

[Voodoo]

Almost, we might have a demand destroying event here in Aug/Sep. That would be the last chance to stack at great prices I think.

Also, watch closely tomorrow as the FOMC jokers start talking. They love to hammer the real stuff at the same time.

 

[SilverStacker]

I have a bad feeling that now is the time to buy. I just spent a ton in a dip and while I can buy more its getting past the "diversify" level and instead is reaching the "silver fever" Level. I can't allow the beauty of the metal to decide my investments but I think your right Voodoo. I'll be watching markets and availability's closely. I still predict $40 silver by the end of summer.

 

[Fatrat]

I was around when silver went way up before and I find it hard to buy now especially since Powell is keeping rates high...

 

[Casey Jones]

Is sub-$38 silver a thing of the past ? Your thoughts please ?

Is a 15-cent hamburger at McDonalds, a thing of the past?

Of course - and for the same reason.

Inflation is the thief in the night.

 

[pmbug]

$37.87 presently. May stay below $38 throughout the day if JPow holds rates today (painting the end of the month close). If JPow actually cuts rates, I expect metals will take off again and we might not see sub $38 again for a very long time. This isn't trading advice - I don't have a crystal ball. I'm just musing.

 

[Casey Jones]

I am, too - but if it stays low, in this environment (I've seen online nobodys analyze prices and conclude we've had a 25-percent loss in purchasing power since 2020)...if it stays or goes down, it's because the moneychanger masterminds are aiming their paper cannon at the silver market.

Will it work? For another day, maybe. Maybe that's all they need - we can see, and they know, they're about to get their Big Beautiful War going.

 

[Voodoo]

Almost, we might have a demand destroying event here in Aug/Sep. That would be the last chance to stack at great prices I think.

Also, watch closely tomorrow as the FOMC jokers start talking. They love to hammer the real stuff at the same time.

They never fail to disappoint (although somehow always out do my expectations). Holy Copper WFT.

 

[SilverStacker]

Well its going to take time for retail prices to catch up to the dip but my predictions make me look like a horses arse anyways.

I always said if your going to be wrong be wrong big. And a $2+ drop in a week is a big deal. Tomorrow is payday and I'll decide then. Well see which way the wind is blowing but I'd be very surprised to see it go cheaper. Then again I was surprised to see $36.94. I underestimated Trumps use of tariff scares and deals. And gold ? Gold at $3,275 ? How the heck cheaper can that get ?

 

[nickndfl]

Gold at spot at BE. I could use a few $20 gold coins.

 

[SilverStacker]

Well silver headed back up where it belongs. But I got in on the dip and got some good deals.

Gold at spot at BE. I could use a few $20 gold coins.

Yeah they had Phil's at insane prices. I sure wish I'd had the cash, even for 1/2. But I did get in on the silver dip. It was one or the other and I judged silver to be the better investment. Gold, even what little I own, makes up over 1/2 my PM portfolio and thats just an out of whack stack.

Its time to stack junk quarters and halves again. Along with 5 and 10 oz bars. I got another Canuck .9999 from Monumental for $400 and bought 5 5 oz'ers for less then $200 apiece. For silver Monumental has become my one stop shop. BullionExpress is a winner too. Monument had those 5 oz silver MSD design bars I like so much for under $200 apiece. Amazon had some 5 oz capsules "air tights" that fit every 5 oz'er I have as well as 10 oz capsules.

I love America.

 

[Cigarlover]

I posted elsewhere that 36.50 was initial support for silver. Since we are just about there I would guess that we break that level 34ish is next support level.

Gold has broken below support already so 3000-3100 is next support. Looks like it's getting a boost this morning but it has some work to do to negate the bear flag set up.

Keep an eye on the dollar. A higher dollar will give us lower prices in everything.

Copper hammered yesterday on a 50% tariff across the board on copper.

 

[nickndfl]

SD has junk silver at spot.

 

[KnowWhy]

Well silver headed back up where it belongs. But I got in on the dip and got some good deals.

I love America.

Glad you got in on the dip.